European Union, Is it really open and competitive markets inside and outside

Written by amarendra bhushan


The global economy is still too closed by tariff and non-tariff barriers torepparttar goods and services that Europe has to sell. 1/Business and consumer surveys The economic sentiment indicator (ESI) forrepparttar 136843 EU weakened by 1.7 points in April, following its decline by 2.4 points in March. Inrepparttar 136844 euro area,repparttar 136845 indicator eased by 1 point in April, after a decrease of 1.3 points in March. 2/Business Climate Indicator forrepparttar 136846 euro area

The Business Climate Indicator (BCI) forrepparttar 136847 euro area fell in April by 0.19 points to a level of -0.28, followingrepparttar 136848 declines in previous months. Whilerepparttar 136849 slide ofrepparttar 136850 indicator had already started in summer 2004, it has become more pronounced 3/Call for Papers. Workshop on budgetary implications of structural reforms The workshop aims at improving our understanding ofrepparttar 136851 short, medium and long-term budgetary effects of structural reforms. A topical issue inrepparttar 136852 EU public finance debate isrepparttar 136853 existence of a possible trade-off betweenrepparttar 136854 respect of budgetary targets inrepparttar 136855 short term andrepparttar 136856 adoption

The importance of WTO

Written by Amarendra Bhushan


The WTO was established in 1995 as a result ofrepparttar Uruguay Round of multilateral trade negotiations (1986-1994). It is an international organization that sets global rules of trade between nations. The core ofrepparttar 136842 WTO system, referred to asrepparttar 136843 multilateral trading system, arerepparttar 136844 WTO agreements which lay downrepparttar 136845 legal ground rules for international trade as well asrepparttar 136846 market-opening commitments taken up by its Members. These agreements are negotiated and signed by all Members ofrepparttar 136847 WTO, and ratified in their parliaments.

The WTO is composed of governments and political entities (such asrepparttar 136848 EU) and is a member-driven organisation with decisions mainly taken on a consensus basis. Membership implies a balance of rights and obligations. By October 2004, 149 countries had joinedrepparttar 136849 WTO, with around 25 negotiating to sign up. A vast majority of Members are developing countries. The largest and most comprehensive entity isrepparttar 136850 European Union with its 25 Member States. Indeed, whilerepparttar 136851 Member States co-ordinate their positions in Brussels and Geneva,repparttar 136852 European Commission alone speaks forrepparttar 136853 EU at almost all WTO meetings.

The WTO's top level decision-making body isrepparttar 136854 Ministerial Conference, which meets at least once every two years. The latest conferences were Seattle (1999), Doha (2001 – which launchedrepparttar 136855 DDA) and Cancun (2003). Below this,repparttar 136856 General Council meets several times a year inrepparttar 136857 Geneva headquarters. Both are composed of representatives of all Member States. Atrepparttar 136858 next level,repparttar 136859 Goods Council, Services Council and Intellectual Property Council as well as numerous specialised committees, working groups and working parties deal withrepparttar 136860 individual agreements and other areas such asrepparttar 136861 environment, development, membership applications and trade agreements. Finally,repparttar 136862 WTO Secretariat located in Geneva supplies technical support for various councils and committees andrepparttar 136863 ministerial conferences, analyses world trade and explains WTO affairs torepparttar 136864 public and media. See more info onrepparttar 136865 WTO.

Currently,repparttar 136866 WTO Members are engaged in a broad round of multilateral trade negotiations, called “the Doha Development Agenda” (DDA). In July 2004, Members agreed on a Framework Agreement that sets a clear agenda forrepparttar 136867 formulation of a new set of trade rules byrepparttar 136868 end ofrepparttar 136869 DDA and decided thatrepparttar 136870 next WTO Ministerial will be held in Hong Kong in December 2005.

Members and Observers

Albania 8 September 2000 Angola 23 November 1996 Antigua and Barbuda 1 January 1995 Argentina 1 January 1995 Armenia 5 February 2003 Australia 1 January 1995 Austria 1 January 1995 Bahrain, Kingdom of 1 January 1995 Bangladesh 1 January 1995 Barbados 1 January 1995 Belgium 1 January 1995 Belize 1 January 1995 Benin 22 February 1996 Bolivia 12 September 1995 Botswana 31 May 1995 Brazil 1 January 1995 Brunei Darussalam 1 January 1995 Bulgaria 1 December 1996 Burkina Faso 3 June 1995 Burundi 23 July 1995 Cambodia 13 October 2004 Cameroon 13 December 1995 Canada 1 January 1995 Central African Republic 31 May 1995 Chad 19 October 1996 Chile 1 January 1995 China 11 December 2001 Colombia 30 April 1995 Congo 27 March 1997 Costa Rica 1 January 1995 Côte d'Ivoire 1 January 1995 Croatia 30 November 2000 Cuba 20 April 1995 Cyprus 30 July 1995 Czech Republic 1 January 1995 Democratic Republic ofrepparttar 136871 Congo 1 January 1997 Denmark 1 January 1995 Djibouti 31 May 1995 Dominica 1 January 1995 Dominican Republic 9 March 1995

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