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World Trade Organisation

( WTO)
S M Shafi
Department of Business & Financial Studies
University of Kashmir
WTO: History
• Brettonwoods Talks in New Hampshire
started in 1944 soon after the world war 2nd.
• Three International Institutions were
proposed to be incorporated
1. International Bank for Reconstruction and
Development( IBRD)
2. International Monetary Fund(IMF) Cont.
WTO: History
• International Trade Organisation

• First two organisations came up but the


member countries whose number was 23 did
not agree on the creation of ITO but instead
agreed to the creation of an organisation
which is not legally binding but shall look into
trade and tariff negotiations
Conti….
WTO: History
• The Organisation was known as GATT

• GATT had a life span of 46 years----From 1948


to 31st December 1994.

• From January 1995, WTO came into existence


GATT-Journey
• GATT started its journey from Havana( Cuba)
in 1948, followed by Annecy ( France),
Torquay (UK), Tokyo( Japan), Punta del Este(
Uruguay), Montreal( Canada), Belgium(
Brussels) and finally to Marrakkash
(Morocco) in 1994

• 46 Years of Journey from 1948 to 1994


WTO: History
• Along with negotiations on the reduction of
tariffs on import and export of goods, as
originally brought under its reference, the
GATT agreement brought under its fold two
more agreements viz.,
• Trade Related Intellectual Property
Rights (TRIPS)
• Trade Related Investment Measures
(TRIMS)
WTO: History
• From January 2000, another important area
of trade was included in the negotiations-------
-----GATS

• GATS-General Agreement on Trade in


Services
Principles: Foundations of WTO
• Most-Favoured-Nation (Non-discrimination)

• National Treatment (Treating foreigners & locals


equally)

• Freer Trade( Trough reduction of Tariff & Non-tariff


barriers)

• Predictability ( through binding and transparency)


Ministerial Conferences
• > Bali, 3-6 December 2013
> Geneva, 15-17 December 2011
> Geneva, 30 November - 2 December 2009
> Hong Kong, 13-18 December 2005
> Cancún, 10-14 September 2003
> Doha, 9-13 November 2001
> Seattle, November 30– December 3, 1999
> Geneva, 18-20 May 1998
> Singapore, 9-13 December 1996
Objectives of WTO
• The Primary aim of WTO is to implement the new World Trade
Agreement.
• To Promote multilateral trade.
• To Promote Free trade by abolishing tariff and non-tariff barriers.
• To enhance competitiveness among all trading partners so as to
benefit consumers.
• To increase the level of production and productivity with a view to
increase the level of employment in the world.
• To expand and utilize world resources in the most optimum manner.
Functions of WTO

• Implementing WTO agreements & administering the


International Trade.
• Co-operating with IMF & World Bank and its associates
for establishing coordination in Global Trade Policy-making.
• Settling trade related disputes among member nations with
the help of its Dispute Settlement Body
• Reviewing Trade Related economic policies of member countries
with help of its Trade Policy Review Body.
• Providing Technical assistance & guidance related to
management of foreign trade & fiscal policy to its member
nations.
• Acting as a forum of trade liberalisation.
Scope of WTO
• Trade in Goods
• Trade Related Intellectual Property Rights
(TRIPS)
• Trade Related Investment Measures ( TRIMS)
• General Agreement on Trade in Services (
GATS)
This is a list of former holders of the office of director-general. The post was created in 1995,
although the earlier office of Executive Secretary is often seen as a direct equivalent.

Name Took office Left office Country


1 Peter Sutherland 1 July 1993 1 May 1995 Ireland
2 Renato Ruggiero 1 May 1995 1 September 1999 Italy
3 Mike Moore 1 September 1999 1 September 2002 New Zealand
4 Supachai Panitchpakdi 1 September 2002 1 September 2005 Thailand
5 Pascal Lamy 1 September 2005 1 September 2013 France
6 Roberto Azevedo 1 September 2013 ---- Brazil
For goods (under WTO)
1. • Agriculture
2. • Health regulations for farm products (SPS)
3. • Textiles and clothing
4. • Product standards (TBT)
5. • Investment measures
6. • Anti-dumping measures
7. • Customs valuation methods
8. • Pre-shipment inspection
Anti-dumping measures
1. • Customs valuation methods
2. • Pre-shipment inspection
3. . Rules of origin
4. • Import licensing
5. • Subsidies and counter-measures
6. • Safeguards
For services (the GATS )
1. • Movement of natural persons
2. • Air transport
3. • Financial services
4. • Shipping
5. • Telecommunications
• The agreement covers all
internationally-traded services — for
example, banking, telecommunications,
tourism, professional services, etc. It
also
• defines four ways (or “modes”) of
trading services:
services supplied from one country to another
(e.g. international telephone calls), officially
known as “cross-border supply” (in WTO
jargon, “mode 1”)
consumers or firms making use of a service in
another country (e.g. tourism),
• officially “consumption abroad” (“mode
2”)
• a foreign company setting up subsidiaries or
branches to provide services in country (e.g.
foreign banks setting up operations in a
country), officially“ commercial
presence” (“mode 3”)
individuals traveling from their own
country to supply services in another
(e.g. fashion models or consultants),
officially “presence of natural persons”
(Mode 4)
Thank You

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