Rimpi Soni

Karan Verma
What Is the WTO?
The World Trade Organization (WTO) is the only
global international organization dealing with
the rules of trade between nations.
WTO agreements are negotiated and signed by
the trading nations and ratified in their
parliaments.
The goal is to help producers of goods and
services, exporters, and importers conduct and
grow their business.

Objectives of WTO
1. to implement the new world trade system as visualized in the Agreement;
2. to promote World Trade in a manner that benefits every country;
3. to ensure that developing countries secure a better balance in the sharing of
the advantages resulting from the expansion of international trade
corresponding to their developmental needs;
4. to demolish all hurdles to an open world trading system and usher in
international economic renaissance because the world trade is an effective
instrument to foster economic growth;
5. to enhance competitiveness among all trading partners so as to benefit
consumers and help in global integration;
6. to increase the level of production and productivity with a view to ensuring
level of employment in the world;
7. to expand and utilize world resources to the best;
8. to improve the level of living for the global population and speed up
economic development of the member nations.
Major WTO Functions
Administering WTO trade agreements
Forum for trade negotiations
Handling trade disputes
Monitoring national trade policies
Technical assistance and training for
developing countries
Cooperation with other international
organizations



Advantages of WTO


Principles of the world trading
system under the WTO
Non discrimination
Freer trade
Predictability and transparency
The promotion of fair competition-
Encouragement of development and economic
reform

Argument in Favour of WTO
Increase in foreign trade.
Increase in agricultural exports.
Increase in inflow of foreign investment.
Improvement in services.
Benefits for clothing & textile industry.
Inflow of better technology & better quality products.
Benefits of multilateral trade system.
Benefits of using quality seeds & new varieties of plants.
Restricts dumping.


Impact of WTO in INDIA
Increase in export earning
Agriculture exports
Textiles & clothing
Telecom
FDI
Multilateral rules & discipline