What is the World Trade Organization? the World Trade Organization (WTO) deals with the rules of trade

between nations at a global or near-global level. But there is more to it than that.

Above all, it’s a negotiating forum ...

It’s a set of rules …   

And it helps to settle disputes …   

History

The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established

after World War II in the wake of other new multilateral institutions dedicated to international

economic cooperation – notably the Bretton Woods institutions known as the World Bank and

the International Monetary Fund. A comparable international institution for trade, named

the International Trade Organization was successfully negotiated. The ITO was to be a United

Nations specialized agency and would address not only trade barriers but other issues indirectly

related to trade, including employment, investment, restrictive business practices, and

commodity agreements. But the ITO treaty was not approved by the U.S. and a few other

signatories and never went into effect.[17][18][19]

In the absence of an international organization for trade, the GATT would over the years

"transform itself" into a de facto international organization.[20]

Principles & values • The trading system should be ... •  without discrimination — a country should not discriminate between its trading partners

(giving them equally “most-favoured-nation” or MFN status); and it should not discriminate between its own and foreign products, services or nationals (giving them “national treatment”);

•  freer — barriers coming down through negotiation; •  predictable — foreign companies, investors and governments should be confident that

trade barriers (including tariffs and non-tariff barriers) should not be raised arbitrarily; tariff rates and market-opening commitments are “bound” in the WTO;

•  more competitive — discouraging “unfair” practices such as export subsidies and dumping products at below cost to gain market share;

•  more beneficial for less developed countries — giving them more time to adjust, greater flexibility, and special privileges.

STRUCTURE The World Trade Organization came into being in 1995 successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of

the Second World War The WTO has 161 members, accounting for almost 95% of world trade. Around 25 others are

negotiating membership. The WTO’stop level decision-making body isthe Ministerial Conference which meets at least

once every two years. Below thisisthe General Council which meets several times in a year in the Geneva

headquarters. The General Council also meets asthe Trade Policy Review Body and the Dispute Settlement Body.

At the next level, the Goods Council, Services Council and Intellectual Property (TRIPS) Council report to the General Council. Numerous specialized committees, working groups and working parties deal with the individual agreements and other areassuch asthe environment, development, membership applications and regional trade agreements.

The Secretariat’s main duties are to supply technicalsupport for the various councils and committees and the ministerial conferences, to provide technical assistance for developing countries, to analyze world trade, and to explain WTO airsto the public and media.

THEORY : https://www.wto.org/english/thewto_e/whatis_e/tif_e/org1_e.htm

FACT FILE Location: Geneva, Switzerland Established : 1 January 1995 Created by : Uruguay Round negotiations (1986-94) Membership : 161 countries since 26 April 2015  Budget : 197 million Swiss francsfor Secretariat sta : 640 Head : Roberto Azevêdo (Director-Ge neral) Functions : Administering WTO trade agreements Forum for trade negotiations Handling trade disputes

Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations

WTO AGREEMENTS

SHORT T HEORY : https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm1_e.htm

TRIPS Origins: into the rule-based trade system.... Basic principles: national treatment, MFN, and balanced

protection How to protect intellectual property: common ground-

rulesTHEORY LINK : https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm7_e.htm

Three main featureso Standardso Enforcemento Dispute settlement

Substantive standards of protectiono Copyright o Trademarks o Geographical indicationso Industrial designso Patents o Integrated circuits layout designso Undisclosed information and trade secretso Curbing anti-competitive licensing contractso Technology transfero Transition arrangements: 1, 5 or 11 years or more

THEORY LINK :https://www.wto.org/english/tratop_e/trips_e/intel2_e.htm

Current issues in intellectual propertyo TRIPS and public healtho TRIPS, biodiversity, traditional knowledge, plants

and life formso Geographical indicationso ‘Non-violation’ complaintso Technology transfero Least developed countries’ priority needso Enforcement

THEORY LINK : https://www.wto.org/english/tratop_e/trips_e/trips_issues_e.htm