WTO - World Trade Organisation

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WTO - World Trade Organisation

  1. 1. World Trade Organisation By Jason Cates Jason Cates 2012
  2. 2. 1. What is the WTO?2. Structure3. Who’s Who?4. History5. GATT Jason Cates 2012
  3. 3.  The World Trade Organisation (WTO) is an international organisation established to act as a forum regarding the rules of trade between nations  It currently has 155 nation members and has a budget of 196m Swiss Francs  Established on 1st January 1995(WTO, 2012h) Jason Cates 2012
  4. 4. (WTO, 2012g) Jason Cates 2012
  5. 5.  Ministerial Conferences ◦ The Ministerial Conference is the top decision-making body of the WTO. It meets every two years and brings together all WTO members. The Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements.  The WTO General Council ◦ The General Council is the WTO’s highest-level decision- making body in Geneva. It meets regularly to carry out the functions of the WTO. It has representatives from all member governments and has the authority to act on behalf of the ministerial conference which only meets about every two years.(WTO, 2012e) (WTO, 2012f) Jason Cates 2012
  6. 6.  Director General ◦ Pascal Lamy is the fifth Director-General of the WTO. He is currently serving his 2nd 4 year term which will come to an end in 2013.  Deputy Directors General ◦ Alejandro Jara, Valentine Sendanyoye Rugwabiza, Harsha Vardhana Singh and Rufus H. Yerxa.(WTO, 2012c) (WTO, 2012d) Jason Cates 2012
  7. 7.  The current system was developed through a series of trade negotiations, held under GATT. ◦ The first negotiations focused on tariff reductions ◦ Then later negotiations included other areas such as anti-dumping and non-tariff measures. ◦ The last round in Uruguay led to the WTO’s creation.  In February 1997, an agreement was reached on telecommunications services. ◦ 69 governments took part and measure focused on liberalization(WTO, 2012b) Jason Cates 2012
  8. 8.  In 1997 ◦ Negotiations for tariff-free trade in IT products were concluded involving 40 members ◦ A deal on financial services which covered more than 95% of trade in the industry was also concluded involving 70 members  In 2000 ◦ Talks started on agriculture and services. These was incorporated into a broader agenda launched at the 4th WTO Ministerial Conference in November 2001.(WTO, 2012b) Jason Cates 2012
  9. 9.  On 1 January 1995, the WTO replaced GATT, which had been in existence since 1947, as the organization overseeing the multilateral trading system.  During this time, it provided the rules for much of world trade  GATT was the trading system came salvaged from the aborted attempt to create the International Trading Organisation (ITO)(WTO, 2012a) Jason Cates 2012
  10. 10.  The first 15 members begun talks in December 1945 to reduce and bind customs tariff after WW2. (This later expanded to 23 Members)  This first round of negotiations resulted in a package of trade rules and 45,000 tariff concessions affecting $10 billion of trade, about one fifth of the world’s total.(WTO, 2012a) Jason Cates 2012
  11. 11.  WTO (2012a) The GATT years: from Havana to Marrakesh. Available at: http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm [Accessed: 4th August 2012] WTO (2012b) The multilateral trading system—past, present and future. Available at: http://www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr01_e.htm [Accessed: 4th August 2012] WTO (2012c) WTO Director-General: Pascal Lamy. Available at: http://www.wto.org/english/thewto_e/dg_e/dg_e.htm [Accessed: 4th August 2012] WTO (2012d) The Deputy Directors-General. Available at: http://www.wto.org/english/thewto_e/dg_e/ddgs_e.htm [Accessed: 4th August 2012] WTO (2012e) Ministerial Conferences. Available at: http://www.wto.org/english/thewto_e/minist_e/minist_e.htm [Accessed: 4th August 2012] WTO (2012f) The WTO General Council. Available at: http://www.wto.org/english/thewto_e/gcounc_e/gcounc_e.htm [Accessed: 4th August 2012] WTO (2012g) WTO organization chart. Available at: http://www.wto.org/english/thewto_e/whatis_e/tif_e/org2_e.htm [Accessed: 4th August 2012] WTO (2012h) Who are we. Available at: http://www.wto.org/english/thewto_e/whatis_e/who_we_are_e.htm [Accessed: 4th August 2012] Jason Cates 2012

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