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WTO (World Trade Organization)
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2.
3. Presented to:
Prof. Itrat
Presented by:
Farhan Bashir
M.Usman
Irfan Arshad
Maqbool Ahmed
L4s12mcom2151
L4s12mcom2139
L4s12mcom2133
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4. OBJECTIVES OF Presentation
⢠To have an understanding of WTO, principles and
functions of WTO
⢠To study the structure of WTO
⢠To study the role of WTO
⢠To study the relevance of WTO
⢠To study the provision of TRIPs, TRIMs of WTO
⢠To have a knowledge of different agreements done
under WTO guidance
⢠To study role of WTO in developing countries
⢠To study criticism of WTO
6. International Trade Organization
(ITO)
It was proposed organization that would
serve as the supervising and negotiating
body for global trade.
It was proposed together with the creation
of International Monitoring Fund and
World Bank in 1944 post world war II
negotiations.
7. General Agreement on Tariffs and
Trade
GATT was a multilateral agreement regulating
international trade. Its purpose was the "significant
reduction of tariffs and other trade barriers and the
elimination of preferences.â
It was created during the United Nations Conference on
Trade and Employment in 1947.
8. What is the World Trade Organization
âThe World Trade Organization is
âmember-drivenâ, with decisions taken by
General agreement among all member of
governments and it deals with the rules of
trade between nations at a globalâ.
The World Trade Organization (WTO)
came into being on January 1st 1995. It was
the outcome of GATT negotiations.
9. FACT FILE OF WTO
Location
Geneva, Switzerland
Established
1 January 1995
Created by
Uruguay Round negotiations
(1986-94)
Membership
159 countries on March 2013
Budget
197,203,900 Swiss francs
for 2013
Secretariat staff
625
Head
Pascal Lamy (DirectorGeneral)
10. STRUCTURES OF WTO
Ministerial Conference
Dispute
Settlement Body
The Committee
on T&D and
T&E
General Council
Goods Council
Intellectual
Property Council
Trade Policy
Review Body
Services Council
18. Why WTO?
⢠To implement, administration and operations of
multilateral and Plurilateral trade agreements
⢠To arrange the forum for discussions of the
nations in regard to their multilateral trade
relations in issues deal with under the
agreements.
⢠To manage the created understanding on rules
and procedure governing the settlement of
disputes.
19. Con...
⢠To manage effectively and efficiency the trade
policy review mechanism.
⢠To create more relationship with all nations in
respect of global economic policy-making, it
would cooperate with the IMF and the world
bank & its affiliated Organizations.
20. FUNCTIONS OF WTO
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â˘
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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.
21. PRINCIPLES OF WTO
⢠Trade Without Discrimination
1. Most-favoured-nation (MFN): treating other
people equally      Under the WTO agreements,Â
countries cannot normally discriminate between theirÂ
trading partners. Grant someone a special favour (suchÂ
as a lower customs duty rate for one of their products)Â
and you have to do the same for all other WTOÂ
members.
2. National treatment: Treating foreigners and locals
equally      Imported and locally-produced goodsÂ
should be treated equally, at least after the foreignÂ
goods have entered the market. The same should applyÂ
to foreign and domestic services and to foreign andÂ
local trademarks, copyrights and patents.Â
22. Con...
⢠Free trade: gradually, through negotiation
    Lowering trade barriers is one of the most obvious means ofÂ
encouraging trade. The barriers concerned include customsÂ
duties (or tariffs) and measures such as import bans or quotasÂ
that restrict quantities selectively
⢠Predictability: through binding and transparency
     Sometimes, promising not to raise a trade barrier can be asÂ
important as lowering one, because the promise givesÂ
businesses a clearer view of their future opportunities. TheÂ
multilateral trading system is an attempt by governments toÂ
make the business environment stable and pre
dictable.
23. Con...
⢠Promoting fair competition
    The WTO is sometimes described as a âfree tradeâÂ
institution, but that is not entirely accurate. The systemÂ
does allow tariffs and, in limited circumstances, otherÂ
forms of protection. More accurately, it is a system ofÂ
rules dedicated to open, fair and accurate competition.
⢠Encouraging development and economic reform.
     The WTO system contributes to development. On theÂ
other hand, developing countries need flexibility in theÂ
time they take to implement the systemâs agreements.Â
37. CONCLUSION
⢠It is the place where the member country comes and
talks together and shares their grievance in order to
resolve their problem related to International trade.
⢠The countries make their decisions through various
councils and committees, whose membership consists
of all WTO members.
⢠The system helps promote peace, by handling Dispute
of member countries. It provides free trade which cuts
the costs of living and provides more choice of
products and qualities and stimulates economic growth.