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  • World Trade Organisation: Presented By: Divya Divya Gupta Divyanshu Parashar Dr. Shubhangi Foujdar Dushyant Jayant

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    The World Trade Organization (WTO) was established in 1995 to promote international trade and resolve trade disputes. It replaced the General Agreement on Tariffs and Trade (GATT) which had been in place since 1948. The WTO has 164 member countries and its key objectives are to reduce trade barriers, improve living standards, promote optimal use of resources, and ensure trade benefits all nations. It administers trade agreements, facilitates negotiations, handles disputes, and provides technical assistance to developing countries.

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    WTO

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    The World Trade Organization (WTO) was established in 1995 to promote international trade and resolve trade disputes. It replaced the General Agreement on Tariffs and Trade (GATT) which had been in place since 1948. The WTO has 164 member countries and its key objectives are to reduce trade barriers, improve living standards, promote optimal use of resources, and ensure trade benefits all nations. It administers trade agreements, facilitates negotiations, handles disputes, and provides technical assistance to developing countries.

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    10 views8 pages

    World Trade Organisation: Presented By: Divya Divya Gupta Divyanshu Parashar Dr. Shubhangi Foujdar Dushyant Jayant

    Uploaded by

    Divya Gupta
    The World Trade Organization (WTO) was established in 1995 to promote international trade and resolve trade disputes. It replaced the General Agreement on Tariffs and Trade (GATT) which had been in place since 1948. The WTO has 164 member countries and its key objectives are to reduce trade barriers, improve living standards, promote optimal use of resources, and ensure trade benefits all nations. It administers trade agreements, facilitates negotiations, handles disputes, and provides technical assistance to developing countries.

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    of 8

    WTO

    World trade organisation

    Presented by:
    Divya
    Divya Gupta
    Divyanshu Parashar
    Dr. Shubhangi Foujdar
    Dushyant Jayant
    History:

     Great depression in 1930s which started from U.S.A


     Following which Tariff war started and lead to World War 2.
     Bretton Woods conference held in 1944 lead to formation of IMF and World
    bank.
     GATT was signed by 23 nations in 1948.
     Officially commenced on 1st January 1995 under Marrakesh agreement.
     Signed by 123 nations in 1994.
     WTO had replaced GAAT (General agreement on tariffs and trade)
     Headquarter- is in GENEVA , Switzerland.
    Structure:
    Objectives:

     Promote world trade by reducing trade barriers.


     Improve living standards of people.
     To encourage production and trade of goods and services ,so that there is
    Optimal use of world’s resources.
     Implement new world trade agreements.
     To promote world trade in a manner that benefits every country.
    Functions of WTO:

     Administering WTO trade agreements


     Conducting Forum for trade negotiations
     Handling trade disputes
     Monitoring national trade policies
     Providing Technical assistance and training for developing countries
     Cooperation with other international organisations
    WTO vs GATT

    GATT WTO
     General agreement on trade and  World trade organization.
    tariff.  It is an organization.
     It is an agreement.
     It is concerned with goods.  It is concerned with goods, services
    and intellectual property.
     It was established on 1Jan 1948.
     It was established on 1Jan 1995.
     Member nation who signed this
    agreement are known as contracting  Participating parties are called
    parties. member nations.

     It was signed by 23 countries.  It was signed by 164 members.


     It is Permanent.
     It was Provisional.
    Criticism of WTO:

     Free trade benefits developed countries more than developing countries.


     Most favoured nation principle.
     Failure to reduce tariffs on agriculture.
     Diversification
     Environment
     Free trade ignores cultural and social factors
     The WTO is criticised for being undemocratic
     Slow progress
    THANK YOU

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