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Creating A World Without Walls!
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  • 1. Creating A World Without Walls!
    Abhishek Kumar Rai
    Milan Bir
    Nidhi Kumari
    Neeraj Sharma
    Goutam Nath Sharma
  • 2. Road map of the presentation:-
  • 3. Contd…
  • 4. What is WTO:-
    “The World Trade Organization is ‘member-driven’, with decisions taken by General agreement among all member of governments and it deals with the rules of trade between nations at a global or near-global level. But there is more to it than that.”
  • 5. Contd…
    • They deal with:- Agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards and product safety, food sanitation regulations, intellectual property, and much more.
    The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities.
  • 6. History of WTO:-
    WTO began its life on 1 January 1995
    Before WTO its name was GATT (General Agreement on Tariffs and Trade) with a view to flows of trade are going smooth, predictable and free from hassles.
    The purpose of the WTO is to let the consumers and producers enjoy secure supplies and greater choice for the finished products.
  • 7.
  • 8. Brief History of GATT:-
    Established in 1948.
    GATT is both a code of rules and a forum in which countries can discuss and resolve their trade disputes and negotiate to enlarge world trading opportunities.
    A multilateral accord, subscribed to by 115 governments. 117 countries participated in the most recent negotiating round.
    In the 1960s, attempts were made to bring agriculture and other sectors beyond manufacturing.
  • 9. Contd…
    The Dillon Round (1 960-62).
    In 1963-67, the Kennedy Round attempted to liberalize trade in agriculture.
    In 1973-79, the Tokyo Round again tackled agriculture.
    The Uruguay Round (1986-94) was the most ambitious round of GATT negotiations.
    After seven years of negotiations, the GATT reached an agreement on December 15,1993. With the approval of member governments, the agreement is scheduled to take effect in 1995. Formal signing of the agreement took place on April 15, 1994, in Marrakech, Morocco.
  • 10. The General Agreement on Trade in Services (GATS) adds services
    Trade in Intellectual Property Rights (TRIPs) adds copyrights, and patents
    Trade Related Investment Measures (TRIMs) sets rules for Foreign Direct
    Investment.
    Government Procurement (GPA) & the Information Technologies (ITA)
    agreements also international rules on new product areas.
    GATT to WTO
    WTO also broke new ground, adding a number of
    trade sectors and issues not addressed by the GATT
  • 11. Principles of WTO:-
    • To help trade flow as freely as possible.
    • 12. To achieve further liberalization gradually through negotiation.
    • 13. To set up an impartial means of settling disputes.
  • Functions of WTO:-
    • Administering the WTO trade agreements.
    • 14. Forum for trade negotiations.
    • 15. Administering the mechanism for settling trade disputes among members.
    • 16. Monitoring national trade policies.
    • 17. Assisting developing countries with training and technical assistance.
    • 18. Cooperation with other Internationals organizations.
  • Why WTO?
    To arrange the implementation, administration and operations of multilateral (involving three or more participants) and plurilateral trade agreements (power which shared between different countries).
    To arrange the forum for deliberations for the member nations in regard to their multilateral trade relations in issues deal with under the agreements.
  • 19. To provide a framework for implementing of the results arising out of the deliberations (long and care full agreements/consideration) which taken place at ministerial conference level.
    To manage the created understanding on rules and procedure governing the settlement of disputes.
    To manage effectively and efficiency the trade policy review mechanism (TRIM).
    To create more together relationship with all nations in respect of global economic policy-making, it would cooperate with the IMF and the world bank & its affiliated Organizations.
  • 20. Year
    Rounds / Events
    1947
    The Birth of GATT at Palais des Nations at Geneva
    1948
    Entry into Force(Havana, Cuba)
    1949
    Second Round at Annecy, France.
    1950
    Third Round at Torquay, UK
    1956
    Fourth Round at Geneva
    1958
    The Haberler Report
    1960
    Fifth Round (The Dillon Round)
    1961
    Beginning of the MFA
    1964
    The Kennedy Round
    1965
    Trade and Development Chapter
    1973
    The Tokyo Round
    1974
    Multifibre Arrangement (MFA).
    Important meetings:-
  • 21. Contd…
    1982
    Seeds of Uruguay Round
    1986
    Eighth Round (The Uruguay Round at Punta del Este, Uruguay)
    1988
    Midterm Review of the Uruguay Round
    1993
    Successful Conclusion of the Uruguay Round
    1994
    Signing of the Uruguay Round Agreements in Marrakesh
    1995
    Establishment of the World Trade Organization
    1996
    Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS)
    1996
    First World Trade Organization Ministerial Conference to be held in Singapore
    1997
    Telecom Agreement
    1998
    Geneva Ministerial
    1999
    Seattle Ministerial Conference
    2000
    Mandated Negotiations
    2001
    Ministerial Conference at Doha
    2003
    Fifth Ministerial Conference at Cancun, Mexico.
  • 22. Structure of WTO:-
  • 23. Ministerial Conference:-
    Topmost Decision making body.
    Consist of all WTO members.
    Held at least once every two years.
    Make decisions on all matters.
  • 24. General Council:-
    Includes ambassadors and heads of delegation in GENEVA.
    The general Council is also meet as the Dispute Settlement Body and the Trade Policy Review Body.
    The Committee on Trade and Development and Committee on Trade and Environment are two of the several committees continued or established under the Marrakech Agreement in 1994.
  • 25. Goods Council:-
    Has 11 committees.
    Deals in Agriculture, Market Access, Subsidies, Anti-dumping measures etc.
    Reporting to Textile Monitoring Body- consist a chairman and 10 members.
    Deals with notifications.
  • 26. Service Council:-
    Has subsidiary bodies.
    Deals with Financial services, domestic regulations, GATS rules and Specific commitments.
  • 27. TRIPS Council:-
    Related to Aspects of Intellectual Property Rights.
    Deals with copyrights, patents, trademarks, geographical names.
  • 28. WTO agreements:-
    Goods
    Services
    Intellectual Properties
    Dispute settlement
    Policy Review
  • 29. How is the WTO different from GATT?
  • 30. Developing Countries & WTO:-
    Development and Trade.
    Technical assistance and training.
  • 31. Benefits of WTO:-
    • System helps to keep peace.
    Handel Disputes constructively.
    Based on Rules rather than Power.
    Freer trade cuts the cost of living.
    Give more choices and range to consumers.
  • 32.
    • Growth in Trade:-
    • Growth in Income (FDI):-
  • Contd…
    System become economical more efficient.
    It shields Govts from narrow Interests.
    It encourages good Govt.