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First Part WTO Pre to Current History

First Part WTO Pre to Current History. Dr. Badri Pokhrel Joint Secretary Ministry of Commerce and Supplies. Outlines. Glimpse of World economy History Great Depression of 1930s World War 1 st and 2 nd Marshall Plan Bretton Woods Conference ITO GATT WTO, Its objectives

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First Part WTO Pre to Current History

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  1. First PartWTO Pre to Current History Dr. Badri Pokhrel Joint Secretary Ministry of Commerce and Supplies

  2. Outlines • Glimpse of World economy • History • Great Depression of 1930s • World War 1st and 2nd • Marshall Plan • Bretton Woods Conference • ITO GATT • WTO, Its objectives • Scope

  3. World Economy • Capitalistic domination • Multi-National companies are more powerful rather than individual countries • Globalization • Inter dependency • New growing economy • However, some pre-dominant factors/Products

  4. Eco-Political great events • Glimpse of World economy (Laissez faire to State Controlled) • Advent of Keynes (Classical/Neoclassical to Modern) • Fall of Soviet Union (End of Cold War)

  5. Search of Safety rooms • LDC,s • Military Alliences-NATO, SEATO,(Western block) and Warsaw Pact (Soviet-block) • Panchasheel/NAM • Concept of Self Sustain • Bilateral Strengthen • Protection of regional umbrella (ADB,SAARC,BIMSTEC)

  6. Important events/Eve of WTO • 1944-Bretton Woods Conference for WB, IMF and ITO • 1947-23 Countries contracting parties signed in Hawana on GATT (Allternative to ITO) Passed Through various rounds of negotiation: annecy (France), Torquay (UK), Tokyo (Japan), Punta del Este (Uruguay), Montreal (Canada), Brussels (Belgium) and Marrakesh (Morocco)

  7. Eve to WTO • The GATT Trade Rounds • 1947 Geneva :Tariffs • 1949 Annecy :Tariffs • 1951 Torquay :Tariffs • 1956 Geneva :Tariffs • 1960/61 Geneva(Dillion Round):Tariffs

  8. Contd. • 1964/67 Geneva (Kennedy Round) :Tariffs and Anti-dumping measures • 1973-79 Geneva (Tokyo) Round :Tariffs, non Tariff measures, Framework agreements. • 1986-94 Geneva (Uruguay Round) :Tariffs non Tariff measures, Rules, Services, IPR, Dispute Settlement, Textile, Agricultural, Creation of WTO etc. • 1995 Establishment of WTO (1995 Jan 1)

  9. Objectives of WTO • Raising Standard of Living • Ensuring Full employment • Expanding the production of goods and Services • Promoting Sustainable development Through expanding the production of Trade in goods and services while allowing for the optimal use of the world’s resources • Protecting and preserving the environment.

  10. Principles of WTO • Rule based trade • Trade Without discrimination • MFN • National Treatment • Freer Trade, gradually through negotiation • Predictability, Through Binding and Transparency • Promoting fair competition • Encouraging development and economic reform • Reciprocity

  11. Key Functions of WTO • Administer and Implement Trade Agreements • Provide forum for Trade negotiation • Handle Trade disputes independently • Monitor Trade Policies of the member countries • Coordinate for TA and Cooperation with other agencies

  12. Scope of WTO • Trade in goods • Trade in Service • Trade Related Intellectual Property Rights.

  13. WTO Organization Ministerial Conference

  14. Membership System • Signatory Countries untill Uruguay round • Agreed countries from accession committee • Total member -153 • LDCs -32 out of 49 • First from accession –Nepal • Up to Uruguay Round -123

  15. How to Define WTO • It is neither a bird, nor a plane and nor a superman- But –it is- • An organization for liberalizing Trade • a Forum for government to negotiation trade agreement • a place for settle trade disputes • a system of trade rules

  16. Nepal and WTO /A wish of Benefit • Access in global market • MFN • National Treatment • Competition exercise • Availability of International forum • LDCs’ facilities

  17. Thank You

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