M4.1 World Trade Organization

Question 1

How many countries signed the General Agreement on Tariifs and Trade * GATT in 1948

Answer 1

23 countries

Question 2

What are the underlying principles of GATT

Answer 2

The Most Favored-Nation tariff (MFN) and National Treatment

Question 3

What does MFN mean?

Answer 3

Goods produced by one country will be treated at eh boarder no l ess favourabley thatn those of another country

Question 4

What does National Treatment mean?

Answer 4

once goods have entered a country they will be treated no less favourably than goods of domestic origin

Question 5

When was the WTO established?

Answer 5

January 1995

Question 6

What does the WTO deal with?

Answer 6

WTO is the only international body dealing with the rules of trade between nations

Question 7

What does the Tokyo Round include?

Answer 7

1) basic tariff and non tariff barrier agreeemnents
2) adoption and incorporation of the Anti-Dumping code

Question 8

What does the Uruguay Round include?

Answer 8

Most complex trade negotiation
1) exchange of international property
2) trade related investments
3) exchange services
4) common set of rules governing agriculture and produce

Question 9

What are the developing countries concerns?

Answer 9

focus of the Doha Development Agenda at the WTO

Question 10

What round led to an agreement on anti-dumping regulations?

Answer 10

Kennedy Round

Question 11

GATT Trade Round 1

Answer 11

1947
Geneva, Switzerland
GATT Trade Round 1

Came into force in 1948
Signed by: 23 countries
Topic(s): Establishment of uniform trade rules and tariff concessions

Question 12

1947
Geneva, Switzerland
GATT Trade Round 1

Answer 12

1947
Geneva, Switzerland
GATT Trade Round 1

Came into force in 1948
Signed by: 23 countries
Topic(s): Establishment of uniform trade rules and tariff concessions

Question 13

1951
Torquay, England
GATT Trade Round 3

Answer 13

1951
Torquay, England
GATT Trade Round 3

Signed by: 38 countries
Topic(s): broadening of participating countries and further tariff concessions

Question 14

1956
Geneva, Switzerland
GATT Trade Round 4

Answer 14

1956
Geneva, Switzerland
GATT Trade Round 4

Signed by: 27 countries
Topic(s): Tariff concessions

Question 15

1960 — 1961
Geneva “The Dillon Round”
GATT Round 5

Answer 15

1960 — 1961
Geneva “The Dillon Round”
GATT Round 5

Signed by: 26 countries
Topic(s): Tariff concessions, led to the creation of the European Economic Community (EEC)

Question 16

1964 — 1967
Geneva “The Kennedy Round”
GATT Trade Round 6

Answer 16

1964 — 1967
Geneva “The Kennedy Round”
GATT Trade Round 6

Signed by: 62 countries
Topic(s): Tariff concessions and agreement on anti-dumping regulations

Question 17

1973 — 1979
Geneva “The Tokyo Round”
GATT Trade Round 7

Answer 17

1973 — 1979
Geneva “The Tokyo Round”
GATT Trade Round 7

Signed by: 102 countries
Topic(s): Tariff concessions, trade barriers (non-tariff measures), “framework” agreements, subsidies and countervailing measures, anti-dumping duties, technical barriers to trade, government procurement, import licensing and quotas, customs valuation, trade in civil aircraft, international dairy arrangements, and agreements on bovine meat

Question 18

1986 — 1994
Uruguay “The Uruguay Round”
GATT Trade Round

Answer 18

1986 — 1994
Uruguay “The Uruguay Round”
GATT Trade Round 8

Signed by: 123 countries; largest and most complex trade negotiation that has taken place
Topic(s): Tariff concessions, non-tariff measures such as exchange of intellectual property, trade-related investment, and the exchange of services, common set of rules governing agriculture and agricultural produce was initiated.

Question 19

2001
Ongoing Doha, Qatar “The Doha Round”
GATT Trade Round 9

Answer 19

2001
Ongoing Doha, Qatar “The Doha Round”
GATT Trade Round 9

Also known as the Doha Development Agenda
Signed by: 159 countries
Topic(s): Tariff concessions, non-tariff measures such as agricultural, labour standards, environment, competition, investment, and patents, to improve the trading prospects of developing countries.