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    Presentation On: in Brief

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    Komal Singh
    The document provides information about the World Trade Organization (WTO) in 3 sentences: The WTO is an intergovernmental organization that regulates international trade and seeks to ensure a smooth and predictable global trade system. It has 164 member countries, establishes trade rules through agreements, and acts as a forum for trade negotiations. The WTO replaced the General Agreement on Tariffs and Trade (GATT) in 1995 and is headquartered in Geneva, Switzerland.

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    Presentation On: in Brief

    Uploaded by

    Komal Singh
    114 views30 pages
    The document provides information about the World Trade Organization (WTO) in 3 sentences: The WTO is an intergovernmental organization that regulates international trade and seeks to ensure a smooth and predictable global trade system. It has 164 member countries, establishes trade rules through agreements, and acts as a forum for trade negotiations. The WTO replaced the General Agreement on Tariffs and Trade (GATT) in 1995 and is headquartered in Geneva, Switzerland.

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    The document provides information about the World Trade Organization (WTO) in 3 sentences: The WTO is an intergovernmental organization that regulates international trade and seeks to ensure a smooth and predictable global trade system. It has 164 member countries, establishes trade rules through agreements, and acts as a forum for trade negotiations. The WTO replaced the General Agreement on Tariffs and Trade (GATT) in 1995 and is headquartered in Geneva, Switzerland.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    114 views30 pages

    Presentation On: in Brief

    Uploaded by

    Komal Singh
    The document provides information about the World Trade Organization (WTO) in 3 sentences: The WTO is an intergovernmental organization that regulates international trade and seeks to ensure a smooth and predictable global trade system. It has 164 member countries, establishes trade rules through agreements, and acts as a forum for trade negotiations. The WTO replaced the General Agreement on Tariffs and Trade (GATT) in 1995 and is headquartered in Geneva, Switzerland.

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    Lecture Notes on

    International Trade

    WTO

    Economic
    Institutions

    Presentation
    on

    WTO

    (World Trade Organization)

    In Brief
    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade
    Formation
    Headquarters
    Membership
    Officiallanguages
    Director-General
    Budget
    Staf
    Website

    7/23/16

    Economic
    Institutions
    1 January 1995
    Centre William Rappard,
    Geneva, Switzerland
    159 member states
    English, French, Spanish
    Pascal Lamy
    196 millionSwiss
    francs(approx. 209 million
    US$) in 2011.
    640
    wto.org

    WTO

    WTO
    at
    a glance
    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    the World Trade Organization (WTO) is the


    only international organization dealing with
    the global rules of trade between nations.
    Its main function is to ensure that trade
    flows as smoothly, predictably and freely as
    possible.

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Evolution of the WTO


    WTO was established on 1st January 1995. In April 1994, the Final Act was signed at a
    meeting in Marrakesh, Morocco. The Marrakesh Declaration of 15th April 1994 was formed to
    strengthen the world economy that would lead to better investment, trade, income growth and
    employment throughout the world. The WTO is the successor to the General Agreement of
    Tariffs and Trade (GATT). India is one of the founder members of WTO. WTO represents the
    latest attempts to create an organisational focal point for liberal trade management and to
    consolidate a global organisational structure to govern world affairs. WTO has attempted to
    create various organisational attentions for regulation of international trade. WTO created a
    qualitative change in international trade. It is the only international body that deals with the
    rules of trades between nations.
    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    The Uruguay Round (1986-1994)


    The results of the Uruguay Round (UR) were signed in Marrakech, Morocco on 15 April
    1994 .The WTO came into being on 1 January 1995 by virtue of the Agreement establishing the
    WTO.
    The scope of the multilateral trading system was broadened from trade in goods (GATT) to
    encompass trade in services (GATS) and trade related aspects of intellectual property rights
    (TRIPS). It was a rule-based global trading system complete with its own dispute resolution
    procedures .
    The Single Undertaking concept
    The multilateral trade agreements under the WTO system are treated as a single undertaking
    which means that every member state of the WTO is a party to every one of these agreements
    and must implement them accordingly.
    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Functions of WTO
    The former GATT was not really an organisation; it was merely a legal arrangement. On the
    other hand, the WTO is a new international organisation set up as a permanent body. It is
    designed to play the role of a watchdog in the spheres of trade in goods, trade in services,
    foreign investment, intellectual property rights, etc. Article III has set out the following five
    functions of WTO;
    (i) The WTO shall facilitate the implementation, administration and operation and further the
    objectives of this Agreement and of the Multilateral Trade Agreements, and shall also provide
    the frame work for the implementation, administration and operation of the plurilateral Trade
    Agreements.
    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Functions of WTO

    (ii) The WTO shall provide the forum for negotiations among its members concerning their
    multilateral trade relations in matters dealt with under the Agreement in the Annexes to this
    Agreement.
    (iii) The WTO shall administer the Understanding on Rules and Procedures Governing the
    Settlement of Disputes.
    (iv) The WTO shall administer Trade Policy Review Mechanism.
    (v) With a view to achieving greater coherence in global economic policy making, the WTO
    shall cooperate, as appropriate, with the international Monetary Fund (IMF) and with the
    International Bank for Reconstruction and Development (IBRD) and its affiliated agencies

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    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;
    (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;
    By Komal Singh
    7/23/16

    Chauhan

    Assist. Prof. VCMT Bijnor UP

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Objectives of WTO
    (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.

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Structure of
    WTO
    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    The Ministerial Conference (MC) is at the top of the structured organization of the WTO. It
    is the supreme governing body which takes ultimate decisions on all matters. It is constituted
    by representative (usually, Ministers of Trade) all the member countries.
    The General Council (GC) is composed of the representatives of all the members. It is the
    real engine of WTO which acts on behalf of the MC. It also acts as the Dispute Settlement
    Body as well as the Trade Policy Review Body.
    There are three councils viz : the Council for Trade Related Aspects of Intellectual
    Property Rights (TRIPS) operating under the GC. These councils with their subsidiary bodies
    carry out their specific responsibilities.

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    Further there are three committee, viz, the committee on Balance of Payments
    Restrictions (CBOPR) and the committee o Budget, Finance and Administration (CFBA)
    which execute the functions assigned to them by the WTO Agreement and the GC.
    The Administration of the WTO is conducted by the Secretariat which is headed by the
    Director General (DG) appointed by the MC for the tenure of four years. He is assisted by
    the four Deputy Directors from different member countries. The annual budget estimates
    and financial statement of the WTO are presented by the DG to the CBFA for reivew and
    recommendations for the final approval by the GC.

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    WTO: Benefits for business


    Creation of a stable, rule based, multilateral trading regime
    Market access translates into market opportunities
    The rule based system creates certain rights of access
    - Security of access
    tariff bindings and disciplines on barriers to trade whether tariff or non tariff. It also provides non
    discriminatory treatment of products and services.

    - Stability of access
    etc.

    the application of uniform rules in key areas of the trading process e.g. customs valuation, import licenses

    - Rights against unfair trade practices for


    Domestic industry
    Export industry
    7/23/16
    Import
    industry

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    Economic
    Institutions

    WTO

    WTO
    Members
    hip
    Members
    Observer

    Newest Members
    Tajikistan 2 March 2013

    7/23/16

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

    Lecture Notes on
    International Trade

    7/23/16

    Economic
    Institutions

    WTO

    By Komal Singh
    Assist. Prof.
    VCMT Bijnor UP
    Chauhan

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