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Importance of WTO in India : : International Orgnisations in India
- It was constituted on 1st January, 1995 and took the place of GATT ( General Agreement on Tariffs and Trade ) as an effective formal organization. GATT was an informal organization which regulated world trade since ( 1948 ).
- Its head – quarter is at Geneva. Pascal Lamy is the present Director-General of WTO.
- The present Membership of WTO is 153.
- The highest authority of policy making is WTOs Ministerial Conference which is held after every two years.
|Third||1999||Seattle ( USA )|
|Fourth||2001||Doha ( Qatar )|
- To provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.
- To provide a platform to member countries to decide future strategies related to trade and tariff.
- To administer the rules and processes related to dispute settlement.
Asian Development Bank ( ADB ) India.
- It was established in Dec 1966 on the recommendations of ECAFE ( Economic Commission for Asia and Far East ).
- The aim of this bank is to accelerate economic and social development in Asia and Pacific region.
- The head office of the bank is located in Manila, Philippines.
- The ADB finances and gives technical assistance for development projects and programs; encourages public and private capital investment for development purposes and helps in coordinating development policies and plans of developing member-countries.