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The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It is the largest international economic organization in the world.
The Asia-Pacific Economic Cooperation is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region. Following the success of ASEAN's series of post-ministerial conferences launched in the mid-1980s, APEC started in 1989, in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; it aimed to establish new markets for agricultural products and raw materials beyond Europe. Headquartered in Singapore, APEC is recognized as one of the highest-level multilateral blocs and oldest forums in the Asia-Pacific region, and exerts a significant global influence.
The Cairns Group is an interest group of 20 agricultural exporting countries, composed of Argentina, Australia, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Indonesia, Malaysia, New Zealand, Pakistan, Paraguay, Peru, the Philippines, South Africa, Thailand, Uruguay, and Vietnam.
The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus facilitate increased global trade.
Herminio Alonso Blanco Mendoza is a Mexican economist.
Export subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through direct payments, low-cost loans, tax relief for exporters, or government-financed international advertising. An export subsidy reduces the price paid by foreign importers, which means domestic consumers pay more than foreign consumers. The World Trade Organization (WTO) prohibits most subsidies directly linked to the volume of exports, except for LDCs. Incentives are given by the government of a country to exporters to encourage export of goods.
The WTO Ministerial Conference of 1999 was a meeting of the World Trade Organization, convened at the Washington State Convention and Trade Center in Seattle, Washington, USA, over the course of three days, beginning Tuesday, 30 November 1999. A week before the meeting, delegates admitted failure to agree on the agenda and the presence of deep disagreements with developing countries. Intended as the launch of a new round of multilateral trade negotiations that would have been called "The Millennium Round", the negotiations were marred by poor organization and controversial management of large street protests. Developing country representatives became resentful and uncooperative on being excluded from talks as the United States and the European Union attempted to cement a mutual deal on agriculture. The negotiations collapsed and were reconvened in Doha, Qatar, in November 2001. The Doha venue enabled on-site public protest to be excluded. Necessary agenda concessions were made to include the interests of developing countries, which had by then further established their own negotiation blocs, such as the Non-Aligned Movement and the Shanghai Co-operation Organisation. Thus, the current round is called the Doha Development Round, which has since 2008 remained stalled as a result of diverging perspectives regarding tariffs, agriculture, and non-tariff barriers such as agricultural subsidies.
The original member states of theWorld Trade Organization are the parties to the GATT after ratifying the Uruguay Round Agreements, and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification. All other members have joined the organization as a result of negotiation, and membership consists of a balance of rights and obligations. The process of becoming a World Trade Organization (WTO) member is unique to each applicant country, and the terms of accession are dependent upon the country's stage of economic development and the current trade regime.
This is a timeline of the World Trade Organization (WTO).
The Ministerial Conference is the top decision making body of the World Trade Organization (WTO). There have been eleven ministerial conferences from 1996 to 2017, usually every two years.
Gita Irawan Wirjawan is an Indonesian entrepreneur, investment banker and philanthropist. Previously he served as Minister of Trade of the Republic of Indonesia during President Susilo Bambang Yudhoyono’s Kabinet Indonesia Bersatu II. He is the founder of Ancora Group and Ancora Foundation. He is the current head of Badminton Association of Indonesia.
The WTO General Council held an eighth WTO ministerial conference session in Geneva from 15–3 December 2011.
Roberto Carvalho de Azevêdo is a Brazilian career diplomat and former Director-General of the World Trade Organization. He is the current Executive Vice President and Director of Corporate Affairs at PepsiCo. Azevêdo was elected to succeed Pascal Lamy as Director-General of the World Trade Organization in May 2013.
The Regional Comprehensive Economic Partnership is a free trade agreement between the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam. The 15 member countries account for about 30% of the world's population and 30% of global GDP as of 2020, making it the biggest trade bloc in history. Unifying the preexisting bilateral agreements between the 10-member ASEAN and five of its major trade partners, the RCEP was signed on 15 November 2020 at a virtual ASEAN Summit hosted by Vietnam, and will take effect 60 days after it has been ratified by at least six ASEAN and three non-ASEAN signatories.
The Bali Package is a trade agreement resulting from the Ninth Ministerial Conference of the World Trade Organization in Bali, Indonesia on 3–7 December 2013. It is aimed at lowering global trade barriers and is the first agreement reached through the WTO that is approved by all its members. The package forms part of the Doha Development Round, which started in 2001.
Saadaldeen Talib is a Yemeni physician, businessman and politician. He served as the Yemeni Minister of Industry and Trade from December 2011 to 2014. He currently lives in Singapore and holds a position of a Goodwill Ambassador for UNDP Yemen.
The Tenth World Trade Organization Ministerial Conference was held in Nairobi, Kenya from 15 to 19 December 2015. The conference was chaired by the Kenyan Foreign Affairs Minister Amina Mohamed.
Afghanistan received membership to the World Trade Organization (WTO) at the 10th WTO Ministerial Conference in Nairobi, Kenya, December 17, 2015. Afghanistan is 164th in the world and 36th among the less-developed countries that have received WTO membership.
The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. 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 is signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994).
The Trade Facilitation Agreement 2014, was confirmed in Bali, Indonesia in December 2013 at the Ninth Ministerial Conference. After almost 20 years of Negotiations the agreement was officially an open invitation for acceptance from the 160 members of the World Trade Organisation (WTO) on 27 December 2014. However the agreement will only be ratified once 2/3 of the members have informed the WTO of their agreement. For the WTO, the agreement can be viewed as a historic achievement as it is the first multilateral agreement since the WTO's inception in 1995. The Trade Facilitation Agreement of 2014 is a global multilateral initiative to rationalise the stringent procedures which govern international trade. The principal focus of the Agreement is to have numerous positive consequences on developed and Least Developed Countries. Estimates have shown that the Trade Facilitation Agreement would reduce trade costs by an average of 14.5%. In turn, this would prospectively improve trade globally by on trillion dollars. This reduction of bureaucratic 'red tape' will have favourable effects on small to medium Businesses, making it easier for them to trade and join global value chains. One of the most significant aspects of this agreement, lies in the new principle that developing and Least Developed Countries commitments to the implementation of the provisions outlined by the agreement are conditioned on their procurement of necessary technical capacity.
References
- ↑ "World Trade Organization adopts Bali package, to move ahead on Doha round". Indian Express. 7 December 2013. Retrieved 7 December 2013.
- ↑ "Meetings raise hope of Bali Package". The Hindu. 7 December 2013. Retrieved 7 December 2013.
- ↑ Bali Ministerial Declaration and decisions Archived 2013-12-18 at the Wayback Machine at WTO official website. Accessed 31 December 2013
- ↑ "Ministerial Conference approves Yemen's WTO membership". WTO. 4 December 2013. Retrieved 8 December 2013.
