OUTLINE Logo and meaning Introduction Objectives Functions Structure Agreements and policies Ministerial meets Impact on economy Criticism

• An independent global trade organization

• Promote multilateral trade among member nation

• Replaced GATT

INTRODUCTION TO WTO Location : Geneva, Switzerland Established : 1st January 1995 Created by : Uruguay Round Negotiation

(1986-94) Membership : 160 members Budget :197 million Swiss francs for

2013 Secretariat Staff : 640 Head : Roberto Azevedo of Brazil

(Director- General)

Trade without Discrimination Settle disputes over trade among member

nation. Review national trade policies. Co-operate with other international

organizations as IMF, World Bank. To take special steps for development of

poorest nations. Play active role in trade negotiations between

member nation.

WHAT DOES IT DO?

To ensure trade flows smoothly, predictably and

freely

Administering trade agreements and acting as forum for trade negotiation

Reviewing national trade policy and cooperating with international organization

Assisting developing countries in trade policy issue through

technical assistance and training programmes

Negotiating the reduction or

elimination of obstacle to trade and agreeing on rules governing the

conduct of international trade.Conducting economic

research and collecting trade data in support of

WTO activities.

Settling trade disputes.

Trade policy Review Body

General councilDispute

settlement body

MINISTERIAL CONFERENCE

Working

Groups

Council for

TRIPs

Council for trade in Goods

Council for trade

in Services

Council for

TRIMs

Trade negotiation committee

s

AGREEMENTS AND POLICIES

Goods:WTO began with trade in goods. From 1947 to 1994 GATT was the forum for negotiating lower custom duty rates and other barriers.

Intellectual property :Intellectual property rights are being covered under Trade Related Intellectual Property Rights(TRIPs)

Services:Governed by General Agreement on Trade in Service and ensure free flow of services among member nations

Textile and clothing:Elimination of Multi fibre agreementTariff free textile and clothing since 1.1.2005Developing countries allowed to impose tariff and non tariff barrier for three years

Dispute Settlement:Dispute settlement body has been set up.Director General of WTO acts as mediator.Special panel can also be setup on request of complaining country.

Agriculture:Reduction in domestic subsidyReduction in export subsidiesImprovement in market access

MINISTERIAL MEETS

MINISTERIAL MEET YEAR PLACE

FIRST 1996 SINGAPUR SECOND 1998 GENEVATHIRD 1999 SEATTLEFOURTH 2001 DOHA FIFTH 2003 CANCUMSIXTH 2005 HONG KONGSEVENTH 2009 GENEVAEIGHTH 2011 GENEVANINTH 2013 BALI

HIGHLIGHTS OF NINTH MINISTERIAL MEET

Held in Bali, Indonesia, from 3 to 7 December 2013

Agreed to allow countries to provide subsidy on staple food crops without any threat of punitive action.

Support subsidies to poor farmers across all developing countries get safeguards against WTO rule

Permits countries to store food grains to meet contingency requirements.

Yemen got WTO membership

..increase in foreign trade …increase in inflow of foreign

investment …restrict dumping …promotion of research because of

patent …inflow of better technology and quality

products …benefit for clothing and textile

industry

CRITICISM OF WTO …disadvantage to agriculture sector …patent of Indian herbs by foreign

companies …loss to regional groupings …disadvantage to service sector …increase in unemployment

ANY QUERY?

GARIMA BANSAL

ROLL NO. 11020205

B.COM(HONS)