{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

DSST Business Ethics Study Guide sm 2

45 most of the issues that the wto focuses on derive

Info iconThis preview shows pages 18–20. Sign up to view the full content.

View Full Document Right Arrow Icon
[4][5] Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986-1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain." [6] The WTO has 153 members, [7] representing more than 97% of total world trade [8] and 30 observers, most seeking membership. The WTO is governed by a ministerial conference, meeting every two years; a general council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the ministerial conference. The WTO's headquarters is at the Centre William Rappard, Geneva,Switzerland. GATT rounds of negotiations See also: General Agreement on Tariffs and Trade The GATT was the only multilateral instrument governing international trade from 1948 until the WTO was established in 1995. [14] Despite attempts in the mid 1950s and 1960s to create some form of institutional mechanism for international trade, the GATT continued to operate for almost half a century as a semi-institutionalized multilateral treaty regime on a provisional basis. [15] [ edit ]From Geneva to Tokyo Seven rounds of negotiations occurred under the GATT. The first GATT trade rounds concentrated on further reducing tariffs. Then, the Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement and a section on development. The Tokyo Round during the seventies was the first major attempt to tackle trade barriers that do not take the form of tariffs, and to improve the system, adopting a series of agreements on non-tariff barriers, which in some cases interpreted existing GATT rules, and in others broke entirely new ground. Because
Background image of page 18

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
these plurilateral agreements were not accepted by the full GATT membership, they were often informally called "codes". Several of these codes were amended in the Uruguay Round, and turned into multilateral commitments accepted by all WTO members. Only four remained plurilateral (those on government procurement, bovine meat, civil aircraft and dairy products), but in 1997 WTO Members agreed to terminate the bovine meat and dairy agreements, leaving only two. [14] Well before GATT's 40th anniversary, its members concluded that the GATT system was straining to adapt to a new globalizing world economy. [18][19]
Background image of page 19
Image of page 20
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page18 / 35

45 Most of the issues that the WTO focuses on derive from...

This preview shows document pages 18 - 20. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online