With reference to World Trade Organization WTO consider the following statements Currently public di...........

Economic and Social Issues Liberalization, Privatization and Globalisation

With reference to World Trade Organization (WTO), consider the following statements

Currently, public distribution programmes of developing countries are included under Amber Box.
The Trade Policy Review Mechanism (TPRM) was the result of the Uruguay Round multilateral trade negotiations.

Select the correct statement.

1 only

2 only

Both

None

Recently, the final session of India’s seventh Trade Policy Review (TPR) concluded at the World Trade Organization (WTO) in Geneva, Switzerland.

The TPR is an important mechanism under the WTO’s monitoring function in which member countries’ trade and related policies are examined by the WTO with an aim to contribute towards improved adherence to WTO rules.
Currently, public distribution programmes of developing countries are included under trade-distorting Amber Box measures that attract reduction commitments of WTO.
India with the group of developing countries is demanding that the programmes for food security purposes be exempted from subsidy reduction commitments of WTO.
India has repeatedly demanded a permanent solution for public stockholding issues.
The Trade Policy Review Mechanism (TPRM) was an early result of the Uruguay Round.
The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1993 and embracing 123 countries as "contracting parties".
It is the main transparency instrument of the WTO, affording opportunities for a process of collective evaluation of the trade policies and practices of individual members.

Hence both statements are correct.