The powers of the states to regulate international trade within their territories have to be coherent with these principles, and members can file a complaint against the other members if they feel there is a contradiction to such principles. Again, the state can create an unequal ground for the trading parties, supporting one over the other. (GATS) (Article 2) and the Agreement on Trade-Related Aspects of Intellectual On the other hand, developing countries need flexibility in the time they take to implement the WTO strives to work in furtherance of these principles and act in accordance as well. Sometimes countries tax imports at rates that are lower than the bound rates. Most-favoured nation (MFN) status did not always mean equal treatment. 4 basic principles of the WTO are: 1. One of the most common intentions for putting up trade barriers among the states are to favor companies and traders based in its jurisdiction. Agreement on Tariffs and Trade (GATT), General Agreement on Trade in Services The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. over—140 fellow-members equally. Non-discrimination is a key concept in WTO law and policy. Part 2: structure and main principles" Subject "International Economic Organisations" RUDN In the WTO, when countries agree to open their markets for goods or services, they “most-favoured” trading partners. Sometimes, promising not to raise a trade barrier can be as important as lowering one, because the promise gives businesses a clearer view of their future opportunities. Large-scale negotiations, like the Doha Round, require their own special negotiating forum. 20091 OBJECTIVES AND PRINCIPLES OF TRIPS 981 WTO, the World … Therefore, WTO works to establish the principle of non-discrimination, which could further be classified as follows: WTO works towards making the trade freer; freer trade refers to fewer restrictions which have to be achieved through better understandings between the member states and more agreements leading to reduction of restrictions. Lection "World trade organisation. He believes in simplicity & takes legal literacy very close to his heart. It focuses on provisions which establish the possibility of derogations to the general principle of free trade, within the … Property Rights (TRIPS) (Article 4), although in each agreement the A country can change its bindings, but only after negotiating with its trading partners, which could mean compensating them for loss of trade. The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. The WTO establishes a framework for trade policies; it does not define or specify outcomes. This is how the whole regime of trade is being governed and lead in a specific direction. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. In general, MFN means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners But by the 1980s, the negotiations had expanded to cover non-tariff barriers on goods, and to the new areas such as services and intellectual property. I am just now Understanding The Wto Principles Of The Trading System getting profitable with them. cover all three main areas of trade handled by the WTO. This principle is known as most-favoured-nation These three principles are the most fundamental principles of the WTO, and all are designed to establish and maintain non-discrimination and openness in the international market. For example, countries can set up a free trade agreement that applies only to goods traded within the group Principles of WTO law. But the agreements only permit these exceptions under strict conditions. 1. At first these focused on lowering tariffs (customs duties) on imported goods. Difference between MoU and Letter of Intent, Kashmir Issue: Abrogation of Article 370 and Article 35A. And the agreements themselves inherit the earlier provisions of GATT that allow for special assistance and trade concessions for developing countries. countries’ trade rules as clear and public (“transparent”) as possible. Copyright © 2021 Finology Ventures Pvt. As will be discussed later, the WTO is based on the principles of most- favored-nation treatment (“MFN”), national treatment, and transparency. each of these. Principle 2: Transparency and Accountability Involving producers in important decision making. Understanding The Wto Principles Of The Trading System All you have to have is a decent strategy and stick to your rules! The result of all this: a substantially higher degree of market security for traders and investors. The MFN principle ensures that each country treats its The WTO system contributes to development. On the one hand, the EC proposal narrows the national treatment obligation to de jure discrimination within the scope of national laws, including their administrative and secondary legislation. Principles of the trading system. 2. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members. There might be instances where developing countries might not be able to adhere to the general principals enshrined in the multilateral agreements, and therefore WTO system allows the developing countries concessions and assistance. The purpose is to help producers of goods and services, exporters, importers conduct their business Principles of World Trade Organization (WTO) World trade Organization (WTO) provides the principal contractual obligations determining how governments frame and implement on domestic trade legislation and regulations. Free trade refers to a situation where there is no state intervention in trading. Many WTO agreements require governments to disclose their policies and practices publicly within the country or by notifying the WTO. — are designed to secure fair conditions of trade. It suggests special treatment, but in the WTO it actually means non-discrimination Developing countries are usually given longer to fulfil their obligations. There are few principles that WTO uses as its tools to reduce the restrictions on trade that the states might put up. the foreign goods have entered the market. others the same treatment as one’s own nationals) is also found in all A ninth round, under the Doha Development Agenda, is now underway. (MFN) treatment (see box). A ministerial decision adopted at the end of the round says better-off countries should accelerate implementing market access commitments on goods exported by the least-developed countries, and it seeks increased technical assistance for them. The WTO’s founding and guiding principles remain the pursuit of open borders, the guarantee of most-favoured-nation principle and non-discriminatory treatment by and among members, and a commitment to transparency in the conduct of its activities. These three principles are the most fundamental principles of the WTO, and all are designed to establish and maintain non-discrimination and More recently, developed countries have started to allow duty-free and quota-free imports for almost all products from least-developed countries. Everybody knows WTO as that body which governs the global trade. Each member treats all the other members equally as What are the principles on which WTO Functions? Wto-Study the Section on the Principles of the Trading System and Make a Set of Brief Notes About What These Principles Are. Principles of WTOThe WTO agreements deal with: agriculture, textiles and clothing,banking, telecommunications, government purchases, industrialstandards and product safety, food sanitation regulations, intellectualproperty, and much more. Under the WTO agreements, countries cannot normally discriminate between their trading partners. The multilateral trading system is an attempt by governments to make the business environment stable and predictable. So too are those on dumping (exporting at below cost to gain market share) and subsidies. National treatment: Treating foreigners and locals equally  Imported The WTO is sometimes described as a Akshay is a Language Enthusiast & an HNLU alumnus. Encouraging development & economic reforms As will be discussed later, the WTO is based on the principles of mostfavored- nation treatment (“MFN”), national treatment, and transparency. The WTO legal system has brought about a considerable change in the use of quantitative restrictions and other non-tariff measures affecting imports. “plurilateral” agreement because it is signed by only a few WTO members) extends competition rules to purchases by thousands of government entities in many countries. The principle of preserving and promoting competition in the market remains as the central idea of multiple WTO policies. Lowering trade barriers is one of the most obvious means of encouraging trade. WTO and Anti-Dumping WTO Anti-Dumping Rules Article VI of the GATT (as restated) enables member states to put in place anti-dumping measures to deal with cases, where third country goods are imported or sent to the state at less than their value in such a way that threatens or causes material injury to existing industries in the member […] Even assuming, arguendo, that the legal principle reflected in the passage referred to by Mexico is applicable within the WTO dispute settlement system, we note that this would entail a determination whether the United States has acted consistently or inconsistently with its NAFTA obligations. Home  |  About WTO  |  News & events  |  Trade topics  |  WTO membership  |  Documents & resources  |  External relations, Contact us  |  Site map  |  A-Z  |  Search. And so on. The system does allow tariffs and, in limited circumstances, other forms of protection. The issues are complex, and the rules try to establish what is fair or unfair, and how governments can respond, in particular by charging additional import duties calculated to compensate for damage caused by unfair trade. National treatment only applies once a product, service or item of intellectual property has entered the market. You’ll examine critically the WTO’s key foundational principles, including: non-discrimination; most-favoured nation (MFN) national treatment; tariffs; quantitative prohibitions; subsidies; transparency. — choice and lower prices. WTO law and international investment law differ not only in their regulatory concepts and complexities. Principles of wto 1. This is what happens. “most-favoured”. A regulated market where risks are less, or if the risks are known, investors and traders would be more interested in working in such markets. Principle of WTO. Or a country can raise barriers against products that are considered to be traded unfairly from specific countries. For goods, these bindings amount to ceilings on customs tariff rates. Customs unions and Free Trade Areas are an exception to the MFN principle. On all of this, the WTO and its members are still going through a learning process. The first bilateral MFN treaties set up exclusive clubs among a mid-1990s industrial MFN is also a priority in the General Agreement on Trade in Services Principles play a crucial role in any dispute settlement system, and the World Trade Organization (WTO) is no exception. MOST – FAVOURED NATION (MFN) This simply means that no WTO Member; when exporting goods, providing services or in regard with Intellectual Property Right (IPRs); should obtain treatment worse than the one granted to any other country by another WTO Member. The rules on non-discrimination — MFN and national treatment During the seven and a half years of the Uruguay Round, over 60 of these countries implemented trade liberalization programmes autonomously. “best” treatment to all the other WTO members so that they all remain At the same time, developing countries and transition economies were much more active and influential in the Uruguay Round negotiations than in any previous round, and they are even more so in the current Doha Development Agenda. Principle 1: Creating Opportunities for Economically Disadvantaged Producers Poverty reduction by making producers economically independent. One way is to discourage the use of quotas and other measures used to set limits on quantities of imports This principle of “national treatment” (giving As a result of the negotiations, by the principles More accurately, it is a system of rules dedicated to open, fair and undistorted competition. Some exceptions are allowed. All of these are overseen by councils and committees at the WTOs headquarters in Geneva; the WTO doesnt have any local or regional offices. Together, those three agreements Most-favoured-nation (MFN): treating other people equally  Under the WTO agreements, countries cannot normally discriminate between their trading partners. This sounds like a contradiction. These principles are the foundation of the multilateral trading system. Also, there might be some reason for a state to favor party from state A over state B. Mainly, limits are like taxes and duties, though there are other ways as well. A. Thus, it not only pushes for institutional changes for economic reforms but also helps economically weaker countries to cope up with the challenges and function according to their capabilities. There are basically five principles of Trading System: Nondiscrimination: Nondiscrimination has two major components: the most-favored-nation (MFN) rule, and the national treatment principle. system’s agreements. It refers to the ability to predict the nature of the market shortly. The agreements of the WTO permit every member to take measures to protect plant, animal and public health and also to protect the environment 1. In other words, it is concerned with rule setting of the games of trade policy. Competition among the different players in the market, as is believed in the postmodern era, leads to consumer welfare. (see table). Principle governing the exchange of concessions in negotiations What is the principle by which countries agree in trade negotiations to reduce Principles of the WTO agreements Non-Discrimination – Non-Discrimination has two aspects: Most favoured nation (MFN) and National Treatment. Under GATT and now the WTO, the MFN club is no longer exclusive. For example- India decides to lower basic customs duty for imports of iron-ore from China. This favor in advances often puts the foreign parties at a disadvantageous position. The WTO’s founding and guiding principles remain the pursuit of open borders, the guarantee of most-favoured-nation principle and non-discriminatory treatment by and among members, and a commitment to transparency in the conduct of its activities. WTO Origin and Principles The main body of WTO law is composed of over sixty individual agreements and decisions. “bind” their commitments. The ultimate goal of WTO is to help producers of goods and services, exporters, and importers conduct their business. — particularly so for the poorest, “least-developed” countries. The WTO establishes a framework for trade policies; it does not define or specify outcomes. This principle is known as most-favoured-nation (MFN) treatment. Though it might not be because it regulates international trade only between the member states. |, Top 10 Indian Merger and Acquisition Deals, Ketan Parekh scam: All that you must know, All About Pradhan Mantri Awas Yojana [PMAY –urban]. Agreement on Tariffs and Trade (GATT), which governs trade in goods. country’s “most-favoured” trading partners. — whether rich or poor, weak or strong. — treating virtually everyone equally. Earlier, the objective used to be to prevent the creation of monopolies or restrictive trade practices; now, the goal is also to promote the competition in the market. of the trading system, General Many of the other WTO agreements aim to support fair competition: in agriculture, intellectual property, services, for example. WTO as organization has some basic principles. Principles of the trading system. importance in understanding both the pre … With stability and predictability, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition As already noted in chapter 1, there are two main principles of non-discrimination in WTO law: the most-favoured-nation (MFN) treatment obligation and the national treatment obligation. countries’ tariff rates on industrial goods had fallen steadily to less than 4%. Five principles are of particular importance in understanding both the pre-1994 GATT and the WTO: WTO, as an organization, has a particular goal of freeing the trade, by reducing the trade restrictions that the states put up. Article 17 of GATS and Article 3 of TRIPS), (GATS), Agreement on Trade-Related Aspects of Intellectual As a matter of policy for WTO, it works towards promoting economic reforms in developing countries. this will help us all understand the principles of the WTO and how they already work to eliminate discrimination, increase predictability, openness, etc. The laws of National Treatment and Most Favored Nation serve the purpose of ensuring fair competition among different goods and services, regardless of their nation of origin. What are the 10 Labour Laws that every employee must know? Over three quarters of WTO members are developing countries and countries in transition to market economies. Or they can give developing countries special access to their markets. Opening markets can be beneficial, but it also requires adjustment. principle is handled slightly differently. The laws of National Treatment and Most Favored Nation serve the purpose of ensuring fair competition among different goods and services, regardless of their nation of origin. copyrights and patents. countries’ concerns about the difficulties they face in implementing the Uruguay Round agreements. In agriculture, 100% of products now have bound tariffs. Trade flourishes in a predictable and stable market and hence WTO encourages the states to work in the promotion of predictability of such market. At the end of the Uruguay Round, developing countries were prepared to take on most of the obligations that are required of developed countries. The enforcement of WTO law through investment treaties also runs counter to individual principles of both international legal regimes. —   discriminating against goods from outside. although once again the principle is handled slightly differently in The system tries to improve predictability and stability in other ways as well. Since GATT’s creation in 1947-48 there have been eight rounds of trade negotiations. And in services, countries are allowed, in limited circumstances, to discriminate. But a number of simple, fundamental principles run throughout all of these documents. Competition is deemed necessary in the market, and therefore, across multiple jurisdictions, there are laws regulating competition in the market. Anti-Defection Law: Time to revisit or repeal. foreign and domestic services, and to foreign and local trademarks, Frequently this is the case in developing countries. But the agreements did give them transition periods to adjust to the more unfamiliar and, perhaps, difficult WTO provisions ...Hand in assignment Week 3 Anne Sofie Lund Introduction of WTO principle trading system WTO agreements cover a wide range of business areas such as: agriculture, textiles/clothing, banking, telecommunication, government pu The same should apply to That is, it is concerned with setting the rules of "trade policy." They deal with: agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards and product safety, food sanitation regulations, intellectual property, and much more. is so important that it is the first article of the General — administering quotas can lead to more red-tape and accusations of unfair play. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members. Percentages of tariffs bound before and after the Safety Valves Governments are able to get trade restricted in certain circumstances. That is, it is concerned with setting the rules of the trade policy [54] Five principles are of particular games. The WTO: general principles and exceptions 1. The tariff rate levied on a given commodity must be the same for all supply nations and tariff concessions exchanged between any two countries must be extended to all member nations of the WTO. and locally-produced goods should be treated equally — at least after There are five principles that are particularly important: 1. These are: Trading without Discrimination: The famous “Most Favored Nation” (MFN) clause or Article 1 of GATT all countries are on an equal basis and all shares the benefits of any moves toward lower trade barriers. Therefore, charging customs duty on an import is not a violation of national treatment even if locally-produced products are not charged an equivalent tax. It The world is complex and so is WTO. ! Property Rights (TRIPS). WTO Core Principles and Prohibitions iv 8. That's what most people say, but a few people Understanding The Wto Principles Of The Trading System I know are doing awesome! WTO agreements are strict and should be always complied with. 115 We see no basis in the DSU for panels and the Appellate Body to adjudicate non-WTO disputes. The current Doha Development Agenda includes developing Ltd. | All Rights Reserved, Akshay Mankar The principle of preserving and promoting competition in the market remains as the central idea of multiple WTO policies. Principle 3: Fair Trading Practices Trading fairly with concern for the social, economic and environmental well-being of producers. Another is to make Since there are 160 members and 95% of the world trade, it is more or less accurate that WTO is the regulator of international trade. Only WTO Member States have standing before the WTO Dispute Settlement Body. “free trade” institution, but that is not entirely accurate. There is a trade policy framework established by the WTO; it does not specify or define outcomes. The regular surveillance of national trade policies through the Trade Policy Review Mechanism provides a further means of encouraging transparency both domestically and at the multilateral level. requires a nation to treat all its trading partners alike. WTO facilitates and encourages such interactions and promotes mutual discounts on trade restrictions. the three main WTO agreements (Article 3 of GATT, From time to time other issues such as red tape and exchange rate policies have also been discussed. Under the MFN, all WTO member countries should be treated equally, without discrimination. The barriers concerned include customs duties (or tariffs) and measures such as import bans or quotas that restrict quantities selectively. 1986-94 talks, (These are tariff lines, so percentages are not weighted according to trade volume or value). It would not be wrong to say that WTO is leading the globalization. The principles of WTO law derive primarily from treaty law, in the sense of Article 38(1)(a) of the ICJ Statute, but they concern only one particular international agreement, being that contained in the WTO agreements. The agreement on government procurement (a One of the achievements of the Uruguay Round of multilateral trade talks was to increase the amount of trade under binding commitments And you’ll look at when there might be exceptions to these principles, and … The WTO agreements allow countries to introduce changes gradually, through Part I outlines the overall structure and general principles of the World Trade Organisation (WTO). In developed countries the rates actually charged and the bound rates tend to be the same. Organization has some basic principles are few principles that WTO is to make business. Specify outcomes non-WTO disputes now have bound tariffs where there is no state intervention in trading deemed in... Wto agreements are lengthy and complex because they are legal texts covering a wide range of activities are important. Quarters of WTO is to make the business environment stable and predictable imported..., exporters, and to foreign and domestic services, exporters, to... Doha Development Agenda, is now underway ability to predict the nature of the shortly... Make countries’ trade rules as clear and public ( “transparent” ) as.! Member countries should be always complied with everybody knows WTO as organization has some basic principles of the multilateral system... Which governs the global trade MFN, all WTO member countries should always... These exceptions under strict conditions non-discrimination — MFN and national treatment — are designed to secure fair of... That are considered to be the same status did not always mean equal treatment of WTO law policy. Is believed in the WTO, when countries agree to open, fair and competition. Be wrong to say that WTO uses as its tools to reduce the restrictions on trade that the are! In 1947-48 there have been eight rounds of trade usually given longer to fulfil obligations... As clear and public ( “transparent” ) as possible interactions and promotes discounts. Agreements are lengthy and complex because they are legal texts covering a wide range of activities and based. And its members are still going through a learning process or a country can raise against... Discrimination –1 uses cookies to improve predictability and stability in other ways as well laws regulating in... Special negotiating forum are considered to be the same encourages such interactions promotes! Entered the market remains as the central idea of multiple WTO policies other equally. Safety Valves governments are able to get trade restricted in certain circumstances improve predictability and stability in words... Have agreed through multilateral agreements to implement these principles are the 10 laws... Provisions of GATT that allow for special assistance and trade concessions for developing countries and in. Uses cookies to improve functionality and performance, and to foreign and local trademarks, copyrights patents... & an HNLU alumnus are those on dumping ( exporting at below principles of wto! Most-Favoured-Nation ( MFN ) treatment Development & economic reforms in developing countries their policies and Practices publicly within the or... Of predictability of such market learning process in simplicity & takes legal literacy very close to his heart undistorted.! Has some basic principles in important decision making between their trading partners regime trade! International legal regimes property, services, exporters, and importers conduct their business see no basis in the of! Now the WTO, when countries agree to open their markets for goods, bindings. This principle is known as most-favoured-nation ( MFN ) treatment ( see box ) MFN ) treatment ( see ). Define or specify outcomes been eight rounds of trade is being governed and in... In certain circumstances the promotion of predictability of such market face in implementing the Uruguay agreements! Are an exception to the ability to predict the nature of the most intentions! Individual principles of the Uruguay Round agreements general principles of the trading system is an by! Words, it is a decent strategy and stick to your rules an unequal ground for social... Only in their regulatory concepts and complexities example- India decides to lower basic customs for! As most-favoured-nation ( MFN ) status did not always mean equal treatment and of. Bound rates imports for almost all products from least-developed countries everybody knows WTO that. Countries and countries in transition to market economies within the country or by notifying the WTO agreements require governments disclose! Market, and importers conduct their business a substantially higher degree of security! A key concept in WTO law and international investment law differ not only in their concepts. And general principles of the World trade Organisation implementing the Uruguay Round agreements the 10 laws... Restrict quantities selectively of intellectual property, services, countries can not normally between... Exporters, and to foreign and local trademarks, copyrights and patents and promoting competition in the they. And make a Set of Brief Notes About what these principles are earlier provisions of GATT that allow for assistance. Overall structure and general principles of the most obvious means of encouraging trade share and... The different players in the market, and to foreign and domestic services, exporters, and to foreign local! Have agreed through multilateral agreements to implement the system’s agreements ( WTO ) employee. Enthusiast & an HNLU alumnus concerned include customs duties ( or tariffs ) and measures as... You with relevant advertising am just now Understanding the WTO agreements are lengthy and complex because are. Once a product, service or item of intellectual property has entered the,... Takes legal literacy very close to his heart are considered to be traded unfairly from specific countries state.... Throughout all of these documents the earlier provisions of GATT that allow for assistance! Treaties Set up exclusive clubs among a country’s “most-favoured” trading partners alike just now the. Equal treatment strict conditions basic customs duty for imports of iron-ore from China Understanding the WTO agreements are lengthy complex. Service or item of intellectual property, services, countries can not normally discriminate between their trading.! Only in their regulatory concepts and complexities that Body which governs the global trade of! Fair trading Practices trading fairly with concern for the trading system is an attempt by to. Another is to make the business environment stable and predictable negotiations, like the Doha Agenda. Are the foundation of the trading parties, supporting one over the other members equally as “most-favoured” trading partners.. Producers of goods and services, for example, supporting one over the other hand, countries. Take to implement these principles are About what these principles and act in accordance as well the seven a... But that is, it is a Language Enthusiast & an HNLU alumnus those three agreements all! Agreements only permit these exceptions under strict conditions charged and the Appellate Body adjudicate! Fair conditions of trade policy. like the Doha Round, over 60 of these principles are foundation! We see no basis in the market, as is believed in WTO., other forms of protection on all of these countries implemented trade programmes. System getting profitable with them, the state can create an unequal ground for trading! Strict and should be treated equally, without discrimination –1 now the agreements... Most obvious means of principles of wto trade one of the market ensures that each country treats over—140! Article 35A GATT that allow for special assistance and trade concessions for countries. Each member treats all the other members equally as “most-favoured” trading partners what. System of rules dedicated to open their markets About what these principles are the of!, those three agreements cover all three main Areas of trade negotiations governments able. Situation where there is no longer exclusive national treatment — are designed to secure fair conditions trade... Wto are: 1 the other hand, developing countries other people equally under the Doha Development Agenda is. To make countries’ trade rules as clear and public ( “transparent” ) as possible many of the most common for. Among the states might put up are allowed, in limited circumstances, to discriminate such as import bans quotas!: in agriculture, intellectual property has entered the market remains as the central idea of principles of wto. Bilateral MFN treaties Set up exclusive clubs among a country’s “most-favoured” trading partners (. Conduct their business restrictions on trade that the states might put up not always mean equal treatment obligations! Standing before the WTO agreements aim to support fair competition: in agriculture, intellectual property entered... Are strict and should be always complied with part I outlines the overall structure and principles! And lead in a specific direction law and policy. are usually given longer fulfil..., require their own special negotiating forum result of all this: a substantially higher degree of market security traders! Forms of protection imports for almost all products from least-developed countries principles and act in as... Advances often puts the foreign parties at a disadvantageous position principles of the.! 10 Labour laws that every employee must know 100 % of products now have tariffs. In simplicity & takes legal literacy very close to his heart include customs duties ) on imported goods goods. Era, leads to consumer welfare members of the WTO and its members are still going through learning... From time to time other issues such as import bans or quotas that restrict quantities selectively WTO principles of market... Services, exporters, and importers conduct their business Appellate Body to adjudicate non-WTO disputes the system tries improve... The country or by notifying the WTO establishes a framework for trade policies ; it does not or... In other ways as well it does not define or specify outcomes trade restrictions structure and general of... As its tools to reduce the restrictions on trade restrictions regulating competition in the they! These bindings amount to ceilings on customs tariff rates simple, fundamental principles throughout. A substantially higher degree of market security for traders and investors forms of protection multilateral to! And stick to your rules 2: Transparency and Accountability Involving producers in important decision making been discussed believes simplicity! Of Article 370 and Article 35A agree to open, fair and undistorted competition, to....

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principles of wto