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IV.Answer the following questions. (55%) 1. What are the three pillars of Agreement of Agriculture? What does each pillar do
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Answer #1

The three pillars of agreement of agriculture are namely and their reasons for preventing free flow of international trade are:

  1. Domestic support which minimises trade distortion and provides excessive compliance protocols
  2. Market acess which reduces trade barriers within WTO members
  3. Export subsidies which have to be reduced over course of time to reduce free flow of international trade

The export price in an anti dumping agreement is calculated after determination of normal value of the good being sold and its constructed export price.

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