...Effect of WTO Trading Agreements on Employer-Employee Relationships in the UAE The World Trade Organization (WTO) was established in Geneva, Switzerland on January 1, 1995. The organization was created through the Uruguay Round negotiations. The organization has a total of 159 member countries (Who We Are, 2014). The WTO 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” (Who We Are, 2014). The “UAE is a member of the WTO since 10 April 1996” (UAE and the WTO, 2014). The membership of the UAE in the World Trade Organization has improved the trade relations of the country with various other countries. This in turn has affected the knowledge inflow from UAE’s trading partners. This is because those countries which have a favorable trading relationship with the UAE tend to have a large number of their workforce migrating to the UAE in search for work and business opportunities. For example, the positive trading relations between the UAE and India since the independence of the UAE in 1971 (Kader, 2013). This has led to an increased inflow of executives and workers to the UAE. Moreover, the country has also experienced a tremendous increase in foreign direct investment from Indian businessmen. Furthermore, this strong relationship...
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...Date: 30/05/2014 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...
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...The World Trade Organization (WTO) is an international body whose purpose is to promote free trade by persuading countries to abolish import tariffs and other barriers. As such, it has become closely associated with globalization. The WTO is the only international agency overseeing the rules of international trade. It polices free trade agreements, settles trade disputes between governments, and organizes trade negotiations. WTO decisions are absolute and every member must abide by its rulings. So, when the US and the European Union are in dispute over goods, it is the WTO, which acts as judge and jury. WTO members are empowered by the organization to enforce its decisions by imposing trade sanctions against countries that have breached the rules. Based in Geneva, the WTO was set up in 1995, replacing another international organization known as the General Agreement on Tariffs and Trade (Gatt). Gatt was formed in 1948 when 23 countries signed an agreement to reduce customs tariffs. The WTO has a much broader opportunity than Gatt. Whereas Gatt regulated trade in merchandise goods, the WTO also covers trade in services, such as telecommunications and banking, and other issues such as intellectual property rights. Membership of the WTO now stands at 153 countries (as at July 2008). China formally joined the body in December 2001 after a 15-year battle. Russia wants admission, but must first convince the EU and US that it has reformed business practices. (Daniels...
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...Objectives of the Accession to the WTO……………………4 Advantages and Disadvantages of the Accession to the WTO………5 Conditions of Accession to the WTO……………………………………...6 * Terms and Conditions of Russia’s Accession to the WTO * Unfavorable Institutional Environment * Russia Does Not Have Effective Mechanism to Support Domestic Business * Phytosanitary Standards: Good Conditions and Poor Implementation * Sources of Growth of Exports to Russia Are Limited Overall Assessment of Impact of Accession to the WTO…………….10 * Missed Opportunities for Growth * The Overall Picture Conclusion ……………………………………………………………………13 References.……………………………………………………………………15 Introduction Russian economy can effectively develop only in close cooperation with international market of goods and services, in spite of huge potential and resources. It also required by the state reforms inside the country. However, World Trade Organization (WTO) states the rules of game on the international market, on time of international globalization. WTO unify about 160 countries and covers more than 95% of turnover of international trade. Russia should enter to WTO considering strategic perspective. This is only way for both Russia government and business. However, rules and norms of WTO create new organizational and legal environment of functioning, which on its own way creates mixed reaction. Based on this Russia needs deployed and targeted preparation for enter to WTO, without political rush, without...
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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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...Discriminatory liberalization Customs Union Economics of European Integration Lecture 1: Economics of preferential liberalization Thomas Blondiau (Center for Economic Studies, KU Leuven) Louvain Institute for Ireland in Europe, January 2012 Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? What economic forces are driving the spread of European integration? Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions that we will answer in this section Why was/is the EU so successful? What economic forces are driving the spread of European integration? We use a simplifying (NICNIR) economic framework Thomas Blondiau (Center for Economic Studies, KU Leuven) Preferential liberalization Discriminatory liberalization Customs Union Introduction Graphical analysis Welfare Introduction Questions...
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...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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...Multilateral Trading System and Climate Change The Climate change has always been a big concern regarding to WTO multilateral trading system and climate change. Climate change is the biggest sustainable development challenge the international community has had to tackle to date. Measures to address climate change need to be fully compatible with the international community's wider ambitions for economic growth and human advancement. It is a challenge that transcends borders and requires solutions not only at national levels but at the international level as well. The WTO is one part of the architecture of multilateral cooperation. It provides a framework of disciplines to facilitate global trade and serves as a forum to negotiate further trade openness. Freer trade is not an end in itself; it is tied to crucially important human values and welfare goals captured in the WTO's founding charter, the Marrakesh Agreement. Among these goals are raising standards of living, optimal use of the world's resources in accordance with the objective of sustainable development, and protection and preservation of the environment. The issue of climate change is not part of the WTO's ongoing work program and there are no WTO rules specific to climate change. However, the WTO is relevant because climate change measures and policies intersect with international trade in a number of different ways. First, trade openness can help efforts to mitigate and adapt to climate change, for example by promoting...
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...International Trade The topic on international trade can be very complex, and thus this paper is dedicated to some the aspects and issues involved in international trade. As an overview, this paper will include discussions on absolute and comparative advantage, factors which effect import quota, factors which effect tariffs, along with WTO and the role it has in international trade. The first benefit that can be gained from international trading is the opportunity of specialization. This means that a country can focus on producing the goods that they are best at, and can also sell it in a cheaper price. Afterwards, the host country can then trade this product to another which can hopefully offer a more expensive product. This kind of transaction involves comparative advantage. The main goal in international trading is basically produce a unique product that can be exchanged with a better and more expensive product from another country. The product to be exchanged should be something that is more costly for a country to produce on their own. This would mean that trading is still the more practical move. If almost all countries specialize on a certain product, then the entire world will never run out of high quality goods that will be revolving from country to country. Comparative and Absolute Advantage Comparative advantage and absolute advantage are easily associated when dealing with economic activities such...
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...Legal Aspects Of International Trade Non-tariff Barriers to International Trade #0735817 1. In the Xia case, if the WTO were to rule in favor of Brazil, which of the WTO trade agreements would contain the justification and why? According to the case, because of the some unofficial speculations of using hazardous material in Xia's goods, that are manufactured in China, Brazil banned them to be imported to their country, until further investigation and tests, that were being performed to examine the health risks. Because of fear of other countries negligence and ban on the Chinese product, country took this issue in the WTO to be resolved. For ruling the issue or justification towards Brazil WTO will use Technical Barriers of Trade Agreement, as this agreement intends to the technical regulations and standards to meet up with required assessment as the procedures of conformity do not unnecessarily act as the barrier in international trade. This agreement recognize that the members are not breaching the regulatory objectives which can harm national security, life of animals and humans and environment. Reasons for this trade agreement:- * Technical Regulations:- Product has to meet the requirements that have been set up, under which all the documents need to be provided where all the product characteristics have been mentioned along with terminology, marking packaging and all other aspects which applies to the production method, and as per the unconfirmed report of...
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...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 have joined and 29 are currently negotiating membership. There are a total of 157 member countries in the WTO, with Russia and Vanuatu being new members as of 2012. Of the original GATT members, Syria[5][6] and the SFR Yugoslavia has not rejoined the WTO. Since FR Yugoslavia, (renamed to Serbia and Montenegro and with membership negotiations later split in two), is not...
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...SUBJECT- MANAGERIAL ECONOMICS TOPIC- IMPACT OF WTO ON INDIAN ECONOMY FOR THE PAST 10 YEARS. NAME - NITESH SHUKLA DIV - C ROLL.NO -324332 INTRODUCTION WTO is basically an internationally recognized global organization which clearly defines the role of trade between the nations and to avoid conflict over it. The primary goal of WTO is to help various intermediaries conduct their business. It also aims to improve the welfare of the people of the member countries. CONCEPTS: * WTO is basically a place where trade problems are sorted out with each other which the countries face as a whole and also with each other. * The rules or better say agreements which are made in WTO are scrutinized and negotiated by the bulk of the world’s trading nations before being passed. * WTO not just supports carrying out trade in a peaceful way but also supports maintaining of trade barriers. Ex: protecting consumers and nation as a whole. * WTO works upon the rules framed with the participation of all the member countries with the prime focus on settlement of disputes. * WTO has a characteristic feature of ‘member-driven’ wherein...
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...formation of trade agreements as well as to settle trade disputes through contract and arbitration. The WTO itself asserts that it and its predecessor, the General Agreement on Tariffs and Trade, has contributed to the 16 fold increase in world trade volume since the post WW2 era. Criticisms have been leveled against the WTO from non-governmental organizations, watchdog groups, and government officials from developing nations. Some claim WTO committee membership is too exclusive and centered around wealthy nations. Others criticize the WTO for allowing rich countries to keep high subsidies and import tariffs on agriculture while negotiating for newer and developing member nations to open their agriculture markets. Furthermore, still more critics claim the WTO ignores issues of labor rights and environmental protection due to its bias toward large corporations as some say is evident in the WTO's stance on intellectual property and blocking of the generic versions of pharmaceuticals to be traded in developing nations. This article attempts to estimate the effect of the WTO on international trade by comparing the bilateral trade flows of 175 countries over fifty years. The two data sets are taken from standard sources such as the International Monetary Fund, CIA, and WTO to name a few. The equation used is a standard formula used by the North American Free Trade Agreement and the WTO to evaluate the effectiveness of bilateral trade agreements: Two countries are represented by...
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...International Relations: Understanding the Effects of the GATT and the WTO on World Trade Judith L+ Goldstein, Douglas Rivers, and Michael Tomz Abstract The General Agreement on Tariffs and Trade ~GATT! and the World Trade Organization ~WTO! have been touted as premier examples of international institutions, but few studies have offered empirical proof+ This article comprehensively evaluates the effects of the GATT0WTO and other trade agreements since World War II+ Our analysis is organized around two factors: institutional standing and institutional embeddedness+ We show that many countries had rights and obligations, or institutional standing, in the GATT0WTO even though they were not formal members of the agreement+ We also expand the analysis to include a range of other commercial agreements that were embedded with the GATT0WTO+ Using data on dyadic trade since 1946, we demonstrate that the GATT0WTO substantially increased trade for countries with institutional standing, and that other embedded agreements had similarly positive effects+ Moreover, our evidence suggests that international trade agreements have complemented, rather than undercut, each other+ When and how do international institutions promote cooperation? Few questions are as fundamental to international relations or as salient for world leaders+ Due to the contributions of Keohane and others, we now have sophisticated theories about the emergence and effects of international institutions, but empirical...
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...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...
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