ASSIGNMENT (MBA-1C )

SUBJECT: ACCOUNTING FOR MANEGER

TOPIC: THE WTO AND FREE TRADE

INTRODUCTION:- The World Trade Organization, is the primary international body to help promote free trade. WTO was founded in 1995. The scope of the WTO is greater, however, including services, agriculture, and intellectual property, not just trade in goods. It is a international body. 153 countries are the member of WTO. Its Headquarter is at Geneva, Switzerland. It is created by Uruguay Round negotiations(1986-94). Director General is PASCAL LAMY

Discussions:- The goal is to help producers of goods and services, exporters, and importers conduct their business. Budget: 196 million Swiss francs for 2011. Functions of WTO are following:-

•Administering WTO trade agreements

• Forum for trade negotiations

• Monitoring national trade policies

• Technical assistance and training for developing countries

• Cooperation with other international organizations

• Handling trade disputes.

The agreements were negotiated and signed by governments. But their purpose is to help producers of goods and services, exporters, and importers conduct their business. The goal is to improve the welfare of the peoples of the member countries.

Over three quarters of WTO members are developing or least-developed countries. All WTO agreements contain special provision for them, including longer time periods to implement agreements and commitments, measures to increase their trading opportunities and support to help them build the infrastructure for WTO work, handle disputes, and implement technical standards.

The WTO organizes around 100 technical cooperation missions to developing countries annually. It holds on average three trade policy courses each year in Geneva for government officials. Regional seminars are held regularly in all regions of the world with a special emphasis on African countries. Training courses are also organized in Geneva for officials from countries in transition from central planning to market economies.

Trade and development

The WTO Agreements recognize the link between trade and development. More than two thirds of WTO Members are developing countries.

At the Doha Ministerial Conference, in November 2001, Trade Ministers launched the Doha Development Agenda. With this Agenda, WTO Members have placed development issues and the interests of developing countries at the heart of the WTO work.

CHINA has gained entry into WTO in November. Then china is able to get closer and closer to entry into the world trade organization.

WTO PRINCIPALS ARE FOLLOWING:-

Reciprocity:- Nations try to provide similar concessions for each other.

Transparency:- Negotiations and process must be fair and open with rules equal for all.

CONCLUSION:- I THINK WORLD TRADE ORGANISTAION IS IMPORTANT ORGANISATION WHO SUPPORT EVERY COUNTRY FOR MAKING TRADE AT THE GLOBAL LEVEL. WORLD TRADE ORGANISATION ALSO HELP IN REDUCING CUSTOM DUTY FROM 300per TO LOWER LEVEL.WORLD TRADE ORGANISATION ALSO HELP INDIA AT DOMESTIC LEVEL,MARKET ACCESS AND PROVIDING SUBSIDIES.WORLD TRADE ORGANISTION ALSO HELP TO MAKE FREE TRADE AT GLOBAL LEVEL.

PRESENTED BY:

MANIK MAHAJAN

SECTION:- C
SUBMITTED TO: MR.GURDEEPAK SIR