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    WTO Summary

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    laotzu1752
    The document discusses the World Trade Organization (WTO). It was established in 1995 as the successor to GATT and is responsible for regulating international trade. The key objectives of the WTO are to liberalize trade, ensure fair trade practices, settle trade disputes, and review national trade policies. It has over 150 member countries and seeks to promote global economic growth through cooperation and by removing barriers to trade. The WTO agreements aim to create predictable trade rules and encourage fair competition through principles like most favored nation status and national treatment.

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    WTO Summary

    Uploaded by

    laotzu1752
    137 views5 pages
    The document discusses the World Trade Organization (WTO). It was established in 1995 as the successor to GATT and is responsible for regulating international trade. The key objectives of the WTO are to liberalize trade, ensure fair trade practices, settle trade disputes, and review national trade policies. It has over 150 member countries and seeks to promote global economic growth through cooperation and by removing barriers to trade. The WTO agreements aim to create predictable trade rules and encourage fair competition through principles like most favored nation status and national treatment.

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    The document discusses the World Trade Organization (WTO). It was established in 1995 as the successor to GATT and is responsible for regulating international trade. The key objectives of the WTO are to liberalize trade, ensure fair trade practices, settle trade disputes, and review national trade policies. It has over 150 member countries and seeks to promote global economic growth through cooperation and by removing barriers to trade. The WTO agreements aim to create predictable trade rules and encourage fair competition through principles like most favored nation status and national treatment.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    137 views5 pages

    WTO Summary

    Uploaded by

    laotzu1752
    The document discusses the World Trade Organization (WTO). It was established in 1995 as the successor to GATT and is responsible for regulating international trade. The key objectives of the WTO are to liberalize trade, ensure fair trade practices, settle trade disputes, and review national trade policies. It has over 150 member countries and seeks to promote global economic growth through cooperation and by removing barriers to trade. The WTO agreements aim to create predictable trade rules and encourage fair competition through principles like most favored nation status and national treatment.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    WTO summary: World trade organization- establishment in 1995- one of youngest international organizations (among World Bank, IMF-

    in Bretton Woodss conference). WTOsuccessor of the GATT. WTO objectives:


    1.

    Assistance to developing countries (trade policy issues, technical assistance, training) Cooperating with other international organizations Administering trade agreements (Anti dumping, photo sanitary, antidumping etc) Forum for trade negotiations (e.g. Doha development round-20012008(stop)-concerning agricultural issues. Settling trade disputes Reviewing national trade policies.

    2. 3.

    4.

    5. 6.

    Some important figures: 1950-1997- Trade increased by 14 times annual growth of exports grow on average by 6%. WTO- creating sound and prosperous trading system- leading to world economic growth. WTO-developed through series of negotiations-Uruguay round -70 years. Ended in 1994. WTO-is an international institution that plays an important role in the global financial system. Promote free trade and abolish trade barriers, tariffs etc. Note that WTO-only agency dealing with International trade. WTO-148 members China last member to sign.

    GATT- trade in goods GATS-Trade in services TRIPS-intellectual property rights.

    NOV 1999- 3rd ministerial meeting of WTO collapses in USA-Seattle- as anti globalization campaigns- protest- fight etch . Say that WTO open up markets but only transnationals are benefiting- causing damage to local economy and local people. WTO system- rules and procedures are undemocratic, un-transparent, and unaccountable- marginalize world people.

    Very important principles: MFN- like products , different coutries-same treatment, no discrimination. Unconditionally, any favour, advantage etcc. Article 3 NT-my country and other coutries-no discrimination.

    WTO WTO-remove trade barriers-promote free trade- closely associated with globalization. WTO members can participate in all councils, committees etc (excepts appellate body, dispute settlement body etc) WTO- WTO agreements- negotiated and signed by world trading nations.- trade agreements are like contracts.-To help trade flow smoothly.

    A few more facts and properties of WTO:

    1.

    Set of rules- trade agreements- signed by members- agree to abide by the agreements.- aim FREE TRADE. Settling dispute-dispute settlement body Principles- MFN, NT NO DISCRIMINATION Predictability- foreign companies, investors, governments- confident that trade barriers (tarrifs and non tariffs barriers) should not be raises arbirearily. More competitive- discouraging unfair practices (export subsidies) and preventing dumping products. More beneficial- for less developed countries- more time to adjust, greater flexibility and special privileges. Assisting developing and transition economies. Developing countries- of total WTO membership. Specialised help for exporting : International trade center- established by GATT in 1964- request of developing countries- to help promote their exports- jointly operated by WTO and UN. Center responds to request from developing countries for assistance in formulating and implementing export promotion programmes as well as import operations and techniques. Etcc WTO in global economic policy-making WTO cooperate with IMF and WB- and other multilateral institutions to achieve greater coherence in global economic policy making. developed countries- special and differential treatment- allow developing countries to treat developing countries more favorably than other WTO members. Prefential treatments.

    2. 3. 4.

    5.

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    10. Least

    Rounds of WTO Tariffs was a serious problem initially- protectionist tool used by many countries in the past. Early rounds of WTO focusesd ont tariff issues.

    First round- 1947- Geneva-switzerland. Resolving many tariff issues.- tariff reduction that became part of GATTSecond round- 1949-Annecy France- Further Tariff concessions. Other as well- tariffs.. etcc etcc 1964-1967- Geneva-Kennedy round- tariffs and anti dumping issues. Etcc

    Summary:

    Uruguay round- 1986-1994 Tariffs and non tariff issues and other- lead to creation of the WTO. 1994-final meeting of ministers in Marrackesh-Morocco- to establish the WTO and complete the Uruguay round. Uruguay round- was most comprehensive and complex or trade negociations.aims- advance trade liberalization in may areas.

    Note that: ministerial meeting so of WTO take place every 2 years.

    6 WTO ministerial conferences:


    1) 2) 3) 4)

    1996-Singapore 1998- geneva-switzerland. Seattle-Washington-problem- fights etc.FAILURE. public protestes etc Doha ,Qatar- 2001- Prioritizing the development of poor countriesdevelopment round. Lots of controversy. Qatar chosen as severe laws of protests.- DEVELOPING countries marginalized and ignored.- stopped in 2008. Developed countries Vs developing countrues probles- on agricultural stuffs. 2003-Mexico- make some progress in negocations of the Doha round.

    5)

    2003- Singapore issue (investment, competition policy, transparency, government procurement)- to know Next day of conference- membership of 2 new participants- Cambodia and Nepal. Job of facilitators- assist the chairperson in trying to reach a consensus on their subjects. Negociations concerning the Singapore issue then took place: These are: Trade and investment, trade and competition policy, transparency in government procurement and trade facilitation. A number of developed and developing coutries said that Singapore issues are integral elements of the Doha round, like agriculture and non agricultural market acces, and that

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