VARIOUS TRADE ORGANISATIONS

REGIONAL & INTERNATIONAL AGREEMENTS

MMA 3RD SEMESTER RETAIL

Shahnawaz Islam Ghousia Islam Shreya Banerjee Farhin

WHAT IS INTERNATIONAL TRADE?

It Is The Exchange Of Goods & Services Between Countries.

WHAT ARE TRADE ORGANISATIONS FOR?

Trade organizations are voluntary associations between countries, formed with the purpose of liberalizing or opening trade between those countries. This is done with the intention of providing economic benefit to all countries involved.

General Agreement on Tariffs and Trade (GATT)

The General Agreement on Tariffs and Trade (GATT) is a multilateral agreement regulating international trade. It was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organisation (ITO).

GATT was signed in 1947 and lasted until 1993, when it was replaced by the World Trade Organisation in 1995.

Name
Geneva Annecy Torquay Geneva II

Year
April 1946 April 1949 Septembe r 1950 January 1956 Septembe r 1960

Countrie Subjects covered s

23 13 38 26 Tariffs Tariffs Tariffs Tariffs, admission of Japan

Achievements
Signing of GATT, 45,000 tariff concessions affecting $10 billion of trade Countries exchanged some 5,000 tariff concessions Countries exchanged some 8,700 tariff concessions, cutting the 1948 tariff levels by 25% $2.5 billion in tariff reductions Tariff concessions worth $4.9 billion of world trade Tariff concessions worth $40 billion of world trade Tariff reductions worth more than $300 billion dollars achieved

Dillon

26
62 102

Tariffs
Tariffs, Anti Dumping Tariffs, non-tariff measures, "framework" agreements

Kennedy May 1964 Tokyo Septembe r 1973

Uruguay

Septembe r 1986

123

The round led to the creation of WTO, and extended the range of trade negotiations, leading Tariffs, non-tariff measures, rules, to major reductions in tariffs (about 40%) and services, intellectual property, agricultural subsidies, an agreement to allow full dispute settlement, textiles, access for textiles and clothing from developing agriculture, creation of WTO, etc. countries, and an extension of intellectual property rights. Tariffs, non-tariff measures, agriculture, labour standards, environment, competition, The round is not yet concluded. investment, transparency, patents etc.

Doha

Novembe r 2001

141

Reason for GATT failure

Discriminated against developing countries Agriculture was treated as a special. Though developed countries removed majority of tariff barriers yet some others still remained. US and EEC had concluded several bilateral , discriminatory and restrictive arrangements outside GATT rules. It lacked enforcing mechanism GATT rules devised half a century ago had outlived their utility.

World Trade Organization (WTO) :

The World Trade Organization (WTO) is an organization that intends to supervise and liberal international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing GATT.

Objectives of WTO :
Trade negotiations Implementation and monitoring Dispute settlement Building trade capacity To promote World Trade in a manner that benefits every country To enhance competitiveness among all trading partners so as to benefit consumers and help in global integration.

TRIMS:
The Agreement on Trade Related Investment Measures (TRIMs) are rules that apply to the domestic regulations a country applies to foreign investors, often as part of an industrial policy . The agreement was agreed upon by all members of the World Trade Organization .

It is the name of one of the four principal legal agreements of the WTO trade treaty. TRIMs are rules that restrict preference of domestic firms and thereby enable international firms to operate more easily within foreign markets.

TRIPS:
The Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) is an international agreement administered by the World Trade Organization (WTO) that sets down minimum standards for many forms of intellectual property (IP) regulation as applied to nationals of other WTO Members.

The TRIPS agreement introduced intellectual property law into the international trading system for the first time and remains the most comprehensive international agreement on intellectual property to date.

United Nations Conference on Trade and Development(UNCTAD)

The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as a permanent intergovernmental body. It is the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues.

Main functions of UNCTAD :

To promote international trade . To formulate principles and policies on international trade and related problems of economic development. To make proposal for putting policies into effect. To review and facilitate . To be available as a centre for harmonious trade and related documents in the development policies of governments

International Monetary Fund (IMF)

The International Monetary Fund (IMF) is an international organisation of 188 countries (as of April 2012), that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity the IMF works to improve the economies of its member countries and facilitate international trade.

What are Trade Agreements ?

A trade agreement is a wide ranging tax, tariff and trade pact that often includes investment guarantees.
Regional Trade Agreements International Trade Agreements

Regional Trade Agreements

Regional trade agreements (RTAs) have become increasingly prevalent since the early 1990s. As of 15 January 2012, some 511 notifications of RTAs (counting goods and services separately) had been received by the GATT/WTO. Of these, 319 were in force. What all RTAs in the WTO have in common is that they are reciprocal trade agreements between two or more partners.

What is a Trade Bloc ?

A trade bloc is a type of intergovernmental agreement , often part of a regional intergovernmental organization , where regional barriers to trade , (tariffs and non-tariff barriers) are reduced or eliminated among the participating states

European Union (EU)

The EU is the worlds largest trading bloc, and second largest economy, after the USA.
The EU is the world's largest trading block, which makes it one of the key players in the World Trade Organisation. In the WTO, the European Commission negotiates on behalf of the 27 countries of the European Union

The initial aim was to create a single market for goods, services, capital, and labour by eliminating barriers to trade and promoting free trade between members.

ASEAN Free Trade Area (AFTA) Asia-Pacific Trade Agreement (APTA) Central European Free Trade Agreement (CEFTA) Common Market for Eastern and Southern Africa (COMESA) G-3 Free Trade Agreement (G-3) Greater Arab Free Trade Area (GAFTA) Gulf Cooperation Council (GCC) North American Free Trade Agreement (NAFTA) South Asia Free Trade Agreement (SAFTA)

North American Free Trade Agreement (NAFTA)

The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.

The goal of NAFTA was to eliminate barriers to trade and investment between the US, Canada and Mexico.

Asean Free Trade Agreement (AFTA)

Asean Free Trade Agreement (AFTA) is a trade bloc agreement by the Association of Southeast Asian Nations supporting local manufacturing in all ASEAN countries.

The primary goals of AFTA seek to: Increase ASEAN's competitive edge as a production base in the world market through the elimination, within ASEAN, of tariffs and non-tariff barriers; and Attract more foreign direct investment to ASEAN.

Latin American Free Trade Association Agreement (LAFTA)

The Latin American Free Trade Association (LAFTA) was created in the 1960 Treaty of Montevideo by Argentina, Brazil, Chile, Me xico, Paraguay ,Peru , and Uruguay .

The goal of the LAFTA is the creation of a free trade zone in Latin America. It should foster mutual regional trade among the member states, as well as with the US and Canada , the Pacific Union , the African Union , and the European Union .

South Asian Free Trade Agreement (SAFTA)

The South Asian Free Trade Area or SAFTA is an agreement reached on 6 January 2004 at the 12th SAARC summit in Islamabad ,Pakistan.

The seven foreign ministers of the region signed a framework agreement on SAFTA to reduce customs duties of all traded goods to zero by the year 2016. The objective of the agreement is to promote good competition in the free trade area and to provide equitable benefits to all the countries involved in the contracts.

Asia Pacific Trade Agreement (APTA)

The Asia-Pacific Trade Agreement (APTA), previously named the Bangkok Agreement , signed in 1975 as an initiative of ESCAP, is a preferential tariff arrangement that aims at promoting intraregional trade through exchange of mutually agreed concessions by member countries. It is the oldest preferential trade agreement between developing countries in the Asia-Pacific region. Its aim is to promote economic development and cooperation through the adoption of mutually beneficial trade liberalization measures.

Comprehensive Economic and Trade Agreement (CETA)

The Comprehensive Economic and Trade Agreement (CETA) is a proposed free trade and copyright agreement between Canada and the European Union . CETA is Canada's biggest bilateral initiative since NAFTA .

Free Trade Agreement

A free-trade area is a trade bloc whose member countries have signed a free-trade agreement (FTA), which eliminates tariffs, import quotas, and preferences on most (if not all) goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be considered an open border. It can be considered the second stage of economic integration. Countries choose this kind of economic integration if their economical structures are complementary.

International Agreements :
World Trade Organization agreements: General Agreement on Tariffs and Trade Agreement on Agriculture Agreement on the Application of Sanitary and Phytosanitary Measures Agreement on Technical Barriers to Trade Agreement on Trade Related Investment Measures Agreement on Anti-Dumping Agreement on Customs Valuation Agreement on Import Licensing Procedures Agreement on Subsidies and Countervailing Measures Agreement on Safeguards General Agreement on Trade in Services Agreement on Trade-Related Aspects of Intellectual Property Rights Agreement on Government Procurement Information Technology Agreement

Thank You !!