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WTO WTO WTO By: Mara, Angelica, and Josh.

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Presentation on theme: "WTO WTO WTO By: Mara, Angelica, and Josh."— Presentation transcript:

1 WTO WTO WTO By: Mara, Angelica, and Josh

2 157 Members Albania Angola Antigua and Barbuda Argentina Armenia
Australia  Austria  Bahrain, Kingdom of  Bangladesh  Barbados  Belgium  Belize  Benin  Bolivia, Plurinational State of  Botswana    Brazil  Brunei Darussalam Bulgaria  Burkina Faso  Burundi  Cambodia  Cameroon  Canada  niger  Nigeria  Norway Oman  Pakistan  Panama  Papua New Guinea  Paraguay  Peru  Philippines  Slovenia  Solomon Islan0ds  South Africa  Spain  Sri Lanka  Tunisia  Turkey  Uganda  Ukraine  United Arab Emirates  United Kingdom  United States of America  Uruguay  Vanuatu  Venezuela, Bolivarian Republic of  Viet Nam  Zambia  Zimbabwe  Cape Verde Central African Republic  Chad  Chile  China  Colombia  Congo  Costa Rica  Côte d'Ivoire  Croatia     Cuba  Cyprus  Czech Republic  Democratic Republic of the Congo  Denmark Djibouti  Dominica  Dominican Republic  Ecuador  Egypt  El Salvador  Estonia Poland  Portugal  Qatar  Romania  Russian Federation  Rwanda  Saint Kitts and Nevis  Saint Lucia  Suriname  Swaziland  Sweden  Switzerland  Chinese Taipei  Tanzania  Thailand  European Union (formerly European Communities)    Fiji  Finland  France  Gabon  The Gambia    Georgia  Germany  Ghana  Greece  Grenada  Guatemala  Guinea  Guinea-Bissau  Guyana  Haiti  Honduras  Hong Kong, China  Hungary  Iceland  India  Indonesia  Ireland  Israel  Italy Saint Vincent & the Grenadines  Samoa  Saudi Arabia, Kingdom of  Senegal  Sierra Leone  Singapore  Slovak Republic The former Yugoslav Republic of Macedonia (FYROM)  Togo  Tonga  Trinidad and Tobago   Jamaica  Japan  Jordan  Kenya  Korea, Republic of  Kuwait, the State of  Kyrgyz Republic  Latvia  Lesotho  Liechtenstein  Lithuania  Luxembourg  Macao, China  Madagascar  Malawi  Malaysia  Maldives  Mali  Malta  Mauritania  Mauritius  Mexico  Moldova, Republic of  Mongolia  Montenegro  Morocco  Mozambique  Myanmar  Namibia  Nepal  Netherlands  New Zealand  Nicaragua Suriname  Swaziland  Sweden  Switzerland  Chinese Taipei  Tanzania  Thailand  157 Members

3 What is the purpose you ask?
To ensure that trade flows as smoothly, predictably and freely as possible. Offer forum for dispute settlement Provide a set of rules Forum for negotiations

4 Where did it all start? Came into existence in 1995
The first rounds dealt with tariff reductions but later included other areas such as anti-dumping and non-tariff measures. The last round — the Uruguay Round — led to the WTO’s creation. Where did it all start? Result of the final round of the General Agreement on Tariffs and Trade (GATT) negotiations

5 Decisions are made by the entire membership, which is typically by consensus.
The WTO’s rules are the result of negotiations between the members. Tell me more… Accounts for about 95% of world trade. The rules include dealing with trade in services, relevant aspects of intellectual property, dispute settlement, and trade policy reviews. Each country receives a guarantee that its exports will be treated fairly in other countries’ markets. Each promises to do the same for imports into its own market.

6 How is this agreement significant to Canada?
Canada’s economy depends on access to global markets for manufactured and agricultural goods, and natural resources How is this agreement significant to Canada? Canada also relies on globally-sourced inputs, technology and expertise to improve the productivity and competitiveness of Canadian companies in both domestic and global markets

7 What are the advantages ?
Provides more choice of products and qualities Promotes peace What are the advantages ? Trade stimulates economic growth Freer trade cuts the costs of living

8 What are some disadvantages?
Fundamentally Undemocratic Environmental Damage Developed countries benefit more than underdeveloped countries Job Loss Adverse Working Conditions Differences among Economists

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