Presentation on theme: "WTO head quarter based in Geneva. WTO (Definition) The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international."— Presentation transcript:
WTO (Definition) The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade established under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), WikipediaWorld liberalizeinternational tradeMarrakech AgreementGeneral Agreement on Tariffs and Trade WTO Came into existence on 1-1-1995 with the conclusion of Uruguay Round Multilateral Trade Negotiations at Marrakesh on 15 th April 1994, to : WTO Came into existence on 1-1-1995 with the conclusion of Uruguay Round Multilateral Trade Negotiations at Marrakesh on 15 th April 1994, to :
Transparent, free and rule-based trading system Transparent, free and rule-based trading system Provide common institutional framework for conduct of trade relations among members Provide common institutional framework for conduct of trade relations among members Facilitate the implementation, administration and operation of Multilateral Trade Agreements Facilitate the implementation, administration and operation of Multilateral Trade Agreements Rules and Procedures Governing Dispute Settlement Rules and Procedures Governing Dispute Settlement Trade Policy Review Mechanism Trade Policy Review Mechanism Concern for LDCs Concern for LDCs Concern on Non-trade issues such as Food Security, environment, health, etc. Concern on Non-trade issues such as Food Security, environment, health, etc.
WTO- Aims Fair and market oriented trading system Commitments on support and protection Operationally effective GATT Rules & Disciplines Equitable Trade Reform process Greater opportunities and Terms of Access to developing countries Concern for LDCs and NFIDCs Concern on Non-trade issues such as Food Security, environment, health, etc.
Is the highest organ of the WTO meets at least once every two years. It is normally composed of all the ministers of trade of the members of the WTO. The ministerial conference has supreme authority over all matte rs, Organizational Structure of the WTO Ministerial Conference
The Dispute Settlement Body . The Dispute Settlement Body (DSB) of the World Trade Organization makes decisions on trade disputes between governments that are adjudicated by the Organization.World Trade Organizationtrade disputes Is Made up of all member governments, usually represented by ambassadors or equivalent Dispute settlement is regarded by the World Trade Organization as the central pillar of the multilateral trading systemWorld Trade Organizationtrading system
Cont’d The dispute settlement body:- Administers the WTO Dispute Settlement System Establishes panels Adopts panel and Appellate Body reports Maintains surveillance of implementation Non-implementation? Authorizes retaliatory measures
General Council is composed of representatives of all the members The General Council is in session between the meetings of the Ministerial Council. This is the real engine of the WTO and has all the powers of the Ministerial Council when that body is not in operation. The General Council also acts as the Dispute Settlement Body and the Trade Policy Body
The Trade Policy Review Body (TPRB ) The WTO General Council meets as the Trade Policy Review Body to undertake trade policy reviews of Members under the TRPM. The TPRB is thus open to all WTO Members. At the first meeting each year it elects its own Chairperson for the year from among the Member representatives. To stimulate debate in the TPRB a discussant is chosen from the membership in advance of each review meeting. They act on their own responsibility, not as representatives of their governments.
The Services Council, its Committees and other subsidiary bodies The Council for Trade in Services operates under the guidance of the General Council Is responsible for overseeing the functioning of the General Agreement on Trade in Services (GATS). It’s open to all WTO members, and can create subsidiary bodies as required.
GATT and the Goods Council The General Agreement on Tariffs and Trade (GATT) covers international trade in goods. The workings of the GATT agreement are its responsibilities It is made up of representatives from all WTO member countries. The Goods Council has 10 committees dealing with specific subjects (such as agriculture, market access, subsidies, anti- dumping measures and so on). Again, these committees consist of all member countries. Also reporting to the Goods Council are a working party on state trading enterprises, and the Information Technology Agreement (ITA) Committee.
Council for Trade-Related Aspects of Intellectual Property Rights Its objective is to ensure effective and appropriate protection for trade-related intellectual property rights The TRIPS Agreement sets minimum standards of protection for copyrights and related rights, trademarks, geographical indications (GIs), industrial designs, patents, integrated circuit layout designs, and undisclosed information. The TRIPS Agreement also establishes minimum standards for the enforcement of intellectual property rights (IPRs) to avoid copyright piracy and trademark counterfeiting, in criminal actions.