Protest Movements against WTOas Ministerial Conferences: A Case Study of Nairobi Ministerial Conference

Abstract

Developed countries have played a dominant role in the process of globalization. The terms of exchange and trade practices have remained skewed, with the developed states successfully rigging the rules despite the regime of open trade practices resulting from the establishment of the WTO regime. Developed countries are core members of international institutions (WTO, IMF and WB) and they have largely determined policies of these institutions till date. The provisions of the WTO are likely to produce a mixture of positive and negative consequences in the context of developing countries economy. There are some issues under the Agreement of Agriculture which are concern for developing countries. The repercussions of the WTO Agreement and the removal of Quantitative Restrictions on imports are quite alarming. The fall in the prices of agricultural goods and dumping of cheap agriculture commodities from other countries is causing harm to the welfare of developing countries farmers. Developed countries have imposed heavy tariffs to minimize imports, whereas in like India tariffs are low. The continuation of high domestic support to agriculture in developed countries is a cause of concern.