What Are The Four Basic Categories Of International Trade Agreements

The WTO also relays disputes between Member States on trade issues. When one country`s government accuses another country`s government of violating world trade rules, a WTO panel settles the dispute. (The panel`s judgment may be appealed to an appellate body.) If the WTO finds that the government of a Member State has not complied with the agreements it has signed, the member is obliged to change its policy and bring it in line with the rules. If the member finds it politically impossible to change his policy, he can offer compensation to other countries in the form of lower obstacles to other goods. If it decides not to do so, other countries may obtain WTO authorization to impose higher tariffs (i.e. “retaliation”) on products originating in the Member State concerned because they have not complied. The most comprehensive and up-to-date source of information on international trade agreements is the World Trade Center`s regional trade agreement information system. You will find arrangements by country, product or status. smaller structures dedicated to the management of private companies. In order to promote the success of Indonesian exports, the Government highlighted the work required to obtain international recognition of the technical skills of these laboratories. The development of advanced systems to support internationally recognized testing facilities is therefore another area in which expertise and support to industrialized countries, including the United States, could be important not only to Indonesia, but also to the long-term interests of global economic well-being and the facilitation of global trade. In future free trade negotiations, East Asian markets were expected to increase by 6.2% per year by 2003, without Japan. Latin American markets, with the exception of Mexico, will grow at an annual rate of 5.2%.73 Among Japan and Mexico included, East Asia and Latin America will account for nearly 50% of global GDP by 2003.

The world`s major countries introduced the GATT in response to the waves of protectionism that paralyzed and contributed to world trade during the Great Depression of the 1930s.