Question

II. Glossary explanation. (25%) 1. Green Box (Agreement on 2. Cross-border Supply (GATS) 4. Domestic Industry (Safeguard Agreeme Agriculture) 3. Customs valuation 5. Specificity (Agreement on Subsidies and Countervailing Measures)

Answer 1

Green box refers to subsidies provided to farmers irrespective of theirincomes and forms direct support to their incomes funded by government if farmers comply with the rules laid out.

Cross border supply is phenomenon in which supply of services takes into account from one members territory to another members territory as per the General Agreement on Trade and Service.

The assignment of monetary value to good or service or value determination by custom authorities is termed as custom valuation through which taxes like VAT and Customs duty can be calculated.

Domestic industry refers to producers or manufacturers who have been manufacturing goods within their nation of residence and selling them in that geographical area.

Specificity is classification of subsidies like enterprise specificity, industry specificity, regional specificity dorected for specific purpose.