BANKING AFFAIRS

Detailed explanation-1: -The Doha Round is the latest round of trade negotiations among the WTO membership. Its aim is to achieve major reform of the international trading system through the introduction of lower trade barriers and revised trade rules.

Detailed explanation-2: -The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus facilitate increased global trade.

Detailed explanation-3: -The November 2001 declaration of the Fourth Ministerial Conference in Doha, Qatar, provides the mandate for negotiations on a range of subjects, and other work including issues concerning the implementation of the present agreements. The negotiations take place in the Trade Negotiations Committee and its subsidiaries.

Detailed explanation-4: -One of the focus points of Doha Round was to put the development of the developing and lesser developed countries at the heart of the trade negotiations. Special and differential treatment for the developing countries made the core of the Doha Development Agenda.

Detailed explanation-5: -The Doha Round of world trade negotiations was launched in Doha, Qatar in November 2001. At the 10th WTO Ministerial Conference in December 2015, WTO members agreed on a number of significant issues within the Doha Development Agenda and outlined the way forward in WTO negotiations.