World Trade Organization

1

WTO

International Bank for Reconstruction & Development. General Agreement on Tariffs & Trade – World Trade Organization initiated  . political boundaries for the purpose of business can be termed as globalization  Integration of the economy of the country with world economy International Monetary Fund.Introduction 2  Erasing national.

3 General Agreement on Tariffs & Trade (GATT) World Trade Organization .

Introduction 4  Prolonged recession before World War II in west was due to protectionism followed by industrial countries  Led to negotiations in 1947 among 23 countries To prevent protectionist policies & revive economies from recession Negotiations resulted in GATT World Trade Organization   .

Objectives of GATT 5 World Trade Organization .

6 Establishment of WTO World Trade Organization .

WTO 7  India is one of the founder members of WTO GATT was not an organization. foreign investment. trade in services. but was only a legal agreement WTO – designed to play the role of watchdog in the spheres of trade in goods. intellectual property rights World Trade Organization   .

Functions of WTO 8 World Trade Organization .

9 World Trade without Discrimination World Trade Organization .

Organization Structure of WTO 10      Based on 4 Hierarchical levels: Ministerial Conference General Council Councils Committees & Management Bodiess World Trade Organization .

Organization Structure of WTO 11  Ministerial Conference: Highest level Authority to make decisions on all matters Meets at least once in 2 years Policy & strategy making body & gets it executed & implemented by next level World Trade Organization      .

Organization Structure of WTO 12   General Council: Executive body Reports to Ministerial Conference   All members of WTO are also representatives in General Council Has other forms: Dispute Settlement Body Trade Policy Review Body World Trade Organization    .

Organization Structure of WTO 13  Councils: Council for trade in goods Council for trade in services    Council for Trade Related Aspects of Intellectual Property Rights World Trade Organization .

Organization Structure of WTO 14     Committees: & Management Bodies: Committee on trade & development Committee on BOP Committee on budget. finance & admin World Trade Organization .

Dispute Settlement Mechanism of WTO 15  Powerful mechanism to solve disputes over trade among the member countries World Trade Organization .

WTO & Dumping Measures 16   Types of Dumping: Intermittent Dumping Persistent Dumping Predatory dumping   World Trade Organization .

India & Dumping 17  After globalization. Indian economy govt – reduced rates of customs duties Indian govt started MFN clause to the imports from various countries These factors led to dumping from China & East Asian Countries World Trade Organization   .

India & Dumping 18        Goods dumped Indian Market are nt only China but also Est Asian Countries: Soaps & computer parts – Thailand Chocolates – Malaysia Instant coffee mix – Singapore Glassware & Crockery – Indonesia Tea – Sri Lanka Tiles – Taiwan World Trade Organization .

India & Dumping 19  Ease of import regulations main reason for dumping in India World Trade Organization .

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