Global Food Trade in a Rule Based System

Abstract

A rule-based regime of international trade is built upon norms of equality and non-discrimination. It helps maintain equity in international trade by the observance of principles such as that of Most Favoured Nation and National Treatment. A closer inspection of the sector wise international trade practices of nations suggests that there are deviations from the rule-based mechanism of World Trade Organisation. This detrimentally impacts the balance of trade. This research article analyses the application of the rule-based regime of the World Trade Organisation with special reference to instances of inequalities in regulations imposed on trade in food products in the context of India and other developing countries. The paper concludes with an analysis of the plausible reasons for the rejection of exports from developing countries and suggests the need for the rectification of such inequalities.