THE WORLD TRADE ORGANIZATION World Trade Organization (WTO)

GATT RULES

1-) Non-discrimination in trade: The parties are bound by "the most favoured nation"equal treatment for all members. 2-) Exclusive tariff protection : protection will be granted exclusively to the national industry through customs tariffs. 3-) Consulting procedures: Seek a fair solution when a member of a country considers that its rights are threatened by the other contracting parties. 4-) Serve as business center: The GATT provides a framework within which countries can conduct negotiations or rounds called Multilateral Trade Negotiations.

OECD Country members: Founders (1961):

Austria ❖ Belgium ❖ Canada ❖ Denmark ❖ France ❖ Germany ❖ Greece ❖ Iceland ❖ Ireland ❖ Italy ❖ Luxembourg ❖ The Netherlands ❖ Norway ❖ Portugal ❖ Spain ❖ Sweden ❖ Switzerland ❖ Turkey ❖ United Kingdom ❖ United States

International Monetary Fund ❖ It objectives:

Avoid monetary systems crisis, adopting well founded economic policy measures. 2. Provide temporary funding to enable countries to overcome problems with the balance of payments. 3. Encourage the international cooperation. 4. Promote exchange stability. 5. Advise governments in developing public accounting systems

International Monetary Fund

Creation: As an idea it was proposed on july 22th of 1944 during an ONU convention in Bretton Woods, New Hampshire, USA; and it's total creation was in 1945. ● Membership: 189 members at 2016 ● Headquarters : Washington, D.C. ● Managing Director : Christine Lagarde .

GATT (GENERAL AGREEMENT ON TARIFFS AND TRADE)

It is an intergovernmental agreement or miltilateral treaty from trade that establish reciprocal rights and obligations in terms of its objectives.

Organization for Economic Co-operation and Development (OECD)

It is an organization of international cooperation, which aims to coordinate economic and social policies of member countries. ● Was created : in 1961 and its headquarter is in the city of Paris France. ● It was born from Organisation for European Economic Co-operation (OEEC) ● Membership: 35 member countries at 2016

FUNCTIONS OF WTO

It is the only international organization dealing with the rules that govern trade between countries. •The principles on which is rests are the GATT agreements. • Manage the world trade agreements • Monitors the National Trade policies. •Try to solve trade disputes

World Bank

It's an organization which purpose is to reduce poverty thorugh low-interest loans, interest-free loans to bank levels and economic support in developing nations. ● Creation: Was created in 1944 ● Membership: 189 members ● Headquarter: Washington, D.C. ● Managing Director: Jim Yong Kim

Next members (chronology for year of admission): OECD

Japan (1964) Finland (1969) Australia* (1971) New Zealand* (1973) Mexico (1994) Czech Republic (1995) South Korea* (1996) Hungary(1996) Poland (1996) Slovakia (2000) Chile, Estonia, Israel and Slovenia(2010) -Latvia (2015) In 2013 the ministerial Council decided to start discussing the access from Russia

OBJECTIVES OECD

Promoting employment, economic growth, improved living standards in member countries, progressively liberalize capital movements and services.

The Wold Bank group it's integrated by :

The International Bank for Reconstruction and Development (IBRD) Gives financial advice in economic management. 2. International Development Association (IDA) Created in 1960, provides credit to the 78 countries that are considered as the poorest ones 3. International Finance Corporation (IFC) Created in 1956, it is in charge of promoting the economic development of countries through the private sector 4. The Multilateral Investment Guarantee Agency (MIGA). Was created in 1988, this organization promotes foreign investment in underdeveloping countries.

The International law didn't recognized GATT as an organization, reason which it became into the

WTO

WTO (World Trade Organization)

Was created : January 1, 1995 by the negotiations of the Uruguay Round (1986-1994). ● Membership: 162 member states at 2016

Was signed in Genova

on October 30 by 23 nations provided with ONU members, and took a provisionally effect on january 1, from 1948.