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BCOM_FC_M1_Cold War and WTO GATT.pptx>>>
1. End of cold war and the
changing world
scenario- WTO GATT
SYBCOM_FC_MODULE 1_UNIT 1
2. Cold War
https://philoid.in/lab/viewer/?n=leps101.pdf
https://philoid.in/lab/viewer/?n=leps102.pdf
NCERT Notes link as above and other notes included in Google Classrooms
Few Links:
https://www.youtube.com/watch?v=dsDrYh2Af5Y
https://www.youtube.com/watch?v=I79TpDe3t2g&t=6s
https://www.youtube.com/watch?v=L-K19rVDxoM&t=11s
https://www.youtube.com/watch?v=CNc64SDFryQ
https://www.youtube.com/watch?v=0XmyA2n8TlU
5. GATT
• Set up as a temporary institution to regulate world
trade
• As part of the Geneva conference – signed by 23
nations on Oct 23 1947 and came into existence on
1st Jan 1948
• Lasted till 123 nations in Marrakesh, Morocco
ratified it in Apr 14, 1994
• Limitations:
1. Only an agreement, not an organisation
2. Only for merchandise goods
3. However, it gave flexibility to the other nations
and autonomy as well.
• Held 8 ministerial round. Final round- Uruguay
round- led to the formation of WTO.
6. WTO
The World Trade Organization (WTO) is the
only global international organization dealing
with the rules of trade between nations. At its
heart are the WTO agreements, negotiated and
signed by the bulk of the world’s trading
nations and ratified in their parliaments. The
goal is to help producers of goods and
services, exporters, and importers conduct
their business.
https://www.wto.org/english/thewto_e/wha
tis_e/whatis_e.htm
7. WTO
Set up on 1st Jan 1995 in Marrakesh, Morocco replacing GATT
Important reasons for its set up-
1. Extended to services like agriculture, textiles, IPRs
2. Was not bureaucratic like GATT
3. Agreements were not subject to member country implementation like GATT
8. WTO
Included- Non discrimination principles for all its member nations which involved
MFN rights- Most Favoured Nation and National Treatment Policy which requires-
A WTO member to apply the same conditions on all trade with other WTO members
Ministerial conference to be held every 2 years
9. FACT FILE
Location: Geneva, Switzerland
Established: 1 January 1995
Created by: Uruguay Round negotiations (1986-94)
Membership: 164 members representing 98 per cent of world trade
Budget: 197 million Swiss francs for 2020
Secretariat staff: 623
Head: Ngozi Okonjo-Iweala (Director-General)
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
10. Website Information – Who they 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
11. What they do
The WTO is run by its member governments.
All major decisions are made by the membership as a whole, either by ministers (who
usually meet at least once every two years) or by their ambassadors or delegates
(who meet regularly in Geneva)
The World Trade Organization — the WTO — is the international organization whose
primary purpose is to open trade for the benefit of all.
12. WTO Can
The WTO can ...
1 ... cut living costs and raise living standards
2 ... settle disputes and reduce trade tensions
3 ... stimulate economic growth and employment
4 ... cut the cost of doing business internationally
5 ... encourage good governance
6 ... help countries develop
7 ... give the weak a stronger voice
8 ... support the environment and health
9 ... contribute to peace and stability
10 ... be effective without hitting the headlines
13. History of WTO
https://www.wto.org/english/thewto_e/history_e/history_e.htm
