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Template:GATT and WTO trade rounds

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[hide]v deGATT and WTO trade rounds[1]

Name Start Duration Countries Subjects covered Achievements

Geneva April 1946 7 months 23 TariffsSigning of GATT, 45,000tariff concessions affecting$10 billion of trade

Annecy April 1949 5 months 13 TariffsCountries exchanged some5,000 tariff concessions

Torquay September 1950 8 months 38 Tariffs

Countries exchanged some8,700 tariff concessions,cutting the 1948 tarifflevels by 25%

Geneva II January 1956 5 months 26Tariffs, admissionof Japan

$2.5 billion in tariffreductions

Dillon September 1960 11 months 26 Tariffs

Tariff concessions worth

$4.9 billion of world trade

Kennedy May 1964 37 months 62Tariffs,Anti-dumping

Tariff concessions worth$40 billion of world trade

Tokyo September 1973 74 months 102

Tariffs, non-tariffmeasures,"framework"agreements

Tariff reductions worthmore than $300 billiondollars achieved

Uruguay September 1986 87 months 123

Tariffs, non-tariffmeasures, rules,services,intellectualproperty, disputesettlement,textiles,agriculture,creation of WTO,etc

The round led to thecreation of WTO, andextended the range oftrade negotiations, leading

to major reductions intariffs (about 40%) andagricultural subsidies, anagreement to allow fullaccess for textiles andclothing from developingcountries, and anextension of intellectualproperty rights.

Doha November 2001 ? 141

Tariffs, non-tariffmeasures,agriculture, labor

standards,environment,competition,investment,transparency,patents etc

The round is not yetconcluded.
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World Trade Organization

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"WTO" redirects here. For other uses, seeWTO (disambiguation).

World Trade Organization (English)

Organisation mondiale du commerce (French)

Organizacin Mundial del Comercio (Spanish)

WTO members

EU and WTO members

Observers

Formation January 1, 1995

HeadquartersCentre William Rappard,Geneva,

Switzerland

Membership 155[1]

member states

Official languages English,French,Spanish[2]

Director-General Pascal Lamy

Budget196 millionSwiss francs(approx. 209

millionUSD) in 2011.[3]
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Staff 640[4]

Website wto.org

The World Trade Organization (WTO) is an organization that intends to supervise andliberalizeinternationa

trade. The organization officially commenced on January 1, 1995 under theMarrakech Agreement, replacingtheGeneral Agreement on Tariffs and Trade(GATT), which commenced in 1948. The organization deals withregulation of trade between participating countries; it provides a framework for negotiating and formalizingtrade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTOagreements which are signed by representatives of member governments

[5]:fol.9-10and ratified by their

parliaments.[6]

Most of the issues that the WTO focuses on derive from previous trade negotiations, especiallyfrom theUruguay Round(19861994).

The organization is attempting to complete negotiations on theDoha Development Round, which was launchedin 2001 with an explicit focus on addressing the needs of developing countries. According to aEuropean Unionstatement, "The 2008 Ministerial meeting broke down over a disagreement between exporters of agricultural

bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'specialsafeguard measure' to protect farmers from surges in imports."[7]The position of theEuropean Commissionisthat "The successful conclusion of the Doha negotiations would confirm the central role of multilateralliberalisation and rule-making. It would confirm the WTO as a powerful shield against protectionistbacksliding."

[8]An impasse remains. As of June 2012, the future of the Doha Round remains uncertain: The

work programme lists 21 subjects in which the original deadline of 1 January 2005 was missed (So was the nextunofficial target of the end of 2006.)

[9]
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Contents

[hide]

1 Historyo 1.1 GATT rounds of negotiations

1.1.1 From Geneva to Tokyo 1.1.2 Uruguay Round

o 1.2 Ministerial conferenceso 1.3 Doha Round (The Doha Agenda)

2 Functions 3 Principles of the trading system 4 Organizational structure 5 Decision-making 6 Dispute settlement 7 Accession and membership

o 7.1 Accession processo 7.2 Members and observers

8 Agreements 9 Directors-General 10 See also 11 Notes 12 External links

[edit] History

Harry White(l) andJohn Maynard Keynesat the Bretton Woods Conference Both economists had been strong

advocates of a liberal international trade environment, and recommended the establishment of three institutions: the

IMF (fiscal and monetary issues), the World Bank (financial and structural issues), and the ITO (international economic

cooperation).[10]

The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established afterWorldWar IIin the wake of other newmultilateralinstitutions dedicated to international economic cooperation
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notably theBretton Woods institutionsknown as theWorld Bankand theInternational Monetary Fund. Acomparable international institution for trade, named theInternational Trade Organizationwas successfullynegotiated. The ITO was to be a United Nations specialized agency and would address not only trade barriersbut other issues indirectly related to trade, including employment, investment, restrictive business practices, andcommodity agreements. But the ITO treaty was not approved by the U.S. and a few other signatories and neverwent into effect.

[11][12][13]

In the absence of an international organization for trade, the GATT would over the years "transform itself" into

ade factointernational organization.[14]

[edit] GATT rounds of negotiations

See also:General Agreement on Tariffs and Trade

The GATT was the onlymultilateralinstrument governing international trade from 1946 until the WTO wasestablished on January 1, 1995.

[15]Despite attempts in the mid 1950s and 1960s to create some form of

institutional mechanism for international trade, the GATT continued to operate for almost half a century as asemi-institutionalized multilateral treaty regime on a provisional basis.[16]

[edit]From Geneva to Tokyo

Seven rounds of negotiations occurred under GATT. The first real GATT trade rounds concentrated on furtherreducingtariffs. Then, theKennedy Roundin the mid-sixties brought about a GATTanti-dumpingAgreementand a section on development. The Tokyo Round during the seventies was the first major attempt to tackle tradebarriers that do not take the form of tariffs, and to improve the system, adopting a series of agreements onnon-tariff barriers, which in some cases interpreted existing GATT rules, and in others broke entirely new ground.Because theseplurilateral agreementswere not accepted by the full GATT membership, they were ofteninformally called "codes". Several of these codes were amended in the Uruguay Round, and turned intomultilateral commitments accepted by all WTO members. Only four remained plurilateral (those on governmentprocurement, bovine meat, civil aircraft and dairy products), but in 1997 WTO members agreed to terminate thebovine meat and dairy agreements, leaving only two.[15]

[edit]Uruguay Round

During the Doha Round, theUS governmentblamedBrazilandIndiafor being inflexible, and the EU for impeding

agricultural imports.[17]

The then-President of Brazil,Luiz Incio Lula da Silva, responded to the criticisms by arguing that

progress would only be achieved if the richest countries (especially the US and countries in the EU) make deeper cuts in

theiragricultural subsidies, and further open their markets for agricultural goods.[18]

Main article:Uruguay Round
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Well before GATT's 40th anniversary, its members concluded that the GATT system was straining to adapt to anewglobalizingworld economy.

[19][20]In response to the problems identified in the 1982 Ministerial

Declaration (structural deficiencies, spill-over impacts of certain countries' policies on world trade GATT couldnot manage etc.), the eighth GATT roundknown as the Uruguay Roundwas launched in September1986, inPunta del Este,Uruguay.[19]

It was the biggest negotiating mandate on trade ever agreed: the talks were going to extend the trading systeminto several new areas, notably trade in services and intellectual property, and to reform trade in the sensitive

sectors of agriculture and textiles; all the original GATT articles were up for review.[20]The Final Actconcluding the Uruguay Round and officially establishing the WTO regime was signed April 15, 1994, duringthe ministerial meeting atMarrakesh,Morocco, and hence is known as theMarrakesh Agreement.[21]

The GATT still exists as the WTO's umbrella treaty for trade in goods, updated as a result of the UruguayRound negotiations (a distinction is made between GATT 1994, the updated parts of GATT, and GATT 1947,the original agreement which is still the heart of GATT 1994).

[19]GATT 1994 is not however the only legally

binding agreement included via the Final Act at Marrakesh; a long list of about 60 agreements, annexes,decisions and understandings was adopted. The agreements fall into a structure with six main parts:

The Agreement Establishing the WTO Goodsandinvestment the Multilateral Agreements on Trade in Goods including the GATT 1994 and theTrade

Related Investment Measures(TRIMS)

Services theGeneral Agreement on Trade in Services Intellectual property theAgreement on Trade-Related Aspects of Intellectual Property Rights(TRIPS) Dispute settlement (DSU) Reviews of governments' trade policies (TPRM)[22]

In terms of the WTO'sprinciple relating to tariff "ceiling-binding" (No. 3), the Uruguay Round has beensuccessful in increasing binding commitments by both developed and developing countries, as may be seen inthe percentages of tariffs bound before and after the 1986-1994 talks.

[23]

[edit] Ministerial conferences

The topmost decision-making body of the WTO is theMinisterial Conference, which usually meets every twoyears. It brings together all members of the WTO, all of which are countries or customs unions. The MinisterialConference can take decisions on all matters under any of the multilateral trade agreements. Theinauguralministerial conferencewas held inSingaporein 1996. Disagreements between largely developed anddeveloping economies emerged during this conference over four issues initiated by this conference, which led tothem being collectively referred to as the "Singapore issues". Thesecond ministerial conferencewas held inGenevainSwitzerland. Thethird conferenceinSeattle, Washingtonended in failure, with massivedemonstrations and police and National Guard crowd control efforts drawing worldwide attention. Thefourthministerial conferencewas held inDohain thePersian Gulfnation ofQatar. TheDoha Development Round

was launched at the conference. The conference also approved the joining of China, which became the 143rdmember to join. Thefifth ministerial conferencewas held inCancn,Mexico, aiming at forging agreement onthe Doha round. An alliance of 22southernstates, theG20 developing nations(led by India, China,[24]Brazil,ASEANled by thePhilippines), resisted demands from the North for agreements on the so-called "Singaporeissues" and called for an end toagricultural subsidieswithin the EU and the US. The talks broke down withoutprogress.

Thesixth WTO ministerial conferencewas held inHong Kongfrom 1318 December 2005. It was consideredvital if the four-year-old Doha Development Round negotiations were to move forward sufficiently to concludethe round in 2006. In this meeting, countries agreed to phase out all their agricultural export subsidies by theend of 2013, and terminate any cotton export subsidies by the end of 2006. Further concessions to developing
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onhttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/Dohahttp://en.wikipedia.org/wiki/Dohahttp://en.wikipedia.org/wiki/Dohahttp://en.wikipedia.org/wiki/Persian_Gulfhttp://en.wikipedia.org/wiki/Persian_Gulfhttp://en.wikipedia.org/wiki/Persian_Gulfhttp://en.wikipedia.org/wiki/Qatarhttp://en.wikipedia.org/wiki/Qatarhttp://en.wikipedia.org/wiki/Qatarhttp://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2003http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2003http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2003http://en.wikipedia.org/wiki/Canc%C3%BAnhttp://en.wikipedia.org/wiki/Canc%C3%BAnhttp://en.wikipedia.org/wiki/Canc%C3%BAnhttp://en.wikipedia.org/wiki/Mexicohttp://en.wikipedia.org/wiki/Mexicohttp://en.wikipedia.org/wiki/Mexicohttp://en.wikipedia.org/wiki/North-South_dividehttp://en.wikipedia.org/wiki/North-South_dividehttp://en.wikipedia.org/wiki/North-South_dividehttp://en.wikipedia.org/wiki/G20_developing_nationshttp://en.wikipedia.org/wiki/G20_developing_nationshttp://en.wikipedia.org/wiki/G20_developing_nationshttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-23http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-23http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-23http://en.wikipedia.org/wiki/ASEANhttp://en.wikipedia.org/wiki/ASEANhttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Agricultural_subsidieshttp://en.wikipedia.org/wiki/Agricultural_subsidieshttp://en.wikipedia.org/wiki/Agricultural_subsidieshttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2005http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2005http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2005http://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2005http://en.wikipedia.org/wiki/Agricultural_subsidieshttp://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Philippineshttp://en.wikipedia.org/wiki/ASEANhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-23http://en.wikipedia.org/wiki/G20_developing_nationshttp://en.wikipedia.org/wiki/North-South_dividehttp://en.wikipedia.org/wiki/Mexicohttp://en.wikipedia.org/wiki/Canc%C3%BAnhttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2003http://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/Qatarhttp://en.wikipedia.org/wiki/Persian_Gulfhttp://en.wikipedia.org/wiki/Dohahttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_2001http://en.wikipedia.org/wiki/Seattle,_Washingtonhttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_1999http://en.wikipedia.org/wiki/Switzerlandhttp://en.wikipedia.org/wiki/Genevahttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_1998http://en.wikipedia.org/wiki/Singapore_issueshttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_1996http://en.wikipedia.org/wiki/WTO_Ministerial_Conference_of_1996http://en.wikipedia.org/wiki/Ministerial_Conferencehttp://en.wikipedia.org/w/index.php?title=World_Trade_Organization&action=edit&section=5http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-PT-22http://en.wikipedia.org/wiki/WTO#Principles_of_the_trading_systemhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-OL-21http://en.wikipedia.org/wiki/Agreement_on_Trade-Related_Aspects_of_Intellectual_Property_Rightshttp://en.wikipedia.org/wiki/Intellectual_propertyhttp://en.wikipedia.org/wiki/General_Agreement_on_Trade_in_Serviceshttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Trade_Related_Investment_Measureshttp://en.wikipedia.org/wiki/Trade_Related_Investment_Measureshttp://en.wikipedia.org/wiki/Investmenthttp://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-G4-18http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-20http://en.wikipedia.org/wiki/Marrakesh_Agreementhttp://en.wikipedia.org/wiki/Moroccohttp://en.wikipedia.org/wiki/Marrakeshhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-UR-19http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-G4-18http://en.wikipedia.org/wiki/Uruguayhttp://en.wikipedia.org/wiki/Punta_del_Estehttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-G4-18http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-G4-18http://en.wikipedia.org/wiki/Globalization


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countries included an agreement to introduce duty free, tariff free access for goods from the Least DevelopedCountries, following theEverything but Armsinitiative of theEuropean Unionbut with up to 3% of tarifflines exempted. Other major issues were left for further negotiation to be completed by the end of 2010. TheWTO General Council, on 26 May 2009, agreed to hold a seventh WTO ministerial conference session inGeneva from 30 November-3 December 2009. A statement by chairman Amb.Mario Matusacknowledged thatthe prime purpose was to remedy a breach of protocol requiring two-yearly "regular" meetings, which hadlapsed with the Doha Round failure in 2005, and that the "scaled-down" meeting would not be a negotiatingsession, but "emphasis will be on transparency and open discussion rather than on small group processes and

informal negotiating structures". The general theme for discussion was "The WTO, the Multilateral TradingSystem and the Current Global Economic Environment"

[25]

[edit]Doha Round (The Doha Agenda).Main article:Doha Development Round

The Doha Development Round started in 2001 and continues today.

The WTO launched the current round of negotiations, the Doha Development Round, at the fourth ministerialconference inDoha, Qatarin November 2001. This was to be an ambitious effort to make globalization more

inclusive and help the world's poor, particularly by slashing barriers and subsidies in farming.[26]The initialagenda comprised both further trade liberalization and new rule-making, underpinned by commitments tostrengthen substantial assistance to developing countries.

[8]

The negotiations have been highly contentious. Disagreements still continue over several key areas includingagriculture subsidies, which emerged as critical in July 2006.

[27]As of June 2012, agreement has not been

reached, despite intense negotiations at several ministerial conferences and at other sessions.

[show]vdeGATT and WTO trade rounds[28]

[edit] Functions

Among the various functions of the WTO, these are regarded by analysts as the most important:
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It oversees the implementation, administration and operation of the covered agreements.[29][30] It provides a forum for negotiations and for settling disputes.[31][32]

Additionally, it is the WTO's duty to review and propagate the national trade policies, and to ensure thecoherence and transparency of trade policies through surveillance in global economic policy-making.

[30][32]

Another priority of the WTO is the assistance ofdeveloping, least-developed and low-income countries intransition to adjust to WTO rules and disciplines through technical cooperation and training.[33]

The WTO is also a center of economic research and analysis: regular assessments of the global trade picture inits annual publications and research reports on specific topics are produced by the organization.

[34]Finally, the

WTO cooperates closely with the two other components of the Bretton Woods system, the IMF and the WorldBank.[31]

[edit] Principles of the trading system

The WTO establishes a framework for trade policies; it does not define or specify outcomes. That is, it isconcerned with setting the rules of the trade policy games.[35]Five principles are of particular importance inunderstanding both the pre-1994 GATT and the WTO:

1. Non-discrimination. It has two major components: themost favoured nation(MFN) rule, and thenationaltreatmentpolicy. Both are embedded in the main WTO rules on goods, services, and intellectual property, but

their precise scope and nature differ across these areas. The MFN rule requires that a WTO member must apply

the same conditions on all trade with other WTO members, i.e. a WTO member has to grant the most favorable

conditions under which it allows trade in a certain product type to all other WTO members.[35]"Grant someone a

special favour and you have to do the same for all other WTO members."[23]National treatment means that

imported goods should be treated no less favorably than domestically produced goods (at least after the foreign

goods have entered the market) and was introduced to tacklenon-tariff barriers to trade(e.g. technical

standards, security standards et al. discriminating against imported goods).[35]

2. Reciprocity. It reflects both a desire to limit the scope offree-ridingthat may arise because of the MFN rule, anda desire to obtain better access to foreign markets. A related point is that for a nation to negotiate, it is

necessary that the gain from doing so be greater than the gain available fromunilateralliberalization; reciprocalconcessions intend to ensure that such gains will materialise.

[36]

3. Binding and enforceable commitments. The tariff commitments made by WTO members in a multilateral tradenegotiation and on accession are enumerated in a schedule (list) of concessions. These schedules establish

"ceiling bindings": a country can change its bindings, but only after negotiating with its trading partners, which

could mean compensating them for loss of trade. If satisfaction is not obtained, the complaining country may

invoke the WTO dispute settlement procedures.[23][36]

4. Transparency. The WTO members are required to publish their trade regulations, to maintain institutionsallowing for the review of administrative decisions affecting trade, to respond to requests for information by

other members, and to notify changes in trade policies to the WTO. These internal transparency requirements

are supplemented and facilitated by periodic country-specific reports (trade policy reviews) through the Trade

Policy Review Mechanism (TPRM).[37]

The WTO system tries also to improve predictability and stability,

discouraging the use ofquotasand other measures used to set limits on quantities of imports.[23]

5. Safety valves. In specific circumstances, governments are able torestrict trade. The WTOs agreements permitmembers to take measures to protect not only the environment but also public health, animal health and plant

health.[38]

There are three types of provision in this direction:

articles allowing for the use of trade measures to attain non-economic objectives; articles aimed at ensuring "fair competition"; members must not use environmental protection

measures as a means of disguising protectionist policies.[38]
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ade_Organization#cite_note-wto.org-37http://en.wikipedia.org/wiki/Trade_restrictionhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-PT-22http://en.wikipedia.org/wiki/Import_quotahttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H44-36http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-PT-22http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-PT-22http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H43-35http://en.wikipedia.org/wiki/Unilateralismhttp://en.wikipedia.org/wiki/Free_rider_problemhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H42-34http://en.wikipedia.org/wiki/Non-tariff_barriers_to_tradehttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-PT-22http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H42-34http://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/National_treatmenthttp://en.wikipedia.org/wiki/Most_favoured_nationhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H42-34http://en.wikipedia.org/w/index.php?title=World_Trade_Organization&action=edit&section=8http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-B17-30http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-EA-33http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-AT-32http://en.wikipedia.org/wiki/Developing_countrieshttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-WTOmain-functions-29http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-WTOmain-functions-29http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-B17-30http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-B17-30http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-iisd-functions-28http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-iisd-functions-28


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provisions permitting intervention in trade for economic reasons.[37]Exceptions to the MFN principle also allow for preferential treatment ofdeveloping countries, regionalfree

trade areasandcustoms unions.[5]:fol.93

[edit] Organizational structure

The General Council has the following subsidiary bodies which oversee committees in different areas:

Council for Trade in Goods

There are 11 committees under the jurisdiction of the Goods Council each with a specific task. All members of

the WTO participate in the committees. The Textiles Monitoring Body is separate from the other committees

but still under the jurisdiction of Goods Council. The body has its own chairman and only 10 members. The body

also has several groups relating to textiles.[39]

Council for Trade-Related Aspects of Intellectual Property Rights

Information on intellectual property in the WTO, news and official records of the activities of the TRIPS Council,

and details of the WTO's work with other international organizations in the field.[40]

Council for Trade in Services

The Council for Trade in Services operates under the guidance of the General Council and is responsible for

overseeing the functioning of theGeneral Agreement on Trade in Services(GATS). It is open to all WTO

members, and can create subsidiary bodies as required.[41]

Trade Negotiations Committee

The Trade Negotiations Committee (TNC) is the committee that deals with the current trade talks round. The

chair is WTO's director-general. As of June 2012 the committee was tasked with theDoha DevelopmentRound.

[42]

The Service Council has three subsidiary bodies: financial services, domestic regulations, GATS rules andspecific commitments.[39]The General council has several different committees, working groups, and workingparties.

[43]There are committees on the following: Trade and Environment; Trade and Development

(Subcommittee onLeast-Developed Countries);Regional Trade Agreements; Balance of Payments Restrictionsand Budget, Finance and Administration. There are working parties on the following: Accession. There areworking groups on the following: Trade, debt and finance; and Trade and technology transfer.

[edit] Decision-making

The WTO describes itself as "a rules-based, member-driven organizationall decisions are made by themember governments, and the rules are the outcome of negotiations among members".

[44]The WTO Agreement

foresees votes where consensus cannot be reached, but the practice of consensus dominates the process ofdecision-making.[45]

Richard Harold Steinberg(2002) argues that although the WTO's consensus governance model provides law-based initial bargaining, trading rounds close through power-based bargaining favouringEuropeand the U.S.,and may not lead toPareto improvement.

[46]
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_Trade_Organization#cite_note-WTO_subsidiary_bodies-38http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-WTO-TNC-41http://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/Doha_Development_Roundhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-WTO-Services_council-40http://en.wikipedia.org/wiki/General_Agreement_on_Trade_in_Serviceshttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-39http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-WTO_subsidiary_bodies-38http://en.wikipedia.org/w/index.php?title=World_Trade_Organization&action=edit&section=9http://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-underst-4http://en.wikipedia.org/wiki/Customs_unionhttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Free_trade_areahttp://en.wikipedia.org/wiki/Developing_countryhttp://en.wikipedia.org/wiki/World_Trade_Organization#cite_note-H44-36


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[edit] Dispute settlement

Main article:Dispute settlement in the WTO

In 1994, the WTO members agreed on the Understanding on Rules and Procedures Governing the Settlement ofDisputes (DSU) annexed to the "Final Act" signed in Marrakesh in 1994.

[47]Dispute settlement is regarded by

the WTO as the central pillar of the multilateral trading system, and as a "unique contribution to the stability ofthe global economy".[48]WTO members have agreed that, if they believe fellow-members are violating traderules, they will use the multilateral system of settling disputes instead of taking action unilaterally.

[49]

The operation of the WTO dispute settlement process involves the DSB panels, the Appellate Body, the WTOSecretariat, arbitrators, independent experts and several specialized institutions.

[50]Bodies involved in the

dispute settlement process, World Trade Organization.

[edit] Accession and membership

Main article:World Trade Organization accession and membership

The process of becoming a W.T.O 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.[51]The process takes

about five years, on average, but it can last more if the country is less than fully committed to the process or ifpolitical issues interfere. The shortest accession negotiation was that of theKyrgyz Republic, while the longestwas that of thePeople's Republic of China(P. Farah, Five Years of China's WTO Membership, 263304).Russia, having first applied to join GATT in 1993, was approved for membership in December 2011 .[52]Anoffer of accession is only given once consensus is reached among interested parties.

[53]

[edit] Accession process

WTO accession progress. (As of June 2012, including pending membership of the Russian Federation.):

Members (including dual-representation with the European Union)

Draft Working Party Report or Factual Summary adopted

Goods and/or Services offers submitted

Memorandum on Foreign Trade Regime (FTR) submitted

Observer, negotiations to start later or no Memorandum on FTR submitted

Frozen procedures or no negotiations in the last 3 years

No official interaction with the WTO
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11/15

A country wishing to accede to the WTO submits an application to the General Council, and has to describe allaspects of its trade and economic policies that have a bearing on WTO agreements.

[54]The application is

submitted to the WTO in amemorandumwhich is examined by a working party open to all interested WTOMembers.[53]

After all necessary background information has been acquired, the working party focuses on issues ofdiscrepancy between the WTO rules and the applicant's international and domestic trade policies and laws. Theworking party determines the terms and conditions of entry into the WTO for the applicant nation, and may

consider transitional periods to allow countries some leeway in complying with the WTO rules.[51]

The final phase of accession involves bilateral negotiations between the applicant nation and other workingparty members regarding the concessions and commitments on tariff levels and market access for goods andservices. The new member's commitments are to apply equally to all WTO members under normal non-discrimination rules, even though they are negotiated bilaterally.

[54]

When the bilateral talks conclude, the working party sends to the general council or ministerial conference anaccession package, which includes a summary of all the working party meetings, the Protocol of Accession (adraft membership treaty), and lists ("schedules") of the member-to-be's commitments. Once the general councilor ministerial conference approves of the terms of accession, the applicant's parliament must ratify the Protocol

of Accession before it can become a member.[55]

[edit] Members and observers

The WTO has 155 members (to become 156 on the pending accession of Russia)[56]

and 29 observergovernments (including the Russian Federation).[57]In addition to states, the European Union is a member.WTO members do not have to be fullsovereignnation-members. Instead, they must be a customs territory withfull autonomy in the conduct of their external commercial relations. ThusHong Kong(as "Hong Kong, China"since 1997) became a GATT contracting party, and theRepublic of China(Taiwan) acceded to the WTO in2002 as "Separate Customs Territory ofTaiwan,Penghu,KinmenandMatsu" (Chinese Taipei) despite itsdisputed status.

[58]The WTO Secretariat omits the official titles (such as Counselor, First Secretary, Second

Secretary and Third Secretary) of the members of Chinese Taipei's Permanent Mission to the WTO, except forthe titles of the Permanent Representative and the Deputy Permanent Representative.[59]

Iranis the biggest economy outside the WTO.[60]With the exception of theHoly See, observers must startaccession negotiations within five years of becoming observers. A number of international intergovernmentalorganizations have also been granted observer status to WTO bodies.

[61]14 states and two territories so far have

no official interaction with the WTO.

[edit] Agreements

Main article:Uruguay Round

The WTO oversees about 60 different agreements which have the status of international legal texts. Membercountries must sign and ratify all WTO agreements on accession.[62]A discussion of some of the most importantagreements follows. TheAgreement on Agriculturecame into effect with the establishment of the WTO at thebeginning of 1995. The AoA has three central concepts, or "pillars": domestic support,market accessandexporsubsidies. TheGeneral Agreement on Trade in Serviceswas created to extend the multilateral trading system toservice sector, in the same way as the General Agreement on Tariffs and Trade (GATT) provided such a systemfor merchandise trade. The agreement entered into force in January 1995. TheAgreement on Trade-RelatedAspects of Intellectual Property Rightssets down minimum standards for many forms ofintellectual property(IP) regulation. It was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs andTrade (GATT) in 1994.
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WTO Assigment

Documents

Transcript of WTO Assigment