...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...
Words: 915 - Pages: 4
... I Executive Summary This report briefly assesses the World Trade Organisation (WTO), and in particular, the Doha Round, which has been the longest running trade liberalization round in the history of the GATT/WTO era. Launching in November, 2001 in the wake on the September 11 Terrorist attacks on the USA, it had the explicit aim to conclude a broad deal to facilitate development through trade and thereby better integrate the more disadvantaged into the global economy. The conclusion of the Doha Round however has been much harder to conclude than any other trade round in the history of the WTO for many reasons that will be highlighted below. Table of Contents I Executive Summary 1 II Introduction 3 III The World Trade Organisation 3 IV Other Rounds of the World Trade Organisation 3 V The Doha Round 4 Negotiations: geographical indications —multilateral register for wines and spirits 4 TRIPS, biological diversity and traditional knowledge (Doha paragraph 19) 4 Geographical indications — ‘extension’ 4 VI Problems With Concluding the Doha Round 4 The Single Undertaking Method: 5 Changed Geopolitical Situations: 5 Trade Liberalisation and Non-agricultural Market access (NAMA): 5 Agriculture: 5 VII Conclusion 6 VIII References 6 II Introduction The effort to launch a new round of multilateral trade negotiations in the late 1990s was turbulent in two ways. First, the WTO, with its broader mandate became a focal point for protests...
Words: 1898 - Pages: 8
...World Trade Organisation History At the United Nations conference held at Geneva in 1947, twenty three countries including United States of America signed General Agreement on Tariffs and Trade (GATT). During the same year, a charter was put on the table for setting up, within the United Nations Organisation, of a new agency to be called International Trade Organisation (ITO). Fifty nations signed the charter in Havana the following year, but it was never subsequently ratified by the required number of countries. The purpose of the agreement was to promote international trade free of barriers in the aftermath of World War II, and to draw up proposals for the implementation of policies based on those principles set in the agreement. It covered all the issues like tariffs, quotas, taxes, international commodity agreements and whatever was considered to have a bearing on the development of international trade, and was based on policies of non-discrimination and tariff reductions. GATT has been expanded and updated through a series of multi-year conferences. The most famous have been the Kennedy Round (1963-1967), the Tokyo Round (1973-1979), and the Uruguay Round (1986-1994). The Uruguay Round ended with the decision to dissolve GATT and establish the more powerful and more institutionalised World Trade Organization (WTO) in 1995. The WTO replaced GATT as an international organization, but the General Agreement still exists as the WTO’s umbrella treaty for trade in goods. Trade...
Words: 5427 - Pages: 22
...Working Title: An analysis of the effect of WTO on textile industry in India and China from 2000-2012. Pattern of Organisation: Tropical Order Statement of Purpose: The purpose of this report is to analyse the effects of WTO (World Trade Organisation) on Textile Industry in order to assist the International garment traders to improve export performance of Textile and Garment Industry in India and China from 2000-2012. Report Structure 1.0 INTRODUCTIONBackground informationStatement of purposeScopingOutline2.0OVERVIEW OF MAIN PLAYERS 2.1 WTO AND ITS HISTORY 2.2 HISTORY OF THE TEXTILE INDUSTRY 2.3 HISTORY OF WTO ACTIONS AND THE GARMENT INDUSTRY UP TO 20003.0 Impacts of WTO on Textile Industry since 2000 3.1Impacts of WTO on Textile Industry In India 3.2Impacts of WTO on Textile Industry in China 3.3Other Nations4.0 SOLUTIONS TO THE GARMENT INDUSTRY’S CONCERNS 4.1Exports of Indian Textile Industry 4.2 4.35.0 5.1 5.2 5.3 | Brief Content with ReferencesThe WTO is the only global international organization dealing with the rules of trade between nations. The goal of the WTO is to help producers of good and services, exporters and importers conduct their business.The Textile Industry primarily concerned with the production of yarn, cloth and the subsequent design or manufacture of clothing and their distribution.The purpose of this report is to analyse the effect of WTO (World Trade Organisation) on Textile Industry in order to assist the...
Words: 938 - Pages: 4
...Preparing For Structural Reform in the WTO Thomas Cottier World Trade Institute, Berne September 26, 2006 I. Structure-Substance Pairing Negotiations at the WTO are mainly driven by domestic constituencies and governments. They define outcomes. The structure of the organisation is instrumental to this goal, and does not in itself decide on outcomes. Nevertheless, the structure and operation of the WTO is not without impact. The ways by which decisions are prepared and made do affect outcomes and results. This is common to all law, domestic and international law. Process and substance are inextricably intertwined. We call this substance-structure pairing. Effective global governance requires open attitudes towards multilateralism, shared perceptions on objectives, but also clear structures on all layers of government, local, national, regional and global. It is equally true for the WTO. While international trade regulation is almost exclusively treaty-based, the process in the WTO often deviates from written rules and is mainly shaped by custom and diplomatic practices developed under GATT 1947. Except for dispute settlement, it is not clearly framed in institutional terms. Difficulties to achieve agreement and to make progress among the currently 149 Members of the WTO are partly due to these practices. Except for the General Council and the Ministerial Conference, no body is mandated and authorised to address procedural issues in a comprehensive manner, coming forward with...
Words: 2596 - Pages: 11
...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...
Words: 3456 - Pages: 14
...Definition of 'World Trade Organization - WTO' An 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. History : The main building, known as the Centre William Rappard, was constructed on an estate which was gradually formed by the union of a number of plots of land between 1755 and 1893. In 1785, construction began on the Villa Rappard, the house that still stands next to the main WTO building and today houses a Montessori school. In 1921, the Swiss Confederation acquired the estate and offered it to the League of Nations, which designated the site for construction of a headquarters for the International Labour Office. Both bodies had been created in 1919 with the signing of the Treaty of Versailles, which formally ended World War I. In 1923, an architectural competition was launched and the commission to design the ILO headquarters was offered to Swiss architect George Epitaux from Lausanne. His design was based on that of classical Florentine villas, with an interior courtyard, a grand entrance and a sweeping staircase off the main reception area. Construction began in 1923 and the building was in-augurated on June 6, 1926. [pic] The interior of the building was enhanced by donations from many countries, in-cluding murals in tiles and paint depicting various aspects of labour, sculpted wooden doors, elaborate fountains and exotic trees...
Words: 1071 - Pages: 5
...respect to Faroe Island on 20 August 2013. EU states that this regulation is made in response to the non-sustainable actions conducted by Faroe Island. Article 5 para 1 and 2 of the regulation set that Atlanto-Scandian Herring or mackerel caught or produced by Faroe Island are prohibited in EU regions; and shippings with the Faroe Island flag or shippings from other country contain any goods specified in paragraph 1 are prohibited to use Union ports. Not surprisingly, a dispute in relation to the economical measurement implemented by European Union (EU) has been requested a consultation by Faroe Islands on behalf of the kingdom of Denmark. Faroe Islands claiming that the enforcement action by EU breached the General Agreement on Tariffs and Trade 1994and negatively affected its export position. Question 1 As the most basic concept of GATT, Art: 1 making sure that all contracted parties can be treated with the same benefits provided by the multilateral trading system. Therefore, failure to offer same advantages in respect of Atlanto-Scandian Herring or mackerel or it’s like products to other parties to Faroe Island may result in a breach of Art:1 for EU. According to Indonesia — Autos, two criteria need to be satisfied to conclude that EU has breached Art:1: (a) the advantages of like products fall within the scope of Art: 1(b) are not applied to Faroe Island unconditionally. Undeniably, Faroe Island can no longer be entitled to the advantages including privilege of importation and...
Words: 3025 - Pages: 13
...Objective of the study: To begin to understand how Globalization has shaped the world population and how the so called third world countries can benefit from the ever growing interconnectedness and interdependence of the trade and commerce which is inseparable from just about every aspect of our lives – what we eat, what we wear, what kind of houses we live in, how we treat our sick & ill or how we show off. To be more precise, we aim to understand the problems facing us in the International Trade & commerce by looking at WTO principles and framework and what we need to do to address these issues so as to deliver more benefit to us. Introduction: WTO (World Trade Organisation) is an organisation that supervises the international trade. The organisation replaced the GATT in 1995. Broadly speaking, WTO deals with issues related to regulation of trade between participating member counties by providing the members with a framework for negotiations, trade agreements and dispute / conflict resolution process. These frameworks are evolved from earlier negotiations under the GATT and are ratified by the governments of the member countries. The member countries are 159 in number, so it can be safely said that WTO is at the forefront of the global trade and commerce and is spearheading a campaign for the global economic development. The organisation has its headquarters in Geneva, Switzerland and the Director General is Mr. Pascal Lemy. Research Methodology: This research...
Words: 3425 - Pages: 14
...examine the role of the WTO on the world trade (20 marks) World Trade Organisation is the only global international organisation dealing with the rules of trade between nations. The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business, therefore allowing nations to experience the gains from specialization and trade that the theory of comparative advantage will arise. The WTO is the important agreement because they are legal texts covering a wide range of activities such as agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards and product safety, food sanitation regulations, intellectual property, and much more. The WTO tends to based on rules rather than power and thus it creates the more fair and open international trade, The WTO's agreements apply to everyone. Rich and poor countries have an equal right to challenge each other in the WTO' dispute settlement procedure. The WTO agreements are negotiated by all members, are approved by consensus and ratified by nations' parliaments, they hold a great abiding power to all involved nations. Secondly, The WTO's global trade system lowers trade barriers and by the same token reduces the cost of production, lowers the prices of goods and services, and ultimately, lowers the cost of living. Trade, when it is allowed to flow freely, gives consumers more choice and brings related benefits. Furthermore, the WTO agreement creates opportunities...
Words: 543 - Pages: 3
...ENVIRONMENT “ The Contrasting Perspectives and Interests of Developed and Developing Coutries with Respect to Global Trade Liberalisation” by HAKAN AYDIN London MAY 2010 International trade is one of the international political economy’s most controversial subjects. The trade structure is the set of relationships between and among states, international organisations, international businesses and nongovernmental organisations that together influence and manage international rules and norms related to what is produced, where, by whom, how, for whom and at what price. Together with the international financial, technological and security structures, trade links states and other actors, furthering their interdependence, which benefits but also generates tension between and among these actors and different grroups within them. International trade is a process that occurs when goods and services cross national boundaries in exchange for money or the goods and services of another nation. Trade is always political and the most debated topic in international political economy. In the absence of a world government, cross border trade is always subject to rules that must be politically negotiated among nations and sovereign in their own realm but not outside their borders. (Kuttner Robert and Knopf, 1991, p:157) International trade ties countries together, and in so doing, generates significant economic, political and social interdependence. However...
Words: 3792 - Pages: 16
...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: ...
Words: 1411 - Pages: 6
...more just and democratic global governing institutions, exploring the approach of a more formal system of collective decision-making by the three main actors in global society: governments, civil society and the business sector. The thesis seeks to make a contribution by presenting for discussion an addition to the system of international governance that is morally justified and potentially practicable, referred to as ‘Collective Management’. The thesis focuses on the role of civil society, analysing arguments for and against a role for civil society that goes beyond ‘soft power’ to inclusion as voting members in inter-governmental decision-making structures in the United Nations (UN) system, the Bretton Woods institutions, the World Trade Organisation...
Words: 127847 - Pages: 512
...involves processes that transcend geographic and national boundaries, • these processes are of an economic nature, • there are political implications and considerations, and • socio cultural factors are also impacted. The issue of Globalisation has become a contentious one in recent years. Note the violent demonstrations in Seattle in 1999 and subsequent demonstrations by anti-globalisation groups such as S11. However there are many advocates of globalisation who support the ideals of free trade and free moving economies whose fate is left to market forces. The purpose of this paper is to examine some of the main issues associated with Globalisation and the current debate of these topics. Given the scope of available information is quite voluminous the case for and against will be presented for three main topics.- Americanisation of Culture, Increasing World Poverty and Environmental Damage. The paper will then examine some of the changes that have occurred in our world as a result of Globalisation in terms of technology, the changing...
Words: 2371 - Pages: 10
...WTO: World Trade Organization Objectives of WTO: Objectives of WTO Important objectives of WTO are mentioned below: (i) to implement the new world trade system as visualised in the Agreement; (ii) to promote World Trade in a manner that benefits every country; (iii) to ensure that developing countries secure a better balance in the sharing of the advantages resulting from the expansion of international trade corresponding to their developmental needs; (iv) to demolish all hurdles to an open world trading system and usher in international economic renaissance because the world trade is an effective instrument to foster economic growth; (v) to enhance competitiveness among all trading partners so as to benefit consumers and help in global integration; (vi) to increase the level of production and productivity with a view to ensuring level of employment in the world; (vii) to expand and utilize world resources to the best; (viii) to improve the level of living for the global population and speed up economic development of the member nations. Functions of WTO Functions of WTO The former GATT was not really an organisation; it was merely a legal arrangement. On the other hand, the WTO is a new international organisation set up as a permanent body. It is designed to play the role of a watchdog in the spheres of trade in goods, trade in services, foreign investment, intellectual property rights, etc. Article III has set out the following...
Words: 1160 - Pages: 5
