Published on March 8, 2014
Logo and meaning Introduction Objectives Functions Structure Agreements and policies Ministerial meets Impact on economy Criticism
• An independent global trade organization • Promote multilateral trade among member nation • Replaced GATT
Location : Geneva, Switzerland Established : 1st January 1995 Created by : Uruguay Round Negotiation (1986-94) Membership : 160 members Budget :197 million Swiss francs for 2013 Secretariat Staff : 640 Head : Roberto Azevedo of Brazil (DirectorGeneral)
Trade without Discrimination Settle disputes over trade among member nation. Review national trade policies. Co-operate with other international organizations as IMF, World Bank. To take special steps for development of poorest nations. Play active role in trade negotiations between member nation.
To ensure trade flows smoothly, predictably and freely Administering trade agreements and acting as forum for trade negotiation Reviewing national trade policy and cooperating with international organization Assisting developing countries in trade policy issue through technical assistance and training programmes
Negotiating the reduction or elimination of obstacle to trade and agreeing on rules governing the conduct of international trade. Conducting economic research and collecting trade data in support of WTO activities. Settling trade disputes.
MINISTERIAL CONFERENCE Trade policy Review Body Working Groups Council for trade in Goods General council Council for TRIPs Council for trade in Services Dispute settlement body Council for TRIMs Trade negotiation committees
AGREEMENTS AND POLICIES Goods: WTO began with trade in goods. From 1947 to 1994 GATT was the forum for negotiating lower custom duty rates and other barriers. Intellectual property : Intellectual property rights are being covered under Trade Related Intellectual Property Rights(TRIPs) Services: Governed by General Agreement on Trade in Service and ensure free flow of services among member nations
Textile and clothing: Elimination of Multi fibre agreement Tariff free textile and clothing since 1.1.2005 Developing countries allowed to impose tariff and non tariff barrier for three years Dispute Settlement: Dispute settlement body has been set up. Director General of WTO acts as mediator. Special panel can also be setup on request of complaining country. Agriculture: Reduction in domestic subsidy Reduction in export subsidies Improvement in market access
MINISTERIAL MEET FIRST SECOND THIRD FOURTH FIFTH SIXTH SEVENTH EIGHTH NINTH YEAR 1996 1998 1999 2001 2003 2005 2009 2011 2013 PLACE SINGAPUR GENEVA SEATTLE DOHA CANCUM HONG KONG GENEVA GENEVA BALI
Held in Bali, Indonesia, from 3 to 7 December 2013 Agreed to allow countries to provide subsidy on staple food crops without any threat of punitive action. Support subsidies to poor farmers across all developing countries get safeguards against WTO rule Permits countries to store food grains to meet contingency requirements. Yemen got WTO membership
..increase in foreign trade …increase in inflow of foreign investment …restrict dumping …promotion of research because of patent …inflow of better technology and quality products …benefit for clothing and textile industry
…disadvantage to agriculture sector …patent of Indian herbs by foreign companies …loss to regional groupings …disadvantage to service sector …increase in unemployment
GARIMA BANSAL ROLL NO. 11020205 B.COM(HONS)
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