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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.

Question:

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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