304 Unit 1 VARIOUS TRADE ORGANISATIONS Shahnawaz Group.ppt
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VARIOUS TRADEORGANISATIONSREGIONAL & INTERNATIONAL AGREEMENTS
MMA 3RD SEMESTER
RETAIL
Shahnawaz Islam
Ghousia IslamShreya Banerjee
Farhin
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WHAT IS INTERNATIONAL TRADE?
It Is The Exchange
Of Goods &
ServicesBetween
Countries.
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Trade organizations are
voluntary associations between
countries, formed with thepurpose of liberalizing or
opening trade between those
countries. This is done with the
intention of providing economicbenefit to all countries involved.
WHAT ARE TRADE ORGANISATIONS
FOR?
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The General Agreement on Tariffs and
Trade (GATT) is a multilateral agreement
regulating international trade. It was
negotiated during the UN Conference onTrade and Employment and was the
outcome of the failure of negotiating
governments to create the International
Trade Organisation (ITO).
General Agreement on Tariffs and Trade
(GATT)
GATT was signed in 1947 and lasted until 1993, when it was
replaced by the World Trade Organisation in 1995.
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Name YearCountrie
sSubjects covered Achievements
GenevaApril
194623 Tariffs
Signing of GATT, 45,000 tariff concessions
affecting $10 billion of trade
AnnecyApril
194913 Tariffs
Countries exchanged some 5,000 tariff
concessions
Torquay September 1950
38 Tariffs Countries exchanged some 8,700 tariffconcessions, cutting the 1948 tariff levels by 25%
Geneva IIJanuary
195626 Tariffs, admission of Japan $2.5 billion in tariff reductions
DillonSeptembe
r 196026 Tariffs
Tariff concessions worth $4.9 billion of world
trade
Kennedy May 1964 62 Tariffs, Anti Dumping Tariff concessions worth $40 billion of world trade
TokyoSeptembe
r 1973102
Tariffs, non-tariff measures,
"framework" agreements
Tariff reductions worth more than $300 billion
dollars achieved
Uruguay
Septembe
r 1986 123
Tariffs, non-tariff measures, rules,
services, intellectual property,
dispute settlement, textiles,
agriculture, creation of WTO, etc.
The round led to the creation of WTO, and
extended the range of trade negotiations, leading
to major reductions in tariffs (about 40%) and
agricultural subsidies, an agreement to allow fullaccess for textiles and clothing from developing
countries, and an extension of intellectual
property rights.
DohaNovembe
r 2001141
Tariffs, non-tariff measures,
agriculture, labour standards,
environment, competition,
investment, transparency, patentsetc.
The round is not yet concluded.
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Discriminated against developing
countries Agriculture was treated as a special.
Though developed countries removed
majority of tariff barriers yet some others
still remained.
US and EEC had concluded several
bilateral , discriminatory and restrictive
arrangements outside GATT rules. It lacked enforcing mechanism
GATT rules devised half a century ago had
outlived their utility.
Reason for GATT failure
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The World Trade
Organization (WTO) is an
organization that intends to
supervise and liberal
international trade. The
organization officially
commenced on January 1, 1995under the Marrakech Agreement,
replacing GATT.
World Trade Organization (WTO) :
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Trade negotiations
Implementation andmonitoring
Dispute settlement
Building trade capacity
To promote World Trade in a
manner that benefits every
country
To enhance competitiveness
among all trading partners so
as to benefit consumers and
help in global integration.
Objectives of WTO :
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The Agreement on Trade Related
Investment Measures (TRIMs) are
rules that apply to the domestic
regulations a country applies to
foreign investors, often as part of
an industrial policy . The agreementwas agreed upon by all members of
the World Trade Organization .
It is the name of one of the four principal legal agreements of
the WTO trade treaty.
TRIMs are rules that restrict preference of domestic firms and
thereby enable international firms to operate more easily within
foreign markets.
TRIMS:
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The Agreement on Trade Related Aspects
of Intellectual Property Rights (TRIPS) isan international agreement administered
by the World Trade Organization (WTO)
that sets down minimum standards for
many forms of intellectual property (IP)regulation as applied to nationals of other
WTO Members.
The TRIPS agreement introduced intellectual property law into the
international trading system for the first time and remains the most
comprehensive international agreement on intellectual property to
date.
TRIPS:
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United Nations Conference on Trade and
Development(UNCTAD)
The United Nations Conference
on Trade and
Development (UNCTAD) was
established in 1964 as apermanent intergovernmental
body. It is the principal organ of
the United NationsGeneral
Assembly dealing with trade,
investment, and development
issues.
http://en.wikipedia.org/wiki/United_Nations_General_Assemblyhttp://en.wikipedia.org/wiki/United_Nations_General_Assembly -
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Main functions of UNCTAD :
To promote international trade .
To formulate principles and
policies on international trade
and related problems of
economic development.
To make proposal for puttingpolicies into effect.
To review and facilitate .
To be available as a centre for
harmonious trade and relateddocuments in the development
policies of governments
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The International Monetary
Fund (IMF) is an international
organisation of 188 countries (as of
April 2012), that was created on July
22, 1944 at the Bretton Woods
Conference and came into existence onDecember 27, 1945 when 29 countries
signed the Articles of Agreement.
Countries contribute money to a pool through a quota system fromwhich countries with payment imbalances can borrow funds
temporarily. Through this activity the IMF works to improve the
economies of its member countries and facilitate international trade.
International Monetary Fund (IMF)
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A trade agreement is a wide ranging tax, tariff
and trade pact that often includes investment
guarantees.
What are Trade Agreements ?
Regional Trade
Agreements
InternationalTrade
Agreements
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Regional Trade Agreements
Regional trade agreements (RTAs)
have become increasingly prevalent
since the early 1990s. As of 15
January 2012, some 511 notifications
of RTAs (counting goods andservices separately) had been
received by the GATT/WTO. Of
these, 319 were in force. What all
RTAs in the WTO have in common is
that they are reciprocal trade
agreements between two or more
partners.
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What is a Trade Bloc ?
A trade bloc is a type
of intergovernmental
agreement , often part of a
regional intergovernmental
organization , where
regional barriers to trade ,
(tariffs and non-tariff barriers)
are reduced or eliminated
among the participating states
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The EU is the worlds largest trading bloc, and second largest
economy, after the USA.
The initial aim was to create a single market for goods, services,
capital, and labour by eliminating barriers to trade and promoting
free trade between members.
The EU is the world's largest
trading block, which makes it one
of the key players in the World
Trade Organisation. In the WTO,
the European Commission
negotiates on behalf of the 27
countries of the European Union
European Union (EU)
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ASEAN Free Trade Area (AFTA)
Asia-Pacific Trade Agreement
(APTA)Central European Free Trade
Agreement (CEFTA)
Common Market for Eastern and
Southern Africa (COMESA)
G-3 Free Trade Agreement (G-3)
Greater Arab Free Trade Area
(GAFTA)
Gulf Cooperation Council (GCC)
North American Free TradeAgreement (NAFTA)
South Asia Free Trade Agreement
(SAFTA)
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The North American Free
Trade Agreement (NAFTA) is
an agreement signed by the
governments
of Canada, Mexico, andthe United States, creating a
trilateral trade bloc in North
America.
The goal of NAFTA was to eliminate barriers to trade and investment
between the US, Canada and Mexico.
North American Free Trade Agreement
(NAFTA)
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Asean Free TradeAgreement (AFTA) is a trade
bloc agreement by
the Association of Southeast
Asian Nations supporting localmanufacturing in all ASEAN
countries.
The primary goals of AFTA seek to:
Increase ASEAN's competitive edge as a production base in the
world market through the elimination, within ASEAN, of tariffs
and non-tariff barriers; and
Attract more foreign direct investment to ASEAN.
Asean Free Trade Agreement (AFTA)
i A i A i i
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The Latin American Free TradeAssociation (LAFTA) was
created in the 1960 Treaty of
Montevideo
by Argentina, Brazil, Chile, Mexico, Paraguay ,Peru ,
and Uruguay .
The goal of the LAFTA is the creation of a free trade zone in Latin
America. It should foster mutual regional trade among the member
states, as well as with the US and Canada , the Pacific Union ,
the African Union , and the European Union .
Latin American Free Trade Association
Agreement (LAFTA)
S h A i F T d A (SAFTA)
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South Asian Free Trade Agreement (SAFTA)
The South Asian Free Trade Area or SAFTA is anagreement reached on 6 January 2004 at the 12th
SAARC summit in Islamabad ,Pakistan.
The seven foreign ministers of theregion signed a framework
agreement on SAFTA to
reduce customs duties of all
traded goods to zero by the year2016.
The objective of the agreement is to promote good competition in
the free trade area and to provide equitable benefits to all the
countries involved in the contracts.
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The Asia-Pacific Trade Agreement
(APTA), previously named the Bangkok
Agreement , signed in 1975 as an
initiative of ESCAP, is a preferential tariff
arrangement that aims at promoting intra-regional trade through exchange of
mutually agreed concessions by member
countries.
It is the oldest preferential trade agreement between developing
countries in the Asia-Pacific region. Its aim is to promote economic
development and cooperation through the adoption of mutually
beneficial trade liberalization measures.
Asia Pacific Trade Agreement (APTA)
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The Comprehensive
Economic and Trade
Agreement (CETA) is aproposed free trade
and copyright agreement
between Canada and
the European Union .
CETA is Canada's biggest bilateral initiative
since NAFTA .
Comprehensive Economic and Trade
Agreement (CETA)
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A free-trade area is a trade bloc whose
member countries have signed a free-tradeagreement (FTA), which
eliminates tariffs, import quotas, and
preferences on most (if not all) goods and
services traded between them. If people are
also free to move between the countries, in
addition to FTA, it would also be
considered an open border. It can be
considered the second stage of economic
integration. Countries choose this kind ofeconomic integration if their economical
structures are complementary.
Free Trade Agreement
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World Trade Organization agreements:
General Agreement on Tariffs and Trade
Agreement on AgricultureAgreement on the Application of Sanitary and
Phytosanitary Measures
Agreement on Technical Barriers to Trade
Agreement on Trade Related Investment Measures
Agreement on Anti-Dumping
Agreement on Customs Valuation
Agreement on Import Licensing Procedures
Agreement on Subsidies and Countervailing Measures
Agreement on Safeguards
General Agreement on Trade in Services
Agreement on Trade-Related Aspects of IntellectualProperty Rights
Agreement on Government Procurement
Information Technology Agreement
International Agreements :
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Thank You !!