Professional Documents
Culture Documents
• Understanding of WTO
• Facts about WTO
• Principles and Functions of WTO
• Structure of WTO
• Agreements
• Impact on Indian economy
• Pros and cons
WORLD TRADE ORGANIZATION
• A global international organization whose primary
purpose is to open trade for the benefit of all the
nations.
• Officially commenced under the Marrakesh
Agreement.
• History of WTO
• They deal with: agriculture, textiles and clothing,
banking, telecommunications, government
purchases, industrial standards and product safety,
food sanitation regulations, intellectual property etc.
FACTS ABOUT WTO
Location : Geneva, Switzerland
Established : 1 January 1995
Membership: 164 Countries on 14th July 2016
Secretariat Staff : 640
Head : Roberto Azevêdo
PRINCIPLES OF WTO
Trade without discrimination
Tariff rates should be same.
Transparency
TPRM(Trade policy review mechanism)
Eg : FDI
Reciprocity
Given mainly for developed nations.
Eg: Concession on Tariff rates
Binding and Enforceable Commitments
Should not exceed bounded tariff rates without negotiating with its
trading partners.
Safety Valve
FUNCTIONS OF WTO
To implement rules and provisions related to trade.
To provide a platform to member countries to decide
future strategies related to trade and tariff.
To administer the rules and processes related to dispute
settlement.
To ensure the optimum use of world resources.
To improve the standard of living on people in the
member countries.
To protect the environment.
To accept the concept of sustainable development.
STRUCTURE OF WTO
Agreements
General Agreements on Tariffs and Trade (GATT)
Trade Related Aspects of Intellectual Property Rights
(TRIPS)
Trade Related Investment Measures (TRIMS)
Agreement on Agriculture (AOA)
Agreement on Technical Barriers Trade (TBT)
Sanitary and Phyto Sanitary (SPS) agreement
Anti-Dumping Practices (ADP)
General Agreements On Tariffs And Trade
(GATT)
GATT was 1st signed in 1947
Was designed:
Objectives
Allows members to apply standards, technical
regulations, conformity procedure for
1. Protection of human safety or health
2.Protection of animals & plant life or health
3.Protetcion of environment
4.Prevention of deceptive practices
However needs to ensure that these do not create
obstacles to international trade
Sanitary And Phyto Sanitary (SPS) agreement
All countries have rights to take sanitary and phyto
sanitary measures for protection of human, animal and
plant life and health
The right to protect human, animal and plant life or
health
Anti-Dumping Practices (ADP)