M4.1 World Trade Organization Flashcards
How many countries signed the General Agreement on Tariifs and Trade * GATT in 1948
23 countries
What are the underlying principles of GATT
The Most Favored-Nation tariff (MFN) and National Treatment
What does MFN mean?
Goods produced by one country will be treated at eh boarder no l ess favourabley thatn those of another country
What does National Treatment mean?
once goods have entered a country they will be treated no less favourably than goods of domestic origin
When was the WTO established?
January 1995
What does the WTO deal with?
WTO is the only international body dealing with the rules of trade between nations
What does the Tokyo Round include?
1) basic tariff and non tariff barrier agreeemnents
2) adoption and incorporation of the Anti-Dumping code
What does the Uruguay Round include?
Most complex trade negotiation
1) exchange of international property
2) trade related investments
3) exchange services
4) common set of rules governing agriculture and produce
What are the developing countries concerns?
focus of the Doha Development Agenda at the WTO
What round led to an agreement on anti-dumping regulations?
Kennedy Round
GATT Trade Round 1
1947
Geneva, Switzerland
GATT Trade Round 1
Came into force in 1948
Signed by: 23 countries
Topic(s): Establishment of uniform trade rules and tariff concessions
1947
Geneva, Switzerland
GATT Trade Round 1
1947
Geneva, Switzerland
GATT Trade Round 1
Came into force in 1948
Signed by: 23 countries
Topic(s): Establishment of uniform trade rules and tariff concessions
1951
Torquay, England
GATT Trade Round 3
1951
Torquay, England
GATT Trade Round 3
Signed by: 38 countries
Topic(s): broadening of participating countries and further tariff concessions
1956
Geneva, Switzerland
GATT Trade Round 4
1956
Geneva, Switzerland
GATT Trade Round 4
Signed by: 27 countries
Topic(s): Tariff concessions
1960 — 1961
Geneva “The Dillon Round”
GATT Round 5
1960 — 1961
Geneva “The Dillon Round”
GATT Round 5
Signed by: 26 countries
Topic(s): Tariff concessions, led to the creation of the European Economic Community (EEC)
1964 — 1967
Geneva “The Kennedy Round”
GATT Trade Round 6
1964 — 1967
Geneva “The Kennedy Round”
GATT Trade Round 6
Signed by: 62 countries
Topic(s): Tariff concessions and agreement on anti-dumping regulations
1973 — 1979
Geneva “The Tokyo Round”
GATT Trade Round 7
1973 — 1979
Geneva “The Tokyo Round”
GATT Trade Round 7
Signed by: 102 countries
Topic(s): Tariff concessions, trade barriers (non-tariff measures), “framework” agreements, subsidies and countervailing measures, anti-dumping duties, technical barriers to trade, government procurement, import licensing and quotas, customs valuation, trade in civil aircraft, international dairy arrangements, and agreements on bovine meat
1986 — 1994
Uruguay “The Uruguay Round”
GATT Trade Round
1986 — 1994
Uruguay “The Uruguay Round”
GATT Trade Round 8
Signed by: 123 countries; largest and most complex trade negotiation that has taken place
Topic(s): Tariff concessions, non-tariff measures such as exchange of intellectual property, trade-related investment, and the exchange of services, common set of rules governing agriculture and agricultural produce was initiated.
2001
Ongoing Doha, Qatar “The Doha Round”
GATT Trade Round 9
2001
Ongoing Doha, Qatar “The Doha Round”
GATT Trade Round 9
Also known as the Doha Development Agenda
Signed by: 159 countries
Topic(s): Tariff concessions, non-tariff measures such as agricultural, labour standards, environment, competition, investment, and patents, to improve the trading prospects of developing countries.
