Business Guide to the World Trading System

Paperback: £50.00
978-0-85092-621-7

Business Guide to the World Trading System
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Publication date: 1 January 1999
Size: 297mm x 210mm
ISBN: 978-0-85092-621-7
Pages: 356

This book provides an overview of achievements of the Uruguay Round and the legal system established by it, and explains the role of the World Trade Organization (WTO). A sequel to ‘Business Guide to the Uruguay Round’ (1995), this edition contains updates on new developments which have taken place since 1996. It also contains a new section on the six trade-related subject areas: trade and environment, trade and investment, competition policy, transparency in government and procurement, trade facilitation, and electronic commerce.

A thorough understanding of the World Trading System is critical to increasing the competitiveness of enterprises in Commonwealth countries. This publication will be an essential tool for the international business community and will help business leaders to better understand the implications of the WTO Agreements and how to apply the various provisions and rules to their day-to-day business decisions.



ContentsExpand or collapse me

Preface

Acknowledgements

Boxes

Note

Introduction
The Guide
References and up-to-date information

Overview
The WTO system and the evolving global economy
Main features of the WTO Agreements
Multilateral Agreements on Trade in Goods
General Agreement on Trade in Services
Agreement on Trade-Related Aspects of Intellectual Property Rights
Liberalization measures taken by countries as a result of commitments assumed in the Uruguay Round
Developments since the establishment of WTO
Benefits to the business community of the WTO system

Annex I: Illustrative list of benefits arising from the WTO system
Annex II: WTO Agreements: provisions on special and differential treatment of developing countries - An analytical summary

PART ONE
THE WORLD TRADE ORGANIZATION: ITS ROLE AND FUNCTIONS

CHAPTER 1 WTO: Forum for negotiations, dispute settlement and trade policy reviews
Summary
WTO: Its objectives, functions and structure
WTO as a forum for negotiations
WTO system for the settlement of disputes
Trade Policy Review Mechanism (TPRM)

Annex I WTO structure
Annex II WTO membership

PART TWO
INTERNATIONAL RULES GOVERNING TRADE IN GOODS (GATT 1994 AND ITS ASSOCIATE AGREEMENTS)

CHAPTER 2 Four main rules of GATT
Summary
First rule: protecting the domestic industry by tariffs only
Second rule: tariffs should be reduced and bound against further increases Reductions in tariffs
Third rule: trade according to the most-favoured-nation clause
Fourth rule: national treatment
Business implications

CHAPTER 3 Valuation of goods for customs purposes
Summary
Types of customs duties
Rules of the Agreement on Customs Valuation
Business implications

CHAPTER 4 Preshipment inspection
Summary
Objectives for using PSI services
Background to the negotiations on the PSI Agreement
Main provisions of the Agreement
Differing rules on the verification of prices in the Agreement on PSI and on the valuation of goods in the Agreement on Customs Valuation
Obligations of exporting countries
Consideration of complaints and settlement of disputes
Review of the provisions of the Agreement
Business implications

CHAPTER 5 Mandatory and voluntary product standards, and sanitary and phytosanitary regulations
Summary
The role of standards
International rules governing standards
Agreement on Technical Barriers to Trade
General principles and rules of the Agreement on TBT
Code of Good Practice for voluntary standardization
Agreement on the Application of Sanitary and Phytosanitary Measures
Other provisions common to the SPS and TBT Agreements
Enquiry points
Business implications and experience of the operation of the Agreements

Annex: National enquiry points

CHAPTER 6 Import licensing procedures
Summary
Common rules
Automatic import licensing
Non-automatic import licensing
Business implications

CHAPTER 7 Rules applicable to exports
Summary
Export incentives providing for the reimbursement of indirect taxes
Rule governing export control measures
Business implications

CHAPTER 8 Rules governing subsidies on industrial products
Summary
Definition of subsidies; aim of the Agreement on SCM
Remedies available to affected industries and to their governments
Business implications

CHAPTER 9 Safeguard measures to restrict imports in emergency situations
Summary
Circumventing GATT rules through VERs
Agreement on Safeguards
Business implications

CHAPTER 10 Safeguard actions for economic development purposes: special flexibility available to developing countries
Summary
Conditions for the invocation of safeguard provisions
Business implications

CHAPTER 11 Response to unfair trade practices: rules on the use of countervailing and anti-dumping duties
Summary
Concept of dumping as embodied in GATT law
Rules and procedures for levying countervailing and anti-dumping duties
Business implications

CHAPTER 12 Rules of origin
Summary
Purposes for which rules are applied to determine country of origin
Main principles on which current national rules are based
Problems posed by differences in the rules for determining origin
Agreement on Rules of Origin
Present state of play in the technical work on harmonization
Business implications

CHAPTER 13 Trade-related investment measures
Summary
What are TRIMs?
Agreement on Trade-Related Investment Measures
Business implications

CHAPTER 14 Agreement on Textiles and Clothing
Summary
Integrating trade in textiles into GATT
Integration of non-MFA restrictions
Transitional safeguard measures
Rules of origin
Increasing use of anti-dumping actions
Business implications

CHAPTER 15 Agreement on Agriculture
Summary
Overview
Border measures
Export subsidies and governmental support measures
Domestic support subsidies
Peace clause
Net food-importing countries
Business implications and future negotiations

Annex:
Table 1: Export subsidy reduction commitments
Table 2: Reductions in domestic support to agricultural producers

CHAPTER 16 Results of market access negotiations
Summary
Uruguay Round of trade negotiations
Post-Uruguay Round negotiations
Assessment of liberalization gains from the Uruguay Round
Business implications

PART THREE
INTERNATIONAL RULES GOVERNING TRADE IN SERVICES

CHAPTER 17 General Agreement on Trade in Services
Summary
Modes in which the service trade takes place
General Agreement on Trade in Services
Rules on liberalization of services
Liberalization commitments under GATS
Business implications

Annex I: WTO classification of service sectors
Annex II: National enquiry and contact points

PART FOUR
GOVERNMENT PROCUREMENT AMD STATE TRADING

CHAPTER 18 Government procurement
Summary
Historical background to the evolution of rules
Agreement on Government Procurement
Negotiations for improvements in the Agreement
Interim agreement on government procurement
Work on government procurement under the provisions of GATS
Business implications

CHAPTER 19 State trading
Summary
Main obligations
Business implications

PART FIVE
TRADE-RELATED ASPECTS OF INTELLECTUAL PROPERTY RIGHTS

CHAPTER 20 Agreement on Trade-Related Aspects of Intellectual Property Rights
Summary
Intellectual property rights and their implications for international trade
Agreement on Trade-Related Aspects of Intellectual Property Rights
Business implications 251

PART SIX
SUBJECTS ADDED TO THE WTO WORK PROGRAMME FOR STUDY AMD ANALYSIS

CHAPTER 21 Trade and environment
Evolving global trends
WTO provisions
Trade-related issues
Trade provisions in multilateral environmental agreements
Environmental benefits of trade liberalization
Future work

Annex: Polluter-pays and user-pays principles

CHAPTER 22 Trade and investment
Background: discussions in GATT/WTO on trade and investment
FDI: its importance and impact; existing agreements and WTO provisions
Description of the main issues and points raised in the discussions in the WTO Working Group

CHAPTER 23 Trade and competition policy
Competition policy issues in international trade
Overview of the main issues under discussion in the WTO Working Group

CHAPTER 24 Transparency in government procurement practices
Agreement on Government Procurement
Working Group on Transparency in Government Procurement
Elements for ensuring transparency after the procurement contract is awarded
Technical cooperation, and special and differential treatment of developing countries
Ongoing work

CHAPTER 25 Trade facilitation
Work by international organizations other than WTO
WTO law on trade facilitation
Proposals calling for WTO involvement in trade facilitation
Work in progress

CHAPTER 26 Electronic commerce
What is electronic commerce
Benefits of electronic commerce
Internet-based international trade
Internet commerce and developing countries
Problems and issues
WTO work programme
Summing up

Index