Page 46 - DMGT547_INTERNATIONAL_MARKETING
P. 46
Unit 2: World Trade Organization
2.3 Establishment of World Trade Organization Notes
The administrative framework of WTO is shown in the given chart:
Figure 2.2: Framework of WTO
2.4 The Uruguay Round Package: Organization Structure of the WTO
The Uruguay Round began in 1986. It was the most ambitious round to date, hoping to expand
the competence of the GATT to important new areas such as services, capital, intellectual property,
and agriculture.
Agriculture was essentially exempted from previous agreements as it was given special status
in the areas of import quotas and export subsidies, with only mild caveats. However, by the
time of the Uruguay round, many countries considered the exception of agriculture to be
sufficiently glaring that they refused to sign a new deal without some movement on agricultural
products. These fourteen countries came to be known as the “Cairns Group”, and included
mostly small and medium sized agricultural exporters such as Australia, Brazil, Canada,
Indonesia, and New Zealand.
LOVELY PROFESSIONAL UNIVERSITY 41