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BY VIKAS PANDEY

(MB11B34)

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INTRODUCTIONThe World Trade Organization (WTO) is the onlyglobal international organization dealing with therules of trade between nations. At its heart are the

WTO agreements, negotiated and signed by the bulkof the worlds trading nations and ratified in theirparliaments. The goal is to help producers of goodsand services, exporters, and importers conduct theirbusiness.

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INTRODUCTION (Contd..)

FORMATION-: JAN 1, 1995

HEADQUARTERS-: CENTRE WILLIAM

RAPPERD, SWITZERLAND MEMBERSHIP-: 153 MEMBER COUNTRIES

OFFICIAL LANGUAGES-: ENGLISH, FRENCH,SPANISH

DIRECTOR-GENERAL-: PASCAL LAMY(2005-uptonow)

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HISTORY General Agreement on Tariffs and Trade (GATT) was

WTOs predecessor, established on 1948.

WTO replaced GATT on JANUARY 1, 1995 under theMarrakesh Agreement.

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OBJECTIVES OF WTO Ensuring full employment

Raising standards of living

Ensuring growth of real income and demand Expanding production and trade

Sustainable development

Protection of the environment

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FUNCTIONS OF WTO Administer and implement the WTO agreements

Forum for negotiations

Administer Settlement of Disputes Administer Trade Policy Review Mechanism

Technical Assistance to developing countries

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PRINCIPLES OF THE TRADING

SYSTEM Non-Discrimination

Reciprocity

Binding and enforceable commitments Transparency

Safety valves

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ORGANISATIONAL STRUCTURE Council for trade in goods

Council for trade-related aspects of intellectual

property rights. Council for trade in services

Trade negotiations committee

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DECISION MAKING The WTO describes itself as "a rules-based, member-

driven organization all decisions are made by themember governments, and the rules are the outcomeof negotiations among members". The WTOAgreement foresees votes where consensus cannot bereached, but the practice of consensus dominates theprocess of decision-making.

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MINISTERIAL CONFERENCES The topmost decision making body of the WTO is the

Ministerial Conference, which usually meets every twoyears.

It brings together all members of the WTO, all ofwhich are countries or customs unions.

The Ministerial Conference can take decisions on all

matters under any of the multilateral tradeagreements.

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MINISTERIAL

CONFERENCES(Contd)> Geneva, 15-17 December 2011> Geneva, 30 November - 2 December 2009> Hong Kong, 13-18 December 2005> Cancn, 10-14 September 2003> Doha, 9-13 November 2001> Seattle, November 30 December 3, 1999> Geneva, 18-20 May 1998

> Singapore, 9-13 December 1996

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DISPUTE SETTLEMENT In 1994, the WTO members agreed on the

Understanding on Rules and Procedures Governingthe Settlement of Disputes (DSU) annexed to the"Final Act" signed in Marrakesh in 1994.

Dispute settlement is regarded by the WTO as thecentral pillar of the multilateral trading system, and asa "unique contribution to the stability of the globaleconomy".

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ACCESSION AND MEMBERSHIP The process of becoming a WTO member is unique to

each Applicant country, and the terms of accession aredependent upon the country's stage of economic

development and current trade regime. The processtakes about five years, on average, but it can last moreif the country is less than fully committed to theprocess or if political issues interfere. As is typical of

WTO procedures, an offer of accession is onlygiven once consensus is reached among interestedparties. At present 153 countries are member of WTO

with 31 observer countries.

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DIRECTORS-GENERAL

The Directors-General of the WTO have been:Pascal Lamy( France), 2005Supachai Panitchpakdi(Thailand), 20022005Mike Moore, 19992002Renato Ruggiero, 19951999Peter Sutherland, 1995

The Directors-General of the precursororganization,GATT, were:-

Peter Sutherland, 19931995Arthur Dunkel, 19801993Olivier Long, 19681980Eric Wyndham White, 19481968

http://en.wikipedia.org/wiki/GATThttp://en.wikipedia.org/wiki/GATT

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THANK YOU