W.T.O “World Trade Organization”
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
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 concernm
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.
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.
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.
Brief Introduction of Writer: Ubaid Muzaffar
The columnist/ writer Mr. Ubaid Muzaffar a leading Management consultant and trainer who has held versatile positions in diversified industries and Senior Visiting Faculty Member in public & private universities in Pakistan.
by having journalistic approach in his profession His Creative Writing on Economy & Global Management System and English Literature experiences are thought provoking. He has been writing columns for 15 years, at different English & Urdu Newspaper.
He helped set up many companies the English & Urdu language website and edited many books of Literature & Poetry. He is a member of the founding team of Monthly Armughan Magazine and Daily Almairaj Newspaper and went on to become city editor in Karachi to launch its first metropolitan section under the editorship of Mr. Maikash Bijnori. He now writes long form investigative pieces on urban issues in Karachi such as electric, water, road networks and urban sprawl.
His recent work can be found here: www.umh.biz
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