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WORLD TRADE
ORGANISATION
Presented by: SHWETA & DIKSHA

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Headquarters : Centre William Rappard, Geneva,
Switzerland.
Establish : 1January 1995
Created By : Uruguay Round
Negotiation(1986-94)
Membership :159 Countries on 2 March 2013
Budget :197 Million Swiss Francs for 2013
Secretariat Staff : 640
Director-General : Robert Azevedo
INTRODUCTION

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WTO
Inter-governmentalorganisationwhich regulatestheinternationaltrade
Officially commencedon 1st Jan 1995 undertheMarrakesh agreement
Signedby 123 nations in 1994
WTO had replacedGATT(Generalagreementon tariffs & trade)
Theydeal with:agriculture,textiles& clothing,banking,
telecommunications,governmentpurchases,industrial standards& product
safety,food sanitationregulationsintellectualproperty& muchmore.

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OBJECTIVE OF WTO
Promotes trade flows by encouraging nations to adopt non-
discriminatory & predictable trade policies
Raising standard of living & income.
Introduce sustainable development.

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United Nations Conference on Trade and
Development (UNCTAD)
Abbreviation UNCTAD
Formation 30 December 1964; 55 years ago
Legal status Active
Headquarters Geneva, Switzerland
Head Secretary-General
Mukhisa Kituyi
Parent organization United Nations General Assembly
United Nations Secretariat

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◦ United Nations Conference on Trade and Development (UNCTAD):
◦ UNO declared 1960-70 as Development Decade. In 1961 UNO attempted to increase the income of developing countries with a
growth rate of 5% p.a. during this development decade. In July 1962, a conference of developing countries was held at Cairo,
which resolved to convene a World Conference for this purpose. Economic and Social Council of the UNO called a World Trade
and Development Conference, which was held between March 31, 1964 and June 16, 1964. A worldwide international trade
policy was determined in this conference. Various issues related to extension of international trade of developing countries
were also discussed in this Conference. This Conference came to be known as UNCTAD.
◦ Functions of UNCTAD:
◦ ADVERTISEMENTS:
◦ i) To promote international trade all eve; the world-between developed and developing countries with different socioeconomic
systems, and thus to accelerate economic development.
◦ ii) To formulate principles and policies on international trade and related problems of economic development.
◦ iii) To make proposals for putting the said principle and policies into effect.
◦ iv) Generally, to review and facilitate the co-ordination of activities of the other institutions within the U.N. system in the field
of international trade.
◦ ADVERTISEMENTS:
◦ v) To be available as a centre for harmonious trade and related documents in development policies of governments.

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◦ What is Generalized System of Preferences (GSP)
◦ Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries to developing
countries (also known as preference receiving countries or beneficiary countries). It is a preferential arrangement in the
sense that it allows concessional low/zero tariff imports from developing countries.
◦ Developed countries including the US, EU, UK, Japan etc., gives GSPs to imports from developing countries. GSP
involves reduced/zero tariffs of eligible products exported by beneficiary countries to the markets of GSP providing
countries.
◦ The US has a strong GSP regime for developing countries since its launch in 1976, by the Trade Act of 1974. In the past,
thousands of products were imported from nearly 120 designated beneficiary countries and territories.
◦ What is the objective of GSP?
◦ The objective of GSP was to give development support to poor countries by promoting exports from them into the
developed countries. According to the US Trade Representative Office website, GSP promotes sustainable development
in beneficiary countries by helping these countries to increase and diversify their trade with the United States. “GSP
provide opportunities for many of the world’s poorest countries to use trade to grow their economies and climb out of
poverty” – USTR.
◦ According to the USTR, “GSP also boosts American competitiveness by reducing costs of imported inputs used by U.S.
companies to manufacture goods in the United States.”

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◦ European Union (EU), international organization comprising 27 European
countries and governing common economic, social, and security policies.
Originally confined to western Europe, the EU undertook a robust expansion into
central and eastern Europe in the early 21st century. The EU’s members
are Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland
, Italy, Latvia, Lithuania, Luxembourg, Malta, the
Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.
The United Kingdom, which had been a founding member of the EU, left the
organization in 2020. The EU was created by the Maastricht Treaty, which entered
into force on November 1, 1993. The treaty was designed to enhance European
political and economic integration by creating a single currency (the euro), a
unified foreign and security policy, and common citizenship rights and by
advancing cooperation in the areas of immigration, asylum, and judicial affairs.
The EU was awarded the Nobel Prize for Peace in 2012, in recognition of the
organization’s efforts to promote peace and democracy in Europe.

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North American Free Trade Agreement
◦ North American Free Trade Agreement (NAFTA) established a free-
trade zone in North America; it was signed in 1992 by Canada, Mexico,
and the United States and took effect on Jan. 1, 1994. NAFTA
immediately lifted tariffs on the majority of goods produced by the
signatory nations. It also calls for the gradual elimination, over a period
of 15 years, of most remaining barriers to cross-border investment and
to the movement of goods and services among the three countries.

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Pros and Cons of the North American Free Trade Agreement
(NAFTA)
• ProsLower grocery prices
• Lower gas prices
• Increased trade and growth
ConsManufacturing jobs moved to Mexico
• U.S. workers saw lower wages
• Worker exploitation in Mexico

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Association of South-East Asian Nations
◦ ASEAN was established on 8 August 1967 in Bangkok by the five
original member countries: Indonesia, Malaysia, Philippines, Singapore,
and Thailand. Brunei Darussalam joined on 8 January 1984, Vietnam
on 28 July 1995, Laos and Myanmar on 23 July 1997, and Cambodia
on 30 April 1999.