1. 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) TRIPS Agreement provides for granting product patents instead of process patents.
(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.
(v) Farmers are depending on the industrial firm for their seeds
2. Agreement on Trade Related Investment Measures (TRIMs)
(i) TRIMs are related to conditions or restrictions in respect of foreign investment in the country.
(ii) It calls for introducing equal treatment for foreign companies on par with national companies. TRIMs were widely employed by developing countries.
3. General Agreement on Trade in Services (GATS)
(i) GATS is the first multilateral set of rules covering trade in services like banking, insurance, transportation, communication, etc.,
(ii) All members countries are supposed to extend MFN (Most Favoured Nation) status to all other countries without any discrimination
(iii) Transparency should be maintained by publishing all relevant laws and regulations over services
4. Phasing out of Multi Fibre Agreement (MFA)
(i) The multi fibre agreement governed the world trade in textiles and garments since 1974.
(ii) It imposed quotas on export of textiles by developing nations to the developed countries
(iii) This quota system was to be phased out over a period of ten years. This was beneficial to India.
5. Agreement on Agriculture (AoA)
(i) Agriculture was included for the first time under GATT.
(ii) The important aspects of the agreement are Tariffication, Tariff cuts and Subsidy reduction.

The main achievements of International Monetary Fund are as follows
i) Establishment of monetary reserve fund:
The Fund has played a major role in achieving the sizeable stock of the national currencies of different countries. To meet the foreign exchange requirements of the member nations, IMF uses its stock to help the member nations to meet foreign exchange requirements.
ii) Monetary discipline and cooperation
The IMF has shown keen interest in maintaining monetary discipline and cooperation among the member countries. To achieve this objective, it has provided assistance only to those countries which make sincere efforts to solve their problems.
iii) Special interest in the problems of UDCs
The notable success of the Fund is the maintenance of special interest in the acute problems of developing countries. The Fund has provided financial assistance to solve the balance of payment problem of UDCs. However, many UDCs continue to be UDCs, while the developed countries have achieved substantial growth.

(i) Bringing stability in exchange rate
The IMF is maintaining exchange rate stability and emphasising devaluation criteria, restricting members to go in for multiple exchange rates and also to buy or sell gold at prices other than declared par value.
(ii) Correcting BOP Disequilibrium
The IMF is helping the member countries in eliminating or minimizing the short-period disequilibrium in their balance of payments either by selling or lending foreign currencies to the member nation.
(iii) Determining par values
IMF enforces the system of determination of par values of the currencies of the member countries. According to the Articles of Agreement of the IMF, every member nation should declare the par value of its currency in terms of gold or US dollars. Under this article, IMF ensures smooth working of the international monetary system, in favour of some developed countries.
(iv) Balancing demand and supply of currencies
IMF is entrusted with the important function of maintaining balance between demand and supply of various currencies. The Fund (IMF) can declare a currency as scarce currency which is in great demand and can increase its supply by borrowing it from the country concerned or by purchasing the same currency in exchange of gold.
(v) Reducing trade restrictions
The Fund also aims at reducing tariffs and other trade barriers imposed by the member countries with the purpose of removing restrictions on remittance of funds or to avoid discriminating practices.
(vi) Providing credit facilities
IMF is providing different borrowing and credit facilities with the objective of helping the member countries. These credit facilities offered by it include basic credit facility, extended fund facility for a period of three years, compensatory financing facility and structural adjustment facility

India and world Bank:
(i) The name "International Bank for Reconstruction and Development" was first suggested by India to the drafting committee.
(ii) Since then the two have developed close relationship with each other from framing the policies of economic development in India to financing the implementation of these policies.
(iii) The World Bank has given large financial assistance to India for economic development.
iv) Special mention may be made of the assistance World Bank has given to India in the development of infrastructure such as electric power, transport, communication, irrigation projects and steel industry.
(v) The IFC has identified five priority areas, namely, capital market development, direct foreign investment, access to foreign markets, equity investments in new and expanding companies and infrastructure.
(vi) The World Bank has also assisted India in accelerating programmes of poverty alleviation and economic development.

(i) To promote the Welfare of the people of south Asia and improve their quality of life.
(ii) To accelerate economic growth, social progress and cultural development in the region.
(iii) To promote and strengthen collective self reliance among the countries of south Asia.
(iv) To contribute to mutual trust and understanding and appreciation of another's problems.
(v) To strengthen co-operation with other developing countries
(vi) To strengthen co-operation among themselves in international forums on matters of common interest.
(vii) To co-operate with international and regional organisations with similar aims and purpose.