Afghanistan joined WTO on 29^th July 2016.

The last country to join the WTO is Afghanistan. Countries who got membership are accessions whereas those who are having negotiations are ‘observers.

Which of the following South Asian nation is not a member of WTO?

Darjiling Tea was the first item. As on January 1, 2020, there are 361 items that have got the GI tag. Aranmula Kannady was the second item. Office of the Controller General of Patents, Designs and Trademarks sanctions GI.

The UNCTAD publishes World Investment Report whereas the IMF has World Investment Outlook. The IMF also publishes Global Financial Stability Report. The World Bank publishes World Development Report and also the Global Economic Prospects. World Trade Report is published by the WTO.

Open economy is a situation where the country is making free trade with the rest of the world (goods, services and capital).

Russian Federation — 22^nd August 2012.

China became member on 11^th December 2001.

There were 128 members that ratified the GATT agreement in 1995, including India. India became the member of GATT on India 8 July 1948 and became member of the WTO on 1^st January 1995. Switzerland joined GATT on 1^st August 1966 and hence is a member of WTO from 1995 onwards.

Bhutan has given an observer status and hence it is not a member of the WTO. Nepal became a member on 23^rd April 2004. Countries who got membership are accessions whereas those who are having negotiations are ‘observers.

World Trade Report is published by WTO.

‘The future of world trade: How digital technologies are transforming global commerce’ is the theme of WTR 2018

‘Trade, Technology and Jobs’ is the theme of WTR 2017.

‘Can Blockchain Revolutionize International Trade’ is a research publication of the WTO.

The Appellate Body has its seat in Geneva, Switzerland. It is a part of the WTO’s Dispute Settlement Mechanism.  WTO’s headquarter is also at Geneva.

The Appellate Body has been created by the Dispute Settlement Body as a standing tribunal to hear appeals from WTO panel reports

The appellate body should have seven judges.

Currency war means a country manipulating its exchange rate to realize more exports.

Currency war is a situation where countries keep their currencies undervalued currency by buying large quantity of foreign currencies from the foreign exchange market. Heavy purchase of foreign currencies will make its price high and thus depreciation is produced. The objective of such a strategy is to increase exports and reduce imports.

In the case of IMF, the voting power depends upon quota. The US is the largest quota holder and it has around 16.30 % of the voting power. In the IMF, to pass a resolution, 85% of votes is needed. In this respect, the US enjoys an implicit veto power.

In the case of WTO, one country has one vote.