WorldTrade

Organization

Ally CardosoKevin Fitzpatrick

WTO

The World Trade Organization (WTO) is the only global

international organization dealing with the rules of trade between nations. It is an organization for trade opening, its heart are the

WTO agreements, negotiated and signed by the bulk of the world’s

trading nations and ratified in their parliaments. It is a place for them to settle trade disputes and operates a system of trade rules. The goal is to help producers of goods and services, exporters,

and importers conduct their business.

Initial Purpose

Participants

159 Countries on March 2nd 2013

In the case of the World Trade Organization, members do not have to be independent countries. The

European Union, Hong Kong, Taiwan, and Macau, which are not independent but control their own

economies, are members. When countries apply to be members, their political, economic, and trade

circumstances are studied. China became a WTO member in 2001 after fifteen years of negotiations. Canada and the United States have been members

for over approximately eighteen years. Russia, which has the largest economy of non-members, is currently seeking membership. Approximately fifteen countries, including North Korea, Turkey, and Somalia, have no

relation with the WTO.

Reason for Establishment

After WWII, the US & other nations established the General Agreement on Tariffs & Trade (GATT) in 1947. The GATT was designed to:

Gradually eliminate barriers to trade

Provide a set of rules & a means for their enforcement

The clarification, strengthening and extension of GATT resulted in the creation of the World Trade Organization. On January 1st , 1995 the organization was established and held out the promise of a more effective policy and to enforce the global trading system. The WTO is a replacement for the much older General Agreement on Tariffs and Trade (GATT). The difference is that GATT was just a treaty.

Currently there are four main objectives of the WTO:

The high level of protectionism in agriculture.

The continued high tariff rates on non-agricultural goods & services in many nations

The lack of strong protection for intellectual property rights in many nations

The increase in anti-dumping policies

http://www.youtube.com/watch?v=g6dV4n8GdoY

heart of the WTO issues/problems with WTO

Geneva, Switzerland director of the WTO

WTO Video

Agreements and Roles Today

Through these agreements, WTO members operate a non-discriminatory trading system that spells out their rights and their obligations. Each country receives guarantees that its exports will be treated fairly and consistently in other countries’ markets. Each promises to do the same for imports into its own market. The system also gives

developing countries some flexibility in implementing their commitments.

The complete set runs approximately 30,000 pages consisting of about 30 agreements and separate

commitments (called schedules) made by individual members in specific areas such as lower customs duty

rates and services market-openings.

negotiating the reduction or elimination of obstacles to trade (import tariffs, other barriers to trade) and agreeing on rules governing the conduct of international trade (e.g. antidumping, subsidies, product standards, etc.)

monitoring and reviewing the trade policies of our members, as well as ensuring transparency of regional and bilateral trade agreements

settling disputes among our members regarding the interpretation and application of the agreements

building capacity of developing country government officials in international trade matters

explaining to and educating the public about the WTO, its mission and its activities

Detailed Objectives

Canada

Canada has been a member of the WTO since January 1, 1995.International trade is an integral part of the Canadian

economy. Canada’s economic well-being depends on access to global markets for manufactured and agricultural goods,

natural resources, and the products and services of a knowledge-based economy. Our participation in the WTO

helps us to achieve these goals and reflects the objectives identified in Canada’s Global Commerce Strategy, including

the expansion of access to global markets and networks.

To ensure that Canada’s interests are represented effectively at the WTO, Canada maintains a Permanent Mission to the

WTO in Geneva, Switzerland.

Canada’s trade policies and practices are reviewed every four years, The ninth review of Canada’s trade policies and

practices took place on June 20th and 22nd, 2011.

Thank - You

Thank-You for further information please visit the following:

http://www.wto.org/english/thewto_e/thewto_e.htm

http://www.wto.org/english/thewto_e/whatis_e/what_we_do_e.htm