History and Members Differences between GATT and WTO Organizational structure Activities or Functions Benefits

WORLD TRADE ORGANIZATION

What is WTO?

Global international organization Multilateral trading system

Huge growth in world trade

NEGOTIATIONS

Tariff Reductions Anti dumping Non tariff measures Telecommunication services Tariff free trade in information technology

products Financial services Agriculture and services

General Agreement on Tariffs &Trade

Depression of 1930’s international trade was badly affected.

30 October 1947,23 countries at Geneva signed and agreement-GATT.

GATT is code of rules in which country discuss and resolve their trade dispudes negotiade to enlarge world traiding opportunities.

GATT goal of the founders was to liberalize world trade-reducing protective tariffs.

Led to the creation of the WTO and new set of trade agreements.

How is the WTO different from GATT?

TURKEY and the WTO;

Turkey has been a member of WTO since 26 March 1995.

Turkey has the status of a developing country in the WTO system.

To note that Turkey’s EU candidate country status has a crucial effect on its policy options in the WTO.

It is not an exaggeration to say that the WTO directly impacts our daily lives.

WTO policy of TURKEY;

Opportunity to analyze Turkish economy in a comprehensive manner.

Trade and investment policies, measures and implementations were scrutinized,

By the international community especially through the successful macroeconomic policies pursued during the global crisis and the resulting growth rate and trade volume.

Activities or Functions of WTO

Administering WTO trade agreements Trade negotiations Handling trade Monitoring national trade policies Technical assistance and training for developing

countries Cooperation with other international organizations Manage and implement the trade negotiations

The Ten Benefits Of WTO

Helps promote peace Handled constructively Life easier for all Trade cuts the costs of living More choice of products and qualities Raises incomes Stimulates economic growth Life more efficient Shielded from lobbying Encourages good government

 Criticisms of the WTO

Free Trade benefits developed countries more than developing countries

Diversification Environment Free trade ignores cultural and social factors The WTO is criticised for being undemocratic

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