Wto...... by Dhaval Sachula

1897 Words8 Pages
The Implications of WTO membership for India. Assignment-1 BUSINESS ECONOMICS DHAVAL SACHULA DIV-B 331207 The Implications of WTO membership for India. Assignment-1 BUSINESS ECONOMICS DHAVAL SACHULA DIV-B 331207 INTRODUCTION This Assignment is about world trade organization. It provides a history of world trade organization, how GATT as replaced by WTO. Assignment talks about Agriculture, trade, and technological aspects of world and mainly about India’s point of view. CONTENT * History * Function * Trading blocks * Domestic industries * Trade in Agricultural Products * EX-IM policy * Technology transfer * What India ought to do? HISTORY The World Trade Organization (WTO) is an international organization which deals with internationa trade. The WTO was established on 1 January 1995 under the Agreement of Marrakech. Marrakech Agreement was signed by 123 countries on 15 April 1994, by replacing the General Agreement on Tariffs and Trade (GATT). GATT was established in 1948. GATT, General Agreement on Tariffs and Trade was assigned during the UN Conference on Trade and Employment and was the result of the failure of negotiating governments to create the International Trade Organization (ITO). GATT lasted until 1993.it was established after world war2. The WTO concentrate on regulation of trade between joining countries by providing a base for negotiating trade agreements and resolving process of disputes and aimed at administering countries' adherence to WTO agreements. WTO focuses on trade deals which was held in previous time, specially from Uruguay Round. The agency is currently aiming to persist with alternate negotiation referred as the Doha improvement schedule. The WTO's present Director-General is Roberto Azevêdo. Who regulate a staff of over 600 people in Geneva, Switzerland. The WTO has
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