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The Institutional Dimension of World Trade in Agricultural Commodities: An Overview

Abstract: 

Economic development of developing countries is hampered by agriculture. Agricultural development itself is hampered by what has happened in the world trade. Therefore, this paper intends to examine the role that world trade played in increasing poverty in developing countries. The institution of supranational organizations such as ITO, GATT, UNCTAD, and WTO and their respective principles rules and objectives were to bring about fair world trade. The self-interests of the industrialized nations in trade policy however, hindered the success in reform measures. Whereas many developing countries in recent years have opened their markets, including in the agricultural sector, under the pressure of the WTO negotiations and structural adjustment programmes, the North still keeps its markets closed and distorts the market even more by huge subsidies to promote its own agricultural sectors. Arguments related to globalization, free trade, liberalization, tariff reductions, ratification of non-tariff barriers, special safeguard, market access, subsidies reduction to domestic producers, export subsidies reductions and pressures from WTO, World Bank and IMF are all in the final analysis to keep developing countries trade open.The loopholes in trade rules and tricks used to block the agricultural exports of developing countries have slowed the rate of changes toward fair trade, allowed the continuity of the disadvantages and increased the economic gap between rich and poor countries. All these ideas and practice develop a new curiosity and an urgent fresh examination of trade policies and organizations. Developed countries than simply making rhetoric about development of developing countries, it is the time for them to take some real steps to words it. Developing countries also need to collective self-reliance and unity of thought and action as the option to the economies that are being marginalized in an ever-changing world

Corporate Author: 
Alemayehu Seyoum(Editor) & Ethiopian Economic Association/Ethiopian Economic Policy Research Institute
Publisher: 
Ethiopian Economic Association (EEA)
Primary Descriptors: 

World Trade Organization; Agricultural trade

Secondary Descriptor: 

Produce trade

Cataloge Date: 
02/27/2013
Broad Subject heading: 
AGRICULTURAL SECTOR DEVELOPMENT
Call Number: 
330.963 PRO 2004
Serial Key Title: 
Proceedings of the First International Conference on the Ethiopian Economy
Publication catagory: 
Content type: 
Volume: 
II
Publication date: 
2013-05-27 23:04:00
Forum or Discussion date: 
2013-02-27 14:55:39
Place of publication: 
Addis Ababa, Ethiopia
Type of material: 
Book
Current frequency: 
Annualy