Subject Matter Of WTO

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The WTO deals with the global rules of trade between nations.

Headquarter Location: Geneva, Switzerland

Established: 1 January 1995

Created by: Uruguay Round negotiations

(1986-1994),

successor the General Agreement on Tariffs and

Trade (GATT), 1947.

Membership: ________ countries.

http://www.wto.org/

Purposes: increase of a standard of life;full employment maintenance; constant growth of income and effective demand; expansion of manufacture of goods and services and trade with them; optimum use of world resources according to the purposes of a sustainable development, protection and enviroment preservation; maintenance for the developing countries and the least developed countriesof such participation in international trade which would meet the requirements of their economic development.

Functions. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. WTO oversees the implementation, administration and operation of the covered agreements. It provides a forum for negotiations and for settling disputes. The WTO covers agreements practically all sphere of the international commercial policy and a considerable part of the international commercial practice, namely: customs-tariff regulation; antidumping regulation and application of countervailing duties; use of grants and compensatory measures; not tariff restrictions; quantitive regulation; export and import licensing; the customs unions and zones of free trade; customs formalities, requirements to the foreign trade gocumentation; technical barriers in trade; sanitary and phytosanitary measures; rules of origin of the goods; trading aspects of protection of intellectual property rights;trade in textile and clothes; trade in agricultural production.

Why is WTO Membership So Important?

• WTO membership means that the nation automatically receives Most Favored Nation status. Most Favored Nation status is when a country enjoys all the lowered tariffs and reductions of trade barriers that all other members of the WTO receive.That is all members of the WTO receive the same trade benefits.
• WTO membership allows countries a larger market for their goods, leading to greater sales, more jobs and faster economic growth.
• Over 75% of WTO members are developing countries. WTO membership allows them access to developed markets at the lower tariffs, while taking time to remove reciprocal tariffs in their own markets. This gives these countries an opportunity to “catch up” to sophisticated multinational corporations and their mature industries before opening the developing countries’ markets to overwhelming competitive pressure.

Дата добавления: 2015-11-14