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World Trade Organization
Transcript of World Trade Organization
Countries By: Vasu
& Vethusha The WTO currently has 157 members, of which 117 are developing countries or separate customs territories.
Members of the World Trade Organization are countries in South America, North America, South Asia, Greenland, Australia, Africa and the European Union. Purpose of
Organization The world Trade Organization initiated in the late 1900’s because the General Agreement on Tariffs and Trade were simply rules and regulations which led to conflicts between countries and the GATT was having difficulties adapting to the new globalizing economy. Reason for
Development Important Events and
or Turning points
of the Organization Recent
Development Canada's Role
Organization Info The purpose of the world trade organization is to ensure and promote free movement of goods and services. The Organization also resolves disputes among member countries regarding the interpretation of the agreements as well as observing and reviewing the trade policies of the member countries to ensure that trade is fair on all levels. The World Trade Organization provides an opportunity for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all countries, thus contributing to economic growth and development. Besides this the WTO also:
-Helps the developing countries
-Reduces Costs of Living and raises Standards of Living
-Contributes to Peace and Stability When their attempts to set up the International Trade Organization failed, the GATT agreement transformed into the World Trade Organization. The international community which composed of negotiating governments had always planned of making an organization that would ensure fair trade. What the world needed was a dispute settlement system which was faster, more spontaneous than the old GATT system. DOHA Development Agenda (2002)
Launched on November 2001, in Doha.
Round of negotiations
Aim is to achieve a major improvement in the trading system
By introducing lowered trade barriers and revising trade rules
Significantly improved trading in Developing Countries 1995 – The WTO is established 2003 – The WTO ruled in favour of the European Union over tax breaks for US exporters.
The European Union got to impose $4 billion in sanctions against the US.
WTO also ruled that duties imposed by the US on imported steel were illegal because of which the US had to abolish tariffs.
The WTO also announced access for developing countries to cheap medicines which left a few agencies dissatisfied. 2009 – Global Trade flows shrunk by 9 % and trade fell by 10% (Recesssion)
2011 – US appealed to impose extra duties on Chinese imports Impact
Impact Relevant Information Some Countries and Islands that are not a part of theWorld Trade Organization are North Korea, San Marino, Somalia, Monaco, South Sudan and Marshall Islands. December 10th- 14th: Non-resident Members and Observers
December 10th: Working Party on the Accession of Kazakhstan
December 10th-12th: General Council
December 17th: Dispute Settlement Body
December 17th: Trade Policy Review Body
December 18th & 20th: Trade Policy Review Body –U.S.A The WTO has started the Doha Rounds negotiations, to improve the trading opportunities with developing countries. It includes debates on agriculture, services, non-agricultural market access and more. Canada has been a member within the WTO since January 1, 1995. Canada is an active participant in during the WTO negotiations about various trade agreements, disputes and policies. International trade is important to Canada’s economy, and the economy depends on access to global markets from agricultural goods to natural resources. Canada’s membership with the WTO helps establish the access to global markets and networks to further expand Canada’s future. Canada has a Permanent Mission to the WTO in Geneva, Switzerland. It deals with Canada’s position in the WTO, and helps develop and advance Canada’s economic interests with the WTO. The World Trade Organization handles trade agreements involving goods, services and intellectual property, between all the member countries. The WTO’s main job is to deal with the global rules of trade between the member countries, and ensure trading goes as smoothly as possible. The WTO helps build trading capacity with those developing countries that are in need of help. They also resolve trade disputes between countries, if rights under the agreements have been infringed. They take into consideration individual countries’ needs and commitments, and help reduce tariffs and other trade barriers, and open services markets. The WTO has resolved many international disputes and improved trading abilities to almost every country in the world.
It is the most influential place to go to sort out any trade problems with another country.
By liberalizing trade and trade barriers, more countries have access to the global market.
With the global economy changing, and fewer trade barriers to worry about, international trade and investment are more easily attainable.
It helps countries increase their global scale, and commercial activity. Location: Geneva, Switzerland
Established: January 1, 1995
Created by: Uruguay Round negotiations (1986-1994)
Head: Pascal Lamy
Structure of WTO:
•Committees, Bodies and Councils
•Manage WTO trade agreements
•Handles trade disputes
•Monitor national trade policies
•Assist developing countries with trade What does the acronym WTO stand for? When was the WTO formed? January 1, 1995 World Trade Organization Name 2 things the WTO does Name 3 countries or islands that are
NOT a part of the WTO Who is the head of the WTO? Pascal Lamy Where is the WTO located? Geneva, Switzerland Index: Brief History
Purpose of the Organization
Reason for Development
Important Events/Turning Points
Recent Meetings and Developments
Impact for Member Countries
Quiz History General Agreement on Tariffs and Trade (GATT) was introduced in 1948 after World War II.
GATT reduced trade barriers and reduced tariffs.
GATT could not keep up with the globalizing world in the late 1900’s
As a result…. GATT was replaced by the World Trade Organization on January 1st 1995. What was the WTO
originally known as? General Agreement on
Tariffs and Trade (GATT) References: "Foreign Affairs and International Trade Canada." Negotiations â Doha Round (2001-present). 1 Dec. 2012 http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/wto-omc/nego.aspx?lang=eng&view=d
"Foreign Affairs and International Trade Canada." Ministerial Conferences. 6 Dec. 2012. http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/wto-omc/min.aspx?lang=eng&view=d
"Foreign Affairs and International Trade Canada." Canada and the World Trade Organization. 6 Dec. 2012. http://www.international.gc.ca/genev/wto-omc/index.aspx?lang=eng&view=d
"WORLD TRADE ORGANIZATION." WTO. 6 Dec. 2012. http://www.wto.org/english/thewto_e/gcounc_e/gcounc_e.htm
"WORLD TRADE ORGANIZATION." WTO. 6 Dec. 2012. http://www.wto.org/english/thewto_e/whatis_e/what_we_do_e.htm
"Foreign Affairs and International Trade Canada." Seizing Global Advantage. 6 Dec. 2012. http://www.international.gc.ca/commerce/strategy-strategie/index.aspx?lang=en&view=d "WORLD TRADE ORGANIZATION." WTO. 6 Dec. 2012. http://www.wto.org/english/thewto_e/countries_e/canada_e.htm
"Timeline: World Trade Organization." BBC News. BBC, 15 Feb. 2012. 2 Dec. 2012. http://news.bbc.co.uk/2/hi/europe/country_profiles/2430089.stm
"Public Forum 2012: Highlights." YouTube. YouTube, 01 Oct. 2012. 2 Dec. 2012. http://www.youtube.com/watch?v=lHfsG_Q-YHg&list=UUS3LJf8IInqTB0fjJeZpSFw&index=7