Six Key Nations of WTO

Though Lamy is out on a visit to the six key nations of WTO (first being Japan) to discuss and settle fairer trading conditions, chances of being in time are slim. The Cancun Ministerial – the WTO’s highest decision making body – fell apart in just four days in 2003. Though everybody knows why things are failing, WTO members could never reach a consensus. The issue of the US agricultural subsidies and the European Union’s Common Agricultural Policy has always been at the core of split between the developed and developing nations. Noticeable here is the deadline of December 2006 and hopes for reaching a deal by 2007, after which the US fast track legislation expires. It means that after 2007, it would be harder to get ratification on any deal from the US Senate. Before the WTO falls, member nations must either disband it or respect it. Time is going by. Speed is of essence.

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy,

Initiative:- Prof. Arindam Chaudhuri

Joint Study by the Swiss and American Commerce Ministries

As per a joint study by the Swiss and American commerce ministries, Switzerland ranks the highest in terms of attracting FDI; much ahead of its EU counterparts. It takes 6 procedures and around 20 days to start up a business in Switzerland. Major global giants like Compaq, Intel & Philip Morris, and over a thousand other international firms, have their offices in the country. The array of its own MNCs is no lesser. Companies like Nestlé (the world’s largest FMCG company), Novartis (formerly Ciba Geigy & Sandoz), Schindler (now America’s largest elevator firm), Sulzer (one of the world’s largest infrastructure corporations), Credit Suisse (globally, the third largest bank), Swatch Group (world’s largest watch conglomerate with brands like Omega, Rado et al), ABB (Asea Brown Boveri), UBS (fourth largest bank across the globe), Swisscom et al allow Switzerland to be at the forefront of even the Fortune 500 list.

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

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