WTO WTO ((World Trade OrganizationWorld Trade Organization))

Road Map of Entire PresentationRoad Map of Entire Presentation

What is What is World Trade OrganizationWorld Trade Organization??

HistoryHistory of WTO of WTO

Why Why WTO is WTO is Important for the Global TradeImportant for the Global Trade??

ConclusionConclusion

What is the What is the WWorld orld TTrade rade OOrganizationrganization??

““The The World Trade OrganisationWorld Trade Organisation is is ‘‘member-drivenmember-driven’, with decisions taken by ’, with decisions taken by General agreementGeneral agreement among all among all member of member of governmentsgovernments and it deals with the and it deals with the rules of rules of trade between nations at a global or near-trade between nations at a global or near-global level.global level. But there is more to it than But there is more to it than that.that.””

They deal with: They deal with: agricultureagriculture, , textilestextiles and and clothingclothing, , bankingbanking, , telecommunicationstelecommunications, , government purchasesgovernment purchases, , industrial standardsindustrial standards and and product safetyproduct safety, , food sanitation regulationsfood sanitation regulations, , intellectual propertyintellectual property, and much more. , and much more.

The WTO agreements are The WTO agreements are lengthylengthy and and complex complex because they are because they are legal texts coveringlegal texts covering a a wide range of activitieswide range of activities..

WTO: The Beginnings/ HistoryWTO: The Beginnings/ History

WTO began its life on WTO began its life on 1 January 19951 January 1995 Before Before WTOWTO its name was its name was GATT (General GATT (General

Agreement on Tariffs and Trade)Agreement on Tariffs and Trade) with a view with a view to to flows of tradeflows of trade are are going smoothgoing smooth, , predictablepredictable and and free from hasslesfree from hassles. .

The purpose of the WTO is to The purpose of the WTO is to let the let the consumersconsumers and and producersproducers enjoy enjoy secure secure suppliessupplies and and greater choicegreater choice for the for the finished finished productsproducts

The WTO is certainly one of the most The WTO is certainly one of the most important institutions important institutions dealing with dealing with international economic relations.international economic relations.

In broad terms, its role is twofold, In broad terms, its role is twofold, firstfirst with with establishmentestablishment of of international tradeinternational trade in both in both goodsgoods and and servicesservices..

And And secondsecond, to , to progressively liberalizeprogressively liberalize that that tradetrade, , presently valuedpresently valued at close to at close to eight eight thousand billion dollarsthousand billion dollars every year. every year.

LocationLocation:: Geneva, SwitzerlandGeneva, Switzerland

Created byCreated by:: Uruguay Round negotiations Uruguay Round negotiations (1986-94)   (1986-94)  

MembershipMembership:: 151 countries on 27 July 2007151 countries on 27 July 2007

BudgetBudget:: 182 million Swiss francs 182 million Swiss francs for 2007for 2007

SecretariatSecretariat staffstaff: :

625625

HeadHead: : Pascal Lamy (Director-Pascal Lamy (Director-General)General)

Why WTOWhy WTO??

To arrange the To arrange the implementationimplementation, , administrationadministration and and operations of multilateraloperations of multilateral (involving three (involving three or more participants) and or more participants) and plurilateral trade plurilateral trade agreementsagreements (power which shared between (power which shared between different countries)different countries)

To arrange the To arrange the forum for deliberationsforum for deliberations for the for the member nationsmember nations in regard to their multilateral in regard to their multilateral trade relations in trade relations in issues dealissues deal with under the with under the agreementsagreements

To provide a To provide a framework for implementingframework for implementing of of the the results arisingresults arising out of the deliberations ( out of the deliberations (long long and care full agreements/considerationand care full agreements/consideration) which ) which taken place at taken place at ministerial conference levelministerial conference level

To manage the To manage the created understandingcreated understanding on on rulesrules and and procedureprocedure governing the governing the settlement of settlement of disputesdisputes

To manage To manage effectivelyeffectively and and efficiencyefficiency the the trade trade policy review mechanism (TRIM)policy review mechanism (TRIM)

To create more To create more together relationshiptogether relationship with all with all nationsnations in respect of in respect of global economic policy-global economic policy-makingmaking, it would , it would cooperate with the IMFcooperate with the IMF and and the the world bankworld bank & its & its affiliated Organisationsaffiliated Organisations

ConclusionConclusion

The system helps The system helps promote peacepromote peace DisputesDisputes are are handled constructivelyhandled constructively Free tradeFree trade cuts the cuts the costs of livingcosts of living It provides more It provides more choicechoice of of productsproducts and and

qualitiesqualities Trade Trade raises incomesraises incomes Trade Trade stimulatesstimulates economic growtheconomic growth The system The system encouragesencourages good good government government

Conclusion Continue..Conclusion Continue..WTO PUBLIC FORUM 2006 WTO PUBLIC FORUM 2006

Source: www.wto.org