1. Submitted To : Prof. Chintan
Presented by : Zeel Mathkiya (19)
Sejal Mehta (21)
Hirni Mewada (22)
Varun Modi (23)
Siddhi Nalawade (24)
2. INTRODUCTION
• What is WTO ?
• The World Trade Organization (WTO) is the only international organization dealing with the global rules
of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and
freely as possible.
• Who we are ?
• There are a number of ways of looking at the World Trade Organization. It is an organization for trade
opening. It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade
disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments
try to sort out the trade problems they face with each other.
• Mission Statement
• The World Trade Organization the WTO is the international organization whose primary purpose is to
open trade for the benefit of all.
3. HISTORY
• The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international
trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing
the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.
• The WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of
the Second World War.
• The organization is attempting to complete negotiations on the Doha Development Round, which was
launched in 2001 with an explicit focus on addressing the needs of developing countries. As of June 2012, the
future of the Doha Round remains uncertain. The work program lists 21 subjects in which the original
deadline of 1 January 2005 was missed, and the round is still incomplete
4. FACTFILE
Location: Geneva, Switzerland
Established: 1 January 1995
Created by: Uruguay Round
negotiations (1986-94)
Membership: 157 countries
on 24 August 2012
Budget: 196 million Swiss francs
for 2011
Secretariat staff: 640
Head: Pascal Lamy (Director-
General)
6. FUNCTIONS
• Administering WTO trade agreements
• Forum for trade negotiations
• Handling trade disputes
• Monitoring national trade policies
• Technical assistance and training for developing countries
• Cooperation with other international organizations
7. OBJECTIVE OF WTO
• Trade without discrimination
• Settlement of disputes
• Raising standard of living
• Optimum utilization of the world productive resources
• Protection of the environment
• Growth of underdeveloped countries
8. ACHIEVEMENTS OF WTO
• Singapore Agreement
• Expansion
• Liberalization of export-import policies
9. ADVANTAGES OF WTO
1. The system helps to keep the peace:
This sounds like an exaggerated claim, and it would be wrong to make too much of it. Nevertheless, the
system does contribute to international peace, and if we understand why, we have a clearer picture of what the
system actually does.
2. The system allows disputes to be handled constructively:
As trade expands in volume, in the number of products traded, and in the numbers of countries and companies
trading, there is a greater chance that disputes will arise. The WTO system helps resolve these disputes
peacefully and constructively.
3. A system based on rules rather than power makes life easier for all:
The WTO cannot claim to make all countries equal. But it does reduce some inequalities, giving smaller
countries more voice, and at the same time freeing the major powers from the complexity of having to
negotiate trade agreements with each of their numerous trading partners.
.
10. CONTI…..
4. Free trade cuts the cost of living:
We are all consumers. The prices we pay for our food and clothing, our necessities and luxuries, and
everything else in between, are affected by trade policies.
5. It gives consumers more choice:
Think of all the things we can now have because we can import them: fruits and vegetables out of season,
foods, clothing and other products that used to be considered exotic, cut flowers from any part of the world,
all sorts of household goods, books, music, movies, and so on.
6. Trade raises incomes:
Lowering trade barriers allows trade to increase, which adds to incomes — national incomes and personal
incomes. But some adjustment is necessary
11. DISADVANTEGES OF WTO
• Trade Related Intellectual Property Rights.
• Introduction of Product Patents
• Property Rights to Agriculture
• Services
