HOW THE WORLD TRADE

ORGANIZATION IMPACT JAMAICA

GROUP MEMBERS

ALEX ELLIS MARVISHA DACRES KEVIN DALEY ODANE JONAS

WHAT IS THE WTO?

The World Trade Organization (WTO) is a global international organization that deals with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business.

MEMBERS OF THE WTO

AUSTRAILIA BRAZIL CANADA CHINA JAMAICA ST. LUCIA ZIMBABWE HAITI ARGENTINA BELIZE

OBJECTIVES OF THE WTO

Administering WTO trade agreements Forum for trade negotiations Forum for trade dispute settlement Monitoring national trade policies Providing technical assistance and

training for developing countries Functional cooperation with other

international organizations

PRICIPLES OF WTO

Trade without discrimination Predictable and growing access to

markets Promoting fair competition Encouraging development and economic

reform

BENEFITS OF THE WTO

1. The system helps promote peace2. Disputes are handled constructively3. Rules make life easier for all4. Freer trade cuts the costs of living5. It provides more choice of products and qualities6. Trade raises incomes7. Trade stimulates economic growth8. The basic principles make life more efficient9. Governments are shielded from lobbying10. The system encourages good government

JAMAICA AND THE WORLD

TRADE ORGANIZATION

TRADE WITHOUT DISCRIMINATION

Under the "most-favoured nation" (MFN) clause, members are bound to grant to the products of other members no less favourable treatment than that accorded to the products of any other country. The provision on "national treatment" requires that once goods have entered a market, they must be treated no less favourably than the equivalent domestically-produced good

EXAMPLE

Jamaican been an exporter of coffee to the rest of the world is not allowed under the most favoured nation clause to sell a higher quality coffee to Japan and a lower standard to the United States or is allowed to export poorer quality goods and sell best in their local market.

PROMOTING FAIR COMPETITION

The WTO extends and clarifies previous general agreement on trade and tariffs (GATT) rules that laid down the basis on which governments could impose compensating duties on two forms of "unfair" competition: dumping and subsidies. The WTO Agreement on agriculture is designed to provide increased fairness in farm trade. That on intellectual property will improve conditions of competition where ideas and inventions are involved, and another will do the same thing for trade in services.

PREDICTABLE AND GROWING ACCESS TO MARKETS

Reduction of tariffs so as to allow access to Jamaican markets and predictions of available markets in the Jamaican economy.

ENCOURAGING DEVELOPMENT AND ECONOMIC REFORM

Developing countries like Jamaica are given transition periods (It is an opportunity to participate in non-competitive activities to relax and mentally refresh yourself so that you can recover from the stresses imposed by competition) to adjust to the more difficult WTO provisions.