general agreement on trade and tariffs.pptx

8/13/2019 General Agreement on Trade and Tariffs.pptx

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General

Agreement onTrade andTariffs.

Presentation By:

1. Brijan Anand Iyer(13077)

2. Davis.N.S (13079)

3. Yogesh Bhandari (13076)4. Nimisha Singh (13078)

5. Ashith.K (13074)

6. Badgujar Rohit (13075)


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IntroductionGATT stands for general agreement for tariffs

and trade.

A multilateral agreement that lays down therules and regulations for conductinginternational trade.

Came into existence on 1stJan 1948.

Basic aim to liberalise trade and reducebarriers.


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Objectives Expansion of international trade.

Increase of world production ensuring fullemployment in the participating nations.

Rise in standard of living of the worldcommunity as a whole.

Prevent protectionism.


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Norms of GATT

Norms

MostFavoured

Nation

Reciprocity

Consultationand DisputeSettlement

Transparency


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TRADE NEGOTIATIONS UNDERGATT

GATT held a total of 9 rounds:

1.Geneva round(April 1947)

Duration: 7 months

Countries: 23

Subject covered: Tariffs

Achievements : signing of GATT, tariffconcessions affecting $10 billion of trade


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2.ANNECY(FRANCE)round(April 1949)

Duration:5 months

Countries:13

Subject: Tariffs

Achievements: countries exchanged some 5000

tariff concessions

3.TORQUAY(ENGLAND)round(September 1950)

Duration: 8 months

Countries: 38Subject: Tariffs

Achievements: Countries exchanged some 8500tariff concessions. cutting 1948 tariff levels by 25%


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4.GEVEVA round(January 1956)

Duration:5 months

Countries:26

Subject: Tariffs, admission of Japan

Achievements: 2.5 billion in tariff reduction

5.Dillon(GENEVA)round(September 1960)

Duration: 11 months

Countries: 26

Subject:Tariffs

Achievements: Tariff concessions of worth 4.9billion worldwide


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6.Kennedy round(MAY 1964)

Duration:37 months

Countries:62

Subject: Tariffs, Anti dumping policies

Achievements: Tariff concessions of worth 40 billionworldwide

7.TOKYO(JAPAN) round(September 1973)

Duration: 74 months

Countries: 102

Subject: Tariffs, non-tariff measures, "framework"agreements

Achievements: Tariff concessions of worth 300billion worldwide was achieved


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8.URUGUAY round(September 1986)

Duration:87 months

Countries:123

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

Achievements: The round led to the creation ofWTO, and extended the range of tradenegotiations, leading to major reductions in tariffs(about 40%) and agricultural subsidies, anagreement to allow full access for textilesandclothing from developing countries, and anextension of intellectual property rights.


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9.DOHA round(November 2001)

Duration: ?

Countries: 159

Subject: Tariffs, non-tariff measures, agriculture,labour standards, environment, competition,investment, transparency, patents

Achievements: The round is not yet concluded.


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Weaknesses of GATT Benefits have gone to the industrialized nations.

Negotiations and tariffs reductions was mainlyfor manufactured goods because of which the

trade gap for developing countries has becomeunfavourable.

GATT was a contractual agreement betweenparties and thus parties could withdrawthemselves from the agreement.

GATT had a less powerful dispute settlementsystem. Its ruling could be easily blocked.


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In 1993, the GATT was updated (GATT 1994) toinclude new obligations upon its signatories. One ofthe most significant changes was the creation of

the World Trade Organization (WTO).

The 75 existing GATT members and the EuropeanCommunities became the founding members ofthe WTO on 1 January 1995.

WTO is more powerful than GATT. The disputesettlement system is more effective and faster anddifficult to block the rulings given by WTO.

GATT TO WTO


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Thank you!

general agreement on trade and tariffs.pptx

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