WORLD TRADE ORGANIZATION (WTO)
The World Trade Organization (WTO) is that the solely international alliance handling the foundations of trade between nations. At its heart area unit the WTO agreements, negotiated and signed by the majority of the world’s mercantilism nations and legal in their parliaments.Functions of WTO
The former GATT was not really an organisation; it was merely a legal arrangement. On the other hand, the WTO is a new international organisation set up as a permanent body. It is designed to play the role of a watchdog in the spheres of trade in goods, trade in services, foreign investment, intellectual property rights, etc. Article III has set out the following five functions of WTO;(i) The WTO shall facilitate the implementation, administration and operation and further the objectives of this Agreement and of the Multilateral Trade Agreements, and shall also provide the frame work for the implementation, administration and operation of the plurilateral Trade Agreements.
(ii) The WTO shall provide the forum for negotiations among its members concerning their multilateral trade relations in matters dealt with under the Agreement in the Annexes to this Agreement.
(iii) The WTO shall administer the Understanding on Rules and Procedures Governing the Settlement of Disputes.
(iv) The WTO shall administer Trade Policy Review Mechanism.
(v) With a view to achieving greater coherence in global economic policy making, the WTO shall cooperate, as appropriate, with the international Monetary Fund (IMF) and with the International Bank for Reconstruction and Development (IBRD) and its affiliated agencies.
Objectives of WTO
Important objectives of WTO are mentioned below:(i) to implement the new world trade system as visualised in the Agreement;
(ii) to promote World Trade in a manner that benefits every country;
(iii) to ensure that developing countries secure a better balance in the sharing of the advantages resulting from the expansion of international trade corresponding to their developmental needs;
(iv) to demolish all hurdles to an open world trading system and usher in international economic renaissance because the world trade is an effective instrument to foster economic growth;
(v) to enhance competitiveness among all trading partners so as to benefit consumers and help in global integration;
(vi) to increase the level of production and productivity with a view to ensuring level of employment in the world;
(vii) to expand and utilize world resources to the best;
(viii) to improve the level of living for the global population and speed up economic development of the member nations.
Consumers Eye (Pakistan) (TCEP) support the objectives of WTO Specially their 5th point “ to enhance competitiveness among all trading partners so as to benefit consumers and help in the global integration” “The Consumers Eye Pakistan” is a non profit registered social welfare organization (NGO), for the protection of Consumer rights in Pakistan since 2005. The Consumers Eye Pakistan’s vision is a world where everyone has access to safe and sustainable goods and services, where the strength of the collective power is used for the good of consumers throughout Pakistan. TCEP’s is working to put the rights of consumers at the heart of decision-making. TCEP host seminars and events especially on occasion of World Consumer Rights Day & World Standards Day every year with the collaboration of PSQCA and other organizations related to consumer rights protection, to create consumer awareness against unregistered, Substandard and counterfeit Products and Services. The Consumers Eye Pakistan cooperates with PSQCA to promote Quality Standard Culture in Pakistan. TCEP is actively involved with PSQCA in improving quality and standards of the citizens by advocating accountability and code of conduct in government and society to promote standardization and Quality consciousness culture in Pakistan for the benefit of consumers. TCEP’s representatives have been going with the PSQCA raiding Task force team to open markets as an independent observer. TCEP represent consumers as member in different technical Committees of Standardization in PSQCA. The Consumers Eye Pakistan campaigns on the domestic and international issues that matter to consumers. TCEP seeks to hold corporations to account and demands government action to put consumer concerns first, acting as a global watchdog: campaigning against any behavior that threatens, ignores or abuses the principles of consumer protection. The Consumers Eye Pakistan also organizes workshops, seminars and colloquiums throughout the Pakistan, bringing together people from different sections of the society, including politicians, economists, and experts from related fields, to create awareness and build opinion on nationally important issues. Carrying out studies and researches on various issues related to Consumers and consumables. TCEP publish material for consumer awareness in Pakistan. The Consumers Eye Pakistan have introduced an annual series of awards “Quality-Standard Award” in 2010 to appreciate for the highly valuable Products/Brands and
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