Biotechnology, GMOs and development - economic implications.

The practice of biotechnology in its varied forms, varying in style, substance and scale, reveals shared histories with the planet’s peoples and cultures in the developed and developing worlds. Biotechnology has a long history. Old as the growing of crops and the making of cheese and the production of wines, its practice has been described as one of the oldest professions in the world. Modern Biotechnology, in general, embraces more often the principles and practise of genetic engineering. Several other terms such as genetic engineering; genetic transformation; transgenic technology, recombinant DNA technology, and genetic modification (GM) technology have been used to describe the applications of this form of modern biotechnology.