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Anita

Ghanshyam

Greshma

Ojash

Rohan

Ranjana

hussain

http://www.wto.org/index.htm

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WTO- IN BRIEF

GATT-The general agreement on

tariff and trade was formed on 1948.

Signed by 23 countries. Secretariat staff: 625

Decided to form it in Geneva conference

1994.

Official Formation-January 1, 1995.

Signed by 128 countries.

Headquarter- Geneva, Switzerland.

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Membership -153 member states. (on 23 July 2008)

Director General- Pascal Lamy.

Meeting every two years. A global organization dealing with rules of trade between

nations.

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To promote and ensure the international trade in themember countries with the mantra of

LIBERELISATION, PRIVATISATION &

GLOBALISATION

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Principles of the trading

system Non-Discrimination

The most favored nation (MFN) rule.

The national treatment policy.

More competitive.

Binding and enforceable commitments.

Transparency. Safety valves WTO.

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Difference Between GATT and WTO

GATT

GATT was ad hoc and

provisional.

GATT had contracting parties.

GATT system allowed existing

domestic.

GATT was less powerful, dispute

settlement system was slow and

less efficient, its ruling could beblocked.

WTO

WTO and its agreements are

permanent

WTO has members

WTO does not permit

WTO is more powerful than

GATT, dispute settlement

mechanism is faster and more

efficient, very difficult to blockthe rulings.

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The GATT trade rounds

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GENEVA ROUND OFGATT

April 1947 7 months

23 countries

Signing of GATT,

45,000 tariffconcessions affecting

$10 billion of trade

ANNECY ROUND OFGATT

April 1949

5 months 13 countries

Countries exchanged

some 5,000 tariff

concessions

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TORQUAY ROUND OF GATT

September 1950

8 months 38 countries

Countries exchanged some

8,700 tariff concessions,

cutting the 1948 tariff levelsby 25%

GENEVA II ROUND OFGATT

January 1956

5 months 26 countries

admission of Japan $2.5

billion in tariff reductions

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DILLON ROUND OFGATT

September 1960 11 months

26 countries

Tariff concessions

worth $4.9 billion ofworld trade

KENNEDY ROUND OFGATT

May 1964 37 months

62 countries

Anti-dumping Tariff

concessions worth$40 billion of world

trade

WTO

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September 1973

74 months

102 countries

non-tariff measures, "framework" agreements

Tariff reductions worth more than

$300 billion dollars achieved

TOKYO ROUND

GATT

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September1986

87 months

123 countries

Tariffs, non-tariff

measures,rules, services,intellectualproperty,

disputesettlement,

textiles,

agriculture,creation ofWTO, etc

creation of WTO,agricultural subsidies,

agreement to allowfull access fortextiles

and clothing fromdeveloping countries,and extension of

intellectual propertyrights.

WTO

URUGUAY ROUND OF

GATT

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Doha Round- Doha summit

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Achievements

The system encourages good government

Governments are shielded from lobby

The basic principles make life more efficient

Trade stimulates economic growth

Trade raises incomes

It provides more choice of products and qualities

Freer trade cuts the costs of living

Rules make life easier for all

Disputes are handled constructively

The system helps promote peace

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Criticisms.

The rich get richer and the poor get poorer.

Smaller countries have less negotiation power.

Domestic support and export subsidies for agricultural

products in the rich countries remain high

The most non-transparent of international

organizations.

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Bibliography & Webliography

WTOwto.org

Google.com

Wikipedia.com

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THANK

YOU