SlideShare a Scribd company logo
1 of 11
What is the WTO?
 The World Trade Organization (WTO) is
an international organization designed by its
founders to supervise and liberalize
international trade.
 The organization officially commenced on
January 1, 1995 under the Marrakech
Agreement, replacing the General
Agreement on Tariffs and Trade (GATT),
which commenced in 1947.
What is the WTO?
 The World Trade Organization (WTO) is the
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.
WTOWTO
BRIEF HISTORY
The WTO's predecessor, the General Agreement on
Tariffs and Trade (GATT), was established after
World War II in the wake of other new multilateral
institutions dedicated to international economic
cooperation - notably the Bretton Woods institutions
known as the World Bank and the International
Monetary Fund.
WTOWTO
BRIEF HISTORY
A comparable international institution for trade, named
the International Trade Organization was successfully
negotiated.
The ITO was to be a United Nations specialized agency
and would address not only trade barriers but other issues
indirectly related to trade, including employment,
investment, restrictive business practices, and commodity
agreements.
But the ITO treaty was not approved by the United States
and a few other signatories and never went into effect.
WTOWTO
BRIEF HISTORY
In the absence of an international organization for
trade, the GATT would over the years "transform
itself" into a de facto international organization.
The GATT was the only multilateral instrument
governing international trade from 1948 until the
WTO was established in 1995.
Important Functions of WTO
 It oversees the implementation, administration and operation of
the covered agreements.
 It provides a forum for negotiations and for settling disputes.
 Additionally, it is the WTO's duty to review and propagate the
national trade policies, and to ensure the coherence and
transparency of trade policies through surveillance in global
economic policy-making.
 Another priority of the WTO is the assistance of developing, least-
developed and low-income countries in transition to adjust to
WTO rules and disciplines through technical cooperation and
training.[
 The WTO is also a center of economic research and analysis:
regular assessments of the global trade picture in its annual
publications and research reports on specific topics are produced
by the organization.
 Finally, the WTO cooperates closely with the two other
components of the Bretton Woods system, the IMF and the World
Bank.
THE ORGANIZATION
 THE OBJECTIVES:
 The WTO’s overriding objective is to help trade flow
smoothly, freely, fairly and predictably.
 It does this by:
 Administering trade agreements
 Acting as a forum for trade negotiations
 Settling trade disputes
 Reviewing national trade policies
 Assisting developing countries in trade policy issues, through
technical assistance and training programmes
 Cooperating with other international organizations
Structure
The WTO has 164 members, accounting for over 97% of world trade.
Decisions are made by the entire membership.
This is typically by consensus. A majority vote is also possible but it has
never been used in the WTO, and was extremely rare under the WTO’s
predecessor, GATT.
The WTO’s agreements have been ratified in all members’ parliaments.
Structure
The WTO’s top level decision-making body is the Ministerial Conference
which meets at least once every two years.
Below this is the General Council (normally ambassadors and heads of
delegation in Geneva, but sometimes officials sent from members’ capitals)
which meets several times a year in the Geneva headquarters.
The General Council also meets as the Trade Policy Review Body and the
Dispute Settlement Body.
At the next level, the Goods Council, Services Council and Intellectual
Property (TRIPS) Council report to the General Council.
Numerous specialized committees, working groups and working parties
deal with the individual agreements and other areas such as the environment,
development, membership applications and regional trade agreements.
Secretariat 
 The WTO Secretariat, based in Geneva, has
around 625 staff and is headed by a director-
general.
 Its annual budget is roughly 189 million Swiss
francs.
 It does not have branch offices outside Geneva.
 Since decisions are taken by the members
themselves, the Secretariat does not have the
decision-making role that other international
bureaucracies are given.
Principles of the trading
system
 Five principles are of particular importance in understanding
both the pre-1994 GATT and the WTO.
 Non-Discrimination.
 It has two major components: the most favoured nation
(MFN) rule, and the national treatment policy.
 The MFN rule requires that a WTO member must apply the
same conditions on all trade with other WTO members.
 National treatment means that imported goods should be
treated no less favorably than domestically-produced goods
(at least after the foreign goods have entered the market)
and was introduced to tackle non-tariff barriers to trade
(e.g. technical standards, security standards et al.
discriminating against imported goods).

More Related Content

What's hot

World Trade Organisation and Case Studies
World Trade Organisation and Case StudiesWorld Trade Organisation and Case Studies
World Trade Organisation and Case StudiesOlivia Rodrigues
 
Wto presentation
Wto presentationWto presentation
Wto presentationMamta Singh
 
WTO Some Primary information and History
WTO Some Primary information and HistoryWTO Some Primary information and History
WTO Some Primary information and HistoryRam Deshpande
 
World Trade Organisation & International Trade Agreements
World Trade Organisation & International Trade AgreementsWorld Trade Organisation & International Trade Agreements
World Trade Organisation & International Trade AgreementsDVSResearchFoundatio
 
The world trade organization (wto)
The world trade organization (wto)The world trade organization (wto)
The world trade organization (wto)Tinaaz Wadia
 
Uruguay round and doha round
Uruguay round and doha roundUruguay round and doha round
Uruguay round and doha roundSunit Kapoor
 
United Nations Conference on Trade and Development (UNCTAD)
United Nations Conference on Trade and Development (UNCTAD)United Nations Conference on Trade and Development (UNCTAD)
United Nations Conference on Trade and Development (UNCTAD)Harshit Ahuja
 
WTO world trade organization
WTO world trade organization WTO world trade organization
WTO world trade organization eslmaali
 
World Trade Organisation (WTO)
World Trade Organisation (WTO)World Trade Organisation (WTO)
World Trade Organisation (WTO)Harshit Ahuja
 
WTO (World Trade Organization)
WTO (World Trade Organization)WTO (World Trade Organization)
WTO (World Trade Organization)Abdull Samad
 
Gatt and wto foundation
Gatt and wto   foundationGatt and wto   foundation
Gatt and wto foundationhh_hjs
 
IPE - World Trade Organisation
IPE - World Trade OrganisationIPE - World Trade Organisation
IPE - World Trade OrganisationYuliya Pismennaya
 
United nations conference on trade and development
United nations conference on trade and developmentUnited nations conference on trade and development
United nations conference on trade and developmentHarshit Gupta
 

What's hot (20)

UNCTAD
UNCTADUNCTAD
UNCTAD
 
World Trade Organisation and Case Studies
World Trade Organisation and Case StudiesWorld Trade Organisation and Case Studies
World Trade Organisation and Case Studies
 
Wto presentation
Wto presentationWto presentation
Wto presentation
 
WORLD TRADE ORGANISATION (WTO)
WORLD TRADE ORGANISATION (WTO)WORLD TRADE ORGANISATION (WTO)
WORLD TRADE ORGANISATION (WTO)
 
WTO Some Primary information and History
WTO Some Primary information and HistoryWTO Some Primary information and History
WTO Some Primary information and History
 
World Trade Organisation & International Trade Agreements
World Trade Organisation & International Trade AgreementsWorld Trade Organisation & International Trade Agreements
World Trade Organisation & International Trade Agreements
 
The world trade organization (wto)
The world trade organization (wto)The world trade organization (wto)
The world trade organization (wto)
 
Wto
WtoWto
Wto
 
Uruguay round and doha round
Uruguay round and doha roundUruguay round and doha round
Uruguay round and doha round
 
United Nations Conference on Trade and Development (UNCTAD)
United Nations Conference on Trade and Development (UNCTAD)United Nations Conference on Trade and Development (UNCTAD)
United Nations Conference on Trade and Development (UNCTAD)
 
WTO GATT
WTO GATTWTO GATT
WTO GATT
 
What is gatt
What is gattWhat is gatt
What is gatt
 
WTO world trade organization
WTO world trade organization WTO world trade organization
WTO world trade organization
 
World Trade Organisation (WTO)
World Trade Organisation (WTO)World Trade Organisation (WTO)
World Trade Organisation (WTO)
 
WTO (World Trade Organization)
WTO (World Trade Organization)WTO (World Trade Organization)
WTO (World Trade Organization)
 
Gatt and wto foundation
Gatt and wto   foundationGatt and wto   foundation
Gatt and wto foundation
 
IPE - World Trade Organisation
IPE - World Trade OrganisationIPE - World Trade Organisation
IPE - World Trade Organisation
 
Wto
WtoWto
Wto
 
WTO and GATT
WTO and GATTWTO and GATT
WTO and GATT
 
United nations conference on trade and development
United nations conference on trade and developmentUnited nations conference on trade and development
United nations conference on trade and development
 

Viewers also liked

Wto ppt
Wto pptWto ppt
Wto pptrk2its
 
WTO (World Trade Organisation)
WTO (World Trade Organisation)WTO (World Trade Organisation)
WTO (World Trade Organisation)Tahan Mahmood
 
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...Dr. Oliver Massmann
 
World Trade Organization
World Trade Organization World Trade Organization
World Trade Organization Asifulla Azad
 
world trade organization
world trade organizationworld trade organization
world trade organizationAkeeb Siddiqui
 
Unit 1 Overview of International Business
Unit 1 Overview of International BusinessUnit 1 Overview of International Business
Unit 1 Overview of International BusinessCharu Rastogi
 
Wto (World Trade Organization)
Wto (World Trade Organization)Wto (World Trade Organization)
Wto (World Trade Organization)Rahul Trivedi
 
World Trade Organization - WTO - International Business - Manu Melwin Joy
World Trade Organization - WTO - International Business - Manu Melwin JoyWorld Trade Organization - WTO - International Business - Manu Melwin Joy
World Trade Organization - WTO - International Business - Manu Melwin Joymanumelwin
 
World Trade Organization WTO
World Trade Organization WTOWorld Trade Organization WTO
World Trade Organization WTOGCUF
 
wto(world trade organization)
wto(world trade organization)wto(world trade organization)
wto(world trade organization)ajesh kumar
 
Presentation on wto & india
Presentation on wto & indiaPresentation on wto & india
Presentation on wto & indiaPreeti Gulati
 
Preferential trade agreement
Preferential trade agreementPreferential trade agreement
Preferential trade agreementpavithra gopan
 

Viewers also liked (20)

Wto ppt
Wto pptWto ppt
Wto ppt
 
WTO (World Trade Organisation)
WTO (World Trade Organisation)WTO (World Trade Organisation)
WTO (World Trade Organisation)
 
Wto Final
Wto FinalWto Final
Wto Final
 
Wto
WtoWto
Wto
 
World Trade Organization
World Trade OrganizationWorld Trade Organization
World Trade Organization
 
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...
Omassmann investieren und handel mit vietnam nach beitritt zur welthandelsorg...
 
World Trade Organization
World Trade Organization World Trade Organization
World Trade Organization
 
Wto
WtoWto
Wto
 
world trade organization
world trade organizationworld trade organization
world trade organization
 
Unit 1 Overview of International Business
Unit 1 Overview of International BusinessUnit 1 Overview of International Business
Unit 1 Overview of International Business
 
Wto (World Trade Organization)
Wto (World Trade Organization)Wto (World Trade Organization)
Wto (World Trade Organization)
 
WTO - BRICS Overview
WTO - BRICS OverviewWTO - BRICS Overview
WTO - BRICS Overview
 
World Trade Organization - WTO - International Business - Manu Melwin Joy
World Trade Organization - WTO - International Business - Manu Melwin JoyWorld Trade Organization - WTO - International Business - Manu Melwin Joy
World Trade Organization - WTO - International Business - Manu Melwin Joy
 
Trips and trims
Trips and trimsTrips and trims
Trips and trims
 
WTO and India
WTO and IndiaWTO and India
WTO and India
 
World Trade Organization WTO
World Trade Organization WTOWorld Trade Organization WTO
World Trade Organization WTO
 
wto(world trade organization)
wto(world trade organization)wto(world trade organization)
wto(world trade organization)
 
Presentation on wto & india
Presentation on wto & indiaPresentation on wto & india
Presentation on wto & india
 
Preferential trade agreement
Preferential trade agreementPreferential trade agreement
Preferential trade agreement
 
Wto ppt
Wto pptWto ppt
Wto ppt
 

Similar to Wto World trade organization

wto final.pptx
wto final.pptxwto final.pptx
wto final.pptxFarah Naaz
 
World trade organization
World trade organizationWorld trade organization
World trade organizationMalik Afzaal
 
World trade organisation documentary
World trade organisation documentaryWorld trade organisation documentary
World trade organisation documentaryvvidit
 
WORLD TRADE ORGANIZATION (WTO)
WORLD TRADE ORGANIZATION (WTO)WORLD TRADE ORGANIZATION (WTO)
WORLD TRADE ORGANIZATION (WTO)Jyoti Rastogi
 
World Trade Organization Presentation
World Trade Organization PresentationWorld Trade Organization Presentation
World Trade Organization PresentationAtieq-ur -Rehman
 
PPT on WTO by BHAWNA MISHRA.
PPT on WTO by BHAWNA MISHRA. PPT on WTO by BHAWNA MISHRA.
PPT on WTO by BHAWNA MISHRA. BhawnaMishra15
 
WTO and its role in international business
WTO and its role in international businessWTO and its role in international business
WTO and its role in international businessMalik Awan
 
International marketing
International marketingInternational marketing
International marketinglalrindiki
 
World Trade Organisation
World Trade OrganisationWorld Trade Organisation
World Trade Organisationaishawadhwani
 
World Trade Organisation ( orgins and functions )
World Trade Organisation ( orgins and functions )World Trade Organisation ( orgins and functions )
World Trade Organisation ( orgins and functions )TECHUB
 
Shubham 2020A96M WTO.pptx
Shubham 2020A96M WTO.pptxShubham 2020A96M WTO.pptx
Shubham 2020A96M WTO.pptxVipulBajwa2
 

Similar to Wto World trade organization (20)

Wto by nasir ibal
Wto by nasir ibalWto by nasir ibal
Wto by nasir ibal
 
wto final.pptx
wto final.pptxwto final.pptx
wto final.pptx
 
World trade organization
World trade organizationWorld trade organization
World trade organization
 
World trade organisation documentary
World trade organisation documentaryWorld trade organisation documentary
World trade organisation documentary
 
WORLD TRADE ORGANIZATION (WTO)
WORLD TRADE ORGANIZATION (WTO)WORLD TRADE ORGANIZATION (WTO)
WORLD TRADE ORGANIZATION (WTO)
 
WTO world health organization
 WTO world health organization  WTO world health organization
WTO world health organization
 
WTO
WTOWTO
WTO
 
World Trade Organization Presentation
World Trade Organization PresentationWorld Trade Organization Presentation
World Trade Organization Presentation
 
PPT on WTO by BHAWNA MISHRA.
PPT on WTO by BHAWNA MISHRA. PPT on WTO by BHAWNA MISHRA.
PPT on WTO by BHAWNA MISHRA.
 
Presentation1 wto
Presentation1 wtoPresentation1 wto
Presentation1 wto
 
wto
 wto wto
wto
 
WTO and its role in international business
WTO and its role in international businessWTO and its role in international business
WTO and its role in international business
 
WTO
WTOWTO
WTO
 
International marketing
International marketingInternational marketing
International marketing
 
World Trade Organisation
World Trade OrganisationWorld Trade Organisation
World Trade Organisation
 
World Trade Organisation
World Trade OrganisationWorld Trade Organisation
World Trade Organisation
 
Word Trade Organization
Word Trade OrganizationWord Trade Organization
Word Trade Organization
 
WTO.pptx
WTO.pptxWTO.pptx
WTO.pptx
 
World Trade Organisation ( orgins and functions )
World Trade Organisation ( orgins and functions )World Trade Organisation ( orgins and functions )
World Trade Organisation ( orgins and functions )
 
Shubham 2020A96M WTO.pptx
Shubham 2020A96M WTO.pptxShubham 2020A96M WTO.pptx
Shubham 2020A96M WTO.pptx
 

More from Md.Rezaul Hoque Razu (19)

Critical Analysis on Sec-57 of ICT Act 2006’’
Critical Analysis on Sec-57 of ICT Act 2006’’Critical Analysis on Sec-57 of ICT Act 2006’’
Critical Analysis on Sec-57 of ICT Act 2006’’
 
Renvoi...
Renvoi...Renvoi...
Renvoi...
 
Private international law
Private international  lawPrivate international  law
Private international law
 
Crime and criminal law
Crime and criminal law Crime and criminal law
Crime and criminal law
 
Classification of human rights (md. rezaul hoque razu
Classification of human rights (md. rezaul hoque razuClassification of human rights (md. rezaul hoque razu
Classification of human rights (md. rezaul hoque razu
 
Development of criminology
Development of criminologyDevelopment of criminology
Development of criminology
 
Human Rights protection mechanism
Human Rights protection mechanismHuman Rights protection mechanism
Human Rights protection mechanism
 
Right to education
Right to educationRight to education
Right to education
 
Ombudsman
Ombudsman Ombudsman
Ombudsman
 
Rule of law in bangladesh
Rule of law in bangladeshRule of law in bangladesh
Rule of law in bangladesh
 
Rule of law in bangladesh
Rule of law in bangladeshRule of law in bangladesh
Rule of law in bangladesh
 
Motor vehicles and environmental pollutions
Motor vehicles and environmental pollutionsMotor vehicles and environmental pollutions
Motor vehicles and environmental pollutions
 
Forests in bangladesh and their conservation
Forests in bangladesh and their conservationForests in bangladesh and their conservation
Forests in bangladesh and their conservation
 
Family rights under cedaw convention
Family rights under cedaw conventionFamily rights under cedaw convention
Family rights under cedaw convention
 
Prison system of_bangladesh
Prison system of_bangladeshPrison system of_bangladesh
Prison system of_bangladesh
 
Juvenile delinquency
Juvenile delinquencyJuvenile delinquency
Juvenile delinquency
 
Cyber crime
Cyber crimeCyber crime
Cyber crime
 
Child rights(1)
Child rights(1)Child rights(1)
Child rights(1)
 
Sale and agreement to sale
Sale and agreement to saleSale and agreement to sale
Sale and agreement to sale
 

Recently uploaded

Illinois Department Of Corrections reentry guide
Illinois Department Of Corrections reentry guideIllinois Department Of Corrections reentry guide
Illinois Department Of Corrections reentry guideillinoisworknet11
 
RA. 7432 and RA 9994 Senior Citizen .pptx
RA. 7432 and RA 9994 Senior Citizen .pptxRA. 7432 and RA 9994 Senior Citizen .pptx
RA. 7432 and RA 9994 Senior Citizen .pptxJFSB1
 
Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,18822020000445musaib
 
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptx
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptxSarvesh Raj IPS - A Journey of Dedication and Leadership.pptx
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptxAnto Jebin
 
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdf
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdfWurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdf
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdfssuser3e15612
 
1990-2004 Bar Questions and Answers in Sales
1990-2004 Bar Questions and Answers in Sales1990-2004 Bar Questions and Answers in Sales
1990-2004 Bar Questions and Answers in SalesMelvinPernez2
 
PPT Template - Federal Law Enforcement Training Center
PPT Template - Federal Law Enforcement Training CenterPPT Template - Federal Law Enforcement Training Center
PPT Template - Federal Law Enforcement Training Centerejlfernandez22
 
Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.2020000445musaib
 
Hungarian legislation made by Robert Miklos
Hungarian legislation made by Robert MiklosHungarian legislation made by Robert Miklos
Hungarian legislation made by Robert Miklosbeduinpower135
 
Department order DAO 97-32. powerpoint presentation
Department order DAO 97-32. powerpoint presentationDepartment order DAO 97-32. powerpoint presentation
Department order DAO 97-32. powerpoint presentationPhillisYvonMarshBagu
 
citizenship in the Philippines as to the laws applicable
citizenship in the Philippines as to the laws applicablecitizenship in the Philippines as to the laws applicable
citizenship in the Philippines as to the laws applicableSaraSantiago44
 
Grey Area of the Information Technology Act, 2000.pptx
Grey Area of the Information Technology Act, 2000.pptxGrey Area of the Information Technology Act, 2000.pptx
Grey Area of the Information Technology Act, 2000.pptxBharatMunjal4
 
Understanding Cyber Crime Litigation: Key Concepts and Legal Frameworks
Understanding Cyber Crime Litigation: Key Concepts and Legal FrameworksUnderstanding Cyber Crime Litigation: Key Concepts and Legal Frameworks
Understanding Cyber Crime Litigation: Key Concepts and Legal FrameworksFinlaw Associates
 
Attestation presentation under Transfer of property Act
Attestation presentation under Transfer of property ActAttestation presentation under Transfer of property Act
Attestation presentation under Transfer of property Act2020000445musaib
 
Labour legislations in India and its history
Labour legislations in India and its historyLabour legislations in India and its history
Labour legislations in India and its historyprasannamurthy6
 
Guide for Drug Education and Vice Control.docx
Guide for Drug Education and Vice Control.docxGuide for Drug Education and Vice Control.docx
Guide for Drug Education and Vice Control.docxjennysansano2
 
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTS
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTSTHE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTS
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTSRoshniSingh312153
 
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los Angeles
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los AngelesAre There Any Alternatives To Jail Time For Sex Crime Convictions in Los Angeles
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los AngelesChesley Lawyer
 
Alexis O'Connell Arrest Records Houston Texas lexileeyogi
Alexis O'Connell Arrest Records Houston Texas lexileeyogiAlexis O'Connell Arrest Records Houston Texas lexileeyogi
Alexis O'Connell Arrest Records Houston Texas lexileeyogiBlayneRush1
 
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptx
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptxThe Punjab Land Reforms AcT 1972 HIRDEBIR.pptx
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptxgurcharnsinghlecengl
 

Recently uploaded (20)

Illinois Department Of Corrections reentry guide
Illinois Department Of Corrections reentry guideIllinois Department Of Corrections reentry guide
Illinois Department Of Corrections reentry guide
 
RA. 7432 and RA 9994 Senior Citizen .pptx
RA. 7432 and RA 9994 Senior Citizen .pptxRA. 7432 and RA 9994 Senior Citizen .pptx
RA. 7432 and RA 9994 Senior Citizen .pptx
 
Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882Conditions Restricting Transfer Under TPA,1882
Conditions Restricting Transfer Under TPA,1882
 
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptx
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptxSarvesh Raj IPS - A Journey of Dedication and Leadership.pptx
Sarvesh Raj IPS - A Journey of Dedication and Leadership.pptx
 
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdf
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdfWurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdf
Wurz Financial - Wealth Counsel to Law Firm Owners Services Guide.pdf
 
1990-2004 Bar Questions and Answers in Sales
1990-2004 Bar Questions and Answers in Sales1990-2004 Bar Questions and Answers in Sales
1990-2004 Bar Questions and Answers in Sales
 
PPT Template - Federal Law Enforcement Training Center
PPT Template - Federal Law Enforcement Training CenterPPT Template - Federal Law Enforcement Training Center
PPT Template - Federal Law Enforcement Training Center
 
Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.Analysis on Law of Domicile under Private International laws.
Analysis on Law of Domicile under Private International laws.
 
Hungarian legislation made by Robert Miklos
Hungarian legislation made by Robert MiklosHungarian legislation made by Robert Miklos
Hungarian legislation made by Robert Miklos
 
Department order DAO 97-32. powerpoint presentation
Department order DAO 97-32. powerpoint presentationDepartment order DAO 97-32. powerpoint presentation
Department order DAO 97-32. powerpoint presentation
 
citizenship in the Philippines as to the laws applicable
citizenship in the Philippines as to the laws applicablecitizenship in the Philippines as to the laws applicable
citizenship in the Philippines as to the laws applicable
 
Grey Area of the Information Technology Act, 2000.pptx
Grey Area of the Information Technology Act, 2000.pptxGrey Area of the Information Technology Act, 2000.pptx
Grey Area of the Information Technology Act, 2000.pptx
 
Understanding Cyber Crime Litigation: Key Concepts and Legal Frameworks
Understanding Cyber Crime Litigation: Key Concepts and Legal FrameworksUnderstanding Cyber Crime Litigation: Key Concepts and Legal Frameworks
Understanding Cyber Crime Litigation: Key Concepts and Legal Frameworks
 
Attestation presentation under Transfer of property Act
Attestation presentation under Transfer of property ActAttestation presentation under Transfer of property Act
Attestation presentation under Transfer of property Act
 
Labour legislations in India and its history
Labour legislations in India and its historyLabour legislations in India and its history
Labour legislations in India and its history
 
Guide for Drug Education and Vice Control.docx
Guide for Drug Education and Vice Control.docxGuide for Drug Education and Vice Control.docx
Guide for Drug Education and Vice Control.docx
 
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTS
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTSTHE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTS
THE INDIAN CONTRACT ACT 1872 NOTES FOR STUDENTS
 
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los Angeles
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los AngelesAre There Any Alternatives To Jail Time For Sex Crime Convictions in Los Angeles
Are There Any Alternatives To Jail Time For Sex Crime Convictions in Los Angeles
 
Alexis O'Connell Arrest Records Houston Texas lexileeyogi
Alexis O'Connell Arrest Records Houston Texas lexileeyogiAlexis O'Connell Arrest Records Houston Texas lexileeyogi
Alexis O'Connell Arrest Records Houston Texas lexileeyogi
 
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptx
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptxThe Punjab Land Reforms AcT 1972 HIRDEBIR.pptx
The Punjab Land Reforms AcT 1972 HIRDEBIR.pptx
 

Wto World trade organization

  • 1. What is the WTO?  The World Trade Organization (WTO) is an international organization designed by its founders to supervise and liberalize international trade.  The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1947.
  • 2. What is the WTO?  The World Trade Organization (WTO) is the 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.
  • 3. WTOWTO BRIEF HISTORY The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation - notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund.
  • 4. WTOWTO BRIEF HISTORY A comparable international institution for trade, named the International Trade Organization was successfully negotiated. The ITO was to be a United Nations specialized agency and would address not only trade barriers but other issues indirectly related to trade, including employment, investment, restrictive business practices, and commodity agreements. But the ITO treaty was not approved by the United States and a few other signatories and never went into effect.
  • 5. WTOWTO BRIEF HISTORY In the absence of an international organization for trade, the GATT would over the years "transform itself" into a de facto international organization. The GATT was the only multilateral instrument governing international trade from 1948 until the WTO was established in 1995.
  • 6. Important Functions of WTO  It oversees the implementation, administration and operation of the covered agreements.  It provides a forum for negotiations and for settling disputes.  Additionally, it is the WTO's duty to review and propagate the national trade policies, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making.  Another priority of the WTO is the assistance of developing, least- developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.[  The WTO is also a center of economic research and analysis: regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization.  Finally, the WTO cooperates closely with the two other components of the Bretton Woods system, the IMF and the World Bank.
  • 7. THE ORGANIZATION  THE OBJECTIVES:  The WTO’s overriding objective is to help trade flow smoothly, freely, fairly and predictably.  It does this by:  Administering trade agreements  Acting as a forum for trade negotiations  Settling trade disputes  Reviewing national trade policies  Assisting developing countries in trade policy issues, through technical assistance and training programmes  Cooperating with other international organizations
  • 8. Structure The WTO has 164 members, accounting for over 97% of world trade. Decisions are made by the entire membership. This is typically by consensus. A majority vote is also possible but it has never been used in the WTO, and was extremely rare under the WTO’s predecessor, GATT. The WTO’s agreements have been ratified in all members’ parliaments.
  • 9. Structure The WTO’s top level decision-making body is the Ministerial Conference which meets at least once every two years. Below this is the General Council (normally ambassadors and heads of delegation in Geneva, but sometimes officials sent from members’ capitals) which meets several times a year in the Geneva headquarters. The General Council also meets as the Trade Policy Review Body and the Dispute Settlement Body. At the next level, the Goods Council, Services Council and Intellectual Property (TRIPS) Council report to the General Council. Numerous specialized committees, working groups and working parties deal with the individual agreements and other areas such as the environment, development, membership applications and regional trade agreements.
  • 10. Secretariat   The WTO Secretariat, based in Geneva, has around 625 staff and is headed by a director- general.  Its annual budget is roughly 189 million Swiss francs.  It does not have branch offices outside Geneva.  Since decisions are taken by the members themselves, the Secretariat does not have the decision-making role that other international bureaucracies are given.
  • 11. Principles of the trading system  Five principles are of particular importance in understanding both the pre-1994 GATT and the WTO.  Non-Discrimination.  It has two major components: the most favoured nation (MFN) rule, and the national treatment policy.  The MFN rule requires that a WTO member must apply the same conditions on all trade with other WTO members.  National treatment means that imported goods should be treated no less favorably than domestically-produced goods (at least after the foreign goods have entered the market) and was introduced to tackle non-tariff barriers to trade (e.g. technical standards, security standards et al. discriminating against imported goods).