62 International Economic Institutions.pptx - International...

International Economic Institutions

Introduction
•
International trade is usually referred to the exchange of goods or services
along international borders.
•
The growth of international trade can be increased, if the countries follow a
common set of rules, regulations, and standards related to import and export.
•
These common rule and regulations are set by various international economic
institutions.
•
These institutions aim to provide a level playing field for all the countries and
develop economic cooperation.
•
These institutions also help in solving the currency issues among countries
related to stabilizing the exchange rates.

Major International Economic Institutions
•
General Agreement on Tariffs and Trade (GATT)
•
World Trade Organization (WTO)
•
International Monetary Fund (IMF)
•
World Bank (WB)
•
United Nations Conference on Trade and Development (UNCTAD)
•
Asian Development Bank (ADB)

General Agreement on Tariffs and Trade (GATT)
•
The GATT was a trade agreement that was implemented to boost
the economic recovery.
•
The primary purpose of GATT was to increase international trade by
eliminating or reducing various tariffs, quotas and subsidies while
maintaining meaningful regulations.
•
The GATT was formed early after the World War ll ended.

World Trade Organization (WTO)
•
The World Trade Organization (WTO) is a global international organization
dealing with the rules of trades between nations.
•
The goal of WTO is to provide a fair platform for its member countries to help
in services like exports, imports and conduct their business in a peaceful way.