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MGT601 - SME Management - Lecture Handout 39

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The emergence of World Trade Organization (WTO) in 1995, as a result of Uruguay Round of negotiations of GATT, marks a watershed in the history of international trade. GATT, the predecessor of WTO, was established by 23 countries in 1948, which liberalized the trade and created an environment that enabled the evolution of WTO is much wider as compared to GATT. It encompasses areas like textile, agriculture, services and intellectual property etc. that were excluded in the GATT.

The main guiding principles of WTO are: non-discrimination among the members in stipulation of favours regarding market access and tariff reductions provision of national treatment to foreign investors, imported goods and services stability and predictability of international trade patterns to promote confidence of investors and businesses by bounding the tariffs and market access for services; and promotion of economic development by encouraging reforms in the less developed and transition economies.

To ensure that trade is as fair as possible and as free as practical WTO has a large number of agreements that are the result of negotiations among member states. The current sets of agreements are the outcome of 1986-94 Uruguay Round negotiations. Through these agreements WTO members operate a non-discriminatory trading system that spells out their rights and obligations. Important agreements are of goods, agriculture, textile and clothing, subsidies and countervailing measures, antidumping, safeguard measures, TRIMs, customs valuation, dispute settlement, technical barriers to trade, sanitary and phytosanitary measures, GATS and TRIPs.

These agreements resulted in considerable reduction in tariffs in member countries and increased market access for developing and developed countries.

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MGT601 - SME Management - Lecture Handout 36

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Measures to Implement

Measures to implement the Programme of Action include the organization of international meetings in the field of appropriate industrial technology, the establishment of a consultative group on appropriate industrial technology and the monitoring and analysis and follow up for appropriate choice of technology presupposes the existence of alternative technologies for production and knowledge and information about them. One of the first tasks is to enlarge the flow of available information. With this in view the evaluation and comparison of alternative industrial technologies will be merged for selection. This information made available should be fed into the Industrial And Technological Information Bank.

Available Information

Available information on technologies could also be enlarged through the systematic identification of technologies including the traditional ones available in developing countries themselves. With this input projects can be initiated through national research institutes, systematic survey of indigenous technologies in selected branches. The surveys are expected to bring out material on the basis of which some of the existing technologies could be upgraded and some others could be transferred for adoption by other countries. It will also provide it methodology for systematic action by the research institutes in the elaboration of their research programs.

Methods of Integrating Science & Technology in Economic & Social Development

The rapid and fruitful application of industrial technology to industrial development could be achieved only if the attempts to promote appropriate industrial technology are part of the main stream of industrial development and not apart from it. To reach this goal by stimulating policy and decision makers, enterprises and research institutes for promoting the application of appropriate industrial technology; stimulating suppliers of technology and equipment in industrialized countries to undertake the necessary adaptation and redesign to suit the needs of developing countries; stimulating government and donor agencies in industrialized countries and in developing countries with sufficient financial resources at their disposal to allocate more funds to co-operative programs on appropriate technology; mobilizing existing research capacity in research organizations, universities, private enterprises and particularly small companies and individual investors so as to promote the adaptation of available technologies and the development of new technologies where necessary.

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