Organización Mundial del Comercio (OMC)

Summary

The video script discusses the World Trade Organization (WTO), established in 1995 to replace the General Agreement on Tariffs and Trade (GATT), aiming to increase trade openness and enforce international trade rules for a fairer global trade system. With 164 member countries and 23 observers, the WTO is headquartered in Geneva, Switzerland. The script also covers the WTO's objectives, including setting and enforcing international trade rules, providing a forum for trade negotiations, resolving disputes, and aiding developing countries in benefiting from global trade. Additionally, it introduces useful tools on the WTO's website, such as the member country list, interactive maps, and databases on regional trade agreements, as well as a glossary of trade terms.

Takeaways

• 🌐 The World Trade Organization (WTO) was established in 1995 following the Uruguay Round, replacing the General Agreement on Tariffs and Trade (GATT).
• 📘 GATT aimed to reduce trade barriers gradually and was signed on October 30, 1947, during a post-World War II economic crisis.
• 🏛 The WTO is headquartered in Geneva, Switzerland, with 164 member countries and 23 observer countries as of the last update.
• 🔍 Afghanistan was the most recent country to join the WTO on July 29, 2016.
• 📋 GATT was a set of rules by nations, while the WTO is an international organization that deals with global trade rules and regulations.
• 🎯 The WTO's objectives include establishing and enforcing international trade rules, providing a forum for trade negotiations, resolving trade disputes, and helping developing countries benefit from global trade.
• 📚 The WTO's main agreements include the General Agreement on Tariffs and Trade, the General Agreement on Trade in Services, and the Trade-Related Aspects of Intellectual Property Rights (TRIPS).
• 🔄 The WTO operates on two key principles: Most-Favored-Nation (MFN) treatment, which requires equal treatment for products from all member countries, and National Treatment, which ensures imported products are not treated less favorably than domestically produced goods once in the market.
• 🗺️ The WTO website provides a Members Map that visually represents member and observer countries, as well as countries in the process of joining and non-members.
• 🔍 The website also offers a searchable Members List and a database of regional trade agreements, which is useful for understanding a country's trade agreements with others.
• 📈 By clicking on a country in the Members Map, detailed information about its WTO accession date and trade agreements is provided, such as Bolivia's accession on September 12, 1995, and its various regional trade agreements.

Q & A

What was the purpose of establishing the World Trade Organization (WTO) in 1995?

The WTO was established to increase trade openness, strengthen the effectiveness and credibility of international trade rules, and create a more just global trade system, replacing the General Agreement on Tariffs and Trade (GATT) which focused on tariffs.

What is the location of the WTO's headquarters?

The WTO's headquarters are located in Geneva, Switzerland.

How many member countries and observer countries does the WTO currently have?

As of the script's information, the WTO has 164 member countries and 23 observer countries.

Which country was the last to join the WTO and when did it join?

Afghanistan was the last country to join the WTO, on July 29, 2016.

What was the economic situation of the world after World War II and how did the GATT address it?

After World War II, the world was in an economic crisis. The GATT was created on October 30, 1947, during the Geneva Round, with the aim of gradually reducing trade barriers.

How many rounds of negotiations took place under GATT from 1948 to 1994?

There were seven rounds of negotiations under GATT from 1948 to 1994.

What is the main difference between GATT and WTO?

The main difference is that GATT was a set of rules by nations, whereas WTO is an international organization that deals with global trade rules and has a more formal structure for dispute resolution and negotiations.

What are the main objectives of the WTO?

The main objectives of the WTO are to establish and enforce international trade rules, provide a forum for trade negotiations, resolve trade disputes, and help developing countries benefit from global trade.

What are the main agreements under the WTO?

The main agreements under the WTO include the General Agreement on Tariffs and Trade (GATT), the General Agreement on Trade in Services (GATS), and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

What are the principles of the WTO's Most-Favored-Nation (MFN) treatment?

The MFN treatment principle requires WTO members to treat products from one country no less favorably than products from any other country. Once products enter the market of the destination country, they must not be treated less favorably than similar domestically produced products.

How can the WTO's website be used to find information about trade agreements and member countries?

The WTO's website provides a 'Members and Observers' section where one can find an alphabetical list of all member countries and use a search function or a member map. It also has a 'Regional Trade Agreements' database that allows users to see the participation of each country in regional trade agreements.

What additional resources are available on the WTO's website for further understanding of trade terms and concepts?

The WTO's website offers a glossary of trade terms, which can be found under 'Documents and Resources' and then 'Other Resources', providing definitions and explanations of key trade-related concepts.