1. World Trade Organization (WTO)
Geena Elghossain, Jessi Heyer

2. What is the WTO? What is its purpose?
global organization concerning trade between nations
creates agreements negotiated and signed by member nations
agreements intended to help exporters, importers, producers with business

3. WTO Documents
agreements are lengthy and vary, but all follow these principles:
non-discrimination
lowering trade barriers
transparency
more competition
help developing countries
protect environment

4. Then and Now WTO est. January 1, 1995
Born from GATT Uruguay Round held from

5. GATT General Agreements on Tariffs and Trade
created trade rules to reduce protectionism
Uruguay Round involving 120 member nations negotiated framework of GATT and ended up creating WTO

6. WTO v. GATT GATT dealt mainly with trade of goods
WTO deals with trade, investment, standards, safeguards, subsidies, intellectual property, etc.
WTO is an effective system of settling economic disputes

7. Membership
160 members, 24 “observer” governments (countries who are negotiating their membership)
Joining through 4-step “accession process”
Gov’t applying must tell all information about their trade and economic policies
discuss benefits for other WTO members
draft membership treaty
decision (⅔ WTO members must vote in favor)

8. Leadership Ministerial Council meets every 2 years
top decision making body
all members
General Council
highest decision making body in Geneva
meets regularly
representatives from every member nation
can act on behalf of ministerial council

9. Advantages of Membership
promote peace
handle disputes properly
sets clear rules to avoid future problems
free trade cuts the cost of living
provides choices of products and qualities
trade raises incomes and economic growth
governments are shielded from lobbying
system encourages good governments

10. Disadvantages of Impact
“race to the bottom”
seeks privatization of programs and services (eg. education) which poor cannot pay for
harms environment
deregulates industries
outlaws environmental standards acts
poorer countries underrepresented

11. International Impact increases global inequality
rich countries exploit the poor for cheap labor
Environmental neglect
Increasing global connectedness and reliance

12. China Impact annual GDP increased 10.5% since accession
more than 200,000 people rose above poverty line
grew from 6th to 2nd largest trading country in world
abolished over 3,000 central gov’t laws to follow WTO rules

13. Russia Impact
consistently faces concerns regarding Russian excessive import duties and restrictive trade practices
membership increased Foreign Direct Investment (FDI)

14. UK Impact one of the WTO's major contributors
seeks more open market and regulation of protectionist measures
wants to increase electronic trade prominence
no big issues

15. Iran
-currently an observing nation not a full-fledged member

16. Nigeria -economy growing by almost 7%
-making incentives for foreign and domestic investment (all of which is related to taxes/tariffs)

17. Mexico
-many industries especially tourism and farming are being undermined by WTO laws
-people want Quantitative Restrictions again - QRs make it illegal to sell cheap alternatives. The WTO overruled QRs so now a lot of people are selling cheap farmed goods
-WTOs laws making it difficult for Mexico's major income sources

18. Works Cited http://204.200.203.35/analysis/wto/cancun/plan_cancun.htm