4 Legal Framework It focuses on two articlesThe TRIPS Agreement contains declarations prohibiting all TRIMs incompatible with Articles III or XI of the 1994 GATT. Imports and exports are part of the general trend of textiles and agriculture to the gradual adoption of quantitative restrictions The TRIPS agreement does not impose new commitments, but clarifies the commitments already made in 1947 by the GATT. Under the WTO TRIPS agreement, countries are required to correct all measures incompatible with the agreement within a specified time frame, with a few exceptions, India has adopted several measures to liberalize foreign investment since the launch of the new industrial policy in 1991. Rules on foreign direct investment and REIT have been simplified and foreign investment is now allowed in almost all sectors. 11 issues relating to the operation of the agreement. 4 provides that a member of a developing country is free to temporarily depart from the obligations under that agreement, which, under Article XVIII of the GATT 1994, the 1994 GATT balance-of-payments rules agreement and the balance-of-payments trade measures declaration adopted on 28 November. , would raise the issues of developing countries in relation to the operationalization of this provision. The issue of the five-year transitional period for developing countries is closed before the revision of the functioning of the agreement. The issue of transitional periods and the need for a general exemption, rather than relying on individual demands, are a concern for developing countries; Article 5.3, which provides for an application to extend the transitional period on an individual basis, provides that these members must face particular difficulties in implementing the provisions of the agreement.
Comments are closed.