START WITH THE NAME OF ALLAH ALMIGHTY

Presented To: Sir M.Imran

Presented By: Atieq-ur-Rehman (113374)

M.Rashid Altaf (113315)

Intro to Microeconomics

Introduction

Principles of the trading system

The Uruguay Round

The case for open trade

Introductory brochures

Flagship publications

Decision-making

Membership

Secretariat

WTO and other organizations

WTO and Pakistan

CONTENTS

What is WTO?

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.

The WTO’s work comes from the 1986–94 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the ‘Doha Development Agenda’ launched in 2001.

The Major Points :

-> Who we are

-> What we do

INTRODUCTION

The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities.

A closer look at these principles:

1) Trade without discrimination

2) Freer trade: gradually, through negotiation

3) Predictability: through binding and transparency

4) Promoting fair competition

5) Encouraging development and economic reform

PRINCIPLES OF THE TRADING SYSTEM

It took seven and a half years, almost twice the original schedule. By the end, 123 countries were taking part. It covered almost all trade, from toothbrushes to pleasure boats, from banking to telecommunications, from the genes of wild rice to AIDS treatments. It was quite simply the largest trade negotiation ever, and most probably the largest negotiation of any kind in history.

At times it seemed doomed to fail. But in the end, the Uruguay Round brought about the biggest reform of the world’s trading system since GATT was created at the end of the Second World War. And yet, despite its troubled progress, the Uruguay Round did see some early results. Within only two years, participants had agreed on a package of cuts in import duties on tropical products — which are mainly exported by developing countries. They had also revised the rules for settling disputes, with some measures implemented on the spot. And they called for regular reports on GATT members’ trade policies, a move considered important for making trade regimes transparent around the world.

THE URUGUAY ROUND

The economic case for an open trading system based on multilaterally agreed rules.

It is also supported by evidence. During the first 25 years after the war, world economic

growth averaged about 5% per year. Liberal trade policies. Success in trade is not static Experience shows that competitiveness can also shift

between whole countries

THE CASE FOR OPEN TRADE

WTO in brief:

The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

Understanding the WTO:

WTO is a place where member governments go, to try to sort out the trade problems they face with each other.

10 things the WTO can do:

-> Cut living costs and raise living standards

-> Settle disputes and reduce trade tensions

-> Stimulate economic growth and employment

INTRODUCTORY BROCHURES

-> Cut the cost of doing business internationally.

-> Encourage good governance.

-> Help countries develop.

-> Give the weak a stronger voice.

-> Support the environment and health.

-> Contribute to peace and stability.

-> Be effective without hitting the headlines.

CONTI………

Annual Report:

The WTO Annual Report provides a comprehensive overview of WTO activities over the past year and includes information on the WTO's budget and staffing.

World Trade Report:

The World Trade Report is an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system.

International Trade Statistics:

The WTO's databases and publications provide extensive access to trade and tariff data.

FLAGSHIP PUBLICATIONS

M.Rashid Proceed Further More

WTO organization chart:

WTO structure: all WTO members may participate in all councils, committees, etc. except Appellate Body and Dispute Settlement panels committees.

Ministerial conferences:

The topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions.

General Council:

The current chairperson is H.E. Mr. Shahid BASHIR (Pakistan).The General Council is the WTO’s highest-level decision-making body in Geneva, meeting regularly to carry out the functions of the WTO

DECISION-MAKING

Members:

Total members 159 up till  March 2, 2013 (with dates of membership).

Observers:

Afghanistan , Azerbaijan , Bhutan, Bosnia , Comoros, Holy See (Vatican) ,Iran, Iraq, Kazakhstan, Lebanese Republic, Liberia, Republic of, Libya, Sao Tomé and Principe, Serbia, Seychelles, Sudan, Syrian Arab Republic, Uzbekistan, Yemen.

Accessions:

Any state or customs territory having full autonomy in the conduct of its trade policies may become a member (“accede to”) the WTO, but all WTO members must agree on the terms.

GATT signatories:

On 1 January 1995, the WTO replaced GATT, which had been in existence since 1947, as the organization overseeing the multilateral trading system. The governments that had signed GATT were officially known as “GATT contracting parties”. Upon signing the new WTO agreements (which include the updated GATT, known as GATT 1994), they officially became known as “WTO members”.

MEMBERSHIP

Secretariat common purpose:

The responsibility of the WTO Secretariat is to provide top-quality, independent support to WTO member governments on all of the activities.

Role of the Secretariat:-

The WTO Secretariat, with offices only in Geneva, has 629 regular staff and is headed by a Director-General. Since decisions are taken by Members only, the Secretariat has no decision-making powers.

Budget:

The WTO derives most of the income for its annual budget from contributions by its Members. These are established according to a formula based on their share of international trade.

Consolidated WTO Budget for the year 2013: CHF 197,203,900

SECRETARIAT

IMAGE OF BUDGET

Procurement opportunities:

The WTO Procurement Section is responsible for obtaining, in a timely and cost-effective manner, goods and services which meet the needs of the organization. These goods and services include informatics software and hardware, security products and services, reprographic and publishing equipment and material, various consulting services, as well as goods and services related to the functioning of the WTO buildings in Geneva.

SECRETARIAT CONTI………..

The WTO works with a number of other international governmental organizations under the banner of “coherence”, a term originating in the “Decision on achieving greater coherence in global economic policy-making”, which ministers agreed in Marrakesh, April 1994.

The WTO maintains extensive institutional relations with several other international organizations; there are some 140 international organizations that have observer status in WTO bodies.

WTO Secretariat maintains working relations with almost 200 international organizations in activities ranging from statistics, research, standard-setting, and technical assistance and training

WTO AND OTHER ORGANIZATIONS

Pakistan is one of the founder Members of the WTO since 1995, and its predecessor organization the GATT set up in 1948.

Pakistan has been actively engaged in the Doha round of trade talks that were launched in the Qatari capital in November 2001. Aptly named the "Doha Development Agenda" (DDA).

Since 2001, there have two more ministerial conferences in Cancun in 2003 and Hong Kong in 2005 respectively.

There was a breakdown of talks in the summer of 2006 which led many observers to be skeptical of the entire process

sustained efforts by the membership led to a partial resumption of the talks in November 2006 and full resumption since January 2007 after the annual meeting of the World economic forum at Davos.

WTO AND PAKISTAN

This was the eleventh Trade Policy Review of the European Union and it attracted a lot of interest from WTO Members with well over one thousand questions were asked and responded by the EU.

As many delegations noted, the economic crisis in the EU has dominated developments over the past two years.

. It was also widely noted by delegations that, despite the crises, the EU has not resorted to introducing new protectionist measures which is a positive indication of both the strength of, and the EU's commitment to, the multilateral trading system.

Furthermore, as Peter Balas noted in his opening remarks, the recent accession of Croatia is "another sign that the EU, the current economic difficulties notwithstanding, remains a successful and attractive entity."

CONCLUDING REMARKS

REFERENCES:http://www.wto.org/english/the

wto_e/whatis_e/whatis_e.htmhttp://www.wto-pakistan.org/

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