World Trade Organization


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ITM EEC Batch 13B
Macroeconomics Presentation

Sreeja P. Nair
Sreeja V Nair
Ratish Venugopal
Sreevidya Narayanan
Veronica Thomas

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World Trade Organization

  1. 1. PRESENTATION ON WTO (WORLD TRADE ORGANISATION) <ul><li>SREEJA P. NAIR – KH08JUNMBA102 </li></ul><ul><li>SREEJA V. NAIR – KH08JUNMBA103 </li></ul><ul><li>RATISH VENUGOPAL – KH08JUNMBA 92 </li></ul><ul><li>SREEVIDYA NARAYANAN – KH08JUNMBA 104 </li></ul><ul><li>VERONICA THOMAS - KH08JUNMBA108 </li></ul>
  2. 2. <ul><li>The WTO is the only global international organization dealing with the rules of trade between nations. </li></ul><ul><li>WTO came into existence on January 1 st , 1995 replacing GATT (General Agreement on Trade & Tariffs) </li></ul><ul><li>It consists of 81 countries and territories – cover 90% of International trade in goods and services. </li></ul><ul><li>Currently WTO has 144 countries. </li></ul><ul><li>Source :- </li></ul>W T O (World Trade Organization)
  3. 3. STRUCTURE OF WTO <ul><li>WTO is dominated by its highest authority – Ministerial conference. </li></ul><ul><li>Day to Day activities of WTO is managed by a no of subsidiary bodies which include the General council. </li></ul><ul><li>General Council delegates responsibility to three other major bodies - namely the Councils for Trade in Goods, Trade in Services and Trade-Related Aspects of Intellectual Property. </li></ul>Continued…….. Source:-
  4. 4. <ul><li>Three other bodies are established by the Ministerial Conference and report to the General Council. </li></ul><ul><li>They are namely Committee on Trade & Development, Committee on Balance of Payments and Committee on Budget. </li></ul><ul><li>There are other three agreements of the WTO – those on civil aircraft , government procurement, dairy products and bovine meat. </li></ul>
  5. 5. The Family of WTO Agreements
  6. 6. <ul><li>I - Multilateral Agreements on Trade in Goods, with the following components: </li></ul><ul><li>(1) GATT 1994, consisting of the following: </li></ul><ul><li>GATT 1947, i.e., the original GATT with its amendments etc. as it stands up to 31 December 1994; </li></ul><ul><li>Decisions taken under GATT 1947 up to tat date; </li></ul><ul><li>Understandings reached in the Uruguay Round in six areas, viz., other duties and charges, state trading enterprises, balance-of-payments provisions, customs unions and free-trade areas, waivers of obligations, and tariff modification; and </li></ul><ul><li>Tariff schedules and the manner of implementation of these schedules as agreed to in the Uruguay Round </li></ul>
  7. 7. <ul><li>(2) Other agreements in the area of goods, viz. the 12 agreements covering the areas of: </li></ul><ul><ul><li>Agriculture </li></ul></ul><ul><ul><li>Sanitary and Phytosanitary Measures </li></ul></ul><ul><ul><li>Textiles and Clothing </li></ul></ul><ul><ul><li>Technical Barriers to Trade </li></ul></ul><ul><ul><li>Trade-Related Investment Measures </li></ul></ul><ul><ul><li>Anti-Dumping </li></ul></ul><ul><ul><li>Customs Valuations </li></ul></ul><ul><ul><li>Preshipment Inspections </li></ul></ul><ul><ul><li>Rules of Origin </li></ul></ul><ul><ul><li>Import Licensing </li></ul></ul><ul><ul><li>Subsidies and Safeguard </li></ul></ul>
  8. 8. (3) - General Agreement on Trade in Services (4) - Agreement on Trade-Related Aspects of Intellectual Property Rights (5) - Trade Policy Review Mechanism (6) - Understanding on the Settlement of Disputes
  9. 9. EFFECTS OF WTO <ul><li>Effects of WTO on developing countries. </li></ul><ul><li>Effects of WTO agricultural reforms in rich and poor countries. </li></ul><ul><li>Effects of WTO frame work on industrial tariff cuts. </li></ul><ul><li>Effects of WTO on domestic pharmaceutical sector. </li></ul>Continued……..
  10. 10. <ul><li>Effects of WTO Judicial delegation on U.S. trade politics. </li></ul><ul><li>Effects of WTO on Anti Corruption Disciplines. </li></ul><ul><li>Effects of WTO on Human Resource Management. </li></ul><ul><li>Effects of WTO on Chinese economy. </li></ul><ul><li>Effects of WTO on Russian economy. </li></ul>
  11. 11. <ul><li>Effects of WTO in Indian economy. </li></ul><ul><li>WTO & Indian Agriculture. </li></ul><ul><li>The reality of rising food prices. </li></ul><ul><li>Free Trade – Destroys Farming System . </li></ul><ul><li>Patent Protection. </li></ul><ul><li>Globalization. </li></ul>
  12. 12. Salient features of WTO Agreement on Agriculture <ul><li>Market Access </li></ul><ul><li>Tariffication </li></ul><ul><li> Tariff reduction </li></ul><ul><li> Special Safeguard </li></ul><ul><li>Domestic Support </li></ul><ul><li>Export subsidies </li></ul>
  13. 13. Obstacles of WTO Agreement on Agriculture <ul><li>Using discriminatory market access measures to </li></ul><ul><li>counter other’s domestic measures. </li></ul><ul><li>Domestic Support is the weakest in terms of </li></ul><ul><li>arrangements that ensures reduced market </li></ul><ul><li>disortation </li></ul>
  14. 14. Thank You