Q.42
Which of the following is related to tarrification of all non-tariff barriers?
- WTO Agreement on Agriculture (AoA) - Market Access Pillar:
- The Agreement on Agriculture (effective January 1, 1995 under the WTO) rests on three fundamental pillars: Market Access, Domestic Support, and Export Competition.
- Tariffication: A cornerstone rule under the Market Access pillar requiring all member countries to abolish non-tariff barriers (quantitative import quotas, discretionary import licensing, variable import levies, and voluntary export restraints) and convert them into equivalent transparent bound customs tariffs (tariff-rate quotas - TRQs).
- Distractors:
- Aggregate Measurement of Support (AMS): Quantifies trade-distorting domestic support under the Amber Box.
- Export Subsidies: Direct financial assistance given to export goods, phased out under the Export Competition pillar.
- TRIPS: Trade-Related Aspects of Intellectual Property Rights, an entirely separate WTO agreement.
Correct option: (1) Market access commitment
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