- Jul 2021
- Core Course
The World Trade Organization (WTO), established and became operational on 1 January 1995 is, undoubtedly, the most prominent of all the international organizations regulating trade policies of its member states at the international level. While bringing into its fold a seemingly rule oriented approach, it continues to inherit some of the practices of the General Agreement on Tariffs and Trade (GATT) 1947. From functional point of view, the WTO has three main areas: (1) the GATT 1994 (dealing with trade in goods); (2) the General Agreement on Trade in Services (the GATS-providing for trade in services); (3) the Trade Related Intellectual Property Rights (TRIPS).
This course is intended to provide basic understanding of how international trade relations among the member states are regulated. The course focuses on trade in goods, the GATT 1994 with its supplementary agreements. Given the vast coverage of the subject matter under the WTO, the regulatory aspects of the GATS, the TRIPS Agreement, the Regional Trade Agreements (RTAs) and the TRIMS Agreement are excluded from the scope of the present course.
The WTO being the most influential intergovernmental organization, the subjects dealt with therein are assuming greater importance. As the word lawyering has been expanded to include chamber practice, persons having expertise in the WTO law are very much in demand.