2. Introduction
 Meaning
 It was established on 1st Jan 1995.
 It aims at solving the problems related to international
trade.
 W.T.O office is located at Geneva,Switzerland.
 At present 149 countries in the world are the members
of W.T.O
 It functions along with the world bank.
 It is regarded as third economic pillar of World Trade
and Commerce along with IMF and IBRD.

4. Profile
 Abbreviation :WTO
 Formation : 1 January 1995; 20 years ago
 Type : International trade organization
 Purpose : Regulate international trade
 Headquarters : Geneva,Switzerland.
 Region served : Worldwide
 Membership : 161 member states
 Official language :English, French, Spanish
 Director-General : Roberto Azevêdo
 Budget : 196 million Swiss francs (approx. 209 million US$) in
2011.
 Staff : 640
 Website www.wto.org

6. Objectives of WTO
Important objectives of WTO are mentioned below:
 (i) to implement the new world trade system as visualised in
the Agreement;
 (ii) to promote World Trade in a manner that benefits every
country;
 (iii) to ensure that developing countries secure a better balance
in the sharing of the advantages resulting from the expansion of
international trade corresponding to their developmental needs;

7.  (iv) to demolish all hurdles to an open world trading system
and usher in international economic renaissance because the
world trade is an effective instrument to foster economic
growth;
 (v) to enhance competitiveness among all trading partners so as
to benefit consumers and help in global integration;
 (vi) to increase the level of production and productivity with a
view to ensuring level of employment in the world;
 (vii) to expand and utilize world resources to the best;
 (viii) to improve the level of living for the global population
and speed up economic development of the member nations.

9. Principles
The WTO consists of fundamental principles that are the
foundation of the multilateral trading system.
 Non-Discrimination
 Binding and Enforceable Commitments
 Transparency
 Single Undertaking
 Safety Valves

10. WTO Agreements

11. GATT
 It all began with trade in goods. From 1947 to 1994,
GATT was the forum for negotiating lower customs duty
rates and other trade barriers; the text of the General
Agreement spelt out important rules, particularly non-
discrimination.
 Since 1995, the updated GATT has become the WTO’s
umbrella agreement for trade in goods. It has annexes
dealing with specific sectors such as agriculture and
textiles, and with specific issues such as state trading,
product standards, subsidies and actions taken against
dumping.

12. GATS
 Banks, insurance firms, telecommunications companies,
tour operators, hotel chains and transport companies
looking to do business abroad can now enjoy the same
principles of freer and fairer trade that originally only
applied to trade in goods.
 These principles appear in the new General Agreement on
Trade in Services (GATS). WTO members have also made
individual commitments under GATS stating which of
their services sectors they are willing to open to foreign
competition, and how open those markets are.

13. TRIPS
 The WTO’s intellectual property agreement amounts
to rules for trade and investment in ideas and
creativity. The rules state how copyrights, patents,
trademarks, geographical names used to identify
products, industrial designs, integrated circuit layout-
designs and undisclosed information such as trade
secrets — “intellectual property” — should be
protected when trade is involved. In Nutshell , the
TRIPs Agreement covers 7 categories of intellectual
property .

14. Dispute settlement System
 The WTO’s procedure for resolving trade quarrels
under the Dispute Settlement Understanding is vital
for enforcing the rules and therefore for ensuring that
trade flows smoothly. Countries bring disputes to the
WTO if they think their rights under the agreements
are being infringed. Judgements by specially-
appointed independent experts are based on
interpretations of the agreements and individual
countries’ commitments.

15. TPRM
 The Trade Policy Review Mechanism’s purpose is to
improve transparency, to create a greater
understanding of the policies that countries are
adopting, and to assess their impact. Many members
also see the reviews as constructive feedback on their
policies.
 All WTO members must undergo periodic scrutiny,
each review containing reports by the country
concerned and the WTO Secretariat.

16. Functions of WTO
1. To improve the standard of living of people in the
member countries.
2. To ensure full employment and broad increase in
effective demand.
3. To enlarge production and trade of goods.
4. To increase the trade of services.
5. To ensure optimum utilization of world resources.
6. To protect the environment.
7. To accept the concept of sustainable development.

17. W.T.O And India

18. The GATT secretariat estimated that largest increase in the level of
merchandise trade in goods (in general, it would be US $ 745 billion .)
 will be in the areas of clothing (60 per cent), agriculture, forestry and
fishery products (20 per cent) and processed food and beverages (19 per
cent).
India's textile and clothing exports will increase due to the phasing out
of Multi-fibre An'angement (MFA) .
The reduction in agricultural subsidies and barriers to export of
agricultural products, agricultural exports from India will increase .
Increase in the market share in the world exports from 0.5% to 1%

19. •Expansion in trade: world bank, OECD and GAAT secretariat have estimated
that the income effects of the implementation.
•Phasing out of the MFA: it has been argued that the phasing out of the MFA
by 2005 will india as the export of textiles and clothing will increase.
•Improved prospects for agriculture exports: as a result of likely increase in
world prices of agricultural product due to reduction in domestic subsidies and
barriers to trade.
WTO IN INDIA OF BENEFITS

20. Cont,,,
 Multilateral rules and disciplines: the most
important of these relate to anti-dumping,
subsidies and countervailing measures safeguards
and disputes settlement.

21. THANK YOU