BY, INIYA R CHANDANA P NIRAV DOSHI

MULTILATERAL TRADE LAWS

 General Agreement on Tariff and Trade Created in 1947 Intended to become a part of the International Trade Organization (ITO) Organization affiliated with the United Nations to facilitate international trade Action-freeze and reduce tariff levels on various commodities Agreement among signatory countries to follow a collectively agreed-upon set of rules

GATT

GATT
The workings of GATT are based on 5 Principles Nondiscrimination Reciprocity Transparency Dispute settlement Exceptions In 1994, GATT was superseded by the WTO due to apparent lack of enforcement authority

URUGUAY ROUND

Eighth GATT round -September 1986, in Punta del Este, Uruguay Biggest negotiating mandate on trade ever agreed Trade in services and intellectual property Reform trade in the sensitive sectors of agriculture and textiles Decided GATT will be renamed as WTO The Final Act was signed during the April 1994 ministerial meeting at Marrakesh, Morocco, known as the Marrakesh Agreement.

WTO
Supervise and liberalize international trade Commenced on January 1, 1995 Regulation of trade between participating countries 153 members, representing more than 97% of total world trade Governed by a ministerial conference, meeting every two years Headquarters - Centre William Rappard, Geneva, Switzerland.

STRUCTURE OF WTO
The General Council has multiple bodies which oversee committees in different areas: Council for Trade in Goods Council for Trade-Related Aspects of Intellectual Property Rights Council for Trade in Services Trade Negotiations Committee The General council has several different committees, working groups, and working parties

MINISTERIAL CONFERENCES

The topmost decision making body- meets every two years The inaugural conference - Singapore in 1996 Second- Geneva, Switzerland Third - Seattle, Washington ended in failure Fourth Doha, Persian Gulf nation approved the joining of China, which became the 143rd member to join. Fifth - Cancn, Mexico Sixth - Hong Kong-agreed to phase out all their agricultural export subsidies by the end of 2013

 such as textiles and WTO rules in merchandise sectors

IMPACTS OF WTO IN DEVELOPING COUNTRIES

apparel and in agriculture- has been strengthened and improved Expand their imports and exports, the new rules will help to ensure that these countries extract the greatest benefit from international trade Generalized System of Preferences (GSP) offered substantially better access to developed country markets than was available under bound MFN tariff rates To liberalization of trade in the textile, clothing, footwear and food sectors, there have been major changes in the WTO rules that apply to trade in these goods

CURRENT ISSUES

REGIONAL TRADE BLOCKS

Associations of nations at a governmental level To promote trade within the block and defend its members against global competition Through tariffs on goods produced by member states, import quotas, government subsidies, onerous bureaucratic import processes, and technical and other non-tariff barriers. In terms of their size and trade value, there are four major trade blocks and a larger number of blocks of regional importance.

ASEAN
"One Vision, One Identity, One Community "10 countries, 1 identity"

Association of Southeast Asian Nations A geo-political and economic organization of 10 countries located in Southeast Asia Include the acceleration of economic growth, social progress, cultural development among its members, the protection of the peace and stability of the region, and to provide opportunities for member countries to discuss differences peacefully In 2010, its combined nominal GDP had grown to USD $1.8 trillion

NAFTA
North American Free Trade Agreement Agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America Canada-United States Free Trade Agreement between the U.S. and Canada In terms of Combined purchasing power parity GDP of its members, the larges in the world and second largest by nominal GDP comparison

SAARC
South Asian Association for Regional Cooperation Organization of South Asian nations- 1985 Dedicated to economic, technological, social, and cultural development emphasizing collective selfreliance Eight members-Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, Sri Lanka & Afghanistan Headquarters - Kathmandu, Nepal Meetings of heads of state are usually scheduled annually; meetings of foreign secretaries, twice annually

BRIC
Brazil, Russia, India, and China The BRIC thesis (2003) Dreaming with BRICs: The Path to 2050 (2004) Follow-up report (2007) Second Follow-up report (2010) EM Equity in Two Decades: A Changing Landscape June 16, 2009, first summit in Yekaterinburg, and issued a declaration calling for the establishment of an equitable, democratic and multipolar world order

THANKS