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WORLD TRADE ORGANISATION: AN OVERVIEW. BACKGROUND. Great Depression, Protectionism and the Consequences Bretton Woods Institutions GATT 1947 and Failure of the International Trade Organisation (ITO) GATT Negotiating Rounds. WTO AGREEMENT STRUCTURE. Single Undertaking
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BACKGROUND • Great Depression, Protectionism and the Consequences • Bretton Woods Institutions • GATT 1947 and Failure of the International Trade Organisation (ITO) • GATT Negotiating Rounds
WTO AGREEMENT STRUCTURE • Single Undertaking • Marrakesh Agreement Establishing the WTO • Annex 1- Annex 1A (goods) Annex 1B (GATS) Annex IC (TRIPs) • Annex 2-Dispute Settlement Understanding • Annex 3-Trade Policy Review Mechanism • Annex 4-Plurilateral Agreements
WTO STRUCTURE • Membership • Ministerial Conference • General Council, Dispute Settlement Body, Trade Policy Review Body • Councils and Committees
WTO STRUCTURE-Contd. • Secretariat • Decision Making Process • Authoritative Interpretation of WTO Agreements • Waiver from obligations • Amendment to WTO Agreements
ANNEX 1A AGREEMENTS GATT 1994 • Difference between GATT 1947 and GATT 1994 • Rules governing trade in goods: 1. General Elimination of Quantitative Restrictions (Art. XI), Article II
GATT 1994-CONTD. 2. Non-Discrimination (a) Most Favoured Nation Treatment Art. I (b) National Treatment Art. III 3. Other Obligations: Customs valuation, Transparency, fees and formalities, marks of origin, freedom of transit.
Exceptions • General Exceptions under Article XX • Security Exceptions Article XXI • Regional Trade Agreement • Government Procurement
PROTECTIVE CLAUSES TO PROTECT THE ECONOMY • Balance of payment problems • Provisions for developing countries TO PROTECT INDUSTRIES • Antidumping • Safeguards • Subsidies and CountervailingDuties
OTHER AGREEMENTS IN ANNEX 1A • 12 Other Agreements • Elaborate disciplines for the basic provisions in GATT 1994 • New Issues-TRIMs (Canada-FIRA), Agriculture and Textiles and Clothing
ANNEX 1B-GATS • Negotiating History • Framework for progressive liberalisation • Positive List Approach • Further Development of Rules
ANNEX IC-TRIPS • Negotiating History • Minimum Protection • Seven IPRs • Non-Discrimination • Responsibility of Enforcement on Members • Novartis AG vs. Union of India(Decided On: 06.08.2007)
ANNEX 2DISPUTE SETTLEMENT UNDERSTANDING • Article XXII and XXIII of GATT and GATS and Art. 64 of TRIPs • DSB: to administer DSU
The dispute settlement system of the WTO is the central element in providing security and predictability to the multilateral trading system. The Members recognise tat it serves to preserve the rights and obligations of Members under the covered agreements, and to clarify the existing provisions of those agreements in accordance with customary rules interpretation of public international law. Recommendations and rulings of the DSB cannot add or diminish the rights and obligations provided in the covered agreements.-Art. 3:2
DSU CONTD. • Consultation, conciliation, good offices, mediation, Arbitration and adjudication. • Panel • Appellate Body • Parties-Amicus Curiae Briefs • Positive and Negative Consensus • Implementation • Issue of precedent • Issue of Institutional Balance
