Role of WTO On January I, 1995, the first and most powerful world trade regulating agency, namely World Trade Organization (WTO) came into existence. The rules state how copyrights, patents, trademarks, geographical names used to identify products, industrial designs, integrated circuit layout designs and undisclosed information such as trade secrets “intellectual property” should be protected when trade is involved. 2. This sounds like a contradiction. Outline • From GATT to WTO • WTO: Objectives, main functions, coverage & scope of agreements, basic principles, membership, structure • Assessing WTO at 20…. The WTO agreements allow countries to introduce changes gradually, through foreign and domestic services, and to foreign and local trademarks, The WTO has nearly 153 members accounting for over 97% of world trade. All WTO members must undergo periodic scrutiny, each review containing reports by the country concerned and the WTO Secretariat. Before publishing your articles on this site, please read the following pages: 1. This is typically by consensus. Below this is the General Council (normally ambassadors and heads of delegation in Geneva, but sometimes officials sent from members’ capitals) which meets several times a year in the Geneva headquarters. Content Guidelines 2. The current sets were the outcome to the 1986-93 Uruguay Round negotiations which included a major revision of the original General Agreement on Tariffs and Trade (GATI). The WTO system contributes to development. No Most Favoured Nation (MFN) Treatment - no special deals to trading partners, all members of WTO must be treated the same 2. The WTO regime is known as the rules-based multilateral trading system. Frequently this is the case in developing countries. the negotiation function of the WTO and increase the potential of committee-related work, in particular in view of agenda-setting and preparation for rule-making. The organizational structure of WTO: The basic structure of the WTO consists of the following bodies: Ministerial Council, It consists of international trade ministers of all member countries. The MFN principle ensures that each country treats its At the next level, the Goods Council, Services Council and Intellectual Property (TRIPs) Council report to the General Council. The secretariat also provides some forms of legal assistance in the dispute settlement process and advises governments wishing to become members of the WTO. The system tries to improve predictability and stability in other ways as well. Agreement on Tariffs and Trade (GATT), which governs trade in goods. The rules on non-discrimination — MFN and national treatment 1. The issues are complex, and the rules try to establish what is fair or unfair, and how governments can respond, in particular by charging additional import duties calculated to compensate for damage caused by unfair trade. No National Special Treatement - locals and foreigners are treated equally 2. WTO positively contributes to international trade in many ways. The multilateral trading system is an attempt by governments to make the business environment stable and predictable. — whether rich or poor, weak or strong. “progressive liberalization”. INTRODUCTION “ the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Opening markets can be beneficial, but it also requires adjustment. What are the principles of WTO? Read this article to learn about the World Trade Organization (WTO) and its objectives and functions! The World Trade Organisation (WTO) is the only body making global trade rules with binding effects on its Members. 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