abhinandan final ppt

7/28/2019 Abhinandan Final Ppt

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By

Ankita TrivediAbhinandan Kumar

Nitish Kumar
http://www.wto.org/index.htmhttp://www.wto.org/index.htm


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WTO

There are a number of ways of looking at theWTO.

Its an organization for liberalizing trade.

Its a forum for governments to negotiate tradeagreements.

Its a place for them to settle trade disputes. Itoperates a system of trade rules.


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GATT

The GATT , the predecessor of WTO, was born in 1948.

-The GATT was a loose system of International agreement.

-It did not crystallize as an institutional framework.

-The primary objective of GATT was to expand internationaltrade by liberalizing trade so as to bring about all roundeconomic prosperity.


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The important objectives of GATT

- Raising standard of living.

-Ensuring full employment and a large steadily growingvolume of real income and effective demand.

-Developing full use of resources of the world.

-Expansion of production and international trade.


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GATT held a total of 8 rounds.

Name Start Duration Countries Subjectscovered

Achievements

GenevaApril 1947 7 months 23 Tariffs Signing of

GATT, 45,000tariffconcessionsaffecting $10

billion of trade

AnnecyApril 1949 5 months 13 Tariffs Countries

exchangedsome 5,000tariffconcessions

Torquay September1950 8 months

38 Tariffs Countriesexchangedsome 8,700tariffconcessions,cutting the1948 tarifflevels by 25%


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Geneva IIJanuary1956 5 months

26 Tariffs,admissionof Japan

$2.5 billion in tariff

reductions

DillonSeptember1960

11 months26

Tariffs Tariff concessions worth$4.9 billion of worldtrade

Kennedy May 1964 37 months 62 Tariffs,Anti-dumping

Tariff concessions worth$40 billion of worldtrade

Tokyo September1973

74 months 102 Tariffs,non-tariffmeasures,"framework"agreements

Tariff reductions worthmore than $300 billiondollars achieved

Uruguay September

1986

87 months 123 Tariffs,

non-tariffmeasures,rules,services,intellectualproperty,disputesettlement,textiles,agriculture,

creation ofWTO, etc

The round led to the

creation of WTO, andextended the range oftrade negotiations,leading to majorreductions in tariffs(about 40%) andagricultural subsidies, anagreement to allow fullaccess for textiles andclothing from developing

countries, and anextension of intellectualro ert ri hts.


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Difference between GATT & WTO

GATT WTO

GATT was ad hoc andprovisional

WTO and its agreements arepermanent.

GATT had contracting parties WTO has member countries

GATT system allowed existingdomestic legislation tocontinue even if it violated a

GATT agreement.

WTO does not permit this.

GATT was less powerful,dispute settlement system wasslow and less efficient. Itsruling could be easily blocked.

WTO is more powerful, disputesettlement mechanism is fastand more efficient. It is verydifficult to block the rulings.
http://www.wto.org/index.htmhttp://www.wto.org/index.htmhttp://www.wto.org/index.htmhttp://www.wto.org/index.htm


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The WTO has 159 members, representing more than 95%

of total world trade.The WTO is governed by a ministerial conference, meetingevery two years;,

a general council which implements the conference'spolicy decisions and is responsible for day-to-dayadministration;

Director-general, who is appointed by the ministerialconference.

The WTO's headquarter is at the Geneva, Switzerland

WTO & its Introduction


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Director General of WTO

Name:-Pascal Lamy


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Structure of WTO
http://www.wto.org/index.htmhttp://www.wto.org/index.htmhttp://www.wto.org/index.htmhttp://www.wto.org/index.htm


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Objectives of WTOTo help developing countries benefit fully from the globaltrading system

To set and enforce rules for international trade

To increase the transparency of decision-making processesTo facilitate trade without any discriminations

To resolve trade disputes

To provide forum for negotiating and monitoring theinternational trade

To cooperate with other major international economicinstitutions involved in global economic management

The main overall objective of WTO is to promote andensure the international trade in the member countries withthe mantra of Liberalization, Privatization and Globalization
http://www.wto.org/index.htmhttp://www.wto.org/index.htmhttp://www.wto.org/index.htm


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Disputes can arise if a member country resiles on itspromise.

Permanent and structured dispute settlement system.

Dispute Settlement Body consists of all WTO members.

DSB establishes a Panel of experts to consider dispute.

Panel/ Appellate report is to be accepted by DSB.Rejection in case of consensus against the Report.

After final verdict of DSB, the losing country announceschanges in its trade policy. If not, the complainant

country can impose limited trade sanctions preferably inthe sector of dispute .

Dispute Settlement Body


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60 days Consultations among countries in dispute45 days Panel of experts established6 months Final panel report to parties3 weeks Final panel report to WTO members60 days DSB adopts Panel report_____1 year (if No Appeal by either party)60-90 days Appeal Report

30 days DSB adopts appeal report_____

1 year 3 mths

Dispute Settlement Body Cont..


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Progress made so far

Trade Liberalisation

WTOs trade liberalization measures are embodied in avariety of agreements, No.60,which each country has tosign for becoming member of WTO.

Agreement on Agriculture (AOA)

Tariffs on agricultural products are bound

Non Tariff barriers such as Quotas for Import have beenconverted to tariff (Tariffication) to give predictability to

trade in agriculture commodities. Developed countries have agreed to cut export subsidies

by 36% (24% cut for developing countries).


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Trade Related Investment Measures Agreement (TRIMS)

Applies to measures that affect trade in goods.

No country shall apply any measure that discriminates againstforeigners or foreign products (Principle of National treatment).

However, permits utilization of local resources through Local ContentRequirements.

Discourages trade belonging requirements of countries by restrictingimport & pushing exports.

Anti Dumping Agreement

Member Countries can resort to anti dumping measures if they canestablish that goods are being dumped at price lower than the priceprevailing in the exporting country.

Extension of Import Duty can be levied to prevent dumping.


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Agreement on Trade Related Aspects of Intellectual Property

Rights (TRIPS)

Enjoins on the member countries to protect the rights of the

creators/invention of products or ideas. Copyrights, trademarks, geographical indications, Industrial

designs, patterns etc. are covered. e.g. Computer programs,films, wires & spirits are protected.

General Agreement on Trade in Services (GATS)

Lays down obligations of member countries to provide accessto import of services on the basis of MFN principle.

Exclusions permitted but to be notified by respective Govts. eg.Air Transport Services are excluded.
http://www.wto.org/index.htm


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Recent Developments

Tazikistan joined the WTO on 2ndMarch,2013.

WTO issues panel report on Chinasanti-dumping duties on EU X-rayscanners


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THANK YOU

abhinandan final ppt

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