International Organizations (Part – III)

India has ratified the new Trade Facilitation Agreement (TFA) of WTO in April, 2016. Concluded at the WTO's 2013 Bali Ministerial Conference, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. The TFA would have to enter into force once two-thirds of the WTO membership has formally accepted the Agreement. India was the 76th WTO member to accept the TFA. The WTO's TFA came into force in February, 2017 after its ratification by two-third of the WTO membership.

The WTO Agreement on 'Trade-Related Aspects of Intellectual Property Rights' (TRIPS) is the most comprehensive multilateral agreement on Intellectual Property (IP). It plays a central role in facilitating trade in knowledge and creativity and in resolving the trade disputes over IP. TRIPS covers the following forms of Intellectual Property Rights: 1. Copyright and related Rights, 2. Trade Marks, 3. Geographical Indications, 4. Industrial Designs, 5. Patents, 6. Layout-Designs (Topographies) of Integrated Circuits, 7. Trade Secrets. Labour standards is not included in Intellectual Property (IP). TRIPS agreement came into force on 1 January, 1995.

Plant breeding is not included in TRIPS agreement for granting protection. Trade Marks, Layout-Designs of Integrated Circuits, Geographical Indications, Patents, Trade Secrets and Copyrights are included in TRIPS for granting protection.

An intangible asset is an identifiable non-monetary asset, without physical substance, held for use in the production or supply of goods or services, for rental to others, or for administrative purposes. Intangible assets includes brand recognition, goodwill, customer lists, mortgage servicing rights, franchises, customer or supplier relationships, customer loyalty, and intellectual properties like trademarks, patents, and copyrights etc. Investment in these are considered as intangible investments.

A tangible asset is an asset that has physical substance. They are typically physical assets or property owned by a company, such as buildings, rolling stock, inventory, manufacturing equipment or machinery, and office furniture etc. Hence, option (c) is the correct answer.

In May 2016, the Union Cabinet approved the 'National Intellectual Property Rights (IPR) Policy' that will lay the future road map for intellectual property in India. The IPR policy recognizes that India has a well-established TRIPS- compliant legislative, administrative and judicial framework to safeguard IPRs and it reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement. The action towards objectives of IPR policy by different Ministries/Departments shall be monitored by Department of Industrial Policy and Promotion (Now Department for Promotion of Industry and Internal Trade), which shall be the nodal agency to coordinate, guide and oversee implementation and future development of IPRs in India.

India has ratified the new Trade Facilitation Agreement (TFA) of WTO in April, 2016. Concluded at the WTO's 2013 Bali Ministerial Conference, the TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. The TFA would have to enter into force once two-thirds of the WTO membership has formally accepted the Agreement. India was the 76th WTO member to accept the TFA. The WTO's TFA came into force in February, 2017 after its ratification by two-third of the WTO membership.

The Geographical Indications of Goods (Registration and Protection) Act, 1999 (GI Act) is an Act of the Parliament of India for protection of geographical indications in India. India, as member of the WTO (World Trade Organization), enacted the Act to comply with the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (WTO-TRIPS), Geographical indications are covered as an element of IPRs (Intellectual Property Rights) under the WTO-TRIPS Agreement.

A Geographical Indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to its origin. Gls are typically used for agricultural products, foodstuffs, wine and spirit drinks, handicrafts and manufactured goods. So, statements 3rd is not correct.

A Trade Mark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trade Marks are protected by IPRs (Intellectual Property Rights). It is an individual or a company's right which can be licensed. The GI is a community's right originating from a definite geographical territory and it is licensed but has to be registered with Registrar of Geographical Indications. Therefore, statement 1 and 2 are correct.

As per the Agreement on Agriculture (AOA) of the WTO, it was necessary to reduce (from the establishment of WTO) the export subsidy provided by developed countries to agriculture by at least 36% (by value) or by 21% (by volume) over six years (from 1986-1990 levels). For developing countries, the agreement required cuts were 24% (by value) and 14% (by volume) over ten years. For domestic support policies, subject to reduction commitments, the total support given in 1986-88, measured by the Total Aggregate Measure of Support (total AMS), had to reduced by 20% in developed countries and 13.3% in developing countries within six years and ten years respectively. Hence, statement is wrong while reason is correct.

'Agreement on Agriculture', 'Agreement on the Application of Sanitary and Phytosantiary Measures' and 'Peace Clause' are related to World Trade Organization.