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World Trade Organization
Transcript of World Trade Organization
settle arguments and reduce trade tensions
stimulate economic growth and employment
cut the cost of doing business internationally
encourage good governance
give the weak a stronger voice
support the environment and health Cut living costs and raise living standards: Protectionism means to restrain international trade. The WTO’s global system does this through negotiation and works under the principle of non-discrimination. The result: reduced costs of production, reduced prices of finished goods and services, more choice and a lower cost of living.
Also, food is cheaper if protection is reduced. When you protect your agriculture, food is expensive. When protection is particularly high the impact can be huge. Settling Arguments and reduce trade tensions The fact that the debates are based on WTO agreements means that there is a clear basis for judging who is right or wrong. Once the judgement has been made, the agreements provide the focus for any further actions that need to be taken. Stimulate economic growth and employment This process of trade opening takes place in the framework of WTO rules, which take into account the fact that some countries are better equipped than others to open their markets widely.
Generally speaking, it is easier for developed countries to open their markets than for many developing countries.
As a result, average tariffs in developed countries are much lower than in developing countries. Cut the cost of doing business internationally Trade allows a divsion of labour between countries. It allows resources to be used more efficiently and effectively for production. But the WTO’s trading system offers more than that. It helps to produce more and to have lower costs. Encourage good governance The WTO system helps governments take a more balanced view of trade policy. They are better-placed to defend themselves against lobbying.
Internationally, the WTO is working closely with other international agencies to improve the way global issues are handled.
Around 140 intergovernmental organizations are observers in WTO committees and councils. Give the weak a stronger voice The rules are the result of negotiations and decisions, and they have been approved in members’ parliaments. The negotiation that set up the WTO, the Uruguay Round (1986-94).
Developed countries agreed to improve trade in clothing and farming — both issues were important for developing countries. Support the environment and health It could never be more important than protecting the environment or raising the quality of life. What WTO agreements do is to try to make trade support the things we really want, including a clean and safe environment. In Sub-Saharan Africa, those working in export-oriented companies collect a 34% wage premium over the average wage. WTO agreements can help to reduce corruption and bad government. 75% of WTO members are developing countries ! International trade is big part of the Canadian economy. It depends on access to global markets for goods, natural resources, and the products and services of an economy. Our participation in the WTO helps us to achieve these goals To ensure that Canada’s interests are represented effectively at the WTO, Canada maintains a Permanent Mission to the WTO in Geneva, Switzerland. WTO logo Ministerial Conference Council for trade in goods Council for trade in services Domestic regulations Trade in Financial services Market access Agriculture Sanitary measures How the WTO is structured Thanks for watching! Technical barriers to trade Import licensing Safeguards Specific commitments pop quiz: how many smiley faces were in the presentation? ANSWER IS....... 5!!!!!!!