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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 worlds trading
nations and ratified in their parliaments. The
goal is to help producers of goods andservices, exporters, and importers conduct
their business.
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...In brief, the World Trade Organization
(WTO)
is the only international organizationdealing with the global rules of trade
between nations.
..Its main function is to ensure that tradeflows as smoothly, predictably and freely as
possible.
From the money in our pockets and the goods
and services that we use, to a more peaceful world
the WTO and the trading system offer a range of
benefits, some well-known, others not so obvious.
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.....Austria's participation
in the WTO. Austria has
been a WTO membersince 1 January 1995. It is
a member State of the
European Union (more
info). All EU member
States are WTO
members, as is the EU
(until 30 November
2009 known officially in
the WTO as theEuropean Communities
for legal reasons) in its
own right.
AUSTRIAAN IMPORTANT MEMBER OF WTO
http://www.wto.org/english/thewto_e/countries_e/european_communities_e.htmhttp://www.wto.org/english/thewto_e/countries_e/european_communities_e.htm -
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11 May 2010:Austria offered EUR200,000 to WTO
training programme for developing countries.
4 December 2009:Trade is the stimulus package
available to developing countries Lamy.
23 July 2009:Austria donates EUR 200,000 to WTO
trust fund to assist developing countries.
Latest about AUSTRIA
ANd WTO.
http://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/pres09_e/pr568_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/sppl_e/sppl143_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htmhttp://www.wto.org/english/news_e/pres10_e/pr603_e.htm -
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AUSTRIA ANd WTO........Austria is convinced that the most important
trade policy instrument for promoting growth on a
global scale is the rapid conclusion of anambitious, balanced and comprehensive DohaRound. In times of increasingly globalizedmarkets transparent, predictable global rulesunder the WTO system and a further reduction ofobstacles to trade in goods and services are ofhighest value. As an EU Member, Austria fullysupports the EU objectives in the Doha Round.
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Austria has undertaken a range of policy
measures to contain the problems arisingfrom the financial sector and to stimulate theeconomy, in particular by spurring domesticdemand (e.g. car-scrapping scheme, personalincome tax cuts and support for climate-friendly renovation) and by facilitating accessto export finance. It has also invested in
infrastructure and promoted employment toalleviate the crisis. These measures havealready shown first results.
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In future, WTO must continue to be ready totackle new issues in line with its principal role, inparticular by: strengthening trade in increasinglyintegrated markets in line with business needs,taking into account all aspects of sustainabledevelopment (an issue which is of highimportance for Austria) and enhanced coherencewith other relevant international organizations.
For instance, WTO can help to address thepressing needs with reference to climate changeby liberalising trade in environmental goods andservices.
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Austrian Federal Minister for Economic Affairs and
Labour Dr. Martin Bartenstein and WTO Director
General Dr. Supachai Panitchpakdisigned theMemorandum of Understanding on Austrias
contribution during the opening day of the Fifth
WTO Ministerial Conference in Cancn, Mexico.For
the second time, Austria makes a substantialcontribution to the DDA Global Trust Fund, Minister
Bartenstein said. Announcements by leaders of the
developed world should be followed by concrete
action, he added. We strongly support the ideathat developing countries should be offered a level
playing field through a joint effort to build up their
capacities. I am, therefore, proud that my country
contributes 310.000 Swiss francs to the Fund.
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The 10 benefits :-
1. The system helps promote peace
2. Disputes are handled constructively
3. Rules make life easier for all
4. Freer trade cuts the costs of living
5. It provides more choice of products and qualities
6. Trade raises incomes
7. Trade stimulates economic growth8. The basic principles make life more efficient
9. Governments are shielded from lobbying
10. The system encourages good government
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1.The system helps to keep the peace : Thissounds like an exaggerated claim, and it would be wrongto make too much of it. Nevertheless, the system does
contribute to international peace, and if we understand
why, we have a clearer picture of what the system
actually does.
2. The system allows disputes to be handled
Constructively:As trade expands in volume, in the
numbers of products traded, and in the numbers of countriesand companies trading, there is a greater chance that
disputes will arise. The WTO system helps resolve thesedisputes peacefully and constructively.
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3. A system based on rules rather than power
makes life easier for all: The WTO cannot claim tomake all countries equal. But it does reduce some
inequalities, giving smaller countries more voice,and at
the same time freeing the major powers from the
complexity of having to negotiate trade agreements witheach of their numerous trading partners.
4. Freer trade cuts the cost of living : We are allconsumers. The prices we pay for our food and clothing,
our necessities and luxuries, and everything else inbetween, are affected by trade policies.
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5. It gives consumers more choice, and a broader
range of qualities to choose from :Think of all the thingswe can now have because we can import them: fruits
and vegetables out of season, foods, clothing and other
products that used to be considered exotic, cut flowers
from any part of the world, all sorts of household goods,
books, music, movies, and so on.
6. Trade raises incomes : Lowering trade barriers allows
trade to increase, which adds to incomes national
incomes and personal incomes. But some adjustment is
necessary.
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7. Trade stimulates economic growth,
and that can be good news for employment :Trade
clearly has the potential to create jobs. In practice there
is often factual evidence that lower trade barriers have
been good for employment.But the picture is complicated
by a number of factors.The alternative protectionismis
not the way to tackle employment problems.
8.The basic principles make the systemeconomically more efficient, and they cut costs :Many
of the benefits of the trading system are more difficult to
summarize in numbers, but they are still important. Theyare the result of essential principles at the heart of the
system, and they make life simpler for the enterprises
directly involved in trade and for the producers of goodsand services.
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9. The system shields governments from
narrow Interests :The GATT-WTO system whichevolved in the second half of the 20th Century helps
governments take a more balanced view of trade
policy. Governments are better placed to defend
themselves against lobbying from narrow interest
groups by focusing on trade-offs that are made in the
interests of everyone in the economy.
10.The system encourages good government :Under WTO rules, once a commitment has been
made to liberalize a sector of trade, it is difficult toreverse. The rules also discourage a range of unwise
policies. For businesses, that means greater certainty
and clarity about trading conditions. For governments
it can often mean good discipline.
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Thank you..!