hard copy of wto

7/29/2019 Hard Copy of Wto

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WTO(WORLD TRADE ORGANIZATION)

Project made by:

MANISH DIWALE 85SHRUTI GODBOLE 86PRASHANT JADHAV 88POONAM KAMBLE 92

Yogendra Patel 106PRASHANT PAWAR 109


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ACKNOWLEDGEMENTS We would like to thankKAMLA madam for providing us with

an opportunity to work on the project and also for her help

and guidance.

We would like to thank the library staff and the librarian for

their advice and help.

We would also like to thank friends and family for their

valuable inputs and suggestions.

Last but not the least we thank our team members for their

active participation and co-operation without which the

project would be a distant reality.


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INDEXSR.NO. TOPIC PAGE NO.

1. WHAT IS WTO?2. FACT SHEET3. HISTORY OF WTO4. OBJECTIVE OF WORLD TRADE ORGANIZATION

(WTO)

5. LEGAL FRAMEWORK OF WORLD TRADEORGANIZATION (WTO)

6. FUNCTION OF WORLD TRADE ORGANIZATION(WTO)

7.ADVANTAGES OF WTO

8. DISADVANTAGES OF WTO9. PRINCIPLES OF THE WTO


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10. STRUCTURE OF THE WORLD TRADE ORGANIZATION11. MISUNDERSTANDING ABOUT WTO12. SWOT ANYLASIS OF WTO13. INDIA AND WTO14. CONCLUSION15. BIBLIOGRAPHY


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WHAT IS WTO?

The World Trade Organization (WTO) is the only global

international organization dealing with the rules of trade between

nations. At its heart are the WTO agreements, negotiated and

signed by the bulk of the worlds trading nations and ratified in

their parliaments. The goal is to help producers of goods and

services, exporters, and importers conduct their business.

The International trade is based on multilateral trading

system.

It is a system involving trade amongst various countries. it is

therefore, necessary that the rules and regulation of such system

are properly define.

In the year 1947, an attempt was made by 23 countries

in the world to define the basic norms for conduct of international

trade. The trade negotiation amongst these 23 countries in

multilateral treaty called general agreement On Traffic and Trade

(GATT) in the year 1948. The GATT was established to secure theconduct of international trade based on the principles of non-

discrimination, transparency and liberalization.

The GATT 1994 is being implemented with effect

from 1 of January 1995 when the very first agreement regarding

the establishment of world trade organization (WTO) was

established. At present 151 countries are member of World Trade

Organization (WTO).


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FACT SHEET

LOCATION GENEVA, SWITZERLAND

ESTABLISHED 1 JANUARY 1995

CREATED BY URUGUAY ROUNDNEGOTIATIONS (198694)

MEMBERSHIP 153 COUNTRIES (SINCE 23 JULY2008)

BUDGET 194 MILLION SWISS FRANCS FOR2010

SECRETARIAT STAFF 637

HEAD PASCAL LAMY (DIRECTOR-GENERAL)

The history


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On November 30th, United States Trade Representative Ron Kirk will be in Geneva,

Switzerland for the 7th Ministerial Conference of the World Trade Organization. This is

the first of two ustr.gov installments on the history of this organization.

Although the World Trade Organization (WTO) is only 14 years old, its history can be

traced back to a period just after World War II.

In 1947, the world's major trading countries signed the general agreement on tariffs and

trade (GATT) which laid the ground rules for the multilateral trading system. After efforts

to establish an international trade organization failed in 1948, the GATT also served as

a provisional forum for members to address international trade matters. Over the years,

GATT members conducted a series of multilateral negotiations known as "rounds" tolower trade barriers between them.

The first five GATT trade rounds after 1947 focused on lowering tariffs. The Kennedy

round in the 1960s expanded discussions from tariff cuts to more general trade rules,

leading to the negotiation of the GATT anti-dumping agreement. In the 1970s,

participants in the Tokyo round of talks lowered tariffs further and concluded

agreements -- which only some members joined -- on non-tariff trade barriers, such as

technical standards.

The following round, launched in 1986, built upon the progress made in the Tokyo round

and in previous negotiations. Known as the Uruguay round, it was, up to that time, the

largest and most comprehensive trade round. In the Uruguay round, GATT members

agreed to lower tariffs, address non-tariff barriers, and extend trade rules into several

new areas, including trade in services and intellectual property.

At the conclusion of the Uruguay round, representatives from most of the 123

participants signed a declaration in Marrakesh, morocco creating the world trade

organization and bringing the agreements and commitments concluded during the

round under the new organization. On January 1, 1995, the WTO officially replaced the

GATT and the informal forum it provided for more than four decades.


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Today, the WTO is a vital international institution. It has 153 members and, collectively,

they represent 95 percent of world trade.

.

OBJECTIVE OF WORLD TRADE ORGANIZATION (WTO) To ensure the conduct the international trade on non-discrimination

basis.

To raise standard of living and income, ensuring full employment

To expend production and trade

Protecting environment

Ensuring better share for developing countries

LEGAL FRAMEWORK OF WORLD TRADE ORGANIZATION(WTO)

Protection through import traffic


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Reduction in traffic and binding against further increase

Conduct of trade according to M.F.N. clauses

Commitment to national treatment rule.

FUNCTION OF WORLD TRADE ORGANIZATION (WTO)

Administering World Trade Organization (WTO) trade agreement

Forum the trade negotiation

Handling trade disputes

Monitoring national trade policy

Technical assistance and training for developing countries

Co-operation with other international organization (like help from World

Bank and IMF).

Raising standards of living;


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Ensuring full employment;

Ensuring large and steadily growing real incomes and demand; and

Expanding the production of and trade in goods and services.

ADVANTAGES OF WTO

World Trade Organization helps member states in various ways and thisenables them to reap benefits such as:

Helps promote peace w ithin nations:Peace is partly an outcome of two of themost fundamental principle of the trading system; helping trade flow smoothly and

providing countries with a constructive and fair outlet for dealing with disputes over

trade issues. Peace creates international confidence and cooperation that the WTO

creates and reinforces.

Disputes are handled constructively:As trade expands in volume, in the numbersof products traded and in the number of countries and company trading, there is a

greater chance that disputes will arise. WTO helps resolve these disputes peacefully

and constructively. If this could be left to the member states, the dispute may lead to

serious conflict, but lot of trade tension is reduced by organizations such as WTO.

Rules make life easier for all: WTO system is based on rules rather than power andthis makes life easier for all trading nations. WTO reduces some inequalities giving

smaller countries more voice, and at the same time freeing the major powers from the

complexity of having to negotiate trade agreements with each of the member states.


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Free trade cuts the cost of living:Protectionism is expensive, it raises prices, WTOlowers trade barriers through negotiation and applies the principle of non-discrimination.

The result is reduced costs of production (because imports used in production are

cheaper) and reduced prices of finished goods and services, and ultimately a lower costof living.

It provides more choice of products and qualities:It gives consumer morechoice and a broader range of qualities to choose from.

Trade raises income:Through WTO trade barriers are lowered and this increasesimports and exports thus earning the country foreign exchange thus raising the

country's income.

Trade stimulates economic growth:With upward trend economic growth, jobs canbe created and this can be enhanced by WTO through careful policy making and

powers of freer trade.

Basic principles make life more efficient:The basic principles make the systemeconomically more efficient and they cut costs. Many benefits of the trading system are

as a result of essential principle at the heart of the WTO system and they make life

simpler for the enterprises directly involved in international trade and for the producers

of goods/services. Such principles include; non-discrimination, transparency, increased

certainty about trading conditions etc. together they make trading simpler, cutting

company costs and increasing confidence in the future and this in turn means more job

opportunities and better goods and services for consumers.

Governments are shielded from lobbying:WTO system shields the governmentfrom narrow interest. Government is better placed to defend themselves against

lobbying from narrow interest groups by focusing on trade-offs that are made in the

interests of everyone in the economy.


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The system encourages good governance:The WTO system encourages goodgovernment. The WTO rules discourage a range of unwise policies and the commitment

made to liberalize a sector of trade becomes difficult to reverse. These rules reduce

opportunities for corruption.


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DISADVANTAGES OF WTO

The WTO Is Fundamentally Undemocratic:The policies of the WTO impact allaspects of society and the planet, but it is not a democratic, transparent institution. The

WTO rules are written by and for corporations with inside access to the negotiations.

For example, the US Trade Representative gets heavy input for negotiations from 17

"Industry Sector Advisory Committees." Citizen input by consumer, environmental,

human rights and labor organizations is consistently ignored. Even simple requests for

information are denied, and the proceedings are held in secret. Who elected this secret

global government?

The WTO Will Not Make Us Safer :The WTO would like you to believe thatcreating a world of "free trade" will promote global understanding and peace. On the

contrary, the domination of international trade by rich countries for the benefit of their

individual interests fuels anger and resentment that make us less safe. To build real

global security, we need international agreements that respect people's rights to

democracy and trade systems that promote global justice.

The WTO Tramples Labor and Human Rights: TO rules put the "rights" ofcorporations to profit over human and labor rights. The WTO encourages a 'race to the

bottom' in wages by pitting workers against each other rather than promoting

internationally recognized labor standards. The WTO has ruled that it is illegal for a

government to ban a product based on the way it is produced, such as with child labor.

It has also ruled that governments cannot take into account "non commercial values"

such as human rights, or the behavior of companies that do business with vicious

dictatorships such as Burma when making purchasing decisions.

The W TO W ould Privatize Essential Services: The WTO is seeking to privatizeessential public services such as education, health care, energy and water. Privatization

means the selling off of public assets - such as radio airwaves or schools - to private


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(usually foreign) corporations, to run for profit rather than the public good. The WTO's

General Agreement on Trade in Services, or GATS, includes a list of about 160

threatened services including elder and child care, sewage, garbage, park maintenance,

telecommunications, construction, banking, insurance, transportation, shipping, postal

services, and tourism. In some countries, privatization is already occurring. Those least

able to pay for vital services - working class communities and communities of color - are

the ones who suffer the most.

The WTO Is Destroying the Environment: The WTO is being used bycorporations to dismantle hard-won local and national environmental protections, which

are attacked as "barriers to trade." The very first WTO panel ruled that a provision of the

US Clean Air Act, requiring both domestic and foreign producers alike to produce

cleaner gasoline, was illegal. The WTO declared illegal a provision of the Endangered

Species Act that requires shrimp sold in the US to be caught with an inexpensive device

allowing endangered sea turtles to escape. The WTO is attempting to deregulate

industries including logging, fishing, water utilities, and energy distribution, which will

lead to further exploitation of these natural resources.

The WTO is Killing People: The WTO's fierce defense of 'Trade RelatedIntellectual Property' rights (TRIPs)patents, copyrights and trademarkscomes at the

expense of health and human lives. The WTO has protected for pharmaceutical

companies' 'right to profit' against governments seeking to protect their people's health

by providing lifesaving medicines in countries in areas like sub-Saharan Africa, where

thousands die every day from HIV/AIDS. Developing countries won an important victory

in 2001 when they affirmed the right to produce generic drugs (or import them if they

lacked production capacity), so that they could provide essential lifesaving medicines to

their populations less expensively. Unfortunately, in September 2003, many new

conditions were agreed to that will make it more difficult for countries to produce those

drugs. Once again, the WTO demonstrates that it favors corporate profit over saving

human lives.


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The W TO is Increasing Inequality: Free trade is not working for the majority of theworld. During the most recent period of rapid growth in global trade and investment

(1960 to 1998) inequality worsened both internationally and within countries. The UN

Development Program reports that the richest 20 percent of the world's populationconsume 86 percent of the world's resources while the poorest 80 percent consume just

14 percent. WTO rules have hastened these trends by opening up countries to foreign

investment and thereby making it easier for production to go where the labor is

cheapest and most easily exploited and environmental costs are low.

The WTO Hurts Poor, Small Countries in Favor of Rich Powerful NationsThe WTO supposedly operates on a consensus basis, with equal decision-making

power for all. In reality, many important decisions get made in a process whereby poor

countries' negotiators are not even invited to closed door meetings -- and then

'agreements' are announced that poor countries didn't even know were being

discussed. Many countries do not even have enough trade personnel to participate in all

the negotiations or to even have a permanent representative at the WTO. This severely

disadvantages poor countries from representing their interests. Likewise, many

countries are too poor to defend themselves from WTO challenges from the rich

countries, and change their laws rather than pay for their own defense.

There are A lternatives to the WTO: Citizen Organizations have developedalternatives to the corporate-dominated system of international economic governance.

Together we can build the political space that nurtures a democratic global economy

that promotes jobs, ensures that every person is guaranteed their human rights to food,

water, education, and health care, promotes freedom and security, and preserves our

shared environment for future generations.

The Tide is turning against Free Trade and the WTO!:International oppositionto the WTO is growing. Massive protests in Seattle of 1999 brought over 50,000 people


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together to oppose the WTOand succeeded in shutting the meeting down. When the

WTO met in 2001, the Trade negotiators were unable meet their goals of expanding the

WTO's reach. In Cancun, Mexico and Hong Kong, China, the WTO met thousands of

activists in protest, scoring a major victory for democracy. Developing countries refused

to give in to the rich countries' agenda of WTO expansion - and caused the talks to

collapse!


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PRINCIPLES OF THE WTO

The WTO establishes a framework for trade policies; it does not define

or specify outcomes. That is, it is concerned with setting the rules of the

trade policy games. Five principles are of particular importance in

understanding both the pre-1994 GATT and the WTO:

Non-Discrimination : It has two major components: themost favored nation(MFN)rule, and thenational treatmentpolicy. Both are embedded in the main WTO rules on

goods, services, and intellectual property, but their precise scope and nature differ

across these areas. The MFN rule requires that a WTO member must apply the same

conditions on all trade with other WTO members, i.e. a WTO member has to grant the

most favorable conditions under which it allows trade in a certain product type to all

other WTO members."Grant someone a special favor and you have to do the same for

all other WTO members." National treatment means that imported goods should be

treated no less favorably than domestically produced goods (at least after the foreign

goods have entered the market) and was introduced to tackle non-tariff barriers to trade

(e.g. technical standards, security standards et al. discriminating against imported

goods).

Reciprocity:It reflects both a desire to limit the scope offree-ridingthat may arisebecause of the MFN rule, and a desire to obtain better access to foreign markets. A

related point is that for a nation to negotiate, it is necessary that the gain from doing so

be greater than the gain available fromunilateralliberalization; reciprocal concessionsintend to ensure that such gains will materialize

Binding and enforceable commitments: The tariff commitments made by WTOmembers in a multilateral trade negotiation and on accession are enumerated in a

schedule (list) of concessions. These schedules establish "ceiling bindings": a country
http://en.wikipedia.org/wiki/Most_favoured_nationhttp://en.wikipedia.org/wiki/Most_favoured_nationhttp://en.wikipedia.org/wiki/Most_favoured_nationhttp://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/Free_rider_problemhttp://en.wikipedia.org/wiki/Free_rider_problemhttp://en.wikipedia.org/wiki/Free_rider_problemhttp://en.wikipedia.org/wiki/Unilateralismhttp://en.wikipedia.org/wiki/Unilateralismhttp://en.wikipedia.org/wiki/Unilateralismhttp://en.wikipedia.org/wiki/Unilateralismhttp://en.wikipedia.org/wiki/Free_rider_problemhttp://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/Most_favoured_nation


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can change its bindings, but only after negotiating with its trading partners, which could

mean compensating them for loss of trade. If satisfaction is not obtained, the

complaining country may invoke the WTO dispute settlement procedures.

Transparency : The WTO members are required to publish their trade regulations, tomaintain institutions allowing for the review of administrative decisions affecting trade, to

respond to requests for information by other members, and to notify changes in trade

policies to the WTO. These internal transparency requirements are supplemented and

facilitated by periodic country-specific reports (trade policy reviews) through the Trade

Policy Review Mechanism (TPRM).[The WTO system tries also to improve predictability

and stability, discouraging the use ofquotasand other measures used to set limits on

quantities of imports.

Safety valves:In specific circumstances, governments are able torestrict trade.There are three types of provisions in this direction: articles allowing for the use of trade

measures to attain noneconomic objectives; articles aimed at ensuring "fair

competition"; and provisions permitting intervention in trade for economic reasons.

Exceptions to the MFN principle also allow for preferential treatment ofdeveloped

countries, regionalfree trade areasandcustoms unions.
http://en.wikipedia.org/wiki/Import_quotahttp://en.wikipedia.org/wiki/Import_quotahttp://en.wikipedia.org/wiki/Import_quotahttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Customs_unionhttp://en.wikipedia.org/wiki/Customs_unionhttp://en.wikipedia.org/wiki/Customs_unionhttp://en.wikipedia.org/wiki/Customs_unionhttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Developed_countryhttp://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/Import_quota


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STRUCTURE OF THE WORLD TRADEORGANIZATION


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The Ministerial Conference: This is composed of international trade ministers fromall member countries. This is the governing body of the WTO, responsible for setting the

strategic direction of the organization and making all final decisions on agreements

under its wings. The Ministerial Conference meets at least once every two years.Although voting can take place, decisions are generally taken by consensus, a process

that can at times be difficult, particularly in a body composed of 136 very different

members.

The General Council: composed of senior representatives (usually ambassadorlevel) of all members. It is responsible for overseeing the day-to-day business and

management of the WTO, and is based at the WTO headquarters in Geneva. In

practice, this is the key decision-making arm of the WTO for most issues. Several of the

bodies described below report directly to the General Council.

The Trade Policy Review Body : is also composed of all the WTO members, andoversees the Trade Policy Review Mechanism, a product of the Uruguay Round. It

periodically reviews the trade policies and practices of all member states. These

reviews are intended to provide a general indication of how states are implementing

their obligations, and to contribute to improved adherence by the WTO parties to theirobligations.

The D ispute Settlement Body : is also composed of all the WTO members. Itoversees the implementation and effectiveness of the dispute resolution process for all

WTO agreements, and the implementation of the decisions on WTO disputes. Disputes

are heard and ruled on by dispute resolution panels chosen individually for each case,

and the permanent Appellate Body that was established in 1994. Dispute resolution is

mandatory and binding on all members. A final decision of the Appellate Body can only

be reversed by a full consensus of the Dispute Settlement Body.

The Councils on Trade in Goods and Trade in Services: operate under themandate of the General Council and are composed of all members. They provide a


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mechanism to oversee the details of the general and specific agreements on trade in

goods (such as those on textiles and agriculture) and trade in services. There is also a

Council for the Agreement on Trade-Related Aspects of Intellectual Property Rights,

dealing with just that agreement and subject area.

The Secretariat and Director General: of the WTO reside in Geneva, in the oldhome of GATT. The Secretariat now numbers just under 550 people, and undertakes

the administrative functions of running all aspects of the organization. The Secretariat

has no legal decision-making powers but provides vital services, and often advice, to

those who do. The Secretariat is headed by the Director General, who is elected by the

members.

The Committee on Trade and Development and Committeeon Trade andEnvironment are two of the several committees continued or established under the

Marrakech Agreement in 1994. They have specific mandates to focus on these

relationships, which are especially relevant to how the WTO deals with sustainable

development issues. The Committee on Trade and Development was established in

1965. The forerunner to the Committee on Trade and Environment (the Group on

Environmental Measures and International Trade) was established in 1971, but did not

meet until 1992. Both Committees are now active as discussion grounds but do not

actually negotiate trade rules.


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MISUNDERSTANDING ABOUT WTO

1. THE WTO DICTATES POLICY

TheWTO does NOT tel l governments w hat to do: -The rules of the WTO system are agreements resulting from negotiations among

member governments. The rules are ratified by members parliaments, and

Decisions taken in the WTO are virtually all made by consensus among all members.

In other words, decisions taken in the WTO are negotiated, accountable and

democratic.As for the WTO Secretariat, it simply provides administrative and technical

Support for the WTO and itsmembers. In fact: its the governments whodictate to the

WTO.

2.THE WTO IS FOR FREE TRADE AT ANY COSTThe WTO is NOT for free trade at any cost:-Yes, one of the principles of the WTO system is for countries to lower their trade

barriers and to allow trade to flow more freely. After all, countries benefit from the

increased trade those results from lower trade barriers. But just how low those barriers

should go is something member countries bargain with each other. Their negotiating

positions depend on how ready they feel they are to lower the barriers, and on what

they want to obtain from other members in return. One countrys commitments become

another countrys rights, and viceversa.

3.COMMERCIAL INTEREST TAKE PRIORITY OVER DEVELOPMENTThe WTO is NOT only concerned about commercial interests.This does NOT take priority over development:-Underlying the WTOs trading systemis the fact that freer trade boosts economic

growth and supports development. In that sense, commerce and development are good

for each other. At the same time, whether or not developing countries gain enough from


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the system is a subject of continuing debate in the WTO. But that does not mean to say

the system offers nothing for these countries. Far from it. The agreements include many

Important provisions that specificallytake developing countries interestsinto account

4.AND OVER THE ENVIRONMENTIn the WTO, commercial interests do NOT take priority over environmentalprotection:-The preamble of the Marrakesh Agreement Establishing the World Trade Organization

includes among itsobjectives, optimal use of the worldsresources, sustainable

development and environmental protection. This is backed up in concrete terms by

a range of provisions in the WTOsrules. Among the most important are umbrellaclauses (such as Article 20 of the General Agreement on Tariffs and Trade) which allow

countries to take actions to protect human, animal or plant life or health, and to observe

Exhaustible natural resources.

5.AND OVER HEALTH & SAFETYThe WTO does NOT d ictate to governments on issues such as food safety,and human health and safety. Again commercial interests do NOToverride:-Key clauses in the agreements (such as GATT Art. 20) specifically allow governments

to take actions to protect human, animal or plant life or health. But these actions are

disciplined, for example to prevent them being used as an excuse for protecting

domestic producersprotectionism in disguise. Some of the agreements deal in

greater detail with product standards, and with health and safety for food and other

products made from animals and plants. The purpose is todefend governments rights

to ensure the safety of their citizens.


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6.THE WTO DESTROYS JOBS, WORSENS, POVERTYThe WTO does NOT destroy jobs or widen the gap between rich and poor:-The relationship between trade and employment is complex. So is the relationship

between trade and equality. Free-flowing and more stable trade boosts economic

growth. It has the potential to create jobs, it can help to reduce poverty, and frequently it

does both. The biggest beneficiary is the country that lowers its own trade barriers. The

Countries exporting to it also gain, but less. In many cases, workers in export sectors

enjoy higher pay and greater job security.

7.SMALL COUNTRIES ARE POWERLESS IN THE WTOSmall countries are not powerless in the wto :-In recent years, developing countries have become considerably more active in WTO

negotiations, submitting an unprecedented number of proposals in the agriculture talks,

and working actively on the ministerial declarations and decisions issued in Doha,

Qatar,in November 2001. They expressed satisfaction with the process leading to the

Doha declarations. All of this bears testimony to their confidence in the system.

8.THE WTO IS THE TOOL OF POWERFUL LOBBIESThe WTO is NOT the tool of powerful lobbies :-This is a natural result of therounds type of negotiation(i.e. negotiations that

encompass a broad range of sectors). The outcome of a trade round has

to be a balance of interests. Governments can find it easier to reject pressure from

particular lobbying groups by arguing that it had to accept the overall package in

the interests of the country as a whole

9.WEAKER COUNTRIES ARE FORCED TO JOIN THE WTOWeaker countries do have a choice, they are NOT forced to join the WTO : -The reasons are positive rather thannegative. They lie in the WTOs keyprinciples,

such as non-discrimination and transparency. By joining the WTO, even a small country


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automatically enjoys the benefits that all WTO members grant to each other. And small

countries have won dispute cases against rich countriesthey would not have been

able to do so outside the WTO.

10. THE WTO UNDEMOCRATICThe WTO is NOT undemocratic:-It would be wrong to suggest that every country has the same bargaining power.

Nevertheless, the consensus rule means every country has a voice, and every country

has to be convinced before it joins a consensus. Quite often reluctant countries are

persuaded by being offered something in return. Consensus also means every country

accepts the decisions. There are no dissenters.


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SWOT ANYLASIS OF WTOSTRENGTHS

HUMAN FACTOR SUITABLE FOR INNOVATIVE ACTIVITY ANDKNOWLEDGE-BASED PRODUCTION

HEALTHY ECONOMY WELL-TRAINED & LOW -COST HUMAN RESOURCES AVAILABLE DEVELOPED FINANCIAL INSTITUTIONS & INTERMEDIARIES INSTITUTIONAL SUPPORT TO SME DEVELOPMENT

Weaknesses INSUFFICIENT LIBERALIZATION OF FOREIGN DIRECT INVESTMENT INSISTENCE ON FOOD SELF-SUFFICIENCY IN DEVELOPING COUNTRY

MEMBERS THE FACT THAT RUSSIA, THOUGH IS WILLING TO JOIN THE WTO, IS

UNABLE TO MEET THE REQUIREMENTS FOR MEMBERSHIP NO MECHANISM FOR WEIGHTING THE INFLUENCE OF A MEMBER


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OPPORTUNITIES DEVELOPMENT OF LABOUR-INTENSIVE SECTOR AVAILABILITY OF STRUCTURAL FUNDS INDUSTRIALIZATION PROCESSES BASED ON FDI, GLOBALIZATION OF FINANCIAL RESOURCES POSSIBILITY TO ESTABLISH POSITION IN THE TRANSPORT SERVICE

MARKET

THREATS NATIONALISM REGIONALISM IN THE FORM OF TRADE BLOCKS THE WTO HURTS POO R, SMALL COUNTRIES IN FAVOR OF RICH

POWERFUL NATIONS


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INDIA AND WTO

India is one of the founding members of WTO along with

134 other countries. India's participation in an increasingly

rule based system in governance of International trade,

would ultimately lead to better prosperity for the nation.

Various trade disputes of India with other nations have

been settled through WTO. India has also played animportant part in the effective formulation of major trade

policies. By being a member of WTO several countries are

now trading with India, thus giving a boost to production,

employment, standard of living and an opportunity to

maximize the use of the world resources.


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CONCLUSIONAlthough nobody was particularly eager to engage in a long,

nerve-wracking debate in the post. Delegates-dance session,

delegates in the WTO committee still had fight over a good deal of

open questions. It were few, single clauses of the resolution that

caused disagreement between the participants, but this

disagreement was severe. The ego-issue, how the chair called it,

kept the committee occupied for the greater part of the morning,

although the delegates were obviously exhausted. Comments like

shall I elaborate on point number (all:)No!, or We can makeclause seven far more precise. (Chair :) Please, dont. may show

the overall motivation to continue a debate about a topic which has

already reached a majority of supporters anyway. In the end the

resolution passed not with consensus but with a majority, which

worked come to a conclusion.


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BIBLIOGRAPHY www.wto.com

http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4

_e.htm

http://wiki.answers.com/Q/Advantages_and_disadvantages_of_wto

WORLD BANK,IMF&WTO-P.D. PUSKELE

www.mangementparadise.com

www.eco.com
http://www.wto.com/http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://www.mangementparadise.com/http://www.eco.com/http://www.eco.com/http://www.mangementparadise.com/http://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://wiki.answers.com/Q/Advantages_and_disadvantages_of_wtohttp://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htmhttp://www.wto.com/


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