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Presented by: P. Karthik
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Locatio
n: Geneva, SwitzerlandEstablished: 1 January 1995
Created by: Uruguay Round negotiations
(198694)
Membership: 153co
untries (since 23 July
2008)
Budget: 194 million Swiss francs for 2010
Secretariat staff: 637
Head: Pascal Lamy (Director-General)
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Introduction to WTO
WTO was formed on 1st jan,1995.
It tookover GATT (General agreement ontariffs & trade). In 8th round of GATT,popularly known as Uruguay Round,
member nations
of GATT de
cided t
oset up anew organization, World Trade
Organization in place of GATT.
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1. What is the World Trade
Organization?Simply put: The World Trade Organization
(WTO) deals with the rules of trade between
nations at a global or near-global level. But
there is more to it than that.
There are a numberof ways of looking at the
WTO. Its an organization for liberalizing trade.Its a forum for governments to negotiate trade
agreements. Its a place for them to settle trade
disputes.Itoperates a system
of trade rules.
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OBJECTIVES OF WTOThe primary aim of WTO is to implement the newworld trade agreement.
To promote multilateral trade .
To promote free trade by abolishing tariff & non-tariff barriers.
To enhance competitiveness among all tradingpartners so as to benefit consumers.
To increase the level of production & productivitywith a view to increase the level of employment inthe world.
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To expand & utilise world resources in the mostoptimum manner.
To improve the level of living for the globalpopulation & speed up economic development of themember nations.
To take special steps for the development of poorestnations.
WTO is an internatio
nal tradeo
rganisation havingset of rules & principles, mutually designed & agreed
upon to promote international trade in general &reduction of tariffs barriers & removal of importrestrictions in particular.
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Functions of WTO
Implementing WTO agreements & administering theinternational trade.
Coo
perating withIMF
& Wo
rld Bank & its assoc
iatesfor establishing coordination in Global Trade Policy-Making.
Settling trade related disputes among member nations
with the help of its Dispute Settlement
Reviewing trade related economic policies of membercountries with help of its Trade Policy Review Body(TPRB).
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Providing technicalassistance & guidancerelated to management offoreign trade & fiscalpolicy to its member
nations.
Acting as forum for tradeliberalization.
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Argument inF
avo
urof WTO
Increase in foreign trade.
Increase in agricultural exports.
Increase in inflow of foreign investment.
Improvement in services.
Benefits forclothing & textile industry.
Inflow of better technology & better qualityproducts.
Benefits of multilateral trade system.
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Benefits of multilateral tradesystem.
Benefits of using quality
seeds & new varietieso
f plants.Restricts dumping.
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Ho
w lo
ng to
settle a dispute?These approximate periods for each stage
of a dispute settlement procedure are
target figures the agreement is flexible.In addition, the countries can settle their
dispute themselves at any stage. Totals are
also approximate.
60 days - Consultations, mediation, etc
45 days - Panel set up and panel lists
appointed
6 months - Final panel report to parties
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3 weeks Final panel report to WTO members
60 days Dispute Settlement Body adopts report(if no
appeal)
Total = 1 year (without appeal)
6090 days Appeals report
30 days Dispute Settlement Body adopts appeals
report
Total = 1y 3m (with appeal)
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