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    International Business: WTO Functions and Objectives Aoa, Gats, Trips, Trims by - Shraddha Vichare

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    The document discusses the functions and objectives of the World Trade Organization (WTO). It provides information on key WTO agreements including the Agreement on Agriculture (AOA), General Agreement on Trade in Services (GATS), Trade Related Investment Measures (TRIMs), and Trade Related Aspects of Intellectual Property Rights (TRIPS). The WTO aims to liberalize and facilitate global trade through reducing trade barriers and providing a forum for negotiation and dispute settlement between member countries. However, some WTO agreements have benefited developed nations more than developing countries due to the larger financial and technological resources of developed member states.

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    International Business: WTO Functions and Objectives Aoa, Gats, Trips, Trims by - Shraddha Vichare

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    SHRADDHA
    156 views12 pages
    The document discusses the functions and objectives of the World Trade Organization (WTO). It provides information on key WTO agreements including the Agreement on Agriculture (AOA), General Agreement on Trade in Services (GATS), Trade Related Investment Measures (TRIMs), and Trade Related Aspects of Intellectual Property Rights (TRIPS). The WTO aims to liberalize and facilitate global trade through reducing trade barriers and providing a forum for negotiation and dispute settlement between member countries. However, some WTO agreements have benefited developed nations more than developing countries due to the larger financial and technological resources of developed member states.

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    World Trade Organisation

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    IB_WTO

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    The document discusses the functions and objectives of the World Trade Organization (WTO). It provides information on key WTO agreements including the Agreement on Agriculture (AOA), General Agreement on Trade in Services (GATS), Trade Related Investment Measures (TRIMs), and Trade Related Aspects of Intellectual Property Rights (TRIPS). The WTO aims to liberalize and facilitate global trade through reducing trade barriers and providing a forum for negotiation and dispute settlement between member countries. However, some WTO agreements have benefited developed nations more than developing countries due to the larger financial and technological resources of developed member states.

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    156 views12 pages

    International Business: WTO Functions and Objectives Aoa, Gats, Trips, Trims by - Shraddha Vichare

    Uploaded by

    SHRADDHA
    The document discusses the functions and objectives of the World Trade Organization (WTO). It provides information on key WTO agreements including the Agreement on Agriculture (AOA), General Agreement on Trade in Services (GATS), Trade Related Investment Measures (TRIMs), and Trade Related Aspects of Intellectual Property Rights (TRIPS). The WTO aims to liberalize and facilitate global trade through reducing trade barriers and providing a forum for negotiation and dispute settlement between member countries. However, some WTO agreements have benefited developed nations more than developing countries due to the larger financial and technological resources of developed member states.

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    International Business

    • WTO
    • FUNCTIONS AND OBJECTIVES
    • AOA, GATS, TRIPS, TRIMS
    By – Shraddha Vichare
    About WTO
    About WTO
     The Uruguay Round of GATT (1986-94) gave birth to WTO
     Officially constituted on 1st January 1995
     Headquarter is at Geneva , Switzerland
     Highest authority is Ministerial Conference
     Present strength 164 countries
     161st member nation was Seychelles.
     Afghanistan became 164th member nation
     Two important committees are Dispute Settlement Body (DSB) and Trade
    Policy Review Body (TPRB)
     Other bodies are Council for Trade in Goods, Council for Trade in services
    Important points about WTO
    FUNCTIONS

    1. Reduction in Trade barriers


    2. Assistance to developing countries
    3. Forum for negotiations
    4. Administration of WTO agreements
    5. Collection of information
    6. Consultancy services
    7. Examination of member nations policies
    8. Settlement of disputes
    OBJECTIVES
    1. Increasing world trade and development
    2. Trade without discrimination (TWD) with application of MFN Clause
    MFN Clause
    •The MFN rule requires that a WTO member must apply the same conditions on all trade with
    other WTO members i.e. a WTO member has to grant the most favorable conditions under
    which it allows trade in a certain product type to all other WTO members. Grant someone a
    special favor and you have to do the same for all other WTO members.
    3. Optimum use of world resources.
    4.To improve standard of living of people in the member countries
    5.To ensure full employment and broad increase in effective demand
    6. To enlarge production and trade of goods
    7. To enlarge production and trade in services
    WTO AGREEMENTS
    TRIPS
    ( Trade Related Intellectual Property Rights)

     It gives protection to patents, copyrights, trade marks etc


     POSITIVE IMPACT
     It has benfited developing nations like Brazil, India, China and others.
     The firms in developing nations have also developed new products and got
    them patented. For eg. Darjeeling Tea, Goa Feni etc.
     NEGATIVE IMPACT
     The firms from developed nations hold large number of patents due to
    huge financial resources, technology and skills etc
     The firms from developing countries have to pay huge royalties or fees to
    use the patented products.
    TRIMs
    (Trade Related Investment Measures)
     It treats foreign investment at par with domestic investment.
     IMPACTS
     Due to TRIMs Agreement developing countries including India have
    withdrawn a number of restrictions on foreign investment.
     But this is also in favour of developed nations due to large financial and
    technological resources at their disposal.
     There is growth in merchandise exports
     Many countries have been benefited by way of FDI as well as by Portfolio
    investments.
    GATS
    (General Agreement on Trade in Services)

     Through this member nations are liberlised (open up) to the service sector.
     Introduced during Uruguay Round.
     Positive impact
     All the countries opened up the service sector in respect of banking,
    insurance, communications, transport, telecom etc to foreign firms.
     Growth in service sector
     Negative impact
     The domestic firms of developing nations find it difficult to compete with
    giant foreign firms due to lack of resources and professional skills.
    AOA
    (Agreement On Agriculture)
     It promotes the trade in agriculture by reducing tariff barriers, export
    subsidies etc.
     Many countries were benefited.

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