A Guide to WTO and RTA

A Guide to WTO and RTA

World Trade Organization (WTO) is an international body monitoring international trade in goods and services. It is a rule based multilateral trading system. Currently WTO has 149 countries as its members (India is a founder member). Various trade agreements negotiated and accepted by member countries are the basis for conducting the trade. WTO, which is a successor to the General Agreement on Tariffs and Trade (GATT), has evolved over the decades since Second World War. WTO, whose objective is to enhance global trade by removing trade and non-trade barriers, influences international trade and domestic economies of the member countries. WTO agreements have also social and geo-political implications. The WTO Cell in DES, Tata Services Ltd, specializes in WTO related matters and has pioneered the concept of firm level WTO Audit. This monograph prepared in DES is a primer on WTO. It deals with broad overviews of WTO and Regional Trade Agreements, implications for the Indian industry and corporates.