Wto (World Trade Organization)

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WTO SEM-1

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Wto (World Trade Organization)

  1. 1. WTO ( World Trade Organization )
  2. 2. Road Map of Entire Presentation <ul><li>What is World Trade Organization ? </li></ul><ul><li>History of WTO </li></ul><ul><li>Why WTO is Important for the Global Trade ? </li></ul><ul><li>Conclusion </li></ul>
  3. 3. What is the W orld T rade O rganization ? <ul><li>“ The World Trade Organisation is ‘ member-driven ’, with decisions taken by General agreement among all member of governments and it deals with the rules of trade between nations at a global or near-global level. But there is more to it than that. ” </li></ul>
  4. 4. <ul><li>They deal with: agriculture , textiles and clothing , banking , telecommunications , government purchases , industrial standards and product safety , food sanitation regulations , intellectual property , and much more. </li></ul><ul><li>The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities . </li></ul>
  5. 5. WTO: The Beginnings/ History <ul><li>WTO began its life on 1 January 1995 </li></ul><ul><li>Before WTO its name was GATT (General Agreement on Tariffs and Trade) with a view to flows of trade are going smooth , predictable and free from hassles . </li></ul><ul><li>The purpose of the WTO is to let the consumers and producers enjoy secure supplies and greater choice for the finished products </li></ul>
  6. 6. <ul><li>The WTO is certainly one of the most important institutions dealing with international economic relations. </li></ul><ul><li>In broad terms, its role is twofold, first with establishment of international trade in both goods and services . </li></ul><ul><li>And second , to progressively liberalize that trade , presently valued at close to eight thousand billion dollars every year. </li></ul>
  7. 7. Pascal Lamy (Director-General) Head : 625 Secretariat staff : 182 million Swiss francs for 2007 Budget : 151 countries on 27 July 2007 Membership : Uruguay Round negotiations (1986-94)   Created by : Geneva, Switzerland Location :
  8. 8. Why WTO ? <ul><li>To arrange the implementation , administration and operations of multilateral (involving three or more participants) and plurilateral trade agreements (power which shared between different countries) </li></ul><ul><li>To arrange the forum for deliberations for the member nations in regard to their multilateral trade relations in issues deal with under the agreements </li></ul>
  9. 9. <ul><li>To provide a framework for implementing of the results arising out of the deliberations ( long and care full agreements/consideration ) which taken place at ministerial conference level </li></ul><ul><li>To manage the created understanding on rules and procedure governing the settlement of disputes </li></ul>
  10. 10. <ul><li>To manage effectively and efficiency the trade policy review mechanism (TRIM) </li></ul><ul><li>To create more together relationship with all nations in respect of global economic policy-making , it would cooperate with the IMF and the world bank & its affiliated Organisations </li></ul>
  11. 11. Conclusion <ul><li>The system helps promote peace </li></ul><ul><li>Disputes are handled constructively </li></ul><ul><li>Free trade cuts the costs of living </li></ul><ul><li>It provides more choice of products and qualities </li></ul><ul><li>Trade raises incomes </li></ul><ul><li>Trade stimulates economic growth </li></ul><ul><li>The system encourages good government </li></ul>
  12. 12. Conclusion Continue.. WTO PUBLIC FORUM 2006 Source: www.wto.org

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