The World Trade Organization (WTO) sat out in Doha in November 2001 to reinforce its commitment on liberalizing trade and fostering global economic growth and development. The Doha talks touched on a large number of subjects ranging from rules of the WTO to agriculture. First, the WTO expressed that their desire to see a world where trade restrictions are restricted. The WTO also said that all agriculture proposals would be negotiated by the end of 2005. Furthermore, the organization also set a plan to clarify its rules and regulations to the member governments and accept recommendations for improvement in the existing rules. Also, the WTO focused on stimulating foreign investment and aimed to balance the interests of countries where investment originates and where it is invested. The WTO stressed special concern to the developing and least developed countries, and pledged to work with them for the interests of both them and the world. Moreover, the organization put light on the necessity of transfer of technology from developed to developing and least developed countries. In addition to the above mentioned subjects, the WTO expresses its desire to continue furthering the electronic commerce trade and acknowledged that all member countries cannot impose custom duties on electronic transmissions. The most important subject in this WTO meeting was the issue of tariffs on agricultural products. The WTO is committed to negotiate with member countries on elimination or reduction of tariffs for agricultural products. According to the WTO, reducing tariffs would help in the liberalization of trade and would foster growth both domestically and beyond national borders. The WTO said that they are aware of the difficulties faced by the developing and the least developed countries, and so they aim to provide technical assistance and cooperate with them. Furthermore, the WTO also plans to help the lease developed countries in reviewing economic policies and offering advice and recommendations. The organization thinks that lifting restrictions on trade between countries, irrespective of being developed or developing would be beneficial for both the countries. Furthermore, it also recognized the relationship between countries through establishing regional trade agreements and encouraged it, given certain conditions. All in all, the WTO vowed to continue its efforts to liberalize trade globally.
Also, the WTO and its members made significant commitments and exemptions regarding the service sector during the Uruguay round of talks. The most notable discussion on services involved financial services, telecommunications, as well as immigration to provide services. Based on my understanding, the above mentioned service areas were explored and ways in which markets can be accessed was analyzed. For example, how can banks and other financial institutions provide services beyond their national borders Can it be through physical presence in the foreign country or through the use of the internet For looking at opportunities to access markets, all members prepared schedules which highlighted their own commitments and exemptions to expand trade in the service sector.
Q1: After reading both the articles, do you think that the Geneva talks in 2008 prove that the WTO failed to liberalize agricultural trade
Q2: The WTO vowed to clarify rules to its members and accept recommendations for improvement If you were a member of the WTO, what