DEPARTMENT OF BUSINESS ADMINISTRATION

UNIVERSITY OF LUCKNOW
TERM PAPER
TOPIC

Submitted to:
Submitted by:
Dr .Ajai prakash
Saddam husain
Assistant professor
MBA(II sem)

World Trade
Organization(WTO)
TheWorld Trade Organization(WTO) is an
intergovernmental organizationwhich regulatesinternational trade. The
WTO officially commenced on 1 January 1995 under the
Marrakech Agreement, signed by 123 nations on 15 April 1994, replacing
theGeneral Agreement on Tariffs and Trade(GATT), which commenced in
1948.[5]The WTO deals with regulation of trade between participating
countries by providing a framework for negotiating trade agreements and a
dispute resolution process aimed at enforcing participants' adherence to
WTO agreements, which are signed by representatives of member
governments[6]:fol.910and ratified by their parliaments.[7]Most of the issues
that the WTO focuses on derive from previous trade negotiations, especially
from theUruguay Round(19861994).

General Agreement on Tariffs and

Trade(GATT)
TheGeneral Agreement on Tariffs and Trade(GATT) was a multilateral
agreement regulating international trade. According to its preamble, its purpose
was the "substantial reduction of tariffs and other trade barriers and the
elimination of preferences, on a reciprocal and mutually advantageous basis." It
was negotiated during theUnited NationsConference on Trade and Employment
and was the outcome of the failure of negotiating governments to create the
International Trade Organization(ITO). GATT was signed by 23 nations in
Geneva on October 30, 1947 and took effect on January 1, 1948. It lasted until the
signature by 123 nations in Marrakesh on April 14, 1994 of the Uruguay Round
Agreements, which established theWorld Trade Organization(WTO) on January
1, 1995.

Fact file of wto

Location:Geneva,Switzerland
Established:1January1995
Created by:Uruguay Round negotiations (1986-94)
Membership:161countries
Budget:197million Swiss francs for2013
Secretariat staff:640
Purpose: Regulateinternational trade
Official language:English,French,Spanish[2]
Head:Roberto Azevdo (Director-General)
Functions:
Administering WTO trade agreements
Forum for trade negotiations
Handling trade disputes
Monitoring national trade policies
Technical assistance and training for developing countries
Cooperation with other international organizations

OBJECTIVES OF WTO
The important objectives of WTO are:
1. To improve the standard of living of people in the member countries.
2. To ensure full employment and broad increase in effective demand
3. To enlarge production and trade of goods.
4. To increase the trade of services.
5. To ensure optimum utilization of world resources.
6. To protect the environment.
7. To accept the concept of sustainable development.

Members and
Observers
161 members
23 Observers

10 things the WTO

can
The
WTO do
can ...
1 cut living costs and raise living standards
2 settle disputes and reduce trade tensions

3 stimulate economic growth and employment

4 cut the cost of doing business internationally
5 encourage good governance
6 help countries develop

7 give the weak a stronger voice

8 support the environment and health

9 contribute to peace and stability

10 be effective without hitting the headlines

LIST OF DIRECTORS-GENERAL

Roberto Azevedo, 2013

Pascal Lamy, 20052013

Supachai Panitchpakdi, 20022005

Mike Moore, 19992002

Renato Ruggiero, 19951999

Peter Sutherland, 1995

(Heads of the precursor organization,GATT):

Peter Sutherland, 19931995

Arthur Dunkel, 19801993

Olivier Long, 19681980

Eric Wyndham White, 19481968

Ministrial conferences
TheMinisterial Conferenceis the top decision making body of theWorld Trade Organization
(WTO).There have been nine conferences from 1996 to 2013, usually every two years.
Date

Host City

1st
2nd

913 December 1996

1820 May 1998

Singapore
Geneva, Switzerland

3rd

30 November 3
December 1999

Seattle, United States

4th

914 November 2001

Doha, Qatar

5th

1014 September
2003

Cancn, Mexico

6th

1318 December 2005

Hong Kong

7th

30 November 2
December 2009

Geneva, Switzerland

8th

1517 December 2011

Geneva, Switzerland

9th

36 December 2013

Bali, Indonesia

ADVANTAGE OF WTO

1.The system helps promote peace

2.Disputes are handled constructively
3.Rules make life easier for all
4.Freer trade cuts the costs of living
5.It provides more choice of products and qualities
6.Trade raises incomes
7.Trade stimulates economic growth
8.The basic principles make life more efficient
9.Governments are shielded from lobbying
10.The system encourages good government

DISADVANTAGE OF WTO
The WTO Is Fundamentally Undemocratic
The WTO Will Not Make Us Safer
The WTO Tramples Labor and Human Rights
The WTO Would Privatize Essential Services
The WTO Is Destroying the Environment
The WTO is Killing People
The WTO is Hunger
The WTO Hurts Poor, Small Countries in Favor of Rich
Powerful Nations
The WTO Undermines Local Level Decision-Making and
National Sovereignty
There are Alternatives to the WTO
The Tide is Turning Against Free Trade and the WTO
Increasing Inequality
The WTO is Increasing

REFERENCES

for preparing the project I uses the following:

websites:
www.wto.org
http://en.wikipedia.org/wiki/World_Trade_Organization
Book:
INTERNATIONAL BUSINESS ENVIRONMENT AND
OPERATION ,10 EDITION PEARSON PRENTICE HALL
PUBLICATION
AUTHORS:
JOHN D. DANIELS
LEE H. RADEBAUGH
DANIEL P. SULLIVAN

THANK YOU