WORLD TRADE ORGANISATION

Dolly Modi Kanika Sindhu Jatin Harjai Jagmohan Sansanwal

WTO
BRIEF HISTORY

International Trade Organization (ITO) after WW-II thought of -1945 Diluted version of ITO GATT*established -1947/8 (*general agreement on tariff & trade) Many rounds of GATT negotiation. The Uruguay Round (1993) leads to World Trade Organization (WTO) With 125 Countries In -1994 at Marrakech

Important meetings
GATT rounds Kennedy round 1967 Tokyo round 1979 Uruguay round 1993 Ministerial meets Singapore 9-13 dec 1996 Geneva 18-20 may 1998 Seattle 30 nov- 3 dec 1999 Doha 8-12 nov 2001 ( 144th member entered ) Cancun sept 2003

FUNDAMENTAL PHILOSOPHY

Rule based International trading System

Member driven Organization Trade with global market access at competitive price of best quality product Protection only through Tariff Trade Liberalization MFN to all members Quantity and quota restricted General agreement on trade & services (GATS)

SUSTAINABLE DEVELOPMENT THROUGH GLOBALISATION

Integrating Nepalese economy to global economy

Strengthening domestic policies and institutions gear up for MFN Credibility and stability of policies to the outsiders Extended and secured market Enhancing capability

IMPORTANT WTO AGREEMENTS

Agriculture Trade Related Aspects of Investment Measures Trade in Services Trade Related Aspects of Intellectual Property Rights Textiles and Clothing

Anti-Dumping
Trade in Goods

STRENGTHS & OPPORTUNITIES

Part of global family of trade and legislation

Global market access

Completed most accession requirements Diversification of products and markets possible Priority to LDCs
SAPTA / SAFTA / QUADRANGLE / REGIONAL

Inherent & Indigenous Products

Dispute settlement mechanism

WEAKNESS & THREATS

Small economy / limited resources

Lack competitive & comparative edge

Lack of capital, technology & H.R. Big players in competition Weak implementation & Traditional approach Global compact Brain drain Opening of trade and investment boundaries

Present drive

Awareness and campaign Building capacity viz.capital,technology and skill Political commitments Administrative reforms System compatibility Radical changes for competitiveness Cross society's support Horizontal & vertical diversification

Potential Area

MODERN AGRI FARMING INTELLECTUAL PROPERTIES BIO DIVERSITY (HERBS,FORESTRY,AYURVED,SPICES) TOURISM

(FLORA,FAUNA,HEALTH,SPORTS,RELIGIOUS,EDUCATION,SAARC HUB)

FINANCIAL & OFFSHORE CENTER SERVICE SECTOR & SEZ INFORMATION TECHNOLOGY HUMAN RESOURCES ENERGY POWER GLOBAL LANDMARKS (MT.EVEREST,LORD BUDHA, SITA)

FUTURE COURSE

TRIPS (patent Copyrights, Trademark Designs, Geographical Indications) - new laws and implementation required Rule based transparent business Agriculture - Protecting the rights of Farmers Opening of the diverse, new & service sector

Technical assistance for enhancing competitive strength

Identification and development of thrust \ core sectors Competition Law & facilitating mechanism Investment friendly law & policy Transparency in govt. procurements Safeguard measures anti dumping \ counter veiling duty