First Part WTO Pre to Current History Dr. Badri Pokhrel Joint Secretary Ministry of Commerce and Supplies

Outlines Glimpse of World economy History Great Depression of 1930s World War 1st and 2nd Marshall Plan Bretton Woods Conference ITO GATT WTO, Its objectives Scope

World Economy Capitalistic domination Multi-National companies are more powerful rather than individual countries Globalization Inter dependency New growing economy However, some pre-dominant factors/Products

Eco-Political great events Glimpse of World economy (Laissez faire to State Controlled) Advent of Keynes (Classical/Neoclassical to Modern) Fall of Soviet Union (End of Cold War)

Search of Safety rooms LDC,s Military Alliences-NATO, SEATO,(Western block) and Warsaw Pact (Soviet-block) Panchasheel/NAM Concept of Self Sustain Bilateral Strengthen Protection of regional umbrella (ADB,SAARC,BIMSTEC)

Important events/Eve of WTO 1944-Bretton Woods Conference for WB, IMF and ITO 1947-23 Countries contracting parties signed in Hawana on GATT (Allternative to ITO) Passed Through various rounds of negotiation: annecy (France), Torquay (UK), Tokyo (Japan), Punta del Este (Uruguay), Montreal (Canada), Brussels (Belgium) and Marrakesh (Morocco)

Eve to WTO The GATT Trade Rounds 1947 Geneva :Tariffs 1949 Annecy :Tariffs 1951 Torquay :Tariffs 1956 Geneva :Tariffs 1960/61 Geneva(Dillion Round):Tariffs

Contd. 1964/67 Geneva (Kennedy Round) :Tariffs and Anti-dumping measures 1973-79 Geneva (Tokyo) Round :Tariffs, non Tariff measures, Framework agreements. 1986-94 Geneva (Uruguay Round) :Tariffs non Tariff measures, Rules, Services, IPR, Dispute Settlement, Textile, Agricultural, Creation of WTO etc. 1995 Establishment of WTO (1995 Jan 1)

Objectives of WTO Raising Standard of Living Ensuring Full employment Expanding the production of goods and Services Promoting Sustainable development Through expanding the production of Trade in goods and services while allowing for the optimal use of the world’s resources Protecting and preserving the environment.

Principles of WTO Rule based trade Trade Without discrimination MFN National Treatment Freer Trade, gradually through negotiation Predictability, Through Binding and Transparency Promoting fair competition Encouraging development and economic reform Reciprocity

Key Functions of WTO Administer and Implement Trade Agreements Provide forum for Trade negotiation Handle Trade disputes independently Monitor Trade Policies of the member countries Coordinate for TA and Cooperation with other agencies

Scope of WTO Trade in goods Trade in Service Trade Related Intellectual Property Rights.

WTO Organization Ministerial Conference

Membership System Signatory Countries untill Uruguay round Agreed countries from accession committee Total member -153 LDCs -32 out of 49 First from accession –Nepal Up to Uruguay Round -123

How to Define WTO It is neither a bird, nor a plane and nor a superman- But –it is- An organization for liberalizing Trade a Forum for government to negotiation trade agreement a place for settle trade disputes a system of trade rules

Nepal and WTO /A wish of Benefit Access in global market MFN National Treatment Competition exercise Availability of International forum LDCs’ facilities

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