9. MAJOR HIGHLIGHTS OF URUGUAY ROUND: Agreement on agriculture: deals with 3 aspects of agriculture namely trade in agriculture,goods and agriculture policies. The members have to substitute non-tariff barriers like quotas by tariff measures. Agreement on trade in textiles and clothing: the member nations have to phase out import quotos on textiles and clothing over a period of ten years.
10. Agreement on trade related investment measures: under this, the agreement has provided for the removal of restrictions on foreign investment. Agreement on trade related intellectual property rights: it refers to patent right, copy right etc. in the earlier years certain items like food, medicine, drugs and chemical products were given only process patents and now they are given product patents also.
11. Agreement on services: many countries have restrictions on entry of foreign sector in finance, media, transport etc. to promote international trade, it was argued that services should also be free from barriers. Dispute settlement body: it is constituted for the settlement of disputes without any delay. A time limit of 18 months has been given to this body to settle the disputes between member countries.
![INTRODUCTION WORLD TRADE ORGANISATION(WTO):- ,[object Object], is the only global international organisation dealing with the rules of trade between nations.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)