Functions of the wto, Microeconomics

Assignment Help:

Functions of the WTO:

The WTO performs the following functions:  

•  It administers through various councils and committees the 29 agreements contained in the final act of the Uruguay Round of world trade talks, plus a number of plurilateral agreements, including those on Government procurement.  

•  It oversees implementation of the significant tariff cuts and reduction of non-tariff barriers agreed to in the trade negotiations. 

•  It is a watchdox of international trade, regularly examining the trade regimes or individual members. 

•  Members are required to notify in detail various trade measures and statistics, which are maintained by the WTO in a large database.

•  It provides conciliation mechanisms for arriving at an amicable solution to trade conflicts among members. 

•  Trade disputes that cannot be solved through bilateral talks are adjudicated under the WTO dispute settlement "court". 

•  Panels of independent experts are established to examine disputes in the light of WTO rules and provide rulings. The tougher, streamlined procedure ensures equal treatment for all trading partners and encourages members to abide by their obligations. 

•  The WTO is a management consultant for world trade. Its economists keep a close watch on the pulse of the global economy and provide studies on the main issues of the day. 

•  The WTO secretariat assists developing countries in implementing Uruguay Round results through a newly established development division and a strengthened technical cooperation and training division. 

•  The WTO is a forum where countries continuously negotiate the exchange of trade concessions to trade restrictions all over the world. The WTO already has a substantial agenda of further negotiations in many areas, notably certain services sectors.


Related Discussions:- Functions of the wto

Combined ppc, how do you create a combined ppc consisting of three people

how do you create a combined ppc consisting of three people

Visit to village panchayat for agriculture based project., any village panc...

any village panchayat in west bengal and get information for doing a project.

Real estate development and process, Answer the following question Focus on...

Answer the following question Focus on Real Estate Development Normal 0 false false false EN-IN X-NONE X-NONE

Demand analysis, all information about demand analysis

all information about demand analysis

Determinants of private demand - non-monetary benefits, Determinants of Pri...

Determinants of Private Demand - Non-Monetary Benefits Social status associated with university degrees is a determinant of investment decisions in higher education in the cas

Demand and supply, During the 1990s, technological advance reduced the cost...

During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of

Arbitrage pricing theory, Arbitrage pricing theory is between one of two in...

Arbitrage pricing theory is between one of two influential economic theories of how assets are formed or priced in the financial markets and the other model is the capital asset pr

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd