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)

Place:MUMBAI
Date: 30/9/2014

(Principal)

DECLARATION

I,DILSHAAD_S.SHAIKH________________________________________S
tudent 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.

___________________
Name:DILSHAAD
SHAIKH
Roll No.: 42
Place: MUMBAI
Date:3O/9/2014

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 SUMMARY
International 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 years 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 capitalintensive 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
2

INTRODUCTION
THE GLOBAL CONTEXT

1-2
3-7

2.1
2.2
3
3.1
3.2
4
4.1

DEVELOPING COUNTRIES
INTELLECTUAL PROPERTY PROVISION IN

5.1
5.2
5.3

EFTA AGREEMENT
CLIMATE CHANGE AND TRADE
AGRICULTURE TRADE & CLIMATE CHANGE
THE FOOD MILES DEBATES
THE LIBERALISATION OF ENVIRONMENTAL

5.4

GOODS & SERVICES

INTELLECTUAL PROPERTY RIGHT AND

6
7
8

THE SWISS CONTEXT

THE POLITICAL ENVIRONMENT
RECENT TRENDS IN WTO NEGOTIATIONS
THE NEGOTIATION ON INDUSTRIAL GOODS
THE AGRICULTURE NEGOTIATION
BILATERAL TRADE AGREEMENTS WITH

TRANSFER TECHNOLOGY
HIGHLIGHTS
CONCLUSION
BIBLIOGRAPHY

8-23
24-27

28-32

33
34-35
36