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Business Guide to the World Trading System

image of Business Guide to the World Trading System

As world trade becomes more and more global, the rules of the world trading system are being continuously refined. For a better participation in the world trading system, it has become necessary to understand clearly the business implications of these rules. The Business Guide to the World Trading System starts with an overview of the World Trade Organization’s (WTO) legal system and the benefits that the business community can derive from it. The Guide explains the role of the WTO as a forum for negotiations, presents the rules applicable to trade in goods; reviews the main features of the rules of the General Agreement on Trade in Services; explains the rules applicable to government procurement and State trading; describes the provisions of the Agreement on Trade-Related Aspects of Intellectual Property Rights; and looks at the new subject areas on which analytical work is being carried out to determine whether negotiations within the WTO on the development of new rules to cover their trade-related aspects would be desirable.

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Safeguard measures to restrict imports in emergency situations

The Agreement on Safeguards authorizes importing countries to restrict imports for temporary periods if, after investigations carried out by competent authorities, it is established that imports are taking place in such increased quantities (either absolute or in relation to domestic production) as to cause serious injury to the domestic industry that produces like or directly competitive products. It further provides that such measures, which could take the form of an increase in tariffs over bound rates or the imposition of quantitative restrictions, should normally be applied on an MFN basis to imports from all sources.

English Spanish, French

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