FACT FILE

Location: Geneva, Switzerland

Established: 1 January 1995 Created by: Uruguay Round negotiations (1986-94) Membership: 153 countries (on 23 July 2008) Budget: 185 million Swiss francs for 2008 Secretariat staff: 625 Head: Director-General, Pascal Lamy

 Trade Free

without discrimination

trade

Predictability
Promoting

fair competition development and economic reform

Encouraging

Ministerial conferences:

1st: Singapore, December 1996 2nd: Geneva, May 1998 3rd: Seattle, Washington, November-December 1999 4th: Doha, Qatar, November 2001 5th: Cancun, Mexico, September 2003 6th: Hong Kong, December 2005

All agreements of WTO revolved around issue related to tariff, subsidies, dumping, environment and property rights

Agreement on Trade-related Intellectual Property Rights (TRIPs) and IPR Agreement for Trade of goods and services
Trade policy for goods
Agreement on Industrial Goods Agreement on Agriculture (AoA)

Trade Policy for Services: The GATS agreement

The definition contains three basic elements: (i) a financial contribution (ii) by a government or any public body within the territory of a member (iii) which grants a benefit.

Financial contribution, e.g., grants, loans, loan guarantees, fiscal incentives, the provision of goods or services, the purchase of goods.
The basic principle is that a subsidy that distorts the allocation of resources within an economy should be subject to discipline

 Particular

Enterprise. A government targets a

particular company or companies for subsidization;

Particular

Industry. A government targets a

particular sector or sectors for subsidization.

Particular

Region. A government targets producers

in specified parts of its territory for subsidization.

Prohibited

subsidies.

There are two kinds of dumpings:

socio-dumping

eco-dumping

The system helps promote peace. The system allows disputes to be handled constructively. A system based on rules rather than power makes life easier for all. Free trade cuts the cost of living . It gives consumers more choice and a broader range of qualities to choose from.

 Trade

raises incomes Trade stimulates economic growth and that can be good news for employment The basic principles make the system economically more efficient and they cut costs The system shields governments from narrow interests The system encourages good government

 Textile

and Clothing Sector of Pakistan Sector of Pakistan

Agriculture

Services

of Sector of Pakistan

Government should prepare a plan to restructure the textile and clothing industry. The government efforts should be to ensure full utilization of quota. A shortfall in quota utilization will provide excuse to importing countries to delay their textile and clothing trade liberalisation. Government should prepare a plan of productivity and efficiency improvement in each area so those domestic firms can effectively compete with foreign firms once the WTO agreements are fully implemented. Pakistan should take some credible measures by further liberalizing economy and by modifying its laws on intellectual property protection, antidumping, countervailing and safeguard based on the principles of fair competition which should be clear, unambiguous and compatible with WTO agreements. Pakistan should actively participate in the future WTO negotiations so that its own agenda is ultimately incorporated into various agreements