PRESENTATION ON WTO (WORLD TRADE ORGANISATION) SREEJA P. NAIR – KH08JUNMBA102 SREEJA V. NAIR – KH08JUNMBA103 RATISH VENUGOPAL – KH08JUNMBA 92 SREEVIDYA NARAYANAN – KH08JUNMBA 104VERONICA THOMAS - KH08JUNMBA108
W T O (World Trade Organization)The WTO is the only global international organizationdealing with the rules of trade between nations. WTO came into existence on January 1st, 1995replacing GATT (General Agreement on Trade & Tariffs) It consists of 81 countries and territories – cover 90%of International trade in goods and services. Currently WTO has 144 countries. Source :- www.wto.org.in
STRUCTURE OF WTO• WTO is dominated by its highest authority – Ministerial conference.• Day to Day activities of WTO is managed by a no of subsidiary bodies which include the General council.• General Council delegates responsibility to three other major bodies - namely the Councils for Trade in Goods, Trade in Services and Trade-Related Aspects of Intellectual Property. Source:- www.wto.org.in Continued……..
•Three other bodies are established by the Ministerial Conference and report to the General Council.• They are namely Committee on Trade &Development, Committee on Balance of Paymentsand Committee on Budget.• There are other three agreements of the WTO –those on civil aircraft , government procurement,dairy products and bovine meat.
I - Multilateral Agreements on Trade inGoods, with the following components:(1) GATT 1994, consisting of the following: GATT 1947, i.e., the original GATT with its amendments etc. asit stands up to 31 December 1994; Decisions taken under GATT 1947 up to tat date; Understandings reached in the Uruguay Round in six areas,viz., other duties and charges, state trading enterprises, balance-of-payments provisions, customs unions and free-trade areas, waivers ofobligations, and tariff modification; and Tariff schedules and the manner of implementation of theseschedules as agreed to in the Uruguay Round
(2) Other agreements in the area of goods,viz. the 12 agreements covering the areasof: Agriculture Sanitary and Phytosanitary Measures Textiles and Clothing Technical Barriers to Trade Trade-Related Investment Measures Anti-Dumping Customs Valuations Preshipment Inspections Rules of Origin Import Licensing Subsidies and Safeguard
(3) - General Agreement on Trade inServices(4) - Agreement on Trade-RelatedAspects of Intellectual Property Rights(5) - Trade Policy Review Mechanism(6) - Understanding on the Settlement ofDisputes
EFFECTS OF WTO Effects of WTO on developing countries. Effects of WTO agricultural reforms in rich and poor countries. Effects of WTO frame work on industrial tariff cuts. Effects of WTO on domestic pharmaceutical sector. Continued……..
Effects of WTO Judicial delegation on U.S. tradepolitics. Effects of WTO on Anti Corruption Disciplines. Effects of WTO on Human ResourceManagement. Effects of WTO on Chinese economy. Effects of WTO on Russian economy.
Effects of WTO in Indian economy.WTO & Indian Agriculture.The reality of rising food prices.Free Trade – Destroys Farming System .Patent Protection.Globalization.
Salient features of WTO Agreement on Agriculture Market Access Tariffication Tariff reduction Special Safeguard Domestic Support Export subsidies
Obstacles of WTO Agreement on Agriculture Using discriminatory market access measures to counter other’s domestic measures. Domestic Support is the weakest in terms of arrangements that ensures reduced market disortation