Describe the major issues in the world trade highlighting the growing popularity of regional arrangements, globalization, electronic commerce and environment. Also outline briefly the recent trends in world trade.
Regional arrangements:
The foreign ministers of the seven South Asian countries during the inaugural session signed two conventions. One on preventing and combating trafficking in women and children for prostitution and the other on regional arrangements for the promotion of child welfare in South Asia. Trafficking of women and children, and child welfare, have remained a common problem to the South Asian region, home to one-fifth of the world population. Expressing hope that the signing of the conventions would contribute in welfare of women and children, Prime Minister Sher Bahadur Deuba laid foremost priorityon poverty reduction in the region where more than half a billion people earn less than $1 a day. “We must expand production and markets, increase trade, raise incomes and consumption, as well as pro-poor policies,” he said. Deuba highlighted the need to empower people with better education
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