Presentation on { World Trade Organization (WTO)

Submitted by: Akshay Bhati

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations WTO agreements are negotiated and signed by the trading nations and ratified in their parliaments

The goal is to help producers of goods and services, exporters, and importers conduct and grow their business

About WTO

WTO is responsible for administering dozens of international trade agreements and declarations: Solves trade disputes Monitors national trade policies Operates as the forum for global trade negotiations called rounds A place where member governments try to sort out the trade problems they face with each other

Responsible for

The WTO came into being in 1995

The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), established in the wake of the Second World War

Past, Present, Future

Began in 1986 in Uruguay, so it is sometimes called the Uruguay round

Concluded with an agreement 8 years later in 1994. Agreement signed in Marrakech, Morocco Agriculture was included for the first time in an international trade agreement

WTO created in 1995 as one result of the negotiations

GATT: Predecessor of WTO

GATT

WTO International Organization (Members) Broad Coverage (Goods, Services, TRIPs) Dispute Settlement strengthened

Provisional Agreement (Contracting Parties) Restricted Coverage (Goods) Dispute Settlement

GATT-WTO: Comparison

Ministerial Conference General Council

Dispute Settlement Body Trade Policy Review Body

Councils

Council for Trade in Goods Council for Trade in Services Council for TRIPs

Committees and other subsidiary bodies Decision-making

WTO: Structure

Non-Discrimination Principle

MFN treatment National Treatment

Security and predictability of market access Increasing the participation of developing countries in the multilateral trading system Fair trade possibility to respond to unfair trading practices such as dumping and subsidization Transparency

Basic Principles of WTO

Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations

Major WTO Functions

THANK YOU