What is the World Trade

Organization?
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.
Above all, its a negotiating forum ...
Its a set of rules
And it helps to settle disputes

History
The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established
after World War II in the wake of other new multilateral institutions dedicated to international
economic cooperation notably the Bretton Woods institutions known as the World Bank and
the International Monetary Fund. A comparable international institution for trade, named
the International Trade Organization was successfully negotiated. The ITO was to be a United
Nations specialized agency and would address not only trade barriers but other issues indirectly
related to trade, including employment, investment, restrictive business practices, and
commodity agreements. But the ITO treaty was not approved by the U.S. and a few other
signatories and never went into effect.[17][18][19]
In the absence of an international organization for trade, the GATT would over the years
"transform itself" into a de facto international organization.[20]

Principles & values

The trading system should be ...

without discrimination a country should not discriminate between its
trading partners (giving them equally most-favoured-nation or MFN
status); and it should not discriminate between its own and foreign
products, services or nationals (giving them national treatment);
freer barriers coming down through negotiation;
predictable foreign companies, investors and governments should be
confident that trade barriers (including tariffs and non-tariff barriers)
should not be raised arbitrarily; tariff rates and market-opening
commitments are bound in the WTO;

more competitive discouraging unfair practices such as export

subsidies and dumping products at below cost to gain market share;
more beneficial for less developed countries giving them more
time to adjust, greater flexibility, and special privileges.

STRUCTURE

The World Trade Organization came into being in 1995

successor to the General Agreement on Tariffs and Trade (GATT)
established in the wake of the Second World War
The WTO has 161 members, accounting for almost 95% of world trade.
Around 25 others are negotiating membership.
The WTOstop level decision-making body isthe Ministerial Conference
which meets at least once every two years.
Below thisisthe General Council which meets several times in a year in
the Geneva headquarters. The General Council also meets asthe Trade
Policy Review Body and the Dispute Settlement Body.
At the next level, the Goods Council, Services Council and Intellectual
Property (TRIPS) Council report to the General Council. Numerous
specialized committees, working groups and working parties deal with the
individual agreements and other areassuch asthe environment,
development, membership applications and regional trade agreements.
The Secretariats main duties are to supply technicalsupport for the
various councils and committees and the ministerial conferences, to
provide technical assistance for developing countries, to analyze world
trade, and to explain WTO airsto the public and media.

THEORY : https://www.wto.org/english/thewto_e/whatis_e/tif_e/org1_e.htm

FACT FILE

Location: Geneva, Switzerland

Established : 1 January 1995
Created by : Uruguay Round negotiations (1986-94)
Membership : 161 countries since 26 April 2015
Budget : 197 million Swiss francsfor
Secretariat sta : 640
Head : Roberto Azevdo (Director-Ge neral)
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

WTO AGREEMENTS

SHORT T HEORY :
https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm1_e.htm

TRIPS

Origins: into the rule-based trade system....

Basic principles: national treatment, MFN, and balanced protection
How to protect intellectual property: common ground-rules
THEORY LINK :
https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm7_e.htm

Three main features

o
o
o

Standards
Enforcement
Dispute settlement

Substantive standards of protection

o
o
o
o
o
o
o
o
o
o

Copyright
Trademarks
Geographical indications
Industrial designs
Patents
Integrated circuits layout designs
Undisclosed information and trade secrets
Curbing anti-competitive licensing contracts
Technology transfer
Transition arrangements: 1, 5 or 11 years or more
THEORY LINK :
https://www.wto.org/english/tratop_e/trips_e/intel2_e.htm

Current issues in intellectual property

o
o
o
o
o
o
o

TRIPS and public health

TRIPS, biodiversity, traditional knowledge, plants and life forms
Geographical indications
Non-violation complaints
Technology transfer
Least developed countries priority needs
Enforcement
THEORY LINK :
https://www.wto.org/english/tratop_e/trips_e/trips_issues_e.htm