A PROJECT REPORT ON

“RECENT TRENDS IN GLOBAL TRADE”

SUBMITTED

TO THE UNIVERSITY OF MUMBAI

AS A PARTIAL REQUIREMENT FOR

COMPLETING THE DEGREE OF

M.COM (BANKING AND FINANCE) SEMESTER I

SUBJECT: ECONOMICS OF GLOBAL TRADE AND FINANCE

SUBMITTED BY:

DILSHAAD SHAIKH

ROLL NO: 42

UNDER THE GUIDANCE OF

MRS.NEELIMA DIWAKAR

SIES COLLEGE OF COMMERCE AND ECONOMICS,

PLOT NO. 71/72, SION MATUNGA ESTATE

T.V. CHIDAMBARAM MARG,

SION (EAST), MUMBAI – 400022.

CERTIFICATE

This is to certify that Miss DILSHAAD .SHAIKH

__________________________________________________________

of M.Com (Banking and Finance) Semester I (academic year

2014-2015) has successfully completed the project on

RECENT TRENDS IN GLOBAL TRADE under the

Guidance of Dr. NEELIMA DIWAKAR

________________ ___________________

(Project Guide) (Course Co-ordinator)

___________________ ___________________

(External Examiner) (Principal)

Place:MUMBAI

Date: 30/9/2014

DECLARATION

I,DILSHAAD_S.SHAIKH________________________________________Student M.Com (Banking and Finance) Semester I (academic year

2014-2015) hereby declare that, I have completed the project on

“RECENT TRENDS IN GLOBAL TRADE”

The information presented in this project is true and original

to the best of my knowledge.

Place: MUMBAI

Date:3O/9/2014

___________________

Name:DILSHAAD SHAIKH

Roll No.: 42

ACKNOWLEDGEMENT

I would like to thank the University of Mumbai, for introducing M.Com

(Banking and Finance) course, thereby giving its students a platform to be

abreast with changing business scenario, with the help of theory as a base and

practical as a solution.

I am indebted to the reviewer of the project ,Dr. Neelima Diwakar my

project guide who for her support and guidance. I would sincerely like to thank

her for all her efforts.

Last but not the least; I would like to thank my parents for giving the best

education and for their support and contribution without which this project

would not have been possible.

______________________

Name :DILSHAAD SHAIKH

Roll no:42

EXECUTIVE SUMMARYInternational trade is integral to the process of globalization. Over many years, governments

in most countries have increasingly opened their economies to international trade, whether

through the multilateral trading system, increased regional cooperation or as part of domestic

reform programmes. Trade and globalization more generally have brought enormous benefits

to many countries and citizens. Trade has allowed nations to benefit from specialization and

economies to produce at a more efficient scale. It as raised productivity, supported the spread

of knowledge and new technologies, and enriched the range of choices available to

consumers. But deeper integration into the world economy has not always proved popular,

nor have the benefits of trade and globalization necessarily reached all sections of society.

Trade scepticism is on the rise in certain quarters, and the purpose of this year’s core topic of

the World Trade Report, entitled “Trade in a Globalizing World”, is to remind ourselves of

what we know about the gains from international trade and the challenges arising from higher

levels of integration.

Some countries and economic sectors have been able to take advantage of these structural

changes better than others. In the first decades after World War II, Europe and Japan were

important beneficiaries of globalization as they sought to restructure their economies. In more

recent years, newly industrializing economies have been among the major winners from

increasing economic integration. A long-term shift in the composition of world merchandise

trade has occurred, with the share of manufactured goods rising dramatically, against a

decline in agricultural products and non-fuel minerals. The domination of developed

countries in world exports of manufactures has been greatly diluted, first in labour-intensive

goods (such as textiles and clothing) and subsequently in electronic products and capital-

intensive goods (such as automotive products).Global trade growth was less dynamic after

the oil crisis of 1973, while migration and foreign direct investment (FDI) flows accelerated,

especially from the mid-1980s onwards. Migration differed between the two globalization

periods referred to above, as many earlier sources of emigration (especially Western Europe)

became destination points. South to North migration flows increased in importance, while

South-South flows continued.Capital flows have always played a prominent role in the

globalization process. In the last few decades liberalization and deregulation have contributed

strongly to a surge in FDI flows.

INDEX

SR.NO TOPICS PAGE-NO

I INTRODUCTION 1-2

2 THE GLOBAL CONTEXT 3-7

2.1 THE SWISS CONTEXT

2.2 THE POLITICAL ENVIRONMENT

3 RECENT TRENDS IN WTO NEGOTIATIONS 8-23

3.1 THE NEGOTIATION ON INDUSTRIAL GOODS

3.2 THE AGRICULTURE NEGOTIATION

4 BILATERAL TRADE AGREEMENTS WITH

DEVELOPING COUNTRIES

24-27

4.1 INTELLECTUAL PROPERTY PROVISION IN

EFTA AGREEMENT

5 CLIMATE CHANGE AND TRADE 28-32

5.1 AGRICULTURE TRADE & CLIMATE CHANGE

5.2 THE FOOD MILES DEBATES

5.3 THE LIBERALISATION OF ENVIRONMENTAL

GOODS & SERVICES

5.4 INTELLECTUAL PROPERTY RIGHT AND

TRANSFER TECHNOLOGY

6 HIGHLIGHTS 33

7 CONCLUSION 34-35

8 BIBLIOGRAPHY 36