UPSC Prelims 1997·GS1·economy·open economy

One of the important agreements reached in the 1996 Ministerial Conference of WTO relates to

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  1. ACommerce in Information TechnologyCorrect
  2. BMultilateral Agreement on Investment
  3. CMulti-fibre Agreement
  4. DExchange of Technical Personnel

Explanation

The correct answer is A because the first WTO Ministerial Conference held in Singapore in 1996 led to the Information Technology Agreement. This agreement aimed to eliminate duties on an extensive range of high technology products like computers, telecommunication equipment, and software. Option B is incorrect because the Multilateral Agreement on Investment was negotiated within the OECD, not the 1996 WTO conference. Option C refers to an older system of textile quotas that predates this conference and was being phased out by the Agreement on Textiles and Clothing. Option D was not a central focus or a major formal agreement of the Singapore Ministerial. Therefore, the Information Technology Agreement remains the most significant outcome of the 1996 meeting.
economy: One of the important agreements reached in the 1996 Ministerial Conference of WTO relates to
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