presentation on wto group 4

7/28/2019 Presentation on WTO GROUP 4

1/24

World Trade

Organization(WTO)

Presented by :- Group No. 4Abhishek Choudhary Anand Kumawat

Sanjay Singh Rajpurohit Nikhil K Mehta

Mitesh Sharma Rahul Srivastava

Omprakash Suthar

Presentation on


2/24


3/24


4/24


5/24

Introduction

The WTO is a rules-based, member-driven

organization all decisions are made by the

member governments, and the rules are the

outcome of negotiations among members

It came into existence on 1 January 1995

It is the successor of GATT (General

Agreements on Tariffs and Trade) which was

started in 1947


6/24

Cont

The last and largest GATT round, was theUruguay Round which lasted from 1986 to1994 and led to the WTOs creation

Whereas GATT had mainly dealt with trade ingoods, the WTO and its agreements now covertrade in services, and in traded inventions,creations and designs (intellectual property)

The meeting of WTO held once in every twoyear and secretariat is based in Geneva


7/24

World Trade Organization

Location: Geneva, Switzerland

Created by: Uruguay Round negotiations

(1986-94)

Membership: 153 countries on 23 July 2008

Budget: 189 million Swiss francs for 2009

Secretariat staff: 625 Head: Pascal Lamy (Director-General)


8/24

Difference between GATTand WTO

The GATT has no basic constitution whereasWTO has permanent institution with its ownFull-fledged secretariat located in Geneva

GATT was applied on a provisional basisand the WTO commitment was full, enduringand permanent

GATT rules applied to trade in merchandisegoods, wherever the WTO rules were appliedon trade in services, goods and on TRIPs


9/24

Cont

The WTO dispute settlement system is

more convenient, faster, more automatic

whereas GATT system was moresusceptible in blockages

WTO has a global status similar to IMF,

IBRD wherever GATT was establishedon provisional basis


10/24

WTO Objectives

To raise the standard of living and toensure full employment

To develop an integrated, viable and

durable multi-lateral trading system To promote sustainable development in

member countries by the optimal use ofresources

To help the developing countries to get ashare in the growth of International Trade


11/24

Cont

To reduce tariffs and other tradebarriers among member countries andto eliminate discriminatory treatment

in International Trade relation

To ensure linkages between tradepolicies, environmental policies and

sustainable development


12/24

Structure of WTO

Ministerial Conference (MC)

Committee on BOPRestrictions

Committee on Tradeand Development

Committee on Budget,finance and

Administration

General Council (GC)

Dispute SettlementBody

Trade Policy ReviewMechanism (TPRM)

Council for trade ingoods

Council for trade inservices Council for TRIPS


13/24

Features

WTO has a legal personality which isbased on Multi-Lateral Trade

Its ultimate aim of WTO is to establish a

rule basis of Global Free

Trade It is wider than GATT because it is not

only covers trade related to goods but alsoincludes services and property rights

All member-countries are committed tothe agreements which it passes


14/24

Cont

It is a full Fledged InternationalOrganization

The decision making under WTO iscarried out by consensus

It is an open ended institution and itcan take on board any subject areawhich the member government thinkshould be brought under multilateraldiscipline


15/24


16/24

Cont

To facilitate the management of theMultilateral Trade Agreement (MTAs) and thePlurilateral Trade Agreement (PTAs) for thefulfillment of their obligation

The above agreements are negotiated by themembers of the forum

To administer the understanding of rules and

procedures governing in settlement ofdisputes

To administer TPRM


17/24

Major Trade Agreements (MTAs)(Under WTO)

Agreement on Agriculture

General Agreement on Trade inServices

Agreement on Trade RelatedIntellectual Properties (TRIPs)

Agreement on Textiles and Clothing(Multi-Fibre Agreement)

Agreement on Manufactured goods


18/24

Achievements

Promptness of setting disputesamong the member nations

It plays a significant role inglobalization and market orientationof the economies

It has taken several steps on accessto a very strong financial system andaccess to investment


19/24

Cont

By following the rules of WTO, BOP (Balance ofPayment) situations of many member nationshas improved

WTO has increased demand for technicalassistance

TPRM of WTO has been enforcing disciplineamongst the member countries

It has contributed towards information andtechnology agreements, transparency ingovernment procurement and trade facilitation


20/24

WTO and India

In 1994, India has joined WTO as aFounder Member, and number of issueshave risen having their impact on its

interest. There are four major provisions relating to

agriculture and that are:

Reduction in domestic support

Market access

Trade Related Intellectual Property Rights(TRIPs)

Disbanding Public Distribution System


21/24

Cont

The issues were as follows:

In the area of agriculture the Tariff rate quotashould be make more transparent, equitable andnon-discriminatory

In the area of senetary products, measuresshould be taken for International setting

To protect small scale industries and otherdomestic industries

A Multi-National Corporation should beencouraged in rural market


22/24

Challenges and Limitations

WTO is facing problem in making the newmultilateral system truly global in scope andapplication

The trade reforms are still incomplete inmany countries

Some developing countries appear to begoing in reverse direction

It is also facing an important issue likebalancing of trade and environmentalconcerns


23/24

Cont

The WTO has opened up the world economymore rapidly in areas that benefited thedeveloped world

Without consensus, there is no possibility thatit could be brought into the agenda of the WTO

The interest of International trade, which are

primarily the interest of multi-nationalcorporations, takes precedence over localconcerns


24/24

presentation on wto group 4

Documents