WTO - WORLD TRADE ORGANISATION Structure of WTO PRINCIPLES OF WTO IMPORTANT AGREEMENTS OF WTO

1. UGC NTA NET - COMMERCE
UNIT 1 - BUSINESS ENVIRONMENT &
INTERNATIONAL BUSINESS
PART - 2

2. WTO - WORLD TRADE ORGANISATION
WTO is an international organisation set up in 1995 by replacing GATT. Its HQ
Located at geneva, Switzerland. It has 164 members. India is founding member of
wto.
Objectives:
❏ To formulate and implement rules for international trade.
❏ To provide platform for trade negotiating
❏ To provide a platform for settlement of disputes.
❏ To provide technical assistance and training to developing countries.
❏ To cooperate with other economic institution like UN, IMF, World Bank

3. Structure of WTO
MINISTERIAL CONFERENCE- It is the top most decision making
body of WTO. All the participants of WTO meets every two year
once.
THE GENERAL COUNCIL - It consists of members of all member
states. It takes responsible of day-to-day Business and Management
of WTO.
OTHER COUNCILS/BODIES - There are many other bodies like
Goods Council, Services Council, Trade Policy review body, Dispute
Settlement Body etc.,

4. PRINCIPLES OF WTO
❖ Non Discrimination
❖ Most Favored Nation - All nation should be treated equally
❖ National Treatment - same treatment to all products
❖ Reciprocity - lowering import duties and other barriers.
❖ Predictability through Binding and enforceable Commitments -
maintain stable and predictable
❖ Transparency - Publish regulation and notify changes in trades policy
❖ Encouraging Development and Economic Reforms - All effort are to
contribute development.

5. IMPORTANT AGREEMENTS OF WTO
Agreement on Agriculture (AOA)
Agreements on TRIPS (Trade-Related aspects of Intellectual Property
Rights)
Agreement on the Application of Sanitary and Phytosanitary Measures
(SPS)
Agreement to Technical Barriers to Trade(TBT)
Agreement on Trade-Related Investment Measures(TRIMS)
General Agreement on Trade in Services (GATS)

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