THE WTO IN BRIEFBy--- Antonio S

THE WTO IN BRIEFWhat is the WTO? Simply put--It is the only global international organizationHistory Born in 1995, but not so young StructureTHE TOP5 BENEFITS of WTO From the money in our pockets and the goods and services that we use, to a more peaceful world the WTO and the trading system offer a range of benefits, some well-known, others not so obvious.

What is the WTO? W T

O orldraderganization

What is the WTO? Simply put--It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business.

--Is it a bird, is it a cat? There are a number of 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. It operates a system of trade rules. Its a negotiating forum ... OR IS IT A TABLE?

One of them finally interjected: Wait a minute. The WTO is a table. People sit round the table and negotiate. What do you expect the table to do? Its a set of rules

What is the WTO? Born in 1995, but not so young The WTOs agreements have been ratified in all members parliaments.

Year

Place/name

Subjects covered

Countries

1947

Geneva

Tariffs

23

1949

Annecy

Tariffs

13

1951

Torquay

Tariffs

38

1956

Geneva

Tariffs

26

1960-1961

Geneva

Dillon Round

Tariffs

26

1964-1967

Geneva

Kennedy Round

Tariffs and anti-dumping measures

62

1973-1979

Geneva

Tokyo Round

Tariffs, non-tariff measures, framework

agreements

102

1986-1994

Geneva

Uruguay Round

Tariffs, non-tariff measures, rules, services, intellectual property, dispute settlement, textiles, agriculture, creation of WTO, etc

123

What is the WTO? Structure Ministerial Conference General Council Goods Council Services Council Intellectual Property (TRIPS) Council specialized committees, working groups and working parties Secretariat1To supply technical support for2To provide help for developing countries;3To analyze world trade4To explain WTO to

THE TOP5 BENEFITS1 2 3 4 5 Choice It gives consumers more choice, and a broader range of qualities to choose from Life with ...... and without imports

THE TOP5 BENEFITS1 2 3 4 Cost of living5 Choice Freer trade cuts the cost of living We are all consumers. The prices we pay for our food and clothing, our necessities and luxuries, and everything else in between, are affected by trade policies.

Food is cheaperClothes are cheaperThe same goes for other goods

THE TOP5 BENEFITS1 2 3 Growth and jobs 4 Cost of living5 Choice Trade stimulates economic growth, and that can be good news for employment Nevertheless, the alternative protectionism is not the way to tackle employment problems1, there are other factors at play.

2, while trade clearly boosts national income (and prosperity), this is not always translated into new employment for workers who lost their jobs as a result of competition from imports.

THE TOP5 BENEFITS1 2 Rules3 Growth and jobs 4 Cost of living5 Choice A system based on rules rather than power makes life easier for allSmaller countries enjoy more bargaining power, and life is simpler for bigger countries

THE TOP5 BENEFITS1 Peace 2 Rules3 Growth and jobs 4 Cost of living5 Choice The system helps to keep the peace How does this work?Sales people are usually reluctant to fight their customers

But that is not all. The GATT/WTO system is an important confidence-builder.

THE WTO IN BRIEFWhat is the WTO? Simply put--It is the only global international organizationHistory Born in 1995, but not so young StructureTHE TOP5 BENEFITS of WTO From the money in our pockets and the goods and services that we use, to a more peaceful world the WTO and the trading system offer a range of benefits, some well-known, others not so obvious.

THE WTO IN BRIEFIt took seven and a half years, By the end, 123 countries were taking part. It covered almost all trade, from toothbrushes to pleasure boats, from banking to telecommunications, from the genes of wild rice to AIDS treatments. It was quite simply the largest trade negotiation ever, and most probably the largest negotiation of any kind in history.

Let us drink to WTO

Thank you!By --Antonio Si

Thanks to http://www.wto.org/english

Chanel

THE WTO IN BRIEFBy--- Antonio S