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ORGANISATION OF WTO
After second world war ,many countries got down together to work on ways and means to promote international trade. The result was the signing of General Agreement on Tariff and Trade (GATT) by 23 countries in 1947. INDIA was one of the founder members of GATT. GATT was concerned with the promotion of International Trade through tariff reductions, doing away with non-discriminatory practices among trading partners, and evolving rules to counter protectionism.
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ORGANISATION OF WTO (Contd)

GATT laid down, that this task would be accomplished in different Rounds of Trade Negotiations to be held from time to time. In all, eight Rounds of Multilateral Trade Negotiations (MTNs) were held under the auspices of GATT. The Final Act was signed in April 1994 by the member nations of GATT and this paved the way for the setting up of WTO.
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ORGANISATION OF WTO (Contd)

The WTO Agreement was signed by 104 member nations of GATT and it came into force from january 1, 1995. Thus WTO was set up on january 1, 1995. The present membership of WTO is 148 countries.

INTRODUCTION
The purpose of WTO is to remove restrictions in international trade. WTO is designed to play the role of a watchdog in the spheres of TRADE IN GOODS,SERVICES,INTELLECTUAL PROPERTY RIGHTS etc

INTRODUCTION (Contd)
WTO shall provide the common institutional framework for the conduct of trade relations among its members in matters related to the Agreements and associated legal instruments included in the annexes to this Agreement.

FUNCTIONS OF WTO
WTO shall facilitate the implementation, Administration, Operation and further the objectives of this Agreement and of the Multilateral Trade Agreements.

WTO shall provide the forum for negotiation among its members concerning their Multilateral Trade Relations in matters dealt with under the Agreements in the annexes.
It must consider trade policy review mechanism.
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FUNCTIONS (Contd)
With a view to achieving greater coherence in global economic policy making, The WTO shall cooperate as appropriate with IMF for Reconstruction & Development of its annexes. WTO shall administer the understanding on Rules &Procedures governing the Settlement of Disputes.
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WTO AGREEMENTS
AGREEMENT ON AGRICULTURE (AOA) AGREEMENT ON TRADE IN TEXTILES & CLOTHING (Multi-Fiber Arrangements)

AGREEMENT ON MARKET ACCESS

AGREEMENT ON TRIMs(Trade Related Investment Measures) AGREEMENT ON TRIPs (Trade Related Intellectual Property Rights)
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BENEFITS FOR INDIA

Benefit from expansion in trade. Benefits from phasing out of the MFA. Improved prospects for Agricultural Exports. Benefits from multilateral rules &disciplines.

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CRITICAL REVIEW OF WTOs WORKING

1. INEQUALITY WITHIN THE STRUCTURE OF WTO: a. single undertaking framework was adopted under the Uruguay round of negotiations which required every country to accept it, irrespective of its level of economic development.

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CRITICAL REVIEW (Contd)

b. The TRIPs Agreements require all WTO members to adhere to same Intellectual Property Rights Standards which have already been achieved in developed countries. c. The disputes settlements mechanism of WTO is by its very nature biased in favor of the rich.
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CRITICAL REVIEW (Contd)

2. Trade Related Intellectual Property Rights: a. Protection of IPRs is itself, a barrier to trade. b. Issue of concerns is, traditional Medicine (TM) which plays crucial role in developing countries & is the only affordable treatment available to poor people.

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CRITICAL REVIEW (Contd)

3. Trade Related Investment Measures: a. In order to make the agreement balanced from the point of view of developing countries, it was necessary to formulate international rules for controlling restrictive business practices of Foreign investors. But TRIMs Agreement is totally silent on it.
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SINGAPORE ISSUES
THE Four issues which are known as the Singapore Issues are: INVESTMENT COMPETITION POLICY GOVERNMENT PROCUREMENT TRADE FACILITATION
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SINGAPORE ISSUES BEING OPPOSED

1. There is no single accepted view on various elements of Investment including scope & definition, transparency, dispute settlement etc 2. The need for a Multilateral Agreement on investment itself is not clear. 3. Government interventions is necessary to ensure that FDI is guided by the overall policy goals &has a positive developmental impact.
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Contd
4. Given the little experience that developing countries have in dealing with competition policy even at national level, it is premature to consider a multilateral framework. 5. Multilateral rules, binding in nature, regarding the transparency in government procurement are likely to take away valuable development policy space from government.
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FEATURES OF DOHA DECLARATION

LAUNCH OF A NEW ROUND OF NEGOTIATION TRIPs & PUBLIC HEALTH AGRICULTURAL SUBSIDIES MARKET ACCESS FOR INDUSTRIAL PRODUCTS ENVIRONMENT & LABOUR ISSUES SINGAPORE ISSUES
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CANCUN FIASCO ISSUES:

LIBERALIZATION OF AGRICULTURE

DEVELOPING NEW MULTILATERAL DISCIPLINES ON THE SINGAPORE ISSUES

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