World Trade Organization WTO Doha The global trading system

Course summary (World Trade Organization WTO):

In 1995 was created the World Trade Organization (WTO) replacing the General Agreement on Tariffs and Trade (GATT) (Created in 1948).

The World Trade Organization (WTO) is the sole global body that regulates the International trade of products and services between 157 nations.

The main objective of the World Trade Organization (WTO) is to facilitates international trade of products and services between exporters and importers. Tariff rates of International trade and open markets engagements are "bound" in the World Trade Organization (WTO)

The agreements negotiated at the World Trade Organization (WTO) by member countries should to be ratified in their parliaments.

The World Trade Organization (WTO) define the principles of the international trade system:

• International trade - Without discrimination: a nation should not differentiate between its trade partners ("most favored nation" or MFN status); and it should not show favoritism between its own and foreign products or services ("national treatment");
• International trade - More free: barriers to international Trade should be reduced or eliminated by negotiation;
• International trade - predictable: all the actors involved in international trade (foreign companies, investors, governments) should be convinced barriers to international trade (tariffs and non-tariff barriers) should not be elevated capriciously; ;
• International trade - more competitive: daunting "unfair" practices (export subsidies, dumping ...)
• International trade - more profitable for less developed countries.

Example of the course World Trade Organization (WTO):

The General Agreement on International Trade in services (GATS) is the sole ensemble of regulations ruling International trade in services.

The General Agreement on International Trade in services (GATS) was negotiated in the Uruguay Round (1986-94) with the objective of regulate the immense growth of the international trade in services.

International trade in services stand for the fastest growing sector of the global economy:

• 60% of global production
• 30% of global employment
• 20% of global international trade.

The World Trade Organization (WTO) Agreement on International Trade-Related Aspects of Intellectual Property Rights (TRIPS) was also negotiated in the Uruguay Round, introducing intellectual property regulations.

Web site World Trade Organization WTO: http://www.wto.org/