Professional Documents
Culture Documents
GATT WTO
Ad hoc and provisional •Permanent and legal
Contracting parties •Members
Trade in goods •Trade in goods, services, Trade & IPRS
Dispute based on consensus •Faster, binding & Permanent mechanism
Overview
World Trade Organization (WTO) is one of the most powerful
institutions in the world. It is an international, multilateral organization,
which sets the rules for the global trading system & resolves disputes
between its member states;
MULTILATERAL
General Agreement on Tariffs and Trade (GATT 1994)
Agreement on Agriculture AoA
Agreement on the Application of Sanitary and Phytosanitary Measures(SPS)
Agreement on Textiles and Clothing (Terminated on 1 st Jan, 2005)
Agreement on Technical Barriers to Trade (TBT)
Agreement on Trade-Related Investment Measures (TRIMs)
Agreement on Pre-shipment Inspection (PSI)
Agreement on Rules of Origin
Agreement on Import Licensing Procedures
Agreement on Subsidies and Countervailing Measures
Agreement on Safeguards
Agreement on Anti-Dumping (Agreement on Article VI)
Agreement on Customs Valuation (Agreement on Article VII)
Agreements
General Agreement on Trade in Services (GATS)
Agreement on Trade-Related Aspects of Intellectual Property
Rights (TRIPS)
PLURILATERAL
Agreement on Trade in Civil Aircraft
Agreement on Government Procurement
International Dairy Agreement
International Bovine Meat-Agreement
WTO Agreement on Agriculture
Signed as part of the Uruguay Round Agreement in April 1994.
Came into force w.e.f 1 January, 1995. Had 10-year implementation period
from 1995 to 2004, for developing countries.
Covers three broad areas of agriculture and trade policy:
Market access,
Domestic support and
Export subsidies.
Obligation to reduce domestic support or subsidies extended to agriculture
if support given is above permissible level of 10 per cent of value of its
agricultural output.
Under the Agreement, there can be no restrictions on farm trade except
through tariffs -- i.e., non-tariff barriers such as quantitative restrictions on
imports through quotas, import licensing etc., are to be replaced by tariffs or
duties on imports to provide the same level of protection to domestic
agriculture and thereafter, tariff levels are to be progressively reduced.
Reduction Commitments in WTO - AoA
When WTO was set up, the majority of developing countries were
not at the table and were barely consulted. As a result, the WTO
essentially protects MNCs based in the North and acts as a tool of
rich and powerful countries - notably US, EU, Japan and Canada.