WTO
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WTO

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WTO WTO Presentation Transcript

  • WTO WORLD TRADE ORGANIZATION
  • INTRODUCTION
    • WTO means world Trade Organization . It was started from 1 January 1995.It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle disputes. It operates a system of trade rules.
    • HISTORY
    • The WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. (The second WTO ministerial meeting, held in Geneva in May 1998, included a celebration of the 50th anniversary of the system.)
  • FUNCTIONS
    • Administering and implementing the multilateral and plurilateral trade agreements which together make up the WTO.
    • Acting as a forum for multilateral trade negotiations.
    • Seeking to resolve trade disputes .
    • Overseeing national trade policies.
    • Cooperating with other international institutions involved in global economics policy making.
  • STRUCTURE OF WTO MINISTERIAL CONFERENCE GENERAL COUNCIL TRADE POLICY REVIEW BODY DISPUTE SETTLEMENT BODY APPELLATE BODY DISPUTE SETTLEMENT PANELS COUNCIL FOR TRADE IN SERVICES COUNCIL FOR TRADE-RELATED ASPECTS OF INTELLECTUAL PROPERTY RIGHTS COMMITTEE ON TRADE AND ENVIRONMENT COUNCIL FOR TRADE IN GOODS
  • IMPORTANT PERSONALITIES
    • DIRECTOR GENERAL –PASCAL LAMY
    • four Deputy Directors-General are: Alejandro Jara , Valentine Sendanyoye Rugwabiza , Harsha Vardhana Singh and Rufus H. Yerxa .  Their appointment took effect on 1 October 2005.
  • DIFFERENCES BETWEEN GATT AND THE WTO
    • GATT was a set of rules, with no institutional foundation ,only a small associated secretariat ,and WTO is a permanent institution with its own secretariat.
    • GATT was applied on a provisional basis but WTO commitments are full and permanent .
    • GATT applied only on merchandise goods but WTO applied on trade in services and trade-related aspects of intellectual property foreign investment etc.
    • WTO dispute settlement system is faster, more automatic than GATT.
  • SALIENT FEATURES OF URUGUAY ROUND
    • Agreement on agriculture.
    • Agreement on trade in textiles and clothing.
    • Agreement on manufactured goods.
    • Agreement on TRIMs.
    • Agreement on TRIPs.
    • Agreement on services.
    • Disputes settlement body.
  • URUGUAY ROUND
    • The Uruguay Round increased bindings Percentages of tariffs bound before and after the 1986-94 talks Before After Developed countries7899Developing countries2173Transition economies7398(These are tariff lines, so percentages are not weighted according to trade volume or value) In the WTO, when countries agree to open their markets for goods or services, they “bind
  • DOHA DEVELOPMET AGENDA
    • The WTO is currently the host to new negotiations, under the “Doha Development Agenda” launched in 2001.
    • Agricultural subsidies.
    • Trips and public Health.
    • Trade and environment.
    • Labour Issues.
    • Market access for industrial products.
    • Competition, investment, transparency in government procurement and trade facilitation.
  • Importance's of WTO
    • Dynamic export industry can play in the country’s development.
    • Job creation.
    • Skill development.
    • Technological evolution.
    • To make independent economy in petroleum and fertilizers to capital goods and raw materials and life saving drugs.
    • Give opportunities to spread business in the whole world.
  • WORLD TRADE AND PRODUCTION
  • ADVANTAGE
    • 1-It helps to settle dispu
  • members
    • There are 151 members in WTO
    • India   1 January 1995
    • Australia   1 January 1995
    • Mexico   1 January 1995
    • Israel   21 April 1995
    • Italy   1 January 1995
    • Jamaica   9 March 1995
    • Japan   1 January 1995………………..
  • INDIA’S COMMITMENTS TO WTO
    • Tariff lines- India bound 67% with WTO
    • Quantitative restrictions- in 1997 for 2,714 tariff line at the eight digit level
    • TRIPs- appropriate amendments to patents act 1970 by April 19 1999
    • TRIMs-developing countries have transition
    • GATS-India commitments in 33 activities
    • Customs valuation rules-
  • BENEFITS TO INDIA
    • World bank, GATT –level of trade in goods by 745 billion U.S. dollars in 2005
    • In agricultural exports
    • URA strengthened multilateral rules and disciplines (safeguards, disputes settlement etc)
    • MFA (multi-fibre arrangement) by 2005
    • Benefits in exports of textiles and clothing
  • DISADVANTAGES TO INDIA
  • WTO launches first global review of Aid for Trade
    • The WTO, its members and key international agencies will conduct the first global review of Aid for Trade — aimed at expanding the trade capacity of developing countries — on 20-21 November 2007 in Geneva.
  • CONCLUSION
    • There are no WTO definitions of “developed” or “developing” countries. Developing countries in the WTO are designated on the basis of self-selection although this is not necessarily automatically accepted in all WTO bodies.