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Introduction of Wto

The World Trade Organization (WTO) was established on January 1, 1995 as the only global international organization dealing with the rules of trade between nations. The WTO has 164 member countries and coordinates policies around reducing trade barriers to benefit producers, exporters, and importers. The key functions of the WTO include negotiating trade agreements, monitoring members' compliance, and settling disputes between members.

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Farasat Ayoub Baloch
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71 views14 pages

Introduction of Wto

The World Trade Organization (WTO) was established on January 1, 1995 as the only global international organization dealing with the rules of trade between nations. The WTO has 164 member countries and coordinates policies around reducing trade barriers to benefit producers, exporters, and importers. The key functions of the WTO include negotiating trade agreements, monitoring members' compliance, and settling disputes between members.

Uploaded by

Farasat Ayoub Baloch
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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INTRODUCTION OF WTO

 World trade organization (WTO) was


established on 1st January 1995.
 It is the only global international
organization dealing with the rules of
trade between nations.
 The WTO (world trade organization) is
an association of 164 member countries,
of the 190 countries in the world today.
There are another 25 countries that have
observer status, a step that precedes
becoming a full-fledged member.
 So almost all the countries in the world
are members. There are all types of
countries in the WTO, capitalist,
socialist, rich and poor countries, very
industrialized and also developing
countries.
O (WTO) is an international institution that
oversees the global trade rules among
nations.
O  The main function of the organization is
to help producers of goods and services, as
well as exporters and importers, protect
and manage their businesses.
O Formation 1 January 1995; 26 years
ago
O Type Intergovernmental
organization
O Purpose Reduction of tariffs and other
barriers to trade
O Headquarter Centre William Rappard,
Geneva, Switzerland
O Coordinates 46°13′27″N
06°08′58″ECoordinates: 46°13′27″N
06°08′58″E
O Region served Worldwide
O Membership 164 member states[1]
O Official languages English, French,
Spanish[2]
O Director-General Ngozi Okonjo-Iweala[3]
MAJOR ACTIVITIES
OF WTO
O Negotiating the reduction or elimination of
obstacles to trade (import tariffs, Subsidies
etc)
O Monitoring and reviewing the trade
policies of the members.
O Assisting the process of accession of some
30 countries who are not yet members of
the organization.
O Explaining to and educating the public
about the WTO.
MISSION STATEMENT OF
WTO
O The world trade organization wto is the
international organization whose primary
purpose is to open trade for the benefit of
all.
Director general (Mr. Pascal lamy)
GOAL OF WTO.

O The ultimate goal is to help producers of


goods and services, exporters, and
importers conduct their business.
WTO DEAL WITH
O : Agriculture,
O Textiles and clothing, banking,
telecommunications,
O Government purchases, industrial
standards and
O Product safety, food sanitation
regulations, intellectual
O Property, and much more.
Objective of WTO
O The WTO has six key objectives.
1. Raising standard of living &
income.
2. Promoting full employment
3. Expanding production & trade,
and optimum utilization of
resources.
4. Introduce sustainable development
5. Promoting trade flows.
6. Establish procedures for solving
trade dispute among members.
Basic principles of
WTO
O .NON – DISCRIMINATION:-
This principle is based on the
concept of normal trade relations-
previously called most favored
nation(MFN).
O This rule required that WTO
members extend the same
favorable terms of trade to all the
member that they will extend to
any single member.
O TRANSPARENCY :-
O It is the pillar of WTO. All members are
required to publish their trade regulations ,
O To establish & maintain administrative
decisions affecting trade.-
O To respond to the information by other
members and to notify changes in trade
policies to WTO.
O Binding & enforceable commitments:-
In WTO, when countries agree to open
their market for goods and services, they
bind their commitments.
O Reciprocity :- It operates during
negotiations with the objective of
obtaining mutually beneficial
arrangements through reciprocal reduction
in tariffs binding.
FUNCTION OF WTO
TRADE NEGOTIATIONS
O The WTO facilitates trade negotiations
among countries by providing a framework
to structure the agreements, as well as
providing dispute resolution mechanisms.
It creates an international legal framework
that ensures the smooth exchange of goods
and services among the member countries.
2. IMPLEMENTATION AND
MONITORING
Once the agreements are negotiated, the job
of the WTO is to ensure that the signatory
countries adhere to their commitments in
practice. It also produces research based on
the impact of the agreements on the
economies of the countries involved.
3. DISPUTE SETTLEMENT
O The WTO also acts as a dispute settlement
body when there is a trade conflict between
its member states. The members of the
WTO can file complaints against other
member states if they feel the trade and
economic policies of a country are
divergent from their commitments under
one of the agreements of the WTO.
Following the complaint, there are formal
hearings like a court until a settlement is
reached.
4. BUILDING TRADE CAPACITY
O The WTO runs special programs to support
developing countries by helping them build
the capacity to participate in free trade with
more developed countries. It also gives
concessions under certain agreements to
low-development countries to ease them
into free trade with other countries.
WHY WTO
O To arrange the implementation,
administration and operations of
O multilateral (involving three or more
participants) and Plurilateral
O trade agreements (power which shared
between different , countries)
O • To arrange the forum for deliberations for
the member nations in
O regard to their multilateral trade relations
in issues deal with under
The agreements.
O To provide a framework for implementing
of the results arising out
O Of the deliberations (long and care full
agreements/consideration)
O Which taken place at ministerial
conference level
O To manage the created understanding on
rules and procedure governing the
settlement of disputes • to manage
effectively and efficiency the trade policy
review mechanism (TRIM) ,
O to create more together relationship with
all nations in respect of global economic
policymaking, it would cooperate with the
IMF and the world bank & its affiliated
organizations

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