Thursday, November 14, 2019
International Trade Essay -- essays research papers
To export these goods you have to have an organization which deals with the rules of trade between nations. Such an international organization is the World Trade Organization (WTO). The goal is to help producers of goods and services, exporters, and importers conduct their business. Result:      - is assurance -     Consumers and producers know they can enjoy secure supplies and greater choice of the finished products. -     Producers and exporters know that foreign markets will remain open to them. Heart of the system are the: -     WTO’s agreements -     The agreements are negotiated and signed by governments. They have to be ratified in their parliaments. World Trade Organization (WTO) -     came into being in 1995 -     deals with rules of trade between nations -     the agreements are signed by the governments -     It is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War -     It has more than 140 members and the top decision making body meets at least once every two years The 3 main purposes of WTO: - trade flow as freely as possible -     means removing obstacles. -     also means ensuring that individuals, companies and governments know what the trade rules are around the world, and giving them the confidence that there will be no sudden changes of policy. In other words, the rules have to be â€Å"transparent†and predictable. -     to serve as a forum for Trade negotiations -     dispute settlement Trade relations often involve conflicting interests. Contracts and agreements often need interpreting. The best way to solve these differences is based on an agreed legal foundation. Principles of the trading system The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. They deal with: agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards, food sanitation regulations, intellectual property, and much more. ... ...t, but it is no longer the main set of rules for international trade. And it has been updated. - The General Agreement on Tariffs and Trade always dealt with trade in goods, and it still does. It has been amended and incorporated into the new WTO agreements. -While GATT no longer exists as an international organization, the GATT agreement lives on. - The old text is now called â€Å"GATT 1947†. - The updated version is called â€Å"GATT 1994†. The main differences GATT was ad hoc and provisional. The General Agreement was never ratified in members’ parliaments, and it contained no provisions for the creation of an organization. The WTO and its agreements are permanent. As an international organization, the WTO has a sound legal basis because members have ratified the WTO agreements, and the agreements themselves describe how the WTO is to function. The WTO has â€Å"members†. GATT had â€Å"contracting parties†, underscoring the fact that officially GATT was a legal text. GATT dealt with trade in goods. The WTO covers services and intellectual property as well. The WTO dispute settlement system is faster, more automatic than the old GATT system. Its rulings cannot be blocked. International Trade Essay -- essays research papers To export these goods you have to have an organization which deals with the rules of trade between nations. Such an international organization is the World Trade Organization (WTO). The goal is to help producers of goods and services, exporters, and importers conduct their business. Result:      - is assurance -     Consumers and producers know they can enjoy secure supplies and greater choice of the finished products. -     Producers and exporters know that foreign markets will remain open to them. Heart of the system are the: -     WTO’s agreements -     The agreements are negotiated and signed by governments. They have to be ratified in their parliaments. World Trade Organization (WTO) -     came into being in 1995 -     deals with rules of trade between nations -     the agreements are signed by the governments -     It is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War -     It has more than 140 members and the top decision making body meets at least once every two years The 3 main purposes of WTO: - trade flow as freely as possible -     means removing obstacles. -     also means ensuring that individuals, companies and governments know what the trade rules are around the world, and giving them the confidence that there will be no sudden changes of policy. In other words, the rules have to be â€Å"transparent†and predictable. -     to serve as a forum for Trade negotiations -     dispute settlement Trade relations often involve conflicting interests. Contracts and agreements often need interpreting. The best way to solve these differences is based on an agreed legal foundation. Principles of the trading system The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. They deal with: agriculture, textiles and clothing, banking, telecommunications, government purchases, industrial standards, food sanitation regulations, intellectual property, and much more. ... ...t, but it is no longer the main set of rules for international trade. And it has been updated. - The General Agreement on Tariffs and Trade always dealt with trade in goods, and it still does. It has been amended and incorporated into the new WTO agreements. -While GATT no longer exists as an international organization, the GATT agreement lives on. - The old text is now called â€Å"GATT 1947†. - The updated version is called â€Å"GATT 1994†. The main differences GATT was ad hoc and provisional. The General Agreement was never ratified in members’ parliaments, and it contained no provisions for the creation of an organization. The WTO and its agreements are permanent. As an international organization, the WTO has a sound legal basis because members have ratified the WTO agreements, and the agreements themselves describe how the WTO is to function. The WTO has â€Å"members†. GATT had â€Å"contracting parties†, underscoring the fact that officially GATT was a legal text. GATT dealt with trade in goods. The WTO covers services and intellectual property as well. The WTO dispute settlement system is faster, more automatic than the old GATT system. Its rulings cannot be blocked.
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