What is the WTO,eco

7/28/2019 What is the WTO,eco.

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What is WTO?

The World Trade Organization (WTO) is the

only global international organization dealing

with the rules of trade between nations. At its

heart are the WTO agreements, negotiated

and signed by the bulk of the worlds trading

nations and ratified in their parliaments. The

goal is to help producers of goods andservices, exporters, and importers conduct

their business.


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...In brief, the World Trade Organization

(WTO)

is the only international organizationdealing with the global rules of trade

between nations.

..Its main function is to ensure that tradeflows as smoothly, predictably and freely as

possible.

From the money in our pockets and the goods

and services that we use, to a more peaceful world

the WTO and the trading system offer a range of

benefits, some well-known, others not so obvious.


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.....Austria's participation

in the WTO. Austria has

been a WTO membersince 1 January 1995. It is

a member State of the

European Union (more

info). All EU member

States are WTO

members, as is the EU

(until 30 November

2009 known officially in

the WTO as theEuropean Communities

for legal reasons) in its

own right.

AUSTRIAAN IMPORTANT MEMBER OF WTO
http://www.wto.org/english/thewto_e/countries_e/european_communities_e.htmhttp://www.wto.org/english/thewto_e/countries_e/european_communities_e.htm


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11 May 2010:Austria offered EUR200,000 to WTO

training programme for developing countries.

4 December 2009:Trade is the stimulus package

available to developing countries Lamy.

23 July 2009:Austria donates EUR 200,000 to WTO

trust fund to assist developing countries.

Latest about AUSTRIA

ANd WTO.
http://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htm


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AUSTRIA ANd WTO........Austria is convinced that the most important

trade policy instrument for promoting growth on a

global scale is the rapid conclusion of anambitious, balanced and comprehensive DohaRound. In times of increasingly globalizedmarkets transparent, predictable global rulesunder the WTO system and a further reduction ofobstacles to trade in goods and services are ofhighest value. As an EU Member, Austria fullysupports the EU objectives in the Doha Round.


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Austria has undertaken a range of policy

measures to contain the problems arisingfrom the financial sector and to stimulate theeconomy, in particular by spurring domesticdemand (e.g. car-scrapping scheme, personalincome tax cuts and support for climate-friendly renovation) and by facilitating accessto export finance. It has also invested in

infrastructure and promoted employment toalleviate the crisis. These measures havealready shown first results.


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In future, WTO must continue to be ready totackle new issues in line with its principal role, inparticular by: strengthening trade in increasinglyintegrated markets in line with business needs,taking into account all aspects of sustainabledevelopment (an issue which is of highimportance for Austria) and enhanced coherencewith other relevant international organizations.

For instance, WTO can help to address thepressing needs with reference to climate changeby liberalising trade in environmental goods andservices.


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Austrian Federal Minister for Economic Affairs and

Labour Dr. Martin Bartenstein and WTO Director

General Dr. Supachai Panitchpakdisigned theMemorandum of Understanding on Austrias

contribution during the opening day of the Fifth

WTO Ministerial Conference in Cancn, Mexico.For

the second time, Austria makes a substantialcontribution to the DDA Global Trust Fund, Minister

Bartenstein said. Announcements by leaders of the

developed world should be followed by concrete

action, he added. We strongly support the ideathat developing countries should be offered a level

playing field through a joint effort to build up their

capacities. I am, therefore, proud that my country

contributes 310.000 Swiss francs to the Fund.


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The 10 benefits :-

1. The system helps promote peace

2. Disputes are handled constructively

3. Rules make life easier for all

4. Freer trade cuts the costs of living

5. It provides more choice of products and qualities

6. Trade raises incomes

7. Trade stimulates economic growth8. The basic principles make life more efficient

9. Governments are shielded from lobbying

10. The system encourages good government


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1.The system helps to keep the peace : Thissounds like an exaggerated claim, and it would be wrongto make too much of it. Nevertheless, the system does

contribute to international peace, and if we understand

why, we have a clearer picture of what the system

actually does.

2. The system allows disputes to be handled

Constructively:As trade expands in volume, in the

numbers of products traded, and in the numbers of countriesand companies trading, there is a greater chance that

disputes will arise. The WTO system helps resolve thesedisputes peacefully and constructively.


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3. A system based on rules rather than power

makes life easier for all: The WTO cannot claim tomake all countries equal. But it does reduce some

inequalities, giving smaller countries more voice,and at

the same time freeing the major powers from the

complexity of having to negotiate trade agreements witheach of their numerous trading partners.

4. Freer trade cuts the cost of living : We are allconsumers. The prices we pay for our food and clothing,

our necessities and luxuries, and everything else inbetween, are affected by trade policies.


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5. It gives consumers more choice, and a broader

range of qualities to choose from :Think of all the thingswe can now have because we can import them: fruits

and vegetables out of season, foods, clothing and other

products that used to be considered exotic, cut flowers

from any part of the world, all sorts of household goods,

books, music, movies, and so on.

6. Trade raises incomes : Lowering trade barriers allows

trade to increase, which adds to incomes national

incomes and personal incomes. But some adjustment is

necessary.


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7. Trade stimulates economic growth,

and that can be good news for employment :Trade

clearly has the potential to create jobs. In practice there

is often factual evidence that lower trade barriers have

been good for employment.But the picture is complicated

by a number of factors.The alternative protectionismis

not the way to tackle employment problems.

8.The basic principles make the systemeconomically more efficient, and they cut costs :Many

of the benefits of the trading system are more difficult to

summarize in numbers, but they are still important. Theyare the result of essential principles at the heart of the

system, and they make life simpler for the enterprises

directly involved in trade and for the producers of goodsand services.


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9. The system shields governments from

narrow Interests :The GATT-WTO system whichevolved in the second half of the 20th Century helps

governments take a more balanced view of trade

policy. Governments are better placed to defend

themselves against lobbying from narrow interest

groups by focusing on trade-offs that are made in the

interests of everyone in the economy.

10.The system encourages good government :Under WTO rules, once a commitment has been

made to liberalize a sector of trade, it is difficult toreverse. The rules also discourage a range of unwise

policies. For businesses, that means greater certainty

and clarity about trading conditions. For governments

it can often mean good discipline.


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Thank you..!

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What is the WTO,eco