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Daily Current Affairs – 2020
Topic: For Prelims and Mains
Trade Policy Review (TPR)
Why in News?
India’s seventh Trade Policy Review (TPR) began recently in January 2021, at the World Trade Organization in Geneva.
The TPR is an important mechanism under the WTO’s monitoring function, and involves a comprehensive peer-review of the Member’s national trade policies.
India’s last TPR took place in 2015.
About The Trade Policy Review Mechanism (TPRM):
The Trade Policy Review Mechanism (TPRM) is the instrument of transparency of the World Trade Organisation (WTO).
It was founded at the Montreal Mid-Term Review of the Round in December 1988 to adhere the inherent value of domestic transparency of government decision making in the multilateral trading system.
Objectives of Trade Policy Review Mechanism (TPRM):
It enables the regular collective appreciation and evaluation of the full range of individual Members’ trade policies and practices and their impact on the functioning of the multilateral trading system. It is not, however, intended to serve as a basis for the enforcement of specific obligations under the Agreements or for dispute settlement procedures, or to impose new policy commitments on Members.
The assessment carried out under the review mechanism takes place, to the extent relevant, against the background of the wider economic and developmental needs, policies and objectives of the Member concerned, as well as of its external environment.
Review Process of Trade Policy Review Mechanism (TPRM)
The reviews parameter and frequency depends on the member’s share in world trade.
The four largest traders like European Union, United States of America, China and Japan are reviewed every two years; next 16 largest traders like Australia are reviewed every two years and rest members are reviewed every six years.
Facts for Prelims
Asian Water bird Census:
The two-day Asian Water bird Census – 2020 has been launched in Andhra Pradesh.
About Asian Aquatic Bird Census (AWC):
The Asian Water Birds Census-AWC is an annual program under which thousands of volunteers in Asia and Australia count waterfowl / water birds in their country’s wetlands.
This program is organized every year in January.
It is organized by Wetlands International and is an integral part of the global waterbird monitoring program (The International Waterbird Census – IWC).
This program was started in the year 1987.
It mainly focuses on monitoring the condition of water birds and wetlands.
In India, the Asian Aquatic Bird Census (AWC) is conducted annually by the Bombay Natural History Society (BNHS) and Wetlands International.