World Trade Organisation Free Trade Agreements

Like the GATT (and then the WTO), the EU itself initially moved towards reducing customs barriers and promoting trade between its member states. The EU internal market was based in part on the principles and practices of the GATT. The Union has always been one of the main promoters of effective international trade based on the rule of law. Such a system contributes to its companies ability to access the market fairly abroad and thus supports economic growth both within and in third countries, particularly in less developed countries. The WTO is also a centre for economic research and analysis: the organization establishes regular assessments of the global trade image in its annual publications and research reports on specific topics. [56] Finally, the WTO works closely with the other two components of the Bretton Woods system, the IMF and the World Bank. [52] The final phase of accession includes bilateral negotiations between the candidate country and other members of the Working Group on Concessions and Commitments on the Level of Tariffs and Market Access to Goods and Services. The new member`s obligations will apply equally to all WTO members, even if they are negotiated bilaterally, in accordance with the usual rules of non-discrimination. [95] For example, following WTO membership, Armenia proposed a 15% tariff on access to its market for products. With collective agreements that are ad valorem, there are no specific or compound rates. In addition, there are no tariff quotas for both industrial and agricultural products.

[97] Armenia`s economic and trade performance growth has been seen since its first review in 2010, particularly after the 2008 global financial crisis, with an average annual GDP growth rate of 4%, despite some fluctuations. The Armenian economy has been characterized by low inflation, lower poverty and substantial progress in strengthening macroeconomic stability, where trade in goods and services, which accounts for 87% of GDP, has played an increasing role. [98] GATT still exists as a WTO framework agreement for merchandise trade, updated following the Uruguay Round negotiations (it distinguishes between GATT 1994, the updated GATT, and the 1947 GATT, the original agreement that remains the heart of the 1994 GATT). [29] However, the 1994 GATT is not the only legally binding agreement contained in the final deed in Marrakech; a long list of some 60 agreements, annexes, decisions and agreements has been adopted. Agreements can be divided into six main parts: in general, trade diversion means that a free trade agreement would divert trade from more efficient suppliers outside the zone to less efficient products and products. Whereas the creation of trade implies the creation of a free trade area that might not otherwise have existed. In any case, the creation of trade will increase a country`s national well-being. [15] The DDA is founded from the outset on the principle of a “single company”[3] and remains open. As in previous rounds, it is trying to further liberalize trade.

Open markets can be beneficial, but they also require adjustments. WTO agreements allow countries to gradually introduce changes through gradual liberalization. Developing countries generally have more time to meet their obligations.

Dette indlæg blev udgivet i Ikke kategoriseret. Bogmærk permalinket.