International Trade and the World Trade Organization
Metropolitan University Prague
Martin Kolmhofer, Ph.D.
The World Trade Organization (WTO): 160 Member States, based in Geneva
Main function: To supervise and liberalize internat...
90 % of World Trade are done between WTO members
The idea to establish an institution to regulate international trade started at the end
of WWII.
The WTO’s ideology is based on classical theories of free trade (Adam Smith, David
Ricardo).
The Great Depression (1929) w...
Video: Why do countries restrict trade?
1948: 23 countries signed GATT (General Agreement on Tariffs & Trade)
3 did not ratify
The GATT was replaced by the WTO in 1994
The 23 participants of the first (Geneva) round of GATT negotiations took only six
months to conclude a deal that reduced ...
2014: 160 Members + 24 Countries with Observer Status
(They can participate in meetings but cannot take part in the decisi...
Most Important Trade Routes (Ship, Plane, Internet)
China joined WTO in 2001 – by now China is the biggest exporter of finished goods
THE BALTIC EXCHANGE (London)
• Forum for International Shipping Business of
all kinds
• Trade Finance, Insurance, Legal Se...
Russia joined the WTO in 2012. Access talks (started 1993) were difficult.
(Russia did not want to grant access to its min...
WTO is based on “one country, one vote”.
The European Union has one vote per member + one vote as an organization
MFN (Most Favored Nation) Clause: Under the WTO agreements, countries cannot
normally discriminate between their trading p...
4 big Free Trade Areas: EU, Mercosur, NAFTA, ASEAN
Average tarrifs (as percentage of the value of the good) have decreased
considerably since 1945
Dispute Settlement Body (DSB)
Example: EU refuses to import genetically manipulated beef from Canada & US
Considered by DS...
Example: US subsidies for BOEING were considered illegal
EU was allowed to react with sanctions
Latest round of Negotiations (Doha Round) started in November 2001
Major issue: agriculture and agricultural subsidies
Dev...
CAIRNS Group: Trade group of 17 agricultural exporting countries, accounting for
one-third of the world's agricultural exp...
G90: Alliance between the poorest and smallest developing countries
HISTORY OF POLITICAL AND ECONOMIC THOUGHT
FINANCIAL MARKETS: THE CITY OF LONDON
YOUR COUPON
Save 20% on your next poster order:
Use promo code LqhWqP at the checkout
WWW.CEE-PORTAL.AT
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
International Trade and the World Trade Organisation
Upcoming SlideShare
Loading in …5
×

International Trade and the World Trade Organisation

1,223 views

Published on

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,223
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
52
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

International Trade and the World Trade Organisation

  1. 1. International Trade and the World Trade Organization Metropolitan University Prague Martin Kolmhofer, Ph.D.
  2. 2. The World Trade Organization (WTO): 160 Member States, based in Geneva Main function: To supervise and liberalize international trade
  3. 3. 90 % of World Trade are done between WTO members
  4. 4. The idea to establish an institution to regulate international trade started at the end of WWII.
  5. 5. The WTO’s ideology is based on classical theories of free trade (Adam Smith, David Ricardo). The Great Depression (1929) was seen as one of the reasons for WWII because of return to protectionism.
  6. 6. Video: Why do countries restrict trade?
  7. 7. 1948: 23 countries signed GATT (General Agreement on Tariffs & Trade) 3 did not ratify
  8. 8. The GATT was replaced by the WTO in 1994
  9. 9. The 23 participants of the first (Geneva) round of GATT negotiations took only six months to conclude a deal that reduced 45,000 tariffs. But there are now over 150 members of the WTO, a number that makes negotiations considerably more difficult. Why do trade negotiations take so long?
  10. 10. 2014: 160 Members + 24 Countries with Observer Status (They can participate in meetings but cannot take part in the decision-making process)
  11. 11. Most Important Trade Routes (Ship, Plane, Internet)
  12. 12. China joined WTO in 2001 – by now China is the biggest exporter of finished goods
  13. 13. THE BALTIC EXCHANGE (London) • Forum for International Shipping Business of all kinds • Trade Finance, Insurance, Legal Services… • The Exchange provides daily freight market prices (Baltic Freight Index) • www.balticexchange.com
  14. 14. Russia joined the WTO in 2012. Access talks (started 1993) were difficult. (Russia did not want to grant access to its mining industry to foreigners)
  15. 15. WTO is based on “one country, one vote”. The European Union has one vote per member + one vote as an organization
  16. 16. MFN (Most Favored Nation) Clause: Under the WTO agreements, countries cannot normally discriminate between their trading partners. If they grant someone a special favor (such as a lower customs duty rate for one of their products) they have to do the same for all other WTO members. Exceptions: Regional Free Trade Areas
  17. 17. 4 big Free Trade Areas: EU, Mercosur, NAFTA, ASEAN
  18. 18. Average tarrifs (as percentage of the value of the good) have decreased considerably since 1945
  19. 19. Dispute Settlement Body (DSB) Example: EU refuses to import genetically manipulated beef from Canada & US Considered by DSB as NON-TARIFF BARRIER.
  20. 20. Example: US subsidies for BOEING were considered illegal EU was allowed to react with sanctions
  21. 21. Latest round of Negotiations (Doha Round) started in November 2001 Major issue: agriculture and agricultural subsidies Developed vs. developing countries / EU vs. US
  22. 22. CAIRNS Group: Trade group of 17 agricultural exporting countries, accounting for one-third of the world's agricultural exports.
  23. 23. G90: Alliance between the poorest and smallest developing countries
  24. 24. HISTORY OF POLITICAL AND ECONOMIC THOUGHT
  25. 25. FINANCIAL MARKETS: THE CITY OF LONDON
  26. 26. YOUR COUPON Save 20% on your next poster order: Use promo code LqhWqP at the checkout WWW.CEE-PORTAL.AT

×