W.T.O is abbreviated as World
Trade Organization. Now it has become a hot issue for every country and like
developing country “Pakistan” it is becoming confusing as well.
Before going into detail we first of all like to go through the history and
background of W.T.O. It will fulfill some other requirement or other
information.
The tendency of discussion related to business is not new and these types of
discussion kept moving since 1947 when (GAAT) General Agreement on Trade and
Tariff was formed.
After one year discussion started for foundation of I.T.O (International Trade
Organization) was to establish and develop a universal organization for
commercial or business system where as you understand GAAT was merely designed
for the principles of tariff but Americans did not support the organization of
international trade therefore it was not able to be established and can take a
place.
What and How was GATT:-
The first discussion era of GATT was very long. It was surrounded on (1947 till
1967). In these talks the hot points was the tariff deficiency on industrial
goods.
The second era of GATT discussion comprises (1967 till 1979). It is also called
Tokyo round. During these talks the emphasize was on the free trade of
industrial goods.
After that no discussion was in progress but 7 years ago, in 1986 Eurogoy the
discussion was given a new start in which seriously contemplated about the
global commerce and trade. This discussion round which is also called Eurogoy
round was ended in 1993.The important features of this round was
• Service Sector
• The Security System
• The Rejection of quota System
• Lackness of Tariffs
• Rejection of Subsidiary in Export
• Agenda of Copyright
The foundation stone was laid of W.T.O in 1994 in Marakash. In 1994 the
conference of GAAT was held according to the law. It was approval of the
foundation of W.T.O. All the contracts which were related to GAAT become the
part of W.T.O.
THE FIRST REGULAR MEETING 1996 SINGAPORE
In Singapore first regular meeting was held. These basic features were concern
• Social Rights in Commerce.
• Investment
• The Policy of constant competition.
• And the admission of china in W.T.O.
• To provide ease to the sector of Information Technology for mutual agreements.
• The rights of labour.
•
THE SECOND MEETING OF W.T.O 1998 GENEVA
The second regular meeting was held in Geneva in which these topics were the
part of the agenda.
• To devolve tariffs on electronic transaction and to decide the issue of
copyright.
THE THIRD MEETING OF W.T.O 1999 AMERICA
In the end of 1999 the third meeting was held in Ciatell America. In which the
only point which addressed was agriculture but no result was formed and anti
globalization activist devastated the meeting.
THE FOURTH CONFERENCE OF W.T.O 2001 QATAR
In November 2001 Doha, Qatar the fourth conference was held. In which these
affairs were specially discussed.
• This service sector was the special topic of that conference.
• Incentive of agriculture sector and agricultural land was also the part of the
agenda.
FIFTH CONFERENCE OF W.T.O 2003 KANIKAN, MEXICO
To increase the agenda of Doha conference in 2003 in Kanikan, Mexico a meeting
was held in which Pakistani Commerce Minister Hamayoun Akhtar participated.
In which all the previous points were in central line.
THE IMPACT OF W.T.O ON PAKISTAN OR DEVELOPING COUNTRIES
Pakistan can face problems in case of W.T.O due to demanded standards and anti
dumping duties. Dumping means the deficient cost export due to which countries
own product value can not compete with the import.