wto & imf

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WTO & and its role

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WORLD TRADE ORGANISATION (WTO):

WORLD TRADE ORGANISATION (WTO) UNIT – I

INTRODUCTION: :

INTRODUCTION: INTRODUCTION: The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services , exporters, and importers conduct their business. India is an active member of WTO.

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Objectives: To ensure the reduction of tariff and other barriers to trade. To facilitate higher standard of living , full employment, a growing volume of real income and effective demand To make positive effect, which ensures developing countries, especially the least developed secure a level of share in the growth of international trade

Features: :

Features: a legal entity. it is not an agent of the United Nations. WTO members have equal rights. WTO’s approach is rule-based and time bound. WTO’s has a wider coverage

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Functions: code of conduct aiming at reducing trade barriers including tariffs To provide the institutional framework for the administration of the substantive code To provide an integrated structure of the administration, thus, to facilitate the implementation, administration and fulfillment To act as a forum for the negotiations To settle trade-related disputes.

Agreements: :

Agreements: Copy right Trademark Geographical indications Industrial designs Patents Integrated circuits and Trade secrets. Agreement on Trade in Civil Aircrafts Agreement on Government procurement International Bovine Meat Agreement and International Dairy Agreement.

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GENERAL AGREEMENT ON TARIFF AND TRADE (GATT) AGREEMENT ON TRADE IN SERVICES (GATS)? TRADE RELATED INVESTMENT MEASURES (TRIMS)? TRADE RELATED INTELLECTUAL PROPERTY RIGHTS (TRIPS)?

INTERNATIONAL MONETARY FUND (IMF)? :

INTERNATIONAL MONETARY FUND (IMF)?

INTRODUCTION: :

INTRODUCTION: An organization set up in 1944 to lower trade barriers between countries and to stabilize currencies by monitoring the foreign exchange systems of member countries, and lending money to developing nations

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History of the IMF: The International Monetary Fund (IMF) was created in 1944 to help the world avoid another Great Depression . Its goal was to help countries maintain the value of their currencies without resorting to trade barriers and high interest rates. Today, the IMF has over 180 member countries, which it helps by: Surveying global economic conditions.

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Importance of the IMF: Pursue policies that are conducive to reasonable price stability. Avoid manipulating exchange rates for unfair competitive advantage.

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PURPOSE: To Monitors To Lends

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Who Runs the IMF? The IMF is governed by its member countries through its Board of Governors, which is usually the finance minister or central bank. They meet annually, in conjunction with the World Bank. The International Monetary and Financial Committee, or the IMFC, meets twice a year

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Key IMF activities: The IMF supports its membership by providing policy advice to governments and central banks based on analysis of economic trends and cross-country experiences; research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets; loans to help countries overcome economic difficulties;

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Original aims: provide a forum for cooperation on international monetary problems facilitate the growth of international trade, thus promoting job creation, economic growth, and poverty reduction;

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