wto

GENERAL AGREEMENTS ON TARIFFS AND TRADE WAS REPLACED BY WTO IN 1995

SECURITY GUARD OF INTERNATIONAL TRADE-----WTO

World Trade Organization.

[edit]Ministerial Conferences

#	Date	Host City
1st	9 - 13 December 1996	Singapore
2nd	18 - 20 May 1998	Geneva, Switzerland
3rd	30 November - 3 December 1999	Seattle, United States
4th	10 - 14 November 2001	Doha, Qatar
5th	10 - 14 September 2003	Cancun, Mexico
6th	13 - 18 December 2005	Hong Kong
7th	30 November - 3 December 2009	Geneva, Switzerland
8th	15 December - 17 December 2011	Geneva, Switzerland

Top four economy---usa , china,japan,india

India is 7th largest in global services trade player as per WTO
• WTO has ranked India as the 7th largest player in the global services trade with value of exports and
imports aggregating 261 billion dollars in 2011.
• The Indian economy is mainly driven by services with the sector contributing over 55% of the country's
GDP.






India: 10th in Global Export of Services
As per latest WTO (World Trade Report) report, 2011:
India attained 10th rank in export of services worldwide
India emerged as the 20th biggest merchandise exporter in 2010
In 2009, India stood 12th and 22nd Globally in Services and Goods Exports, respectively
In value terms, India exported Services worth $ 110 bn and merchandise exports worth $216 bn last
year







US, EU & Japan to file trade case against China at WTO
USA along with EU and Japan to file a new trade case at WTO against China over its limits on exports
of so-called rare earth minerals.
China is the world’s main exporter of rare earths – 17 minerals used in making many high-tech
products including flat screen televisions, hybrid car batteries and wind turbines.
China asserts that it has restricted the exports in recent years in order to:-
 Meet its own domestic manufacturing needs
 To ease the environmental impact from excessive mining.







‘WTO Panel on Defining the Future of Trade’
The World Trade Organisation (WTO) has set up a panel, consisting experts from all over the world
including India. The aim is to address the global trade challenges and find long-term solutions. The
Panel will meet regularly to discuss issues that come in the way of rapidly-growing world.
The ‘WTO Panel on Defining the Future of Trade’
No: of Panellists?
 12
Is India a party?
 YES
Who will represent India?
 Pradeep Singh Mehta, Secretary general of Consumer Unity and Trust Society (CUTS) International.
First Meeting: May 16, 2012 in Geneva
 This panel encompasses experts from all corners of the world and nearly every field of endeavour.
 The “WTO Panel on Defining the Future of Trade”, will meet several times in 2012. In the autumn, it will have the
opportunity to hear the views of WTO Members over these challenges.
The panellists are:







India drags U.S. to WTO over duties on select steel products
India has moved the WTO (World Trade Organisation) against the U.S. for imposing duties on import of certain Indian
steel products. On April 12, 2012, India requested consultations with the U.S. under the dispute
settlement system regarding the latter’s countervailing duties on certain steel products from India.
About Countervailing Duties and incidents of such type in recent past b/w India and USA









Russia formally joins WTO
After 18 years of negotiations Russia has finally become a formal member of the World Trade Organisation(WTO).
Russia is ready to cut import tariffs on goods, including food and cars and to ease controls on foreign companies
entering its financial and telecom sectors. Russia joins as the 156th member of the WTO