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Multilateral trade law ppt

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Multilateral trade law ppt

  1. 1. Multilateral Trade Law
  2. 2. Introduction A multilateral trade agreement involves three or more countries who wish to regulate trade between the nations without discrimination. They are usually intended to lower trade barriers between participating countries and, as a consequence, increase the degree of economic integration between the participants. Multilateral trade agreements are considered the most effective wayofliberalizingtradeinaninterdependentglobaleconomy.
  3. 3. Origins Although multilateral trade existed earlier, it was only after World War II that nations recognized the need for a set of rules with the objective of securing market access for post-war recovering economies. The first such set of rules came in 1947 in the form of the General Agreement on Tariffs and Trade (GATT). GATT was replaced in 1995 by the World Trade Organization, which has more than 150 members. The WTO agreements cover goods, services and intellectual property.
  4. 4. Definition: Multilateral trade agreements are between many nations at one time. For this reason, they are very complicated to negotiate, but are very powerful once all parties sign the agreement. The primary benefit of multilateral agreements is that all nations get treated equally, and so it levels the playing field, especially for poorer nations that are less competitive by nature.
  5. 5. Multilateral Trade Agreements (MTAs) These are agreements negotiated in and monitored by the World Trade Organization (WTO). While many such agreements exist, the main trade agreements relevant for public health include:  The General Agreement on Tariffs and Trade (GATT).  The General Agreement on Trade and Services (GATS), which covers services including health services, water and other utilities.  The Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS), which covers patent, copyright and trademarks on a wide assortment of products from software to medicines.
  6. 6.  The Agreement on Agriculture.  The Agreement on Technical Barriers to Trade  The Agreement on Trade-Related Investment Measures (TRIMS), which covers the rules and practices that countries must adhere to regarding the treatment of foreign investors, including foreign investors in private health delivery and medicine production.  The Anti-dumping Agreement.  The Agreement on Customs Valuation.
  7. 7. What Are Multilateral Agreements? A multilateral agreement is a treaty or an accord that three or more parties, agencies, national governments or international entities sign. Such agreements are usually legally binding and serve to build alliances and resolve conflicts in areas such as war, humanitarian disasters, poverty, water sanitation and distribution. Multilateral agreements have also been used to create international organizations and institutions that serve as world forums for shaping public policy in a global arena.
  8. 8. United Nations: • World powers created the United Nations (U.N.) after the end of World War II. The U.N. was created not only as a forum for nations to reconcile differences, but also to help alleviate the world's problems, such as trade issues. Multilateral agreements created the U.N.; at the same, such agreements are by-products of the U.N. as well, because diplomats from various nations negotiatetreatiesandaccords withoneother.
  9. 9. NATO: • The North Atlantic Treaty Organization (NATO) is an alliance of 28 independent member countries, from North America and Europe, committed to fulfilling the objectives of the North Atlantic Treaty. NATO was established to counter the growing threat of the Soviet Union. NATO was not only a major militaryalliance,butitwasalsoatradingalliance.
  10. 10. GATTandWTO: • After World War II, world powers created the General Agreement on Tariffs and Trade (GATT). GATT was created as a response to global trade wars, believed to have been a primary cause of the Great Depression. GATT relieved international trade barriers and created financial institutions that would help prevent trade wars and future global economic catastrophes. The World Trade Organization (WTO) came out of GATT and is theleading international body for resolvingtradedisputesanddevelopinginternationaltradepolicies.
  11. 11. What Are the Advantages and Disadvantages of Multilateralism? In the age of globalization, international cultures and economies are intertwined in a variety of ways. Any action that a country takes, including actions that impact their internal economies, have an impact on other countries. For many nations and governments, this makes working multilaterally on issues of mutual concern more important. This includes military action, trade agreements, disaster relief and general economic cooperation through international organizations.
  12. 12. Different Priorities • One disadvantage of multilateral actions is that it can make taking any action more difficult or at least slow things down. It may also mean that a government does not get everything that it wants or does not get what it wants in a timely manner. Different countries and governments will have different priorities and different ideas what actions should be taken, in what order and with what goals. Acting multilaterally can mean compromising on both the timeline and goals of a proposed action.
  13. 13. Costs and Efficiency • An advantage of multilateral action is that different countries have different resources and areas of expertise. Nations working together can pool these resources and achieve more successful outcomes as well as cost savings. Additionally, in a multilateral operation, no one country will have to use all of its available resources on a single operation. In economic and environmental areas, a number of countries acting in concert can achieve greater results than each country acting alone. One example of this is the Kyoto Protocol, in which a number of countries agreed to simultaneously reduce their greenhouse gas emissions.
  14. 14. Organizational Issues • Another disadvantage of multilateralism is in conducting operations with other countries. While sharing resources can be beneficial to countries, it can also complicate matters. Many countries have strict rules in place for their armed forces, relief agencies and other workers. Different nations have differing ways of doing things and varying chains of command, and some countries do not like their personnel to be under the command of another nation. This can lead to confusion, miscommunication and difficulty in making decisions and getting things done.
  15. 15. Diplomatic Respect • A final advantage of multilateralism, and perhaps the most important one, is that it engenders goodwill and respect from other nations. When a country acts on its own, without regard to the impact on trade, investment and the economy of other nations, it can cause a chill in diplomatic relations and generally damage a nation's international reputation. This can make it more difficult for that nation to work with other countries in the future on other matters.

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