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Anita

Ghanshyam
Greshma
Ojash
Rohan
Ranjana
hussain
WTO- IN BRIEF

• GATT-The general agreement on


tariff and trade was formed on 1948.
• Signed by 23 countries.
• Secretariat staff: 625
• Decided to form it in Geneva conference
1994.
• Official Formation-January 1, 1995.
• Signed by 128 countries.
• Headquarter- Geneva, Switzerland.
• Membership -153 member states. (on 23 July 2008)
• Director General- Pascal Lamy.
• Meeting every two years.
• A global organization dealing with rules of trade between
nations.
Objectives

• Trade without discrimination.


• To set and enforce rules for international trade.
• To resolve trade disputes.
• To increase the transparency of decision making processes.
• To cooperate with other major
international economic institutions.
involved in global economic management.
• To help developing countries benefit fully from the global
trading system.
• To promote and ensure the international trade in the
member countries with the mantra of

LIBERELISATION, PRIVATISATION &


GLOBALISATION
Principles of the trading
system
• Non-Discrimination
The most favored nation (MFN) rule.
The national treatment policy.

• More competitive.
• Binding and enforceable commitments.
• Transparency.
• Safety valves WTO.
Difference Between GATT and WTO

GATT WTO
• GATT was ad hoc and • WTO and its agreements are
provisional. permanent
• GATT had contracting parties. • WTO has members
• GATT system allowed existing • WTO does not permit
domestic. • WTO is more powerful than
• GATT was less powerful, dispute GATT, dispute settlement
settlement system was slow and mechanism is faster and more
less efficient, its ruling could be efficient, very difficult to block
blocked. the rulings.
The GATT trade rounds
GENEVA ROUND OF ANNECY ROUND OF
GATT GATT
• April 1949
• April 1947 • 5 months
• 7 months • 13 countries
• 23 countries • Countries exchanged
• Signing of GATT, some 5,000 tariff
45,000 tariff concessions
concessions affecting
$10 billion of trade
GENEVA II ROUND OF
TORQUAY ROUND OF GATT GATT
• September 1950 • January 1956
• 8 months • 5 months
• 38 countries • 26 countries
• Countries exchanged some • admission of Japan $2.5
8,700 tariff concessions, billion in tariff reductions
cutting the 1948 tariff levels
by 25%
DILLON ROUND OF KENNEDY ROUND OF
GATT GATT
• September 1960 • May 1964
• 11 months • 37 months
• 26 countries • 62 countries
• Tariff concessions • Anti-dumping Tariff
worth $4.9 billion of concessions worth
world trade $40 billion of world
trade

WTO
TOKYO ROUND
GATT
September 1973

74 months

102 countries

non-tariff measures, "framework" agreements

Tariff reductions worth more than


$300 billion dollars achieved
URUGUAY ROUND OF
GATT

123 countries
creation of WTO,
agricultural subsidies,
Tariffs, non- agreement to allow
tariff full access for textiles
measures, and clothing from
rules, services, developing countries,
intellectual and extension of
September property, intellectual property
1986 dispute rights.
settlement,
textiles,
agriculture,
creation of
WTO, etc
87 months

WTO
Doha Round- Doha summit
Achievements
The system helps promote peace

Disputes are handled constructively

Rules make life easier for all

Freer trade cuts the costs of living

It provides more choice of products and qualities

Trade raises incomes

Trade stimulates economic growth

The basic principles make life more efficient

Governments are shielded from lobby

The system encourages good government


Criticisms…….
The rich get richer and the poor get poorer.

Smaller countries have less negotiation power.

Domestic support and export subsidies for agricultural


products in the rich countries remain high

The most non-transparent of international


organizations.
Bibliography & Webliography

• WTO –wto.org

• Google.com

• Wikipedia.com
THANK
YOU