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Deepika Rajput
Priya Mishra
Abhay Sakhare
Darshan Parkar
Sonal Shinde
Shruti Vanmali
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The World Trade Organization (WTO) Is AnInternational Organization Designed ToSupervise And Liberalize International
Trade.
WTO Deals With Regulation Of TradeBetween Participating Countries.
The WTO has 153 members, representingmore than 97% of total world trade and 30observers, most seeking membership.
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The General Agreement On Tariffs And Trade
(GATT), Was Established After World War II.
The GATT was the only multilateralinstrument governing international trade
from 1948 until the WTO was established in
1995.
The GATT still exists as the WTO's umbrella
treaty for trade in goods, updated as a result
of the Uruguay Round negotiations
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GATT rounds of negotiations
From Geneva to Tokyo
Uruguay Round
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WTO Ministerial Conference of 1996
WTO Ministerial Conference of 1998
WTO Ministerial Conference of 1999
WTO Ministerial Conference of 2005
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Doha Round
WTO Ministerial Conference Of 2000
WTO Ministerial Conference Of 2001
WTO Ministerial Conference Of 2003
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Non-Discrimination
Reciprocity
Binding and enforceable commitments
Transparency.
Safety valves
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Council for Trade in Goods
Council for Trade-Related Aspects
Intellectual Property Rights
Council for Trade in Services
Other committees
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WTO As The Central Pillar Of The
Multilateral Trading System.
If Members Violate Trade Rules, They
Use Multilateral System Of SettlingDisputes.
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WTO Member Is Unique To Each ApplicantCountry.
Accession Are Dependent Upon TheCountry's Stage Of Economic DevelopmentAnd Current Trade Rule.
The Process Takes About FiveYears.
An Offer Of Accession Is Only Given OnceConsensus Is Reached Among Interested
Parties.
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A Country Wishing To Accede Submits AnApplication To The General Council.
The Application Is Submitted In AMemorandum Which Is Examined By AWorking Party.
The Working Party Focuses On Issues Of
Discrepancy.
The Final Phase Involves BilateralNegotiations.
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WTO has 153 members.
A number of non-members (30) areobservers are currently negotiating
their membership
14 states and 2 territories so far haveno official interaction with the WTO.
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Agreement on Agriculture (AoA)
General Agreement on Trade in
Services (GATS)
Trade-Related Aspects of Intellectual
Property Rights Agreement (TRIPs)
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Sanitary and PhytoSanitary (SPS)
Agreement
Agreement on Technical Barriers to
Trade (TBT)
Agreement on Customs Valuation
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WTO Grew Out Of The GATT Which
Successfully Developed & Oversaw
GlobalTrading
It Is Less Diplomatic & MoreLegalisticThan The GATT Was.
Much Of This Interest & Concern Is
Sparked By The WTOs Dispute
Settlement Procedures
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