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World Trade Organization

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INTRODUCTION
The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948 Deals with regulation of trade between participating countries

WORLD TRADE ORGANISATION

The WTO is governed by

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The WTO has 153 members, representing more than 97% of the world's population, and 30 observers, most seeking membership.

ministerial conference, meeting every two years;

general council, which implements the conference's policy decisions and is responsible for day-to-day administration;

director-general, who is appointed by the ministerial conference.

The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

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FUNCTIONS

It oversees the implementation, administration and operation of the covered agreements. It provides a forum for negotiations and for settling disputes, review and propagate the national trade policies, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training WTO is also a center of economic research and analysis: regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization. the WTO cooperates closely with the two other components of the Bretton Woods system, the IMF and the World Bank.

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ORGANISATIONAL STRUCTURE
Council for Trade in Goods There are 11 committees under the jurisdiction of the Goods Council each with a specific task. All members of the WTO participate in the committees. The Textiles Monitoring Body is separate from the other committees but still under the jurisdiction of Goods Council. The body has its own chairman and only 10 members. The body also has several groups relating to textiles. Council for Trade-Related Aspects of Intellectual Property Rights Information on intellectual property in the WTO, news and official records of the activities of the TRIPS Council, and details of the WTOs work with other international organizations in the field.

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ORGANISATIONAL STRUCTURE
Council for Trade in Services The Council for Trade in Services operates under the guidance of the General Council and is responsible for overseeing the functioning of the General Agreement on Trade in Services (GATS). It is open to all WTO members, and can create subsidiary bodies as required. Trade Negotiations Committee The Trade Negotiations Committee (TNC) is the committee that deals with the current trade talks round. The chair is WTOs director-general. The committee is currently tasked with the Doha Development Round.

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Voting system
operates on a one country, one vote system, but actual votes have never been taken Decision making is generally by consensus

ADVANTAGES encourages efforts to find the widely acceptable decision

DISADVANTAGES large time requirements most Many rounds of negotiation

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WTO and INDIA

WTO & INDIA India seeks to

Protect its food & livelihood security by having sufficient flexibility for domestic policy measures Protect domestic produces from surge in imports Substantial reduction in export subsidies and domestic support to agriculture in developed countries for greater market access Negotiation on trade in services are crucial to India

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Recent Developments

On 9 July 2009 WTO organises a workshop on environmental private standards, certification and labeling requirements. 6 September 2009 - WTO open its doors to the public for the first time. India hosted an informal meeting of 35 countries, representing various interest groups, in September for ways to revive the Doha round of WTO negotiations for further opening up of markets for goods and services. India proposed that the forthcoming seventh Ministerial Conference of the World Trade Organization (WTO) to held in November, should address some systemic issues for improving the functioning and efficiency of the WTO as a rules-based system, and make the system more useful, relevant, vibrant and user-friendly & submitted five proposals.

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