Wto scope introduction

1. WORLD TRADE ORGANISATION

2. INTRODUCTION:
 The setting up of WTO was agreed to by 125 countries on
april 15,1994 at a conference in Marrakesh which
concluded the strennous Uruguay round of GATT
negotiations after more than 7 years of hard bargaining.
 The new World Trade Organisation which replaces the
general agreement on Tariff and Trade(GATT),had come
into effect from january 1,1995 with the support of atleast
85 founding members,including India.

3.  WTO has 153 members,representing more than 95% of
total world trade.
 The WTO is governed by a ministerial conference,meeting
every 2 years.
 A general council which implements the conference’s
policy decisions and is responsible for day to day
administration.
 Director-general,who is appointed by the ministerial
conference.
 The WTO’s headquarters is at Geneva,Switzerland.

4. OBJECTIVES:
 To help developing countries benefit fully from
global trading system.
 To set & enforce rules for International trade.
 To increase the transparency of decision making
process.
 To facilitate trade without any discrimination.
 To resolve trade disputes.

5.  To provide forum for negotiating & monitoring
the international trade.
 To cooperate with other major international
economic institutions involved in global economic
management.
 The main overall objective of WTO is to promote
and ensure the international trade in member
countries with the mantra of liberalization,
privatization and globalization.

6. SCOPE:
 The WTO shall provide the common institutional
framework for the conduct of trade relations
among its members in matters related to the
agreements and associated legal instruments
included in the Annexes.
 The agreements and associated legal instruments
of the Multilateral Trade Agreements are binding
on all members.

7.  The agreements and associated legal instruments
of the Plurilateral Trade Agreements (A
plurilateral agreement implies that
WTO member countries would be given the
choice to agree to new rules on a voluntary
basis.) are also a part of this agreement for those
members that have accepted them and are binding
on them.
 The general agreement on Tariff & Trade,1994 is
legally distinct from the general agreement on
Tariff & Trade dated 30 october 1947.

8. THANK YOU