Nafta ( North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) is an agreement negotiated by three countries; Canada, Mexico, and the United States. The main purpose of NAFTA is essentially to reduce trade barriers in order to promote international commerce, and open up different industries to trade, in particular textiles, agriculture, and automobile sectors. The introduction of NAFTA completely transformed North American economic relations and led to unparalleled cooperation between the U.S. Canada and Mexico.

In 1992, the United States, Canada, and Mexico signed the North American Free Trade Agreement (NAFTA). This agreement eliminated most tariffs and trade barriers between the three countries. NAFTA was inspired by the European Economic Community (1952-1993), which had eliminated tariffs among its members. In 1988, a free trade agreement was made between the United States and Canada, so the agreement in 1992 was just an extension of the original agreement to Mexico. In August 1992, the countries reached a preliminary agreement, and On December 17, 1992, the leaders of the three countries signed the final agreement. It went into effect on January 1, 1994 after being ratified in all three countries in 1993. The tariffs were gradually removed over

Figure 2.1 lists the major international trade pacts. The World Trade Organization (WTO) is a supranational organization that oversees the General Agreement on Tariffs and Trade (GATT). Important regional trade pacts include the North American Free Trade Agreement (NAFTA includes the U.S., Canada, and Mexico), the European Union (EU), and the Asia-Pacific Economic Cooperation pact (APEC

The TRIPS Agreement was issued by the World Trade Organisation (WTO) after arduous decision making over several years in the 1986-1994 'Uruguay Round ' of

The World Trade Organization (WTO) was established on 1995 as the result of Uruguay Round negotiations (1986 – 1994) and replacing the General Agreement on Tariffs and Trade (GATT) with the purposes of developing free trade without barriers and discrimination towards sustainable development . The relationship between the WTO and diverse non-commercial concerns was also raised in the debate of Uruguay Round, including government transparency, human rights in generally, cultural issues and even the fight against terrorism .

The General Agreement on Trade and Tariffs (GATT) was signed in 1947 as a global international organization that specifies and enforces rules for the conduct of international trade policies and serves as a forum for negotiations to reduce tariffs and other barriers to international trade.

The World Trade Organization has proven to be the top most successful joint trade institution of the 20th century. In spite of the lack of a central authority, the WTO has sustained trade assistance for the better half of the last five decades. Over which time the influence of the association has increased both in terms of developed and underdeveloped country membership, as well as achieving significant expansion and scope of its original mandate, but not without its problems. Yet despite numerous setbacks the WTO remains an important

Created in the Uruguay Round agreements for resolving trade quarrels and enforcing the rules and therefore for ensuring that trade flows smoothly (WTO, 2012).

rules, transparency and reduced trade barriers. The new WTO Round planned to start later this

Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. WTO is not about opening market barriers but in cases it also helps in maintain trade barriers like to protect its customers or to prevent spread of specific disease.

In December 2013, 159 members of the World Trade Organisation (WTO) adopted the Bali Agreement. The Agreement contained measures to streamline trade, provide more options for food security and boost trade in developing countries. This essay will critically analyse the WTO Doha Round of Negotiations, its attributes if any and failures to liberation of trade in agricultural products specifically subsidies, services and the protection of intellectual property rights. It will argue that to a large extent the question is true, that the Bali Agreement in December 2013 was only a modest development towards the liberation of world trade in so far that the WTO Doha Round of Negotiations has so far failed to reform WTO law for further liberalization

The World Trade Organization (WTO) was founded in 1995 as a result of the Uruguay Round. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT). So while it is still young, the multilateral trading system that was originally set up under GATT is well over 50 years old. The system was developed through a series of trade negotiations, or rounds, held under GATT. The goal of WTO “is to improve the welfare of the peoples of the member countries”. The WTO has a number of principles, which are the foundation of the multilateral trading system.

Exports and imports are the lifeblood of international trade, a trade system that was once a system of anarchy. Now the World Trade Organization (WTO) governs the trade of almost one hundred-seventy member nations. The WTO is a permanent global institution that “covering services, intellectual property and investment issues as well as pure merchandise trade.” (Ravenhill 423) It evolved from the General Agreement on Tariffs and Trade (GATT) after the result of the Uruguay round in 1994 and the passing of the “Marrakesh Agreement Establishing the World Trade Organization Act” becoming an international organization that monitors international trade. (Piewitt 66) The World Trade Organization has been a success so far with a roster of around one hundred and seventy-member nations and said member nations following trade agreements and case polices. The reason why it is important for member nations of the WTO to follow the social contract of the organization is that the WTO works on members honesty. The WTO lacks the ability to force its member nations to comply to the rules and rulings on trade. Such a dependence on members’ trust is a legacy of the Bretton Woods systems of international organizations after the second world war; yet, nations are ration actors and they see the WTO as a benefit to their nations wealth and continuous success.

In November 2001, WTO members are negotiating further trade liberalization under Doha Development Agenda to increase the participation of poorer countries.

It has assumed a leadership role among developing nations in global trade negotiations, and played a critical part in the Doha negotiations.Regional and Bilateral Trade AgreementsIndia has recently signed trade agreements with its neighbors and is seeking new ones with the East Asian countries and the United States. Its regional and bilateral trade agreements - or variants of them - are at different stages of development:  * India-Sri Lanka Free Trade Agreement, * Trade Agreements with Bangladesh, Bhutan, Sri Lanka, Maldives, China, and South Korea. * India-Nepal Trade Treaty, * Comprehensive Economic Cooperation Agreement (CECA) with Singapore.  * Framework Agreements with the Association of Southeast Asian Nations (ASEAN), Thailand and Chile.  Preferential Trade Agreements with  Afghanista, Chile, and Mercosur (the latter is a trading zone between Brazil, Argentina, Uruguay, and Paraguay).World Bank InvolvementAs a number of research institutions in the country provide the Government with good, just-in-time, and low-cost analytical advice on trade-related issues, the World Bank has focused on providing analysis on specialized subjects at the Government’s request.In the last three years, the Bank has been working with the Ministry of Commerce in a participatory manner to help the country develop an informed strategy for domestic reform and international negotiations.Given the sensitivity of trade policy and negotiation issues, the