Forex Presentation on GATT and WTO

8/14/2019 Forex Presentation on GATT and WTO

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WTO &GATTPresented By:

Tanay Sinha



Aim at expanding competency of GATT to new areas.

Agriculture was one of theimportant part of the conference.



On umbrella agreement Agreements for each 3 broad areas of trade

that WTO covers. Dispute settlement

Reviews of government trade policies

CRITICISMS

By groups such as Oxfam NGO such as Health Gap and Global Trade

Watch





The Doha Declaration was approved by 142countries at the fourth Ministerial meeting of theWorld Trade Organization.

The agreement states that if a country is not in

full agreement with the proposed WTOdeclaration, it can be put out of discussions.

Its objective is to lower trade barriers aroundthe world, which allows countries to increase

trade globally. The outcome of the conference took into account

a number of concerns expressed by India.





Paragraph 1:“We recognize the gravity of public health

problems afflicting many developing and least developedcountries, especially those resulting from HIV/ AIDS,tuberculosis, malaria and other epidemics”.

Paragraph 2: “We stress the need for the WTO Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPsAgreement) to be part of the wider national and international

action to address these problems”. Paragraph 3: “We recognize that intellectual propertyprotection is important for the development of new medicines.We also recognize the concerns about its effects on prices”.

Paragraph 4: “The TRIPS Agreement does not and should notprevent members from taking measures to protect publichealth. Accordingly, reiterating our commitment to the TRIPS

Agreement, we affirm that the Agreement can and should beinterpreted and implemented in a manner supportive of WTOmembers’ right to protect public health and, in particular, topromote access to medicines for all”.



The agreements fall into a simple structure with six main parts:

An umbrella agreement (the Agreement Establishing the WTO) Agreements for each of the three broad areas of trade that the WTOcovers: goods and investment (the Multilateral Agreements on Trade in

Goods including the GATT 1994 and the Trade Related InvestmentMeasures (TRIMS), General Agreement on Trade in Services (GATS), andAgreement on Trade-Related Aspects of Intellectual Property Rights(TRIPS) Dispute settlement (DSU) and Reviews of government’s trade policies (TPRM).



It oversees the implementation, administrationand operation of the covered agreements.

WTO is also a center of economic research and

analysis.

WTO cooperates closely with the two othercomponents of the Bretton Woods system, the

IMF and the World Bank.





The WTO has 153 members, which represents more than95% of total world trade. The WTO is governed by a Ministerial Conference, which

meets every two years It has General Council, which implements the

conference's policy decisions and is responsible for day-

to-day administration director-general of WTO is appointed by the MinisterialConference.

The World Trade Organization deals with the rules of tradebetween nations at a near-global level; it is responsible fornegotiating and implementing new trade agreements, and

is in charge of policing member countries' adherence toall the WTO agreements, signed by the majority of theworld's trading nations and ratified in their parliaments.



Reduce distortions and impediments tointernational trade.

Smooth Functioning of IPR’s.

Resolve disputes on trade related IPissues.

To establish a mutually supportiverelationship between the WTO & WIPO.

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Non-discrimination features prominently in TRIPS, similarto GATT and GATS by following principles of:

National Treatment (Article 3): Equal treatment forforeign and domestic individuals and companies

Most Favored Nation (Article 4): Equal treatment fornationals of all trading partners in the WTO

TRIPS Agreement has additional important principle:Intellectual property protection should contribute totechnical innovation and transfer of technology

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COPYRIGHTS

TRADEMARKS

GEOGRAPHICAL INDICATIONS

INDUSTRIAL DESIGNS

PATENTS

LAYOUT DESIGN of INTEGRATED

CIRCUITS AND TRADE SECRETS



Setting minimum standards.

Enforcement

Dispute Settlement- TRIP’s, DSB, SS.

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Trade Related Investment Measures Agreement(TRIMS) came into effect on 1 January, 1995 aspart of the Uruguay Round negotiations.

It prohibited member countries making theapproval of investment conditional on compliancewith laws, policies or administrative regulationsthat favored domestic products.



Local content requirements where governmentsrequire enterprises to use or purchase domesticproducts.

Trade balancing measures where governments

impose restrictions on imports by an enterprise orlink the amount of imports to the level of its exports.

Foreign exchange balancing requirements where anenterprise has the level of imports linked to thevalue of its exports in order to maintain a net foreign

exchange earnings.



The lack of a precise definitionmeans that the issue is not alwaysclear cut and there has beenconsiderable disagreement as towhether or not certain measuresare covered by the Agreement.



9 developing countries have applied forextension of transition period in respect of certain TRIMs which had been notified bythem.

Members who have not notified TRIMs orhave not yet requested an extension are tobe pursued as a matter of priority, under the

aegis of the General Council, by theChairman of the Council for Trade in Goods.





There were several rounds of Negotiations under the GATT.

GATT trade rounds concentrated onfurther reducing tariffs.

The Kennedy Round in the mid-sixtiesbrought about a GATT antidumping.

The Tokyo Round during the seventieswas the first major attempt to tackletrade barriers that do not take the form

of tariffs.



These plurilateral agreements were notaccepted by the full GATT membership,they were often informally called"codes".

Several of these codes were amended inthe Uruguay Round, and turned intomultilateral commitments accepted by

all WTO members.

Only four remained plurilateral, but in

1997 WTO members agreed to terminate





THANK YOU

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Forex Presentation on GATT and WTO