Download - World trade organisation1
• The WTO’s precedes or the general agreement on tariffs and trade(GATT),was establish after world war II in the wake of other multilateral institutions dedicated to International economic corporation.
• GATT was the only multilateral instrument governing international trade from 1948 until the WTO was established on January 1,1995.
oThe World trade organization is an organization that intends to supervise and liberalize international trade
oWTO was officially commenced on january 1, 1995
oWTO was created by uruguay round negotiation (1986-94).
There are total 160 member countries
Budget 196 million Swiss francs (approx. 209 million US$) in the year 2011.
Currently there are total 629 staff members are present in WTO.
Cont.
MembersMembers, dually represented by the European Union
ObserversNon-members
Map of World Trade Organization members and observers
WTO
• Promote trade flows by encouraging nations to adopt non discriminatory and predictable trade policies.
• Raising standard of living and income.
• Introduce sustainable development.
Helping developing and transition economics
Specialized help for Export
WTO In In Global Economic Policy-Making
Acting as a watchdog of international trade.
Giving information to Public
Cooperating with other international institutions involved in global economic policy making.
Acting as a management consultant for world trade.
Technical assistance and training for developing countries.
Cont.
PRINCIPLES OF WTO
PRINCIPLES OF WTO
Trade without Discrimination
Freer Trade-Gradually, through
Negotiation
Predictability –through Binding
and Transparency
Promoting Fair Competition
Encouraging Development and Economic
Reform
ORGNISATIONAL STRUCTURE
General Council
Council for Trade
in Goods
Council for Intellectual
Property Rights in Trade
Council for Trade
In Services
GC: Dispute
Settlement Body
GC: Trade Policy
Review Body
Ministerial Conference
Committee on
Budget
CommitteeOn trade & developme-
nt
Trade-related intellectual property rights council
Council for
goods
Council for
services
Committee on BOP
Agriculture :-The agreement relating to agriculture is made up of several elements, which seek to reform trade in agriculture.
Health and Safety Measures:-The agreement on the application of Sanitary and Phytosanitary Measures concerns the application of food safety and animal and plant health regulation.
Textiles and Clothing:-
The objective of this agreement is to secure the integration of the textile and clothing sector .
TRIPS :-
The WTO agreements of trade related aspects of intellectual property rights (TRIPs) recognizes that widely varying standards in the protection and enforcement of intellectual property rights and the lack of multilateral disciplines dealing with international trade in counterfeit goods.
• TRIMS:-Trade related Investment Measures (TRIMs) are those restrictions a nation places on foreign investment that adversely affect trade in goods and services
• Disputes Settlement:-The Dispute Settlement Understanding(DSU) is the legal text that spells out the rules and procedures for disputes between member countries.