HISTORY OF WTO

HARRY WHITE AND JOHN MAYNARD KEYNES A LIBERAL INTERNATIONAL TRADE ENVIRONMENT THE IMF (FISCAL AND MONETARY ISSUES) THE WORLD BANK (FINANCIAL AND STRUCTURAL ISSUES) THE ITO (INTERNATIONAL ECONOMIC COOPERATION).

HISTORY OF WTO
30 Oct 1947, The General Agreement on Tariffs and Trade (GATT) was signed by 23 nations. 1 Jan 1948, The General Agreement on Tariffs and Trade came into force. 1 Jan 1995, The World Trade Organization came into force. 31 May 1999, The WTO General Council approved the Headquarter.

Headquarters

Centre William Rappard, Geneva, Switzerland

INTRODUCTION TO
WTO intends to supervise and liberalize the international trade. The organization deals with regulation of trade between participating countries. It provides a framework for negotiating and formalizing trade agreements. Enforcing participants to WTO agreements, which are signed by representatives of member governments and ratified by their parliaments.

To ensure the conduct the international trade on nondiscrimination basis. To raise standard of living and income, ensuring full employment. Protecting environment. Ensuring better share for developing countries.

To promote World Trade in a manner that benefits every country.

To demolish all hurdles to an open world trading system.

To enhance competitiveness among all trading partners so as to benefit consumers and help in global integration.

To increase the level of production and productivity with a view to ensuring level of employment in the world.

To expand and utilize world resources to the best.

To improve the level of living for the global population and speed up economic development of the member nations.

Administering World Trade Organization (WTO) trade agreement. Handling trade disputes. Monitoring national trade policy. Technical assistance and training for developing countries. Co-operation with other international organization (like help from World Bank and IMF).

Non-Discrimination. Reciprocity. Binding and enforceable commitments. Transparency. Safety valves.

First, Tell us about yourself.

Second, Work out with us individually what you have to offer.

Third, Lets draft membership terms.

Finally, The decision.

Helps promote peace within nations: Peace is partly an outcome of two of the most fundamental principle of the trading system; helping trading flow smoothly and providing countries with a constructive and fair outlet for dealing with disputes over trade issues. Peace creates international confidence and co-operation that the WTO creates and reinforces. Disputes are handled constructively: WTO helps to resolve these conflicts peacefully and constructively. Rules makes life easier for all: WTO is based on rules rather than power and this makes life easier for all trading nations. Free trade cuts the cost of living: WTO lowers trade barriers through negotiation and applies the principle of non-discrimination. The result is reduced cost of production and reduced prices of finished goods and services ultimately lowering the cost of living.

Provides more choice of products and qualities: It gives consumers more choice and broader range of qualitative products and services to choose from.

Trade raises income: Through WTO trade barriers are lowered and this increases imports and exports thus raising foreign exchange for country and thus raising the countries income.

Stimulates economic growth: with upward trend of economic growth jobs can be created and this can be enhanced by WTO through careful policy making and powers of free trade.

Fundamentally undemocratic: democratic, transparent situation.

The

WTO

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The information system is kept in a secret way and its not accessible and available for the newer entries in WTO. Makes trade unsafe by the dominating countries.

WTO is believed to be funding terrorism.

Tariff Lines:

Quantitative Restrictions (QRs):

TRIPs:

TRIMs:

GATS:

Customs Valuation Rules