Скачать с ютуб World Trade Organization в хорошем качестве

World Trade Organization

World Trade Organization (WTO) We have seen about United Nations in our first few lessons on this International Organization series. In this lesson we are going to see about a closely relative organization WTO that controls the inter country trade relationships across the Globe. We are also going to • It was Officially commenced on 1 January 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948 • It is an organization that intends to supervise and liberalize international trade • Its HQ is situated in – Geneva, Switzerland • Its Official languages are – English, French, Spanish Evolution of WTO WTO Structure Ministerial Conference General Council Director General ________________________________________ Important Terms before Understanding Functions of WTO All countries want to protect domestic industries and prevent entry of foreign players. So, they create two types of barriers to International trade viz. • Tariff Barriers → When Govt. puts heavy import duty / custom duty on Foreign Products which protects domestic players from competition from foreign players • Non-Tariff barriers → When Domestic players are given subsidies / preference over the foreign players by Govt. for Ex. • When Govt. is buying some Phones/ Xerox Machines, in the tender it’ll mention that only Domestic companies are allowed. • Making polices in a way that it’s hard for foreign player to start factory / introduce his product in India • Key Functions of WTO • Reduce above stated barriers to international trade – both tariff barriers and non-tariff barriers & Get the members enter into multilateral trade agreements. • There are two Safety Protection Agreements with regards to Tariff & Non-Tariff Barriers Non-food products Technical Barriers to Trade Agreement (TBT) →Based on Quality & Durability Food Products Sanitary and Phytosanitary Measures Agreement (SPS) → Based on Hygiene & Quality WTO Agreements GATT - General Agreement on Trade & Tariffs TBT - Barriers to Trade Agreement SPS - Sanitary and Phytosanitary Measures Agreement TRIMS - Agreement on Trade-Related Investment Measures SCM -Agreement on Subsidies and Countervailing Measures ________________________________________ Agreement on Agriculture, WTO wants to  Reduce import duty  Reduce export subsidies  Reduce Amber box subsides (Domestic subsidies) Amber Box: De Minimus limits  The minimal amounts of Amber box subsides permitted by WTO, even though they distort trade  Calculated on the agriculture production of the given member state in 1986-88  Limits – Developed ( 5%), Developing (10%), Least Developed (Exempted) India’s stand  In 1986: USA agriculture production was far ahead of India. So, their 5% De-Minimus quota will be far bigger than our 10% quota (in absolute figures).  Input costs have skyrocketed in these decades. But, De-Minimus doesn’t consider inflation factor. Bali summit and Peace clause (Indonesia) Trade Facilitation Agreement To cut down the red tape in customs clearance LDC Exports Exporters from Least developing countries, will get Duty free, quota free (DFQF) access to markets in foreign countries Food stockholding Led to Peace clause Peace clause  No member, can drag any developing country to Dispute settlement mechanism of WTO for violation of De-Minimus limits in AoA, Provided that the said developing country -  Is paying subsidies for staple food crops for public stockholding program & food security purpose.  Is providing annual information of its food security Program to WTO. Trade facilitation agreement (TFA)  Member nations to publish a detailed list of procedure for import-export, fees, inspection rules, penalties etc.  Minimize the proof documents and clearance required for customs clearance India refused to sign Trade Facilitation agreement because –  TFA maintains that it doesn’t diminish the rights & obligations of members under other agreements of WTO  For example, under the Agreement on Agriculture (AoA) if a developing country is giving Amber box subsidies beyond 10% of its national agriculture production (base year 1986), then other members will be justified in putting trade sanction or WTO-complaint against the said country. Therefore, Government has decided to use TFA signature as a “Bargaining Chip” for a permanent solution of food subsidies issue. India-US agreed to resolve differences over public stockholding for food security under WTO