4. INTRODUCTION
• The World Trade Organization (WTO) is the only global
international organization dealing with the rules of
trade between nations. At its heart are the WTO
agreements, negotiated and signed by the bulk of the
world’s trading nations and ratified in their
parliaments. The goal is to help producers of goods
and services, exporters, and importers conduct their
business.
5. HISTORY
• The WTO was born out of negotiations, and everything
the WTO does is the result of negotiations. The
magnitude of the WTO’s current work comes from the
1986–94 negotiations called the Uruguay Round and
earlier negotiations under the General Agreement on
Tariffs and Trade (GATT). The WTO is currently the
host to new negotiations, under the ‘Doha
Development Agenda’ launched in 2001.
6. OBJECTIVES:
1. Non-discrimination
2. More open
3. Predictable and transparent
4. More competitive
5. More beneficial for less developed countries
6. Protect the environment
7. ACTIVITIES OF WTO
1.Trade negotiations
2.Implementation and monitoring
3.Dispute settlement
4.Building trade capacity
5.Outreach
8. MEMBERS
The WTO has 164 members and 22 observer
governments. Liberia became the 163rd member
on 14 July 2016, and Afghanistan became the
164th member on 29 July 2016
12. • The World Bank is an international organization dedicated to
providing financing, advice and research to developing nations
to aid their economic advancement. The World Bank was
created out of the Bretton Woods agreement as a result of
many European and Asian countries needing financing to
fund reconstruction efforts. As of 2016, the Bank
predominantly acts as an organization that attempts to fight
poverty by offering developmental assistance to middle- and
poor-income countries.
Introduction
13. HISTORY
•THE World Bank was set up in 1944 with a
charter to drive post-World War II
reconstruction.
14. OBJECTIVES
1. To provide long-run capital to member countries for economic
reconstruction and development.
2. To induce long-run capital investment for assuring Balance of Payments
(BoP) equilibrium and balanced development of international trade.
3. To provide guarantee for loans granted to small and large units and other
projects of member countries.
4. To ensure the implementation of development projects so as to bring about
a smooth transference from a war-time to peace economy.
5. To promote capital investment in member countries by the following ways;
(a) To provide guarantee on private loans or capital investment.
(b) If private capital is not available even after providing guarantee, then IBRD
provides loans for productive activities on considerate conditions.
15. ACTIVITIES OF WORLD BANK
• 1. Financial assistance
• 2. Technical assistance
• 3. Inter organizational cooperation
• 4. Training
• 5. Research and Studies
• 6. Evaluation of projects
• 7. Settlement of investment disputes
• 8. Urban development, population planning and tourism
16. MEMBERS
• The organizations that make up the World Bank Group
are owned by the governments of member nations,
which have the ultimate decision-making power within
the organizations on all matters, including policy,
financial or membership issues.
• At present the members of world bank are 189
countries.
20. INTRODUCTION
The International Bank for Reconstruction and Development
(IBRD) is a global development cooperative owned by 189-
member countries. As the largest development bank in the
world, it supports the World Bank Group’s mission by providing
loans, guarantees, risk management products, and advisory
services to middle-income and creditworthy low-income
countries, as well as by coordinating responses to regional and
global challenges.
21. HISTORY
The International Bank for Reconstruction and
Development (IBRD) and International Monetary
Fund (IMF) were established by delegates at the Bretton
Woods conference in 1944 and became operational in
1946.
22. OBJECTIVES:
• 1. To help in the reconstruction and development of
member countries by facilitating the investment of
capital for the productive purposes, including the
restoration and reconstruction of economies
devastated by war.
2. To encourage the development of productive
resources in developing countries by supplying them
investment capital.
3. To promote private foreign investment through
guarantees and participation in loans and other
23. • 4. To supplement private foreign investments by
direct loans out of its own capital for productive
purposes.
5. To promote long term balances growth of
international trade and the maintenance of
equilibrium in the balance payments of member
countries by encouraging long term international
investments.
6. To bring about an easy transition from a war
economy to a peace time economy.
7. To help in raising productivity, the standard of
living and the conditions of labour in member
24. ACTIVITIES
1. To assist in the reconstruction and development of the
territories of its members by facilitating the investment of capital
FRO productive purposes.
2. To promote private foreign investment by means of guarantee
of participation in loans and other investments made by private
investors and when private capital is not available on reasonable
terms to make loans for productive purposes out of its own
resources from funds borrowed by it.
3. To promote the long-term balance growth of international
trade and the maintenance of equilibrium in balances of
payments by encouraging international investments for
development of productive resources of members.
4. To arrange loans made guaranteed by it in relation to
international loans through other channels so that more useful
projects, large and small alike, will be dealt with first.
25. MEMBERS
• The Bank's founders envisioned a global institution,
the membership of which would eventually comprise
all nations. Membership in the IBRD rose gradually
from 41 governments in 1946 to 184 as of July 2002.
29. The General Agreement on Tariffs and Trade, or GATT for
short, was drafted in 1947 as a provisional agreement to
regulate international trade. However, the International Trade
Organization (ITO), which was supposed to take the place of
GATT, was never ratified. GATT was enforced from January
1, 1948 until December 31, 1994, when it was finally replaced
by the World Trade Organization (WTO) on January 1, 1995.
Introduction
30. HISTORY
• The eighth round of GATT was held in 1986, in
Uruguay. Many more topics beyond tariffs were
included in the main agenda, including intellectual
property, agriculture and dispute settlement. This
meeting during this round of GATT led to the creation
of the WTO.
31. OBJECTIVES:
1. To encourage full employment and large and steadily growing volume of real
income and effective demand.
2. To improve the world production and exchange of goods.
3. To ensure the full use of world resources.
4. To ensure a steady improvement in the living standards of people in member
countries.
5. To settle the disputes through consultation within the framework of GATT.
32. I
1947
GENEVA (SWITZERLAND)
SIGNATURE ON FIRST GATT AGREEMENT
II
1949
ANESI (FRANCE)
TARIFF REDUCTIONS ON SPECIFIC PRODUCTS
III
1950- 51
TORQUAY (ENGLAND)
TARIFF REDUCTIONS ON SPECIFIC PRODUCTS
IV
1956
GENEVA
Activities
33. V
(Dillion Round)
1960-61
Geneva
Induction of European Community for the first time & 20% tariff reduction.
VI
(Kenedy Round)
1964 – 67
Geneva
33% reduction is restrictions on manufactured goods.
VII
(Tokyo Round)
1973 – 79
Geneva
Non-tariff restrictions, etc.
VIII
(Uruguay Round)
1986 – 93
Punta Del Este(Beginning in Uruguay and closing at Geneva)
Agriculture, Service, TRIPS, TRIMS, related issues
34. Members
There were 23 nations that originally signed
the GATT in 1947 in Geneva before it went
into effect.
38. INTRODUCTION
• The International Monetary Fund (IMF) is an
organization of 189 countries, working to foster
global monetary cooperation, secure financial
stability, facilitate international trade, promote high
employment and sustainable economic growth, and
reduce poverty around the world.
• Created in 1945, the IMF is governed by and
accountable to the 189 countries that make up its
near-global membership.
39. HISTORY
• The IMF was originally laid out as a part of the Bretton
Woods system exchange agreement in 1944. During
the Great Depression, countries sharply raised barriers
to trade in an attempt to improve their failing
economies. This led to the devaluation of national
currencies and a decline in world trade.
40. OBJECTIVES:
• I. To promote international monetary cooperation through a
permanent institution which provides the machinery for
consolation and collaboration on international monetary
problems.
• II. To facilitate the expansion and balanced growth of
international trade, and to contribute thereby to the promotion
and maintenance of high levels of employment and real income
and to the development of the productive resources of all
members as primary objective of economic policy.
• III. To promote exchange stability, to maintain orderly exchange
arrangements among members, and to avoid competitive
41. • IV. To assist in the establishment of a multilateral system of
payments in respect of current transactions between members
and in the elimination of foreign exchange restrictions which
hamper the growth of world trade.
• V. To give confidence to members by making the general
resources of the Fund temporarily available to them under
adequate safeguards, thus providing them with the opportunity
to correct maladjustments in their balance of payments, without
resorting to measures destructive of national or international
prosperity.
• VI. In accordance with the above, to shorten the duration and
lessen the degree of disequilibrium in the international balance
of payments of members.
43. MEMBERS
• The International Monetary Fund (IMF) is an
organization of 189 countries, working to foster
global monetary cooperation, secure financial
stability, facilitate international trade, promote high
employment and sustainable economic growth, and
reduce poverty around the world.
