1. WTO & GATT Presented by- Sandeepsingh Sandeepkumar SatyaRawat Shachi Sharma

3. Restrictions-safegaurd their interest

4. Oct 30 1947,23 countries at Geneva signed an agreement-GATT

5. Following World War II, the victor nations sought to create institutions that would eliminate the causes of war.

6. Their principles were to resolve or prevent war through the United Nations and to eliminate the economic causes of war by establishing three international economic institutions.

7. Objectives of GATT To provide equal opportunities to all countries in terms of trade in international market Increase effective demand for real income growth goods Minimize tariffs and other restrictions on trade Provide amicable solutions to dispute related to international trade Ensure better living standard

8. AND GATT,1947 – Because the ITO was stillborn the provisional agreement for the ITO, the General Agreement on Tariffs and Trade (GATT) became the agreement and the organization for establishing and enforcing, through dispute settlement, the international trade rules. – In 1995 this agreement on trade in goods became the World Trade Organization

10. WTO , World Trade Organization was established in 1995 with its origins in the Bretton Woods Conference at the end of World War II.

11. The creation of a new international monetary system that would support postwar reconstruction, economic stability, and peace.

12. Two of the most important international economic institutions of the postwar period: the International Monetary Fund (IMF) and the International Bank for Reconstructionand Development (the World Bank) was established. INTRODUCTION OF WTO

14. They spell out the principles of liberalization, and the permitted exceptions.

15. They include individual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets.

16. They set procedures for settling disputes.

17. They prescribe special treatment for developing countries.

21. WTO’S top level decision making body is the “Ministerial Conference”.

22. The second level is the “General Council’( normally head by the ambassadors & delegations ).

23. The General Council also meets the Trade policy Review Body and the ‘Dispute settlement body’

25. The current set of agreements are the result of 1986-1994 Uruguay round of negotiations,which is a revision of GATT.

28. The GATT has become WTO’s umbrella agreement for trade in goods.

29. It also deals with sectors such as agriculture and textiles, and with specific issues such as state trading, product standards, subsidies and anti-dumping actions. NOTE: Nondiscrimination: The policy of treating all of one’s trading partners equally. A country is practicing nondiscrimination if it charges the same tariff on imports of a product (for example, 5 percent on shoes) without regard to where the product is made.

32. Areas of Uruguay Round Multilateral trade agreements & arrangement Subsidies Dispute settlement Trade related aspects of intellectual property rights (TRIPs) TRIMS

33. MFA At the General Agreement on Tariffs and Trade (GATT) Uruguay Round, it was decided to bring the textile trade under the jurisdiction of the World Trade Organization. The Agreement on Textiles and Clothing provided for the gradual dismantling of the quotas that existed under the MFA. This process was completed on 1 January2005. However, large tariffs remain in place on many textile products. Bangladesh was expected to suffer the most from the ending of the MFA, as it was expected to face more competition, particularly from China. However, this was not the case. It turns out that even in the face of other economic giants, Bangladesh’s labor is “cheaper than anywhere else in the world.” While some smaller factories were documented making pay cuts and layoffs, most downsizing was essentially speculative – the orders for goods kept coming even after the MFA expired. In fact, Bangladesh's exports increased in value by about $500 million in 2006.

34. THANK YOU