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Wto
Wto
the World Trade Organization (WTO) deals with the rules of trade
between nations at a global or near-global level. But there is more to it
than that.
• Is it a bird, is it a plane……
• Above all, it’s a negotiating forum …
• It’s a set of rules …
• or it a table………
Born in 1995, but not so young
• The WTO began life on 1 January 1995, but its trading system is half a
century older.
•Since 1948, the General Agreement on Tariffs and Trade (GATT) had
provided the rules for the system.
•
•The last and largest GATT round, was the Uruguay Round which
lasted from 1986 to 1994 and led to the WTO’s creation.
What happened to GATT?
• The General Agreement still exists as the WTO’s umbrella treaty for
trade in goods, updated as a result of the Uruguay Round
negotiations.
World trade and production have accelerated Both trade and GDP fell in
the late 1920s,before bottoming out in 1932. After World War II, both
have risen exponentially, most of the time with trade outpacing GDP.
(1950 = 100. Trade and GDP: log scale)
GATT trade rounds
Third level: councils for each broad area of trade, and more
The WTO Secretariat and budget
• Geneva 2008
1)Talks were stalled on the issue of special safeguard mechanism
compromise.
2)US said it was ready to cap farm subsidies at $15 billion a year from
$18 billion on condition*
3)US & EU also offered an increase in the temp-work visas for
professional workers.
4) Disagreements on issued related to Indian & Chinese farmers, African
& Caribbean banana imports to EU.
5) Failure was blamed at India and China over over the special
safeguard mechanism (SSM)
Doha 2009
• No negotiations