The World Trade Organization (WTO) came into being on January 1, 1995 replacing the General Agreement on Tariffs and Trade (GATT). The WTO oversees international trade and resolves trade disputes between member nations. It aims to ensure free and fair trade globally through agreements covering trade in goods, services and intellectual property. The WTO currently has 153 member countries and works to lower trade barriers through negotiations while providing a framework for implementing trade agreements and monitoring national trade policies.
The document summarizes the International Monetary Fund (IMF), including its creation, mandate, functions, governance, and lending policies. The IMF was established in 1944 at the United Nations Monetary and Financial Conference to promote international monetary cooperation and stability. It monitors global economic and financial conditions and provides loans to countries experiencing economic difficulties. The IMF is governed by its 185 member countries and aims to foster global economic growth, employment, and trade.
World Trade Organization - WTO - International Business - Manu Melwin Joymanumelwin
The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
This presentation talks about the introduction, scope, benefits, types and a lot more about International Organisation.
Hope you like the ppt.Good Luck :)
*content referred from another source*
BIMSTEC is the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation formed in 1997 between 7 countries in South Asia and Southeast Asia. It aims to foster economic cooperation through projects related to trade, investment, technology, and infrastructure development. While BIMSTEC has collaborated on projects like transport infrastructure and developing human resources, its achievements have been limited due to a lack of priority and commitment from member states like India. Moving forward, BIMSTEC hopes to reduce poverty and protect biodiversity through initiatives in areas like education, traditional medicine, and trade.
Trading blocks are groups of countries that work towards reducing trade barriers between members. The document discusses the major trading blocks: the European Union, NAFTA, OPEC, ASEAN, SAARC, and MERCOSUR. It provides details on the founding, objectives, and provisions of these blocks. The European Union aims to create a common market without trade barriers between its 27 member states. NAFTA eliminated trade barriers between the US, Canada, and Mexico, creating the world's largest free trade area. OPEC coordinates policies to secure fair oil prices for producers and consumers.
The IMF was created in 1944 to help countries maintain stable international monetary systems and provide temporary financial assistance. It aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth. The IMF gains funds through membership fees paid by member countries and uses those funds to provide loans to countries experiencing economic troubles.
Regional grouping involves countries within a geographic area joining together for mutual benefit. The European Union began in the 1950s with six founding members and has since grown to include 28 member states. Key objectives of the EU include establishing a single market, customs union, and common policies around issues like agriculture, transportation, and social and economic goals. Members benefit from free trade and movement of goods, services, capital and people across borders, as well as increased economic and political influence on the global stage.
The document discusses various types of regional trade agreements including free trade areas, customs unions, and common markets. It describes key regional agreements such as ASEAN, SAARC, NAFTA, the EU, and TPP. The main objectives of regional trade agreements are to obtain economic benefits, pursue non-economic goals, ensure market access, and improve bargaining strength. Advantages include increased economic growth, technological innovation, investment, and trade. The document also discusses concepts like trade creation, trade diversion, rules of origin, and the relationship between regionalism and multilateral trade agreements under the WTO.
The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. It deals with rules of trade between nations regarding agriculture, textiles, banking, telecommunications and more. The WTO aims to ensure trade flows are smooth, predictable and free from barriers through agreements negotiated by member countries. It also provides a framework for resolving disputes between members.
The document provides an overview of the World Trade Organization (WTO) including its origins from the General Agreement on Tariffs and Trade (GATT), objectives, relationship with India, dispute settlement process, progress made in trade liberalization, pending issues, and opportunities for development through global trade. It also briefly outlines some recent WTO events and India's proposals to revive negotiations.
The document discusses the World Trade Organization (WTO). It provides information on the formation of the WTO including that it was established in 1995 and replaced the GATT. The objectives of the WTO are to liberalize trade, promote world trade, ensure benefits for developing countries, increase competitiveness and employment, and establish rules for an open trading system. It has 153 member countries and agreements cover goods, services, intellectual property, and dispute settlement.
The Asian Development Bank (ADB) was founded in 1966 and is headquartered in Manila, Philippines. It aims to foster economic growth, reduce poverty, and improve living standards in Asia and the Pacific through loans, technical assistance, and grants for infrastructure, health, education, and other development projects. The ADB is owned by 67 members, with Japan and the United States holding the largest voting shares. It focuses on sectors like agriculture, energy, transport, and social services to overcome challenges such as lack of access to water and sanitation across Asia.
The document discusses a study conducted on the United Nations Conference on Trade and Development (UNCTAD). It provides objectives of the study which include understanding UNCTAD's objectives, areas of work, meetings, relationship with other agencies, and advantages. It then provides an introduction on increasing globalization and challenges faced by developing countries. It outlines UNCTAD's history, organization structure, main areas of work, objectives, meetings, and the New International Economic Order concept.
The World Bank is an international financial institution established in 1944 to finance post-war reconstruction and development projects in member countries. It has since expanded to a group of five development institutions focused on reducing poverty. The World Bank provides loans, grants, and technical assistance to developing countries for projects related to education, health, infrastructure, and other sectors. It is governed by member countries but run day-to-day by executive staff and directors.
Trade Blocs in International Marketing - European Union
What is a trade bloc? Why they are formed?
Trade blocs around the world
Types of trading bloc / Levels of economic integration
Trade Bloc - EU
Benefits and Challenges of EU
United Nations Conference on Trade and Development (UNCTAD)Harshit Ahuja
UNCTAD is an intergovernmental organization established in 1964 with 193 member states headquartered in Geneva, Switzerland. It has 400 staff members and its main functions are to promote trade between developed and developing countries, formulate policies on international trade and economic development issues, review and coordinate trade-related activities within the UN system, and serve as a center for trade and development policies. Its organizational structure includes a ministerial conference, secretariat, trade and development board, executive committee, and divisions focused on international trade and infrastructure development.
This document provides an overview of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), which includes 7 countries. It began working in sectors like technology, energy, transport, and tourism, and later expanded to include agriculture, public health, poverty alleviation, and others. Each sector is led by one of the member countries who coordinates projects and monitoring progress. Popular areas of cooperation discussed include trade, tourism sites, agriculture, fisheries, cultural exchange, environment, disaster management, and efforts to alleviate poverty and combat transnational crime and terrorism in the region.
The major motto of this ppt is to ignite entrepreneurship skills and manifestation of corporate skills among the students lacking in entrepreneurial skills.
Human Resource is the unique and valuable assets of the organization. But selecting the right person right time and right place plays a vital role for the organization.But before going for choosing the right number of people, we need to decide how to plan what number of people is required for the organization. in this present PPT i have highlighted the the role of HRP and its importance.
This document discusses the need for employee training and different training methods. It begins by outlining reasons for training like improving performance, updating skills, and meeting organizational goals. It then describes different types of on-the-job and off-the-job training methods. On-the-job methods include job instruction, apprenticeships, job rotation, and committee assignments. Off-the-job methods include lectures, simulations, case studies, and role playing. The document concludes by noting training needs to be assessed and tailored to organizational objectives.
The document summarizes the key outcomes of the 2013 Bali Ministerial Conference of the WTO, known as the Bali Package. It consisted of three agreements: the Trade Facilitation Agreement to streamline customs procedures, duty-free access for Least Developed Countries, and the Peace Clause regarding food stockpiling subsidies. India initially opposed the facilitation agreement due to concerns that developed countries could use it to pressure India to lower its agricultural subsidies. However, India gained concessions by linking the agreement to the Peace Clause, which prevents disputes over developing country subsidies for staple crops until a permanent solution is reached by 2017. The package aims to boost global trade but critics argue it primarily benefits large corporations and developed nations.
Entrepreneurship Development PPT IntroductionMadhusudhanGoud
Entrepreneur is the person who can change the fate of the environment and also society at large. in this PPT i explained the introduction of entrepreneurship and its importance.
The document discusses the selection process in organizations. It defines selection as the process of choosing the most suitable candidate for a job from available applicants. The key steps in the selection process discussed are job analysis, developing job specifications, recruitment, preliminary screening interviews, tests and evaluations, core interviews, reference and background checks, and making a final job offer. The document also discusses different types of interviews like preliminary, selection and decision-making interviews conducted during this process.
The document provides information about the World Trade Organization (WTO). It notes that the WTO was established on January 1, 1995 and succeeded the General Agreement on Tariffs and Trade (GATT). The WTO aims to supervise and liberalize international trade between its 153 member countries. It has an annual budget of 196 million Swiss francs and 629 staff members. The WTO seeks to promote free trade and resolve trade disputes between countries.
The World Trade Organization (WTO) was established in 1995 to replace the General Agreement on Tariffs and Trade (GATT). It provides a framework for negotiating and formalizing international trade rules and settling disputes between member nations. The WTO has nearly 150 member countries and its core principles include non-discriminatory treatment between trading partners, freer trade through negotiated tariff reductions, predictability through binding and transparency of trade commitments, and fair competition through agreed rules. While the WTO aims to liberalize trade, it allows developing countries flexibility in implementation and supports continued negotiation of trade issues. Some criticisms argue it favors commercial interests over other issues, but the WTO disputes these claims and emphasizes its role in facilitating trade to boost growth
The World Trade Organization is seeking deals on fish subsidies and COVID-19 vaccines as global trade tensions rise due to the war in Ukraine. Over 60 WTO members support a new method for calculating allowed food subsidies that accounts for inflation and uses recent reference prices instead of old 1986-1988 prices. Developing countries are negotiating longer transition periods of 5-7 years or up to 25 years to implement agreements. The WTO is also trying to finalize an agreement to end subsidies for overfishing and reach a compromise on a vaccine intellectual property waiver.
The World Trade Organization is seeking deals on fish subsidies and COVID-19 vaccines as global trade tensions rise due to the war in Ukraine. Over 60 WTO members support a new method for calculating allowed food subsidies that accounts for inflation and uses recent reference prices instead of old 1986-1988 prices. Developing countries are negotiating longer transition periods of 5-7 years or up to 25 years to implement agreements. The WTO is also trying to finalize an agreement to end subsidies for overfishing and reach a compromise on a vaccine intellectual property waiver.
International Business Dynamics by Nagarjun Reddy module 3PNagarjunReddyReddy
The document discusses the World Trade Organization (WTO), regional trade blocks, and India's adoption of liberalization, privatization, and globalization (LPG) policies. It provides background on the WTO, including that it was established in 1995 and provides a framework for global trade rules. It also describes regional trade blocks and strategic alliances between countries. In addition, it outlines India's LPG policies introduced in 1991 to liberalize and open its economy, including the goals, components (liberalization, privatization, globalization), impacts, and examples of privatization in India.
World Trade Organization- Brief OverviewKashyap Shah
How and WHY GATT changed to WTO ?
What are the various functions & objectives of WTO.
Some of the key characteristics of WTO Agreements
From India's Perspective- Advantages & Disadvantages
this will help us all understand the principles of the WTO and how they already work to eliminate discrimination, increase predictability, openness, etc.
The General Agreement on Tariffs and Trade (GATT) was created after World War II to promote international trade by reducing trade barriers through negotiated tariff reductions. While intended to be a formal international organization, GATT remained an agreement. Its purposes of reducing trade barriers and promoting standards of living have been subsumed by the World Trade Organization. The WTO establishes global trade rules through member consensus and resolves trade disputes. Its aims are to increase trade and provide a platform for trade negotiations.
Vskills international trade and forex professional sample materialVskills
The World Trade Organization (WTO) supervises and liberalizes international trade according to agreements signed by member governments. It provides a framework for negotiating trade agreements and resolving disputes. The WTO aims to promote open trade for the benefit of all through principles like non-discrimination, transparency, and binding commitments. It currently has 153 member countries and seeks to facilitate global trade through negotiations like the Doha Round.
Lecture 5 ib 404 institutional framework for international businessMahir Jawad
The WTO is run by its member governments through councils and committees made up of all members. Major decisions are made by consensus of members. The highest authority is the Ministerial Conference which meets every two years. Between conferences, the General Council handles day-to-day work. Three broad councils oversee trade in goods, services, and intellectual property. Subsidiary committees address specific issues. The WTO system is based on principles of non-discrimination, freer trade through negotiation, predictability, fair competition, and encouraging development.
The document discusses the World Trade Organization (WTO). It describes the WTO as an international organization that oversees and liberalizes international trade according to agreements negotiated and signed by most of the world's trading nations. The WTO seeks to help trade flow smoothly and predictably between nations by administering trade agreements, settling disputes, and assisting developing countries, among other functions. Key principles of the WTO's trading system include non-discrimination, reciprocity, binding and enforceable commitments, and transparency.
The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. It has 153 member countries. The WTO oversees agreements between members, provides a framework for negotiating trade agreements, and acts as a forum for resolving disputes. Its goal is to ensure trade flows freely, predictably, and beneficially between nations.
The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. It officially commenced in 1995, replacing the General Agreement on Tariffs and Trade. The WTO deals with regulation of trade between countries and provides a framework for negotiating trade agreements as well as resolving disputes. It aims to liberalize trade based on five principles: non-discrimination, reciprocity, binding commitments, transparency, and safety valves to restrict trade in limited circumstances. Decisions are made by consensus among member governments. The WTO also oversees a dispute settlement process to enforce adherence to trade agreements.
The document discusses the General Agreement on Tariffs and Trade (GATT) and its replacement by the World Trade Organization (WTO). GATT was established in 1947 to promote international trade by reducing trade barriers between member nations. In 1995, GATT was replaced by the WTO, which expanded the scope of international trade rules to include services, intellectual property, foreign investment, and established a stronger dispute resolution process. The WTO aims to facilitate the free flow of goods, services, and ideas across borders through multilateral trade agreements and a rules-based system.
The document provides an overview of the World Trade Organization (WTO). It discusses that the WTO was established in 1995 as the successor to GATT and is based in Geneva. The WTO aims to liberalize trade through agreements covering goods, services, and intellectual property. These agreements require transparency and set procedures for resolving disputes between members. The WTO works to promote open trade for the benefit of all members, including developing countries. It has over 150 member countries representing over 97% of global trade.
The document provides an overview of the World Trade Organization (WTO). It discusses that the WTO is an international organization that oversees and liberalizes global trade. The WTO aims to improve welfare by administering trade agreements, facilitating trade negotiations, and settling trade disputes. The document outlines the key WTO agreements and principles of non-discrimination, predictability, competitiveness, and benefits for developing countries. It also discusses the impact of WTO on India, including increased exports and foreign investment as well as developmental issues.
The document presents an overview of the World Trade Organization (WTO). It discusses the objectives, history, structure, principles, agreements, and role of the WTO. The WTO aims to help trade become more smooth, fair, free and predictable through administering trade agreements and resolving disputes between member nations. It also provides special provisions and assistance to developing countries. The WTO's role is to promote open, fair and undistorted global competition through trade liberalization and economic reforms.
The document presents an overview of the World Trade Organization (WTO). It discusses the objectives, history, structure, principles, agreements, and role of the WTO. The WTO aims to help trade become more smooth, fair, free and predictable through administering trade agreements and resolving disputes between member nations. It also provides special provisions and assistance to developing countries. The WTO's role is to promote open, fair and undistorted global competition through trade liberalization and economic reforms.
The World Trade Organization (WTO) deals with global trade rules between nations. It has three main functions: 1) serving as a negotiating forum for trade agreements, 2) establishing a set of rules for international commerce through negotiated agreements, and 3) providing a place to settle trade disputes between member governments. The overriding goal of the WTO is to help trade flow freely while preventing undesirable side effects, which is important for economic development.
The World Trade Organization (WTO) is the international body that oversees global trade rules. Its key functions are to ensure trade flows freely, predictably, and smoothly. The WTO agreements provide the legal framework for global trade and guarantee members' trade rights and access to foreign markets in a transparent, non-discriminatory manner. The WTO also provides a dispute settlement process to peacefully resolve trade conflicts among members.
With the advent of dynamic business environment challenges triggers rigorous changes in the present context. Unless organizations unleash substantial resources,finds tough to survive. Among the resource, human resources are the critical and valuable asset of the organization and to face the intensified competition with your rivalries, manpower have to craft with tools and techniques. Business Etiquettes plays a vital role not only enhancing the employees morale at the workplace but also project them as brand advocates.
Importance of rural entrepreneurship in rural areas and how to overcome the curb of migration from rural to urban areas. opportunities for village people in transforming village citizens into corporate nation citizens.
The document discusses entrepreneurial strategy for new market entry. It defines new entry as offering a new product, offering an existing product in a new market, or creating a new organization. Entrepreneurial strategy involves both generating and exploiting new entry opportunities in a way that maximizes the benefits of newness while minimizing costs. The key aspects of entrepreneurial strategy discussed are assessing new entry opportunities, developing an entry strategy, and managing newness through the creation of a new organization.
The 1991 Industrial Policy in India aimed to liberalize and globalize the Indian economy. Key objectives included removing restrictions on foreign direct investment and domestic entrepreneurs. Major reforms included relaxing industrial licensing, allowing more foreign investment and technology, revising public sector policy, and reducing monopolistic restrictions. The policy reduced the number of industries requiring licenses from 25 to 6, and allowed up to 51% foreign equity in priority sectors. It also aimed to increase efficiency and competitiveness of public sector firms through portfolio reviews and greater autonomy. The reforms integrated India's economy with global markets and increased private participation.
This document discusses foreign direct investment (FDI) in India. It defines FDI and other related terms like foreign institutional investors, depository receipts, and foreign currency convertible bonds. It outlines different forms of FDI like joint ventures, acquisitions, and wholly owned subsidiaries. The document also discusses factors that influence FDI, reasons for companies to invest abroad, and costs and benefits of FDI to both home and host countries. It provides examples of sectors where FDI is prohibited in India and explains the process for an Indian company to receive FDI.
The document discusses the business environment and its key components. It states that each business operates within a unique environment that influences and is influenced by the business. It also notes that facets of business are changing more rapidly in the new economy compared to earlier years. The document outlines the micro and macro environment, including factors such as consumers, competition, and technological, economic, cultural, social, and political conditions that comprise the overall business environment.
This document defines key terms and characteristics related to entrepreneurship. It discusses that an entrepreneur is someone who starts a business by taking on risk and uncertainty. The document outlines characteristics of successful entrepreneurs like passion for their business, customer focus, perseverance, and a tolerance for risk. It also provides examples of entrepreneurs like Bill Gates, Michael Dell, and Larry Ellison. The functions of an entrepreneur are identified as generating ideas, conducting market research, raising funds, recruiting employees, and taking on business operations and risk. Qualities like hard work, leadership, analytical skills, innovation, and self-confidence are described.
HR plays an important role in mergers and acquisitions by defining the new organizational architecture and identifying parts that need restructuring. The HR department must conduct an audit to assess what needs to change, and identify methods to renovate architectural components. HR also needs to set clear priorities like promoting teamwork and implementing pay-for-performance programs. During strategic evaluations, HR should provide data on its return on investment and be rated by customers to assess how its initiatives support business strategy goals.
APM event held on 9 July in Bristol.
Speaker: Roy Millard
The SWWE Regional Network were very pleased to welcome back to Bristol Roy Millard, of APM’s Assurance Interest Group on 9 July 2024, to talk about project reviews and hopefully answer all your questions.
Roy outlined his extensive career and his experience in setting up the APM’s Assurance Specific Interest Group, as they were known then.
Using Mentimeter, he asked a number of questions of the audience about their experience of project reviews and what they wanted to know.
Roy discussed what a project review was and examined a number of definitions, including APM’s Bok: “Project reviews take place throughout the project life cycle to check the likely or actual achievement of the objectives specified in the project management plan”
Why do we do project reviews? Different stakeholders will have different views about this, but usually it is about providing confidence that the project will deliver the expected outputs and benefits, that it is under control.
There are many types of project reviews, including peer reviews, internal audit, National Audit Office, IPA, etc.
Roy discussed the principles behind the Three Lines of Defence Model:, First line looks at management controls, policies, procedures, Second line at compliance, such as Gate reviews, QA, to check that controls are being followed, and third Line is independent external reviews for the organisations Board, such as Internal Audit or NAO audit.
Factors which affect project reviews include the scope, level of independence, customer of the review, team composition and time.
Project Audits are a special type of project review. They are generally more independent, formal with clear processes and audit trails, with a greater emphasis on compliance. Project reviews are generally more flexible and informal, but should be evidence based and have some level of independence.
Roy looked at 2 examples of where reviews went wrong, London Underground Sub-Surface Upgrade signalling contract, and London’s Garden Bridge. The former had poor 3 lines of defence, no internal audit and weak procurement skills, the latter was a Boris Johnson vanity project with no proper governance due to Johnson’s pressure and interference.
Roy discussed the principles of assurance reviews from APM’s Guide to Integrated Assurance (Free to Members), which include: independence, accountability, risk based, and impact, etc
Human factors are important in project reviews. The skills and knowledge of the review team, building trust with the project team to avoid defensiveness, body language, and team dynamics, which can only be assessed face to face, active listening, flexibility and objectively.
Click here for further content: https://www.apm.org.uk/news/a-beginner-s-guide-to-project-reviews-everything-you-wanted-to-know-but-were-too-afraid-to-ask/
Life of Ah Gong and Ah Kim ~ A Story with Life Lessons (Hokkien, English & Ch...OH TEIK BIN
A PowerPoint Presentation of a fictitious story that imparts Life Lessons on loving-kindness, virtue, compassion and wisdom.
The texts are in Romanized Hokkien, English and Chinese.
For the Video Presentation with audio narration in Hokkien, please check out the Link:
https://vimeo.com/manage/videos/987932748
This is an introduction to Google Productivity Tools for office and personal use in a Your Skill Boost Masterclass by the Excellence Foundation for South Sudan on Saturday 13 and Sunday 14 July 2024. The PDF talks about various Google services like Google search, Google maps, Android OS, YouTube, and desktop applications.
PRESS RELEASE - UNIVERSITY OF GHANA, JULY 16, 2024.pdfnservice241
The University of Ghana has launched a new vision and strategic plan, which will focus on transforming lives and societies through unparalleled scholarship, innovation, and result-oriented discoveries.
2. TRADE
Trade involves the transfer of
the ownership of goods or services from one
person or entity to another in exchange for other
goods or services or for money. Possible
synonyms of "trade" include "commerce" and
"financial transaction". A network that allows
trade is called a market.
11/10/2015
2
V.MadhsudhanGoud,AssistantProfessor,
GPCET
3. TRADE BARRIERS
Trade barriers are government-induced restrictions
on international trade. The barriers can take many forms,
including the following:
Tariffs
Non-tariff barriers to trade
Import licenses
Export licenses
Import quotas
Subsidies
Voluntary Export Restraints
Local content requirements
Embargo
Currency devaluation
Trade restriction
11/10/2015
3
V.MadhsudhanGoud,AssistantProfessor,
GPCET
4. A tariff is a tax on imports or exports (an international
trade tariff).
1.Advolerem tariff
2.Specific Tariff
Non-tariff barriers to trade (NTBs) or sometimes called
"Non-Tariff Measures (NTMs)" are trade barriers that
restrict imports.
An import license is a document issued by a national
government authorizing the importation of certain goods
into its territory. Import licenses are considered to
be non-tariff barriers to trade when used as a way to
discriminate against another country's goods in order to
protect a domestic industry from foreign competition.
Each license specifies the volume of imports allowed, and
the total volume allowed should not exceed the quota.
11/10/2015
4
V.MadhsudhanGoud,AssistantProfessor,
GPCET
5. A subsidy is a form of financial aid or support
extended to an economic sector (or institution,
business, or individual) generally with the aim of
promoting economic and social policy. Although
commonly extended from Government, the term
subsidy can relate to any type of support - for
example from NGOs or implicit subsidies. Subsidies
com: direct (cash grants, interest-free loans) and
indirect (tax breaks, insurance, low-interest loans,
depreciation write-offs, rent rebates)
11/10/2015
5
V.MadhsudhanGoud,AssistantProfessor,
GPCET
6. A voluntary export restraint (VER) or voluntary
export restriction is a government-imposed limit on
the quantity of some category of goods that can be
exported to a specified country during a specified
period of time.
Typically VERs arise when industries
seek protection from competing imports from
particular countries. VERs are then offered by the
exporting country to appease the importing country
and deter it from imposing explicit (and less
flexible) trade barriers.
11/10/2015
6
V.MadhsudhanGoud,AssistantProfessor,
GPCET
7. An embargo (from the Spanish embargo,
meaning hindrance, obstruction, etc. in a
general sense, a trading ban in trade
terminology and literally "distraint" in
juridic parlance) is the partial or complete
prohibition of commerce and trade with a
particular country or a group of countries.
11/10/2015
7
V.MadhsudhanGoud,AssistantProfessor,
GPCET
8. WHAT IS THE WORLD TRADE
ORGANIZATION?
“The World Trade Organization is
‘member-driven’, with decisions taken by General
agreement among all member of governments and it
deals with the rules of trade between nations at a
global or near-global level. But there is more to it
than that.”
9. They deal with: agriculture, textiles and clothing,
banking, telecommunications, government purchases,
industrial standards and product safety, food sanitation
regulations, intellectual property, and much more.
The WTO agreements are lengthy and complex
because they are legal texts covering a wide range of
activities.
10. WTO: THE BEGINNINGS/ HISTORY
The World Trade Organization (WTO) came into
being on January 1st 1995. It was the outcome of the
lengthy (1986-1994) Uruguay round of GATT
negotiations. The WTO was essentially an extension
of GATT.
It extended GATT in two major ways. First GATT
became only one of the three major trade agreements
that went into the WTO (the other two being the
General Agreement on Trade in Services (GATS) and
the agreements on Trade Related Aspects of
Intellectual Property Rights (TRIPS)).
12. CONTI...
Second the WTO was put on a much sounder
institutional footing than GATT. With GATT the
support services that helped maintain the agreement
had come into being in an ad hoc manner as the need
arose. The WTO by contrast is a fully fledged
institution (GATT also was, at least formally, only an
agreement between contracting parties and had no
independent existence of its own while the WTO is a
corporate body recognized under international law).
13. FACT FILE OF WTO
Location Geneva, Switzerland
Established 1 January 1995
Created by Uruguay Round negotiations
(1986-94)
Membership 153 countries on 23 July 2008
Budget 189 million Swiss francs
for 2009
Secretariat staff 625
Head Pascal Lamy (Director-
General)
15. WHY WTO?
• To arrange the implementation,
administration and operations of
multilateral (involving three or more
participants) and Plurilateral trade
agreements (power which shared between
different countries)
• To arrange the forum for deliberations for
the member nations in regard to their
multilateral trade relations in issues deal
with under the agreements
16. CONTI...
• To provide a framework for implementing
of the results arising out of the
deliberations (long and care full
agreements/consideration) which taken
place at ministerial conference level
• To manage the created understanding on
rules and procedure governing the
settlement of disputes
17. CONTI...
To manage effectively and efficiency the
trade policy review mechanism (TRIM)
To create more together relationship with
all nations in respect of global economic
policy-making, it would cooperate with
the IMF and the world bank & its
affiliated Organisations.
18. FUNCTIONS OF WTO
Administering WTO trade agreements
Forum for trade negotiations
Handling trade disputes
Monitoring national trade policies
Technical assistance and training for developing countries
Cooperation with other international organizations
19. PRINCIPLES OF WTO
The basic principles of the WTO (according to the WTO):
Trade Without Discrimination
1. Most-favoured-nation (MFN): treating other people
equally Under the WTO agreements, countries cannot
normally discriminate between their trading partners. Grant
someone a special favour (such as a lower customs duty rate for
one of their products) and you have to do the same for all other
WTO members.
2. National treatment: Treating foreigners and locals
equally Imported and locally-produced goods should be
treated equally — at least after the foreign goods have entered
the market. The same should apply to foreign and domestic
services, and to foreign and local trademarks, copyrights and
patents.
20. CONTI...
Freer trade: gradually, through negotiation
Lowering trade barriers is one of the most obvious means of
encouraging trade. The barriers concerned include customs
duties (or tariffs) and measures such as import bans or quotas
that restrict quantities selectively
Predictability: through binding and transparency
Sometimes, promising not to raise a trade barrier can be as
important as lowering one, because the promise gives
businesses a clearer view of their future opportunities. With
stability and predictability, investment is encouraged, jobs are
created and consumers can fully enjoy the benefits of
competition — choice and lower prices. The multilateral
trading system is an attempt by governments to make the
business environment stable and predictable.
21. CONTI...
Promoting fair competition
The WTO is sometimes described as a “free trade” institution,
but that is not entirely accurate. The system does allow tariffs
and, in limited circumstances, other forms of protection. More
accurately, it is a system of rules dedicated to open, fair and
undistorted competition.
Encouraging development and economic reform.
The WTO system contributes to development. On the other
hand, developing countries need flexibility in the time they
take to implement the system’s agreements. And the
agreements themselves inherit the earlier provisions of GATT
that allow for special assistance and trade concessions for
developing countries.
23. ROLE OF WTO
The main goal of WTO is to help the trading industry to
become smooth, fair, free and predictable. It was organized to
become the administrator of multilateral trade and business
agreements between its member nations. It supports all
occurring negotiations for latest agreements for trade. WTO
also tries to resolve trade disputes between member nations.
Multi-lateral agreements are always made between several
countries in the past. Because of this, such agreements become
very difficult to negotiate but are so powerful and influential
once all the parties agree and sign the multi-lateral agreement.
WTO acts as the administrator. If there are unfair trade
practices or dumping and there is complain filed, the staff of
WTO are expected to investigate and check if there are
violations based on the multi-lateral agreements.
24. TRIMS, AND TRIPS OF WTO
1) Agreement on Trade-Related Investment Measures (TRIMs)
TRIMs refers to certain conditions or restrictions imposed by a
governments in respect of foreign investment in the country
The agreement on TRIMs provides that no contracting party
shall apply any TRIM which is inconsistent with the WTO
Articles.
2)Agreement on Trade-Related Aspects of Intellectual Property
Rights (TRIPS)
The Agreement on Trade Related Aspects of Intellectual
Property Rights (TRIPS) is an international agreement
administered by the World Trade Organization (WTO) that sets
down minimum standards for many forms of intellectual
property (IP) regulation as applied to nationals of other WTO
Members
25. CONTI...
It was negotiated at the end of the Uruguay Round of the
General Agreement on Tariffs and Trade (GATT) in 1994.
TRIPS contains requirements that nations' laws must meet for
copyright rights, including the rights of performers, producers
of sound recordings and broadcasting organizations;
geographical indications, including appellations of origin;
industrial designs; integrated circuit layout-designs; patents;
monopolies for the developers of new plant varieties;
trademarks; trade dress; and undisclosed or confidential
information.
specifies enforcement procedures, remedies, and dispute
resolution procedures.
26. THE RELEVANCE OF WTO
• The system helps promote peace.
• The system allows disputes to be handled constructively.
• A system based on rules rather than power makes life
easier for all.
• Freer trade cuts the cost of living.
• It gives consumers more choice and a broader range of
qualities to choose from.
• Trade raises incomes.
Trade stimulates economic growth and that can be good
news for employment
The basic principles make the system economically more
efficient, and they cut costs.
27. Doha Round
The Doha Development Round or Doha Development
Agenda (DDA) is the current trade-negotiation round of
the World Trade Organization (WTO) which commenced
in November 2001 under then director-general Mike
Moore. Its objective is to lower trade barriers around the
world, and thus facilitate increased global trade.
The Doha Round began with a ministerial-level meeting
in Doha, Qatar in 2001. Subsequent ministerial meetings
took place in Cancún, Mexico (2003), and Hong Kong
(2005). Related negotiations took place in Paris, France
(2005), Potsdam, Germany (2007), and Geneva,
Switzerland (2004, 2006, 2008);
Progress in negotiations stalled after the breakdown of
the July 2008 negotiations over disagreements concerning
agriculture, industrial tariffs and non-tariff barriers,
services, and trade remedies.
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V.MadhsudhanGoud,AssistantProfessor,
GPCET
28. DUMPING AND ANTI DUMPING MEASURES
It is the process of selling the product at below the on
going market price and /or the price below the cost of
production .
Types of Dumping:
1.Intermittent Dumping: when the production of a
product is more than the demand in the home country,
the stocks piled up even after sales. In such case, the
producer sells the remaining stock in abroad at low price
without reducing the price in domestic countries.
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V.MadhsudhanGoud,AssistantProfessor,
GPCET
29. 2.Persistent Dumping: The monopolist sells the remaining
production in foreign countries at a low price
continuously.
3.Predatory Dumping: The monopolists sells the product in
a foreign market at a low price initially, after some time
they increase the rate when the competitors leave the
market.
Objectives of Dumping:
1.Enter the foreign market
2.Sell surplus production
3.Develop the trade relations
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V.MadhsudhanGoud,AssistantProfessor,
GPCET
30. EFFECTS OF DUMPING
Importing Country:
1.Decline in sales and profits
2.Changes in tastes and preference of people
3.Increase the deficit of BoP.
Exporting country:
1.Consumers pay higher price
2.Finds good market for their goods and services
3.Earns foreign exchange
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V.MadhsudhanGoud,AssistantProfessor,
GPCET