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WTO signs landmark deal after nearly a Decade

Published on June 17, 2022
Current Context: The World Trade Organization has signed agreements at the 12th ministerial conference and it is the first major agreement in nine years.
WTO signs landmark deal after nearly a Decade
  • The series of trade deals include pledges on food security, the balanced outcomes on fisheries subsidies, and response to pandemics.
  • Apart from that India defended its right to extend subsidies to its fishermen, and fisheries.
  • India also agreed to an 18-month extension of the moratorium on customs duty on electronic imports that, it argues, favours rich nations.
  • The deal on patent waiver on covid-19 vaccines will allow India and other eligible developing countries to manufacture and export vaccines without seeking permission from the original maker.
  • Apart from that the two contentious clauses that proposed a ban on overfishing subsidies within seven years have been struck off.
  • It includes the elimination of harmful subsidies to stop illegal, unreported, and unregulated fishing activities.
  • The agreement also mentions that the current moratorium on customs duty on digital imports will continue till 31 December 2023.


Q.1 As per the recent WTO agreement the main focus of the trade deals has been given to which of the following sector?
a. Agriculture
b. Fisheries
c. Fertilizers
d. Export & Import
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