...World Trade Organization Rhonda Bucasas MGT/448 September 17, 2014 Roy Brugman World Trade Organization What is the World Trade Organization? The World Trade Organization or WTO is the only global organization that handles with the regulations of trade between nations. There are two WTO agreements negotiated and signed by the majority of the world’s trading nations and approved in their parliaments. The main goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business ("World Trade Organization", 2014). When was the WTO founded, its location, membership and budget? The WTO was founded on January 1, 1995. According to the history of the WTO the Uruguay Round of trade negotiations managed under the aegis of the General Agreement on Tariffs and Trade or GATT led to the formation of the WTO in 1995. The location of the WTO is in Geneva, Switzerland. The WTO has 160 members since June 26, 2014, 117 of which are developing countries or separate territories, and all members who have joined have done so due to negotiations. Membership signifies a balance of rights and obligations along with the same privileges as the other members. Membership also gives the security that the trading rules provide. The WTO’s budget for 2013 was $197,203,900.00 but is on average around $180 million. The WTO develops most of its income for the annual budget from contributions that come from its Members. Other income is made by rental...
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...Introduction The World Trade Organization (WTO) was established January 1, 1995. Before WTO’s inception it was known as the General Agreement on Tariffs and Trade (GATT). However, GATT was not treaty, therefore “the provisions of GATT were binding only insofar as they are not inconsistent with a nation’s existing legislation” (Aaronson, n.d.). Many proponents of labor sometimes consider the WTO a very controversial organization. Many labor advocates feel that free trade has a negative impact on employment and the economy here in the United States. According the WTO website, “The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. Mission and Goal The mission of the WTO is to help producers of goods and services, exporters, and importers conduct their business. What does all that really mean in plain English, the main function of the WTO is to ensure that trade flows as smoothly, predictably and freely as possible. Structure and Architecture The WTO is comprised of several different councils and committees that make up its structure. Here are a list of the councils, and committees along with some of the responsibilities of each unit. The descriptions below are courtesy of 3.1 Structure of the World Trade Organization, Handbook. * The Ministerial Conference...
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...Professor Palma February 20, 2015 The World Trade Organization The World Trade Organization (WTO) is a global organization that was established on January of 1995. Its headquarters are in Geneva Switzerland. The WTO is one of the most influential international organizations that there is at the moment. The World Trade Organization deals with the rules of trade between nations and one of its main goals is to help producers of goods and services, exporters, importers conduct their business. There are 160 countries as of June 26, 2014 that are members of the WTO. One of the main functions of the WTO is to make sure that all the trade agreements and the declarations between its member’s countries are respected and when are told they need to do something they are doing it. The WTO also functions as a forum between its members so its members are able to talk about trade negotiations as well as it also helps them with any dispute resolution between different countries that are members of the WTO. WTO stands for The World Trade Organization in which like it was mentioned is an international organization where the members of this organization talk about trade negotiations. This organization is also a trade opening as well like it was also mentioned before it is where member governments talk about any disputes they have between other members of the organization in any sort of trade problems. Some of the problems that can be resolved in the WTO are that for some reason a member government...
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...World Trade Organization: The art of a little give and take Historical Overview of the WTO The World Trade Organization (WTO) was founded in 1995 as the predecessor to the General Agreements on Tariffs and Trade (GATT). The GATT was developed in 1947 on a provisional base after World War 2; it was not started as an international organization, but rather an inter-governmental treaty. Instead of being made up of participating members, such as the WTO, the GATT consisted of contracting parties. As stated in the preamble of the GATT-1947, the objectives of the contracting parties include ‘raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand ,developing the full use of the resources of the world and expanding the production and exchange of goods’(GATT, 1994a: 486). It continues by stating that reciprocal and mutually advantageous arrangements involving a substantial reduction of tariffs and other barriers to trade as well as the elimination of discriminatory treatment in international trade will contribute to the realization of these objectives. So in short the role of the GATT, was (and still is) to facilitate the reduction of barriers of trade and ensure greater equality with respect to conditions of market access for contracting parties. Through the negotiations made by the original 23 countries of the GATT, with additions of over 50 countries, came the charter for the International Trade Organization...
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...The University of Nottingham, Ningbo, China Division of International Business China and the World Trade Organization P13608 Module Outline Module Convenor: Dr Chieh Huang AB Room 379 chieh.huang@nottingham.edu.cn Office hours: Monday 10:30-12:30 10 credits TB329 Tuesday 2-4 PM 10 weekly two-hour lecture/seminars The course is taught by way of lecture/seminars which are two hours in length. The form of the lecture/seminars will be flexible, depending on the topic under consideration. Students are expected to participate fully in discussions in lecture/seminars and to have read all the set Essential Reading before class. Credits: Lecture Venue and Times Method of Delivery & Frequency on Class: Method and Criteria of Assessment: 100% Coursework (5000 words) Essay Submission Deadline is 4pm, Wednesday 27 November 2013 Topics: Please choose one area listed below and discuss its recent development in the context of China. You will need to narrow down your focus and set your own essay topic. 1. 2. 3. 4. 5. Non-market Economies in the WTO Energy Industry and the WTO Environment and the WTO Commentary on one WTO case involving China Self-selected topic upon approval (You are most welcome to decide a topic yourself. Once you decide to do so, however, you need to submit your topic and an one-paragraph abstract before 4pm 31 October. ) Module Aims: To give the students a broad knowledge of the multilateral trading system and China’s interaction with that system through...
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...The World Trade Organization and General Agreement on Tariffs and Trade The World Trade Organization (WTO) is the organization that discusses, negotiates and puts in place rules and regulations for trade between countries. The WTO maintains trade barriers and prevents the spread of disease and protects the environment (Understanding the WTO. 2011). The WTO is a forum where problems with traded go to be negotiated and sorted out by government officials. The General Agreement on Tariffs and Trade (GATT) is a set of multilateral trade agreements which works to abolish quotas, reduce tariff or taxes and trade without discrimination (Britannica.com 2016) The Evolution of WTO and Its Current Role Unlike GATT WTO is an organization that is equally represented by the countries that take part. According to Cateor, Gilly,& Graham 2013 the WTO has been the forum for successful negotiations between it’s members to open markets in telecommunications and information technology. WTO works with GATT to help settle trade disputes and gives members a guild line to follow when trading with other countries.There are currently 162 countries involved in the WTO (Wto.org 2016). The Evolution of GATT Through the GATT many countries have opened up their borders to trade, it has also helped reduce the tariff on goods sold in other countries (Cateor, Gilly,& Graham 2013). Over the years, the GATT has worked hard to open borders and allow business to trade freely with other countries without...
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...world trade organisation | SHIRISH SAWANT 321618 | world trade organisation | SHIRISH SAWANT 321618 | WORLD TRADE ORGANIZATION: INTRODUCTION: * WORLD TRADE ORGANIZATION (WTO) is an organization which was established with the motive of negotiations between the countries regarding trade problems. * WORLD TRADE ORGANIZTION was established on 1st January 1995 after the failed attempt made in 1948 to make INTERNATIONAL TRADE ORGANIZATION. * It is considered as the biggest reform of international trade. * From 1948, GENERAL AGREEMENT OF TARIFF AND TRADE (GATT) WTO has taken the rules for its system. * GENERAL AGREEMENT led to establishment of an unofficial international organization also known as GATT. * GATT changed through many rounds of negotiations, but the biggest round was Uruguay Round which almost lasted eight years from 1986-1994. * Which led to the formation of WORLD TRADE ORGANIZATION (WTO). * When GATT is concerned it only used to look after the trade in goods, but WTO looks after trade in services and in traded invention, creations and designs. * WTO is located in GENEVA, SWITZERLAND. * The membership of WTO is 160 countries till 26th June 2014. * The secretarial staff of WTO is 640. * The current Director- General of WTO is Roberto Azevedo. * When it comes to India, India is the member of WTO from 1st January 1995, and member of the GATT since 8th July 1948. FUNCTIONS OF WTO: ...
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...Agreement on Tariffs and Trade 1994 ------------------------------------------------- ------------------------------------------------- The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." It was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed in 1948 and lasted until 1993, when it was replaced by the World Trade Organization in 1995. The original GATT text (GATT 1958) is still in effect under the WTO framework, subject to the modifications of GATT 1994 ------------------------------------------------- ------------------------------------------------- GATT and the World Trade Organization ------------------------------------------------- In 1993, the GATT was updated (GATT 1994) to include new obligations upon its signatories. One of the most significant changes was the creation of the World Trade Organization (WTO). The 75 existing GATT members and the European Communities became the founding members of the WTO on 1 January 1995. The other 52 GATT members rejoined the WTO in the following two years (the last being Congo in 1997). Since the founding of the WTO, 21 new non-GATT members...
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...1. Introduction The World Trade Organisation (WTO) was formally made in January of 1995, and essentially supplanted the General Agreement on Tariffs and Trade (GATT), which had been in power subsequent to 1948, a couple of years after the Second World War (Study.com, 2015). The WTO is a multilateral establishment charged with directing rules for exchange among 145 official member countries. The United States and different members partaking in the Uruguay Round of Multilateral Trade Negotiations (1986-1994) required the arrangement of the WTO to encapsulate the new trade disciplines received amid those transactions (Wto.org,. 2015). This essay will firstly evaluate the roles of the WTO and then the challenges the World Trade Organisation face in the world economy and these how challenges are addressed. 2. The Role of the WTO in the Global Economy The World Trade Organisation exists to encourage the implementation, administration and operation, and additionally to facilitate the goals of the WTO agreements (Ruttley, P., Macvay, I. & George, C., 1998). Beyond this general purpose, the WTO has four particular functions. Firstly, to provide a meeting for arrangements among its members concerning their multilateral trade cognations in matters dealt with the accedences in the Annexes of the Marrakech Agreement for both current matters and any future understandings. The WTO may withal provide a forum for further negotiations among its members concerning their multilateral...
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...with certain unalienable rights, that among these are life, liberty and the pursuit of happiness” (ushistory.org., 2013). However, social injustice in America and around the globe is an ever present problem. I have personally witnessed in the hospital setting how the less fortunate are treated with disrespect and many times disregard. Social justice looks great on paper but will it ever be a reality? According to the mission statement of the World Trade Organization (WTO) (2013), the WTO primary purpose is to assist world trade flow with minimal undesirable side effects. The WTO is responsible for monitoring international trade contracts to keep such trade within specified limits (World Trade Organization, 2013). Between 1986 – 1994 the WTO established the Trade Related Aspects of Intellectual Property Rights (TRIPS) whose main premise is to monitor the rights of individual ideas and creativity (WTO, 2013). Since patents fall in the category of individual ideas and creativity, TRIPS job is to ensure that patents are protected when trade is involved. The issue of balancing patent protection for medication with assurance that people in developing countries have access...
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...The World Trade Organization (WTO) website defines itself as an organization as “born out of negotiations”. The WTO of today was created on January 1, 1995 and is comprised of 153 countries as of February 2011. The WTO’s mission statement centers around 3 agreements between its members: The General Agreement on Tariffs and Trade (GATT), the General Agreement on Trade in Services (GATS), and the Trade-Related Aspects of Intellectual Property Rights (TRIPS) (WTO, 2012). The WTO also serves the function of settling disputes between members and reviewing trade policy to ensure fairness and equity for all members. When our group chose this topic there were split in our opinions of whether the WTO should be abolished. There were sentiments among the group members that the negotiating style and methodology of the WTO was too cumbersome and bureaucratic to achieve decisions that were in the best interest of all parties involved. Other members of the group felt that the WTO is still a valid organization that offers small countries a voice when negotiating with larger more capable nations. The following narrative will outline the most compelling arguments for and against abolishment of the WTO. The negotiating style of the WTO is multilateral, which can be very time consuming and increase the difficulty for the parties involved to reach a deal. The nations involved in the negotiating have different interest while all parties have different productivity and limited resources. It...
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...The World Trade Organization (WTO) Introduction The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain." Subject to formal ratification of the three most recent members, the WTO has 157 members,[7] representing...
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...Lecture 5 - World Trade Organisation What is the WTO? The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. Who we are | Location: Geneva, Switzerland Established: 1 January 1995 Created by: Uruguay Round negotiations (1986-94) Membership: 157 countries on 24 August 2012 Budget: 196 million Swiss francs for 2011 Secretariat staff: 640 Head: Pascal Lamy (Director-General)Functions: • 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 | | There are a number of ways of looking at the World Trade Organization. It is an organization for trade opening. It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments try to sort out the trade problems they face with each other. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from...
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...[pic]World Trade Organization [pic] The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain." The WTO has 153 members representing more than 97% of total world trade and 30 observers, most seeking membership...
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...THE WORLD TRADE ORGANISATION The World Trade Organization (WTO) was established and incorporated in January 1st 1995 at the amendment of the General Agreement on Tariff and Trade (GATT) in 1994 with the aim of regulating international trade. The creation of this organization clearly underscored the acceptance and commitment of trade liberalization by most of the international communities. Upon signing and ratifying the WTO Agreement, each member state of the WTO committed itself through a series of agreements to ultimately liberalize its trade in goods, services and trade-related aspects of intellectual property rights. Each member state signed the WTO Understanding on Rules and Procedures Governing the Settlement of Disputes as well as the Agreement relating to the Trade Policy Review Mechanism (TPRM). This action required member states to periodically subject their national trade and economic policies for examination to ensure that their respective mandates are in keeping with the WTO’s commitments. (Strategic Plan of the Foreign Trade Division 2002). The expansion of trade has often played a significant role in the growth of the global economy since World War II, but it was not until the commencement of trade negotiations in the Uruguay Round in 1986, that multilateral trade deals tended to be limited to that of industrial countries. While developing countries benefited significantly from the growth in global trade, they were rarely active participants in the bargaining...
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