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The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
In services, the equivalent of tariff schedules in GATT, laying down the commitments accepted voluntarily or through negotiation by WTO members.
Industry:Economy
The principle of giving others the same treatment as ones own nationals. GATT Article 3 requires that imports be treated no less favorably than the same or similar domestically-produced goods once they have passed customs. GATS Article 17 and TRIPS Article 3 also deal with national treatment for services and intellectual property protection.
Industry:Economy
People, as distinct from juridical persons such as companies and organizations.
Industry:Economy
In the non-agricultural market access negotiations, products not covered by Annex 1 of the Agriculture Agreement. Fish and forestry products are therefore non-agricultural, along with industrial products in general.
Industry:Economy
Similar to multifunctionality. The preamble of the Agriculture Agreement specifies food security and environmental protection as examples. Also cited by members are rural development and employment, and poverty alleviation.
Industry:Economy
A transparency obligation requiring member governments to report trade measures to the relevant WTO body if the measures might have an effect on other members.
Industry:Economy
Non-tariff barriers, such as quotas, import licensing systems, sanitary regulations, prohibitions, etc.
Industry:Economy
Non-tariff barriers, such as quotas, import licensing systems, sanitary regulations, prohibitions, etc.
Industry:Economy
Tariff so low that it costs the government more to collect it than the revenue it generates. Sometimes, a tariff that does not have any protective effect some countries defend this as necessary in order to raise revenues.
Industry:Economy
Damage to a country's benefits and expectations from its WTO membership through another country's change in its trade regime or failure to carry out its WTO obligations.
Industry:Economy
