Agreement on Trade Related Intellectual Property Rights (TRIPs)
(i) Intellectual Property Rights include copy right, trade marks, patents, geographical indications, trade secrets, industrial designs, etc.
(ii) Intellectual Property Rights include copy right, trade marks, patents, geographical indications, trade secrets, industrial designs, etc.
(iii) The period of protection will be 20 years for patents, 50 years for copy rights, 7 years for trade marks and 10 years for layout designs
(iv) As a result of TRIPS, the dependence of LDCs on advanced countries for seeds, drugs, fertilizers and pesticides has increased. Farmers are depending on the industrial firm for their seeds

i) To ensure reduction of tariff and other barriers.
ii) To eliminate discrimination in trade.
iii) To facilitate higher standard of living.
iv) To facilitate optimal use of world’s resources.
v) To enable the LDCs to secure fair share in the growth of international trade.
vi) To ensure linkages between trade policies, environmental policies and sustainable development.

1. The establishment of the Contingent Reserve Arrangement (CRA) has further deepened and consolidated the partnership of its members in the economic-financial area.
2. In the sixth BRICS summit in Brazil, the member countries, signed an agreement to create a development bank (New Development Bank) with headquarters at Shangai, China in 2015 on the lines of Asian Development Bank and the World Bank. 
3. The economic potential and demographic development are putting the BRICS countries, increasingly in a leading position in setting the global agenda and having a greater say in the global governance.

The main functions of SAARC are as follows.
1) Maintenance of the cooperation in the region.
2) Prevention of common problems associated with the member nations.
3) Ensuring strong relationship among the member nations.
4) Removal of the poverty through various packages of programmes.
5) Prevention of terrorism in the region.

Inclusive growth, Trade issues, Global governance, Shared Prosperity, International peace and security.

(i) It is a multinational legal or trade agreements between countries.
(ii) It is an agreement between more than two countries but not many.

1. Basic Credit Facility
2. Extended Fund Facility
3. Compensatory Financing Facility
4. Buffer Stock Facility
5. Supplementary Financing Facility
6. Structural Adjustment Facility

(i) Trade blocks cover different kinds of arrangements between or among countries for mutual benefit.
(ii) Free Trade Area, Customs Union, Common Market and Economic Union.

(i) South Asian Association for Regional Co-operation (SAARC)
(ii) Association of South East Asian Nations (ASEAN)
(iii) BRICS; Free Trade Area, Customs Union, Common Market and Economic Union.

1) Use of restrictive measures for BoP problems has declined markedly;
2) Services trade has been brought into the multilateral system and many countries, as in goods, are opening their markets for trade and investment;
3) The trade policy review mechanism has created a process of continuous monitoring of trade policy developments.