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INTERNATIONAL MARKETING

ASSIGNMENT 1

TITLE:

“DISCUSS THE EVOLUTION OF WOLRD TRADE THAT LED TO THE FORMATION OF THE WTO”

PREPARED BY:

MAK CHEE KIN (012012111153)

PREPARED FOR:

MADAM DINA RAZAK

SUBMISION DATE:

6/12/2012

SEMESTER NOVEMBER 2012

“DISCUSS THE EVOLUTION OF WOLRD TRADE THAT LED TO THE FORMATION OF THE WTO”

World trade organization is an organization for trade opening. The WTO was established in 1995 as a successor to the General Agreement on Tariffs and Trade. This organization has link to the government to negotiate trade agreement. This is for the organization to avoid trade dispute. World Trade Organization (WTO) is a place where the governments solve the problem they face with each other. The WTO function is to protect consumers and prevent the spread of disease or protect the environment. The WTO sets global rules for trade and provides a forum for trade negotiations and resolving trade disputes between member countries. WTO rules cover trade in all goods and many services as well as a very broad range of trade issues, from quarantine and technical trade barriers to taxation, subsidies and intellectual property.

The discussion is regarding the evolution of trade that led to the formation of World Trade Organization (WTO). It was created as one of the outcomes of the Uruguay Round of multilateral trade talk. The Uruguay Round, which ended in 1994 after eight years of complex and contentious negotiation, was a landmark in the history of the trading system. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. Over the years GATT evolved through several rounds of negotiations. There have been eight “rounds” of intergovernmental tariff negotiations.

The last and largest GATT round, was the Uruguay Round which lasted from 1986 to 1994 and led to the WTO’s creation. Whereas GATT had...
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