World Trade Organization Ministerial Conference of 1998
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1. Geneva – Geneva is the second most populous city in Switzerland and is the most populous city of Romandy, the French-speaking part of Switzerland. Situated where the Rhône exits Lake Geneva, it is the capital of the Republic, the municipality has a population of 198,072, and the canton has 484,736 residents. In 2014, the compact agglomération du Grand Genève had 946,000 inhabitants in 212 communities in both Switzerland and France, within Swiss territory, the commuter area named Métropole lémanique contains a population of 1.25 million. This area is essentially spread east from Geneva towards the Riviera area and north-east towards Yverdon-les-Bains, Geneva is the city that hosts the highest number of international organizations in the world. It is also the place where the Geneva Conventions were signed, Geneva was ranked as the worlds ninth most important financial centre for competitiveness by the Global Financial Centres Index, ahead of Frankfurt, and third in Europe behind London and Zürich. A2009 survey by Mercer found that Geneva has the third-highest quality of life of any city in the world, the city has been referred to as the worlds most compact metropolis and the Peace Capital. In 2009 and 2011, Geneva was ranked as, respectively, the city was mentioned in Latin texts, by Caesar, with the spelling Genava, probably from a Celtic toponym *genawa- from the stem *genu-, in the sense of a bending river or estuary. The medieval county of Geneva in Middle Latin was known as pagus major Genevensis or Comitatus Genevensis, the name takes various forms in modern languages, Geneva /dʒᵻˈniːvə/ in English, French, Genève, German, Genf, Italian, Ginevra, and Romansh, Genevra. The city in origin shares its name, *genawa estuary, with the Italian port city of Genoa, Geneva was an Allobrogian border town, fortified against the Helvetii tribe, when the Romans took it in 121 BC. It became Christian under the Late Roman Empire, and acquired its first bishop in the 5th century, having been connected to the bishopric of Vienne in the 4th. In the Middle Ages, Geneva was ruled by a count under the Holy Roman Empire until the late 14th century, around this time the House of Savoy came to dominate the city. In the 15th century, a republican government emerged with the creation of the Grand Council. In 1541, with Protestantism in the ascendancy, John Calvin, by the 18th century, however, Geneva had come under the influence of Catholic France, which cultivated the city as its own. France also tended to be at odds with the ordinary townsfolk, in 1798, revolutionary France under the Directory annexed Geneva. At the end of the Napoleonic Wars, on 1 June 1814, in 1907, the separation of Church and State was adopted. Geneva flourished in the 19th and 20th centuries, becoming the seat of international organizations. Geneva is located at 46°12 North, 6°09 East, at the end of Lake Geneva. It is surrounded by two chains, the Alps and the JuraGeneva – Top left: Palace of Nations, Middle left: ATLAS experiment at CERN, Right: Jet d'Eau, Bottom: View over Geneva and the lake.
2. World Trade Organization – The World Trade Organization is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade, most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round. The WTO is attempting to complete negotiations on the Doha Development Round, as of June 2012, the future of the Doha Round remained uncertain, the work programme lists 21 subjects in which the original deadline of 1 January 2005 was missed, and the round is still incomplete. This impasse has made it impossible to launch new WTO negotiations beyond the Doha Development Round, as a result, there have been an increasing number of bilateral free trade agreements between governments. As of July 2012, there were various groups in the WTO system for the current agricultural trade negotiation which is in the condition of stalemate. The WTOs current Director-General is Roberto Azevêdo, who leads a staff of over 600 people in Geneva, a trade facilitation agreement, part of the Bali Package of decisions, was agreed by all members on 7 December 2013, the first comprehensive agreement in the organizations history. Seven rounds of negotiations occurred under GATT, the first real GATT trade rounds concentrated on further reducing tariffs. Then, the Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement, because these plurilateral agreements were not accepted by the full GATT membership, they were often informally called codes. Several of these codes were amended in the Uruguay Round, only four remained plurilateral, but in 1997 WTO members agreed to terminate the bovine meat and dairy agreements, leaving only two. Well before GATTs 40th anniversary, its members concluded that the GATT system was straining to adapt to a new globalizing world economy. In response to the problems identified in the 1982 Ministerial Declaration, the GATT still exists as the WTOs umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations. GATT1994 is not however the only legally binding agreement included via the Final Act at Marrakesh, the highest decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions, the Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements. When agricultural export subsidies were agreed to be phased out and adoption of the European Unions Everything, the WTO launched the current round of negotiations, the Doha Development Round, at the fourth ministerial conference in Doha, Qatar in November 2001. This was to be an effort to make globalization more inclusive and help the worlds poor, particularly by slashing barriers. The initial agenda comprised both further trade liberalization and new rule-making, underpinned by commitments to strengthen substantial assistance to developing countries. Among the various functions of the WTO, these are regarded by analysts as the most important and it provides a forum for negotiations and for settling disputes. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and trainingWorld Trade Organization – The economists Harry White (left) and John Maynard Keynes at the Bretton Woods Conference. Both had been strong advocates of a central-controlled international trade environment and recommended the establishment of three institutions: the IMF (for fiscal and monetary issues); the World Bank (for financial and structural issues); and the ITO (for international economic cooperation).
3. Switzerland – Switzerland, officially the Swiss Confederation, is a federal republic in Europe. It consists of 26 cantons, and the city of Bern is the seat of the federal authorities. The country is situated in western-Central Europe, and is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning an area of 41,285 km2. The establishment of the Old Swiss Confederacy dates to the medieval period, resulting from a series of military successes against Austria. Swiss independence from the Holy Roman Empire was formally recognized in the Peace of Westphalia in 1648. The country has a history of armed neutrality going back to the Reformation, it has not been in a state of war internationally since 1815, nevertheless, it pursues an active foreign policy and is frequently involved in peace-building processes around the world. In addition to being the birthplace of the Red Cross, Switzerland is home to international organisations. On the European level, it is a member of the European Free Trade Association. However, it participates in the Schengen Area and the European Single Market through bilateral treaties, spanning the intersection of Germanic and Romance Europe, Switzerland comprises four main linguistic and cultural regions, German, French, Italian and Romansh. Due to its diversity, Switzerland is known by a variety of native names, Schweiz, Suisse, Svizzera. On coins and stamps, Latin is used instead of the four living languages, Switzerland is one of the most developed countries in the world, with the highest nominal wealth per adult and the eighth-highest per capita gross domestic product according to the IMF. Zürich and Geneva have each been ranked among the top cities in the world in terms of quality of life, with the former ranked second globally, according to Mercer. The English name Switzerland is a compound containing Switzer, a term for the Swiss. The English adjective Swiss is a loan from French Suisse, also in use since the 16th century. The name Switzer is from the Alemannic Schwiizer, in origin an inhabitant of Schwyz and its associated territory, the Swiss began to adopt the name for themselves after the Swabian War of 1499, used alongside the term for Confederates, Eidgenossen, used since the 14th century. The data code for Switzerland, CH, is derived from Latin Confoederatio Helvetica. The toponym Schwyz itself was first attested in 972, as Old High German Suittes, ultimately related to swedan ‘to burn’Switzerland – Founded in 44 BC by Lucius Munatius Plancus, Augusta Raurica was the first Roman settlement on the Rhine and is now among the most important archaeological sites in Switzerland.
4. World Trade Organization accession and membership – The original member states of the World Trade Organization are the parties to the GATT after ratifying the Uruguay Round Agreements, and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification, all other members have joined the organization as a result of negotiation, and membership consists of a balance of rights and obligations. As is typical of WTO procedures, an offer of accession is only given once consensus is reached among interested parties. The process takes five years, on average, but it can take some countries almost a decade if the country is less than fully committed to the process. The shortest accession negotiation was that of Kyrgyzstan, lasting 2 years and 10 months, the longest were that of Russia, lasting 19 years and 2 months, Vanuatu, lasting 17 years and 1 month, and China, lasting 15 years and 5 months. As of 2007, WTO member states represented 96. 4% of global trade and 96. 7% of global GDP, iran, followed by Algeria, are the economies with the largest GDP and trade outside the WTO, using 2005 data. The process of accession can be broken down into four major stages, the government applying for membership has to describe all aspects of its trade and economic policies that have a bearing on WTO agreements. The application is submitted to the WTO in a memorandum which is examined by a working party open to all interested WTO Members, for large countries such as Russia, numerous countries participate in this process. For smaller countries, the Quadrilateral group of countries – consisting of the EU, the United States, Canada and Japan – and an applicants neighboring countries are typically most involved. The WP determines the terms and conditions of entry into the WTO for the applicant nation and these talks cover tariff rates and specific market access commitments, and other policies in goods and services. The new members commitments are to apply equally to all WTO members under normal non-discrimination rules, in other words, the talks determine the benefits other WTO members can expect when the new member joins. The talks can be complicated, it has been said that in some cases the negotiations are almost as large as an entire round of multilateral trade negotiations. When the bilateral talks conclude, the working party finalizes the terms of accession, sends an accession package, which includes a summary of all the WP meetings, the Protocol of Accession, and lists of the member-to-bes commitments to the General Council or Ministerial Conference. Once the General Council or Ministerial Conference approves of the terms of accession, the documents used in the accession process which are embargoed during the accession process are released once the nation becomes a member. As of July 2016, the WTO has 164 members, as of 2016, four of the successor states of the SFRY are WTO members, and the remaining two are observers negotiating membership. Four other states, China, Lebanon, Liberia, Syria, were parties to GATT, the remaining WTO members acceded after first becoming WTO observers and negotiating membership. China and Liberia have since acceded to the WTO, the 28 states of the European Union are dually represented, as the EU is a full member of the organization. Thus, Hong Kong became a GATT contracting party, by the now terminated sponsorship procedure of the United Kingdom, the WTO also has 22 observer states, that with the exception of the Holy See must start their accession negotiations within five years of becoming observersWorld Trade Organization accession and membership – Draft Working Party Report or Factual Summary adopted
5. International Trade Centre – The International Trade Centre is a subsidiary organization of the World Trade Organization and the United Nations Conference on Trade and Development and provides trade-related technical assistance. The pure focus on technical assistance is rare within the UN system as most other organizations that provide technical assistance usually engage in multiple areas, ITC has its headquarters in Geneva and one field office in Mexico City. The agreement was reached in 1967 and the International Trade Centre was officially established on 1 January 1968, iTCs service offering is nowhere described in a systematical way. Thus, the following description necessarily contains inaccuracies, ITC offers numerous different services to its beneficiaries. In doing so it differentiates between three groups of beneficiaries, Policymakers trade-support institutions, and enterprises. Some services are designed for one of these groups while others have a universal character. In principle, there is no predefined list of services that ITC is limited to, an interactive online database on international trade statistics. It presents indicators on export performance, international demand, alternative markets, users can choose to see the data either with pre-calculated trade indicators or in times-series from 2001 onward. In 2012, Trade Map, in collaboration with Kompass, included company contact information module to help companies identify trading partners in 64 countries, Trade Map sources yearly data from UN COMTRADE and collect monthly data directly from national statistics bureaus or customs authorities. An analytical web application the serves the Millennium Development Goals efforts the aim of enhancing market access transparency, Market Access Map is used by both economic operators to find information on market requirements and trade policymakers to prepare for trade negotiations. By 2015, Market Access Map includes MFN and preferential tariffs of over 190 countries as well as Non-Tariff Measures data for approximately 70 countries and it recently became available in French and Spanish in response to growing number of active users from Latin America and Africa. ITC had since its creation in 1964 six Executive Directors, twice in its history the position was vacant, in the early Seventies and the early Nineties. ITCs Executive Director is an international civil servant of the United Nations with the level of Assistant Secretary-General. ITCs Executive Director as well as the Deputy-Executive Director are appointed by the heads of its two parent organizations, the Director-General of the WTO and the Secretary-General of the UNCTAD, United Nations Conference on Trade and Development World Trade Organization Trade and development Official websiteInternational Trade Centre
6. Criticism of the World Trade Organization – The stated aim of the World Trade Organization is to ensure that trade flows as smoothly, predictably and freely as possible. However, it is important to note that the WTO does not claim to be a free market organization, according to the WTO, it is sometimes described as a free trade institution, but that is not entirely accurate. The system does allow tariffs and, in limited circumstances, other forms of protection, more accurately, it is a system of rules dedicated to open, fair and undistorted economic competition. The actions and methods of the World Trade Organization evoke strong antipathies, among other things, the WTO is accused of widening the social gap between rich and poor it claims to be fixing. UNCTAD estimates that the market distortions cost the developing countries $700 billion annually in lost export revenue, Khor argues that developing countries have not benefited from the WTO Agreements of the Uruguay Round and, therefore, the credibility of the WTO trade system could be eroded. Jagdish Bhagwati asserts, however, that there is greater tariff protection on manufacturers in the poor countries, other critics claim that the issues of labor and environment are steadfastly ignored. Steve Charnovitz, former Director of the Global Environment and Trade Study, on the other side, Khor responds that if environment and labor were to enter the WTO system it would be conceptually difficult to argue why other social and cultural issues should also not enter. He also argues that trade measures have become a vehicle for big corporations, scholars have identified GATT Article XX as a central exception provision that may be invoked by states to deploy policies that conflict with trade liberalization. Bhagwati is also critical towards rich-country lobbies seeking on imposing their unrelated agendas on trade agreements, according to Bhagwati, these lobbies and especially the rich charities have now turned to agitating about trade issues with much energy understanding. Therefore, both Bhagwati and Arvind Panagariya have criticized the introduction of TRIPs into the WTO framework, fearing that such non-trade agendas might overwhelm the organizations function, according to Panagariya, taken in isolation, TRIPs resulted in reduced welfare for developing countries and the world as a whole. For a discussion on the incorporation of labor rights into the WTO, results of green room discussions are presented to the rest of the WTO which may vote on the result. They have thus proposed the establishment of a small, informal steering committee that can be delegated responsibility for developing consensus on trade issues among the member countries. The Third World Network has called the WTO the most non-transparent of international organisations, because the vast majority of developing countries have very little real say in the WTO system. Dr Caroline Lucas recommended that such an assembly have a prominent role to play in the form of parliamentary scrutiny, and also in the wider efforts to reform the WTO processes. The lack of transparency is often seen as a problem for democracy, politicians can negotiate for regulations that would not be possible or accepted in a democratic process in their own nations. Some countries push for certain standards in international bodies and then bring those regulations home under the requirement of harmonization. This is often referred to as Policy Laundering, reforming WTO Decision Making, Lessons from Singapore and SeattleCriticism of the World Trade Organization – Protestors clashing with Hong Kong police in the Wan Chai waterfront area during the WTO Ministerial Conference of 2005.
7. Doha Development Round – The Doha Development Round or Doha Development Agenda is the latest trade-negotiation round of the World Trade Organization which commenced in November 2001 under then director-general Mike Moore. Its objective was to trade barriers around the world. The Doha Round began with a meeting in Doha, Qatar in 2001. Subsequent ministerial meetings took place in Cancún, Mexico, and Hong Kong, there is also considerable contention against and between the EU and the US over their maintenance of agricultural subsidies—seen to operate effectively as trade barriers. Since the breakdown of negotiations in 2008, there have been repeated attempts to revive the talks, intense negotiations, mostly between the US, China, and India, were held at the end of 2008 seeking agreement on negotiation modalities, an impasse which was not resolved. In April 2011, then director-general Pascal Lamy asked members to think hard about the consequences of throwing away ten years of solid multilateral work. Adoption of the Bali Ministerial Declaration on 7 December 2013 for the first time successfully addressed bureaucratic barriers to commerce—a small part of the Doha Round agenda, however, as of January 2014, the future of the Doha Round remains uncertain. Doha Round talks are overseen by the Trade Negotiations Committee, whose chair is the WTO’s director-general, the negotiations are being held in five working groups and in other existing bodies of the WTO. Selected topics under negotiation are discussed below in five groups, market access, development issues, WTO rules, trade facilitation, before the Doha ministerial, negotiations had already been under way on trade in agriculture and trade in services. These ongoing negotiations had been required under the last round of trade negotiations. However, some countries, including the United States, wanted to expand the agriculture and services talks to allow trade-offs and these became known as the Singapore issues. These issues were pushed at successive ministerials by the European Union, Japan and Korea, since no agreement was reached, the developed nations pushed that any new trade negotiations must include the mentioned issues. Due to the failure of the Millennium Round, it was decided that negotiations would not start again until the next conference in 2001 in Doha. Just months before the Doha ministerial, the United States had been attacked by terrorists on 11 September 2001, some government officials called for greater political cohesion and saw the trade negotiations as a means toward that end. Some officials thought that a new round of trade negotiations could help a world economy weakened by recession. According to the WTO, the year 2001 showed. the lowest growth in output in more than two decades, and world trade contracted that year, the intent of the round, according to its proponents, was to make trade rules fairer for developing countries. However, by 2008, critics were charging that the round would expand a system of rules that were bad for development. The 2001 ministerial declaration established a deadline for concluding negotiations for the Doha round at January 1,2005Doha Development Round – The Hong Kong Convention Center, which was the site of the Sixth WTO Ministerial Conference
8. General Agreement on Tariffs and Trade – General Agreement on Tariffs and Trade was a multilateral agreement regulating international trade. According to its preamble, its purpose was the reduction of tariffs and other trade barriers. It was negotiated during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization, GATT was signed by 23 nations in Geneva on October 30,1947 and took effect on January 1,1948. It lasted until the signature by 123 nations in Marrakesh on April 14,1994 of the Uruguay Round Agreements, the original GATT text is still in effect under the WTO framework, subject to the modifications of GATT1994. GATT held a total of nine rounds, The second round took place in 1949 in Annecy,13 countries took part in the round. The main focus of the talks was more tariff reductions, around 5000 in total, the third round occurred in Torquay, England in 1951. Thirty-eight countries took part in the round,8,700 tariff concessions were made totaling the remaining amount of tariffs to ¾ of the tariffs which were in effect in 1948. The contemporaneous rejection by the U. S. of the Havana Charter signified the establishment of the GATT as a world body. The fourth round returned to Geneva in 1955 and lasted until May 1956, twenty-six countries took part in the round. $2.5 billion in tariffs were eliminated or reduced, the fifth round occurred once more in Geneva and lasted from 1960-1962. The talks were named after U. S. Treasury Secretary and former Under Secretary of State, Douglas Dillon, twenty-six countries took part in the round. Along with reducing over $4.9 billion in tariffs, it also yielded discussion relating to the creation of the European Economic Community, the sixth round of GATT multilateral trade negotiations, held from 1963 to 1967. It was named after U. S. President John F. Kennedy in recognition of his support for the reformulation of the United States trade agenda and this Act gave the President the widest-ever negotiating authority. Japans high economic growth rate portended the major role it would play later as an exporter, indeed, there was an influential American view that saw what became the Kennedy Round as the start of a transatlantic partnership that might ultimately lead to a transatlantic economic community. To an extent, this view was shared in Europe, an example of this was the French veto in January 1963, before the round had even started, on membership by the United Kingdom. Another was the crisis of 1965, which ended in the Luxembourg Compromise. Preparations for the new round were immediately overshadowed by the Chicken War, some participants in the Round had been concerned that the convening of UNCTAD, scheduled for 1964, would result in further complications, but its impact on the actual negotiations was minimal. The working hypothesis for the negotiations was a linear tariff cut of 50% with the smallest number of exceptionsGeneral Agreement on Tariffs and Trade – Terminology
9. Agreement on Government Procurement – The Agreement on Government Procurement is a plurilateral agreement under the auspices of the World Trade Organization that entered into force in 1981. It was then renegotiated in parallel with the Uruguay Round in 1994, the agreement was subsequently revised on 30 March 2012. The revised GPA came into effect on 6 July 2014 and it regulates the government procurement of goods and services by the public authorities of the parties to the agreement, based on the principles of openness, transparency and non-discrimination. Several commentators have suggested that following the United Kingdoms departure from the European Union, the plurilateral Agreement on Government ProcurementAgreement on Government Procurement – Parties
10. Information Technology Agreement – Since 1997 a formal Committee under the WTO watches over the following of the Declaration and its Implementations. The aim of the treaty is to all taxes and tariffs on information technology products by signatories to zero. Ministerial Declaration on Trade in Information Technology Products, council for Trade in Goods – Implementation of the Ministerial Declaration on Trade in Information Technology Products. World Trade G/L/160 doc#97-1356, G/L/160/Add.1 doc#97-1935, G/L/160/Add.2 doc#97-3676,2 April 1997,5 May 1997,17 September 1997Information Technology Agreement – Information Technology Agreement parties
11. Pascal Lamy – Pascal Lamy is a French political consultant and businessman. He was the Director-General of the World Trade Organization until 1 September 2013 and his appointment took effect on 1 September 2005 for a four-year term. In April 2009, WTO members reappointed Lamy for a second four-year term and he was then succeeded by Roberto Azevêdo. Pascal Lamy was also European Commissioner for Trade and is currently the Honorary President of the Paris-based think tank, Notre Europe. Born in Levallois-Perret, Hauts-de-Seine, a suburb of Paris, Lamy studied at Sciences Po Paris, from HEC and ÉNA, Lamy is also an honorary graduate of the University of Warwick. He then joined the service, and in this role he ended up serving as an adviser to Jacques Delors as Economics and Finance Minister. Lamy has been a member of the French Socialist Party since 1969, when Delors became President of the European Commission in 1984, he took Lamy with him to serve as chef de cabinet, which he did until the end of Delors term in 1994. During his time there, Lamy became known as the Beast of the Berlaymont and he was seen as ruling Delors office with a rod of iron, with no-one able to bypass or manipulate him and those who tried being banished to one of the less pleasant European postings. Lamy briefly moved into business at Crédit Lyonnais, promoted to second in command, he was involved in the restructuring and privatisation of the bank. Returning to the European Commission in 1999, Lamy was appointed European Commissioner for Trade by Commission President Romano Prodi, Lamy served to the expiry of the commissions term in 2004. His ability to manage the powerful civil servants in his department was noted, during his time in office, he pushed for a new Doha round of world trade talks and advocated reform within the WTO. On 13 May 2005, Lamy was chosen as the next director-general of the World Trade Organization and he had been nominated by the European Union and won over candidates including Carlos Pérez del Castillo of Uruguay and Jaya Krishna Cuttaree of Mauritius. On 30 April 2009, Lamy was re-elected unanimously by the WTO General Council for a term of four years. He also served as the chairman of the organizations Trade Negotiations Committee and he was the WTOs fifth director-general. His hobbies include running and cycling, the Geneva Consensus, Making Trade Work for All. The Economic Summit and the European CommunityPascal Lamy – Pascal Lamy
12. Supachai Panitchpakdi – Supachai Panitchpakdi was Secretary-General of the UN Conference on Trade and Development from 1 September 2005 to 31 August 2013. Prior to this, he was the Director-General of the World Trade Organization from September 1,2002 to September 1,2005 and he was succeeded by Pascal Lamy. In 1986 Supachai Panitchpakdi was appointed as Thailands Deputy Minister of Finance, in 1992 he returned to politics and became Deputy Prime Minister until 1995, responsible for trade and economics. During the Asian financial crisis in November 1997 he returned to be Deputy Prime Minister, in September 1999 he was elected to become Director-General of the World Trade Organization, sharing the post with competitor Mike Moore when a decision could not be reached. Taking the second half of the term, he entered office on September 1,2002. In March 2005 he was appointed to become the Secretary-General of the UN Conference on Trade and Development following his term at the WTO and he was appointed for a second four-year term in September 2009. Keen to reform and revitalise the organisation, he has established a Panel of Eminent Persons to oversee the start of reform of UNCTAD. Supachai received his masters degree in Economics, Development Planning and his Ph. D. in Economic Planning, in 1973, he completed his doctoral dissertation under supervision of Professor Jan Tinbergen, the first Nobel laureate in economics. In the same year, he went to Cambridge University as a fellow to conduct research on development models. He published numerous books, including Educational Growth in Developing Countries, Globalization and Trade in the New Millennium and China, UNCTAD - Secretary-Generals Office UNCTAD - Secretary-Generals Biography UNDT judgment UNDT/2012/136 Biography at WTOSupachai Panitchpakdi – Supachai Panitchpakdi
13. Alejandro Jara – Alejandro Jara was a Deputy Director-General of the World Trade Organization. He served in this position from 2005 to 2013 and his career began in 1976 when he joined the Foreign Service of Chile to primarily focus on international economic relations. He was appointed Director for Bilateral Economic Affairs in 1993 and Director for Multilateral Economic Affairs in 1994, in 1999, he was designated Director General for International Economic Relations. He was appointed in 2000 as Ambassador, Permanent Representative of Chile to the World Trade Organization in Geneva, hes written a variety of papers on international tradeAlejandro Jara – Alejandro Jara (2009).
14. Economy of Afghanistan – The recent improvement is also due to dramatic improvements in agricultural production and the end of a four-year drought in most of the country. The government of Afghanistan claims that the country holds up to $3 trillion in untapped mineral deposits. However, due to the conflicts, it one of the least developed countries in the world. The nations GDP stands at about $34 billion with a rate of $19.85 billion. About 35% of its population is unemployed and 36% live below the poverty line, suffering from shortages of housing, clean drinking water. Afghanistan is one of the poorest countries in Eurasia, historically, there has been a lack of information and reliable statistics about Afghanistans economy. In the early modern period under the rule of kings Abdur Rahman Khan and Habibullah Khan and this slowed the long-term development of Afghanistan during that period. An emphasis was placed on the manufacture of weapons and other military materiel and this process was in the hands of a small number of western experts invited to Kabul by the Afghan kings. Otherwise, it was not possible for outsiders, particularly westerners, the country began facing severe economic hardships during the 1970s when neighboring Pakistan, under Zulfikar Ali Bhutto, began closing the Pakistan-Afghanistan border crossings. This move resulted in Afghanistan increasing political and economic ties with its northern neighbor, the 1979 Soviet invasion and ensuing civil war destroyed much of the countrys limited infrastructure, and disrupted normal patterns of economic activity. Eventually, Afghanistan went from an economy to a centrally planned economy up until 2002 when it was replaced by a free market economy. Gross domestic product has fallen substantially since the 1980s due to disruption of trade and transport as well as loss of labor, continuing internal strife severely hampered domestic efforts to rebuild the nation or provide ways for the international community to help. According to the International Monetary Fund, the Afghan economy grew 20% in the year ending in March 2004. The growth is attributed to international aid and to the end of droughts, an estimated $4.4 billion of aid entered the nation from 2002 to 2004. A GDP of $4 billion in fiscal year 2003 was recalculated by the IMF to $6.1 billion, mean graduate pay was $0.56 per man-hour in 2010. The Afghan economy has always been agricultural, despite the fact that only 12% of its land is arable. Agriculture production is constrained by an almost total dependence on erratic winter snows, as of 2007, the countrys fruit and nut exports were at $113 million per year, but according to an estimate could grow to more than $800 million per year in 10 years given sufficient investment. Afghanistan is known for producing some of the finest fruits and vegetables, especially pomegranates, apricots, grapes, melons, several provinces in the north of the country are famous for pistachio cultivation but the area currently lacks proper marketing and processing plantsEconomy of Afghanistan – Afghan Ministry of Finance in Kabul in 2002
15. Economy of Albania – The Economy of Albania has undergone a transition from its Communist past into an open-market economy since the early 1990s. As of 2014, exports seemed to be gaining momentum and had increased 300% from 2008, Albania has the second largest oil deposits in the Balkans and the largest onshore oil reserves in Europe. The collapse of communism in Albania came later and was more chaotic than in other Eastern European countries and was marked by an exodus of refugees to Italy. The country attempted to transition to autarky, but this eventually failed badly, attempts at reform began in earnest in early 1992 after real GDP fell by more than 50% from its peak in 1989. Albania currently suffers from high organised crime and corruption rates, key elements included price and exchange system liberalization, fiscal consolidation, monetary restraint, and a firm income policy. Most agriculture, state housing, and small industry were privatized and this trend continued with the privatization of transport, services, and small and medium-sized enterprises. In 1995, the government began privatizing large state enterprises, after reaching a low point in the early 1990s, the economy slowly expanded again, reaching its 1989 level by the end of the decade. This is a chart of Gross Domestic Product of Albania in US dollars based on Purchasing Power Parity from estimates by the International Monetary Fund, for purchasing power parity comparisons, the US dollar is exchanged at 49 leks. Mean wages were $3.83 per man-hour in 2009, Albania is an upper-middle income country by Western European standards, with GDP per capita greater than the several countries in the region. According to Eurostat, Albanias GDP per capita stood at 35 percent of the EU average in 2008, Unemployment rate of 17. 3% is considerably higher than many countries in Balkans, For Example, Serbia has an unemployment rate of 16. 6%. Results of Albanias efforts were initially encouraging, led by the agricultural sector, real GDP grew by an estimated 11% in 1993, 8% in 1994, and more than 8% in 1995, with most of this growth in the private sector. Annual inflation dropped from 25% in 1991 to single-digit numbers, the Albanian currency, the lek, stabilized. Albania became less dependent on food aid, the speed and vigour of private entrepreneurial response to Albanias opening and liberalizing was better than expected. Beginning in 1995, however, progress stalled, with negligible GDP growth in 1996, a weakening of government resolve to maintain stabilization policies in the election year of 1996 contributed to renewal of inflationary pressures, spurred by the budget deficit which exceeded 12%. Inflation approached 20% in 1996 and 50% in 1997, the lek initially lost up to half of its value during the 1997 crisis, before rebounding to its January 1998 level of 143 to the dollar. The new government, installed in July 1997, has taken measures to restore public order and to revive economic activity. Albania is currently undergoing an intensive macroeconomic restructuring regime with the International Monetary Fund, the need for reform is profound, encompassing all sectors of the economy. In 2000, the oldest commercial bank, Banka Kombetare Tregtare/BKT was privatized, in 2004, the largest commercial bank in Albania—then the Savings Bank of Albania—was privatised and sold to Raiffeisen Bank of Austria for US$124 millionEconomy of Albania – Albania Export Treemap, 2012
16. Economy of Algeria – In 2014, the Algerian economy expanded by 4%, up from 2. 8% in 2013. Growth was driven mainly by the oil and gas sector. In 2012, the Algerian economy grew by 2. 5%, excluding hydrocarbons, growth has been estimated at 5. 8%. Inflation is increasing and is estimated at 8. 9%, the oil and gas sector is the country’s main source of revenues, generated about 70% of total budget receipts. The economy is projected to grow by 3. 2% in 2013, the country’s external position remained comfortable in 2012, with a trade surplus of about USD27.18 billion. Oil and gas export earnings made up more than 97% of total exports, Algeria has enormous possibilities to boost its economic growth, including huge foreign-exchange reserves derived from oil and gas. A development strategy targeting stronger, sustained growth would create jobs, especially for young people. The total imports and exports on the eve of the French invasion did not exceed £175,000. By 1850, the figures had reached £5,000,000, in 1868, £12,000,000, in 1880, £17,000,000, from this point progress was slower and the figures varied considerably year by year. In 1905 the total value of the trade was £24,500,000. About five-sixths of the trade is with or via France, into which country several Algerian goods have been admitted duty-free since 1851, French goods, except sugar, have been admitted into Algeria without payment of duty since 1835. After the 1892 increase of the French minimum tariff which applied to Algeria for the first time, foreign trade greatly diminished. GDP per capita grew 40 percent in the Sixties reaching a growth of 538% in the Seventies But this proved unsustainable. Failure of timely reforms by successive governments caused the current GDP per capita to shrink by 28% in the Nineties and this is a chart of trend of gross domestic product of Algeria at market prices estimated by the International Monetary Fund with figures in millions of Algerian Dinars. For purchasing power parity comparisons, the US Dollar is exchanged at 70.01 Algerian Dinars only, average wages in 2007 hover around $18–22 per day. In March 2006, Russia agreed to erase $4.74 billion of Algerias Soviet-era debt during a visit by President Vladimir Putin to the country, Algerias economy has grown at about 4% annually since 1999. The countrys foreign debt has fallen from a high of $28 billion in 1999 to its current level of $5 billion, however, an ongoing drought, the after effects of the November 10,2001 floods and an uncertain oil market make prospects for 2002-03 more problematic. The government pledges to continue its efforts to diversify the economy by attracting foreign, President Bouteflika has announced sweeping economic reforms, which, if implemented, will significantly restructure the economyEconomy of Algeria – View of the oil port of Béjaïa.
17. Economy of Angola – The Economy of Angola is one of the fastest-growing in the world, with reported annual average GDP growth of 11.1 percent from 2001 to 2010. It is still recovering from 27 years of the war that plagued the country from its independence in 1975 to 2002. Despite extensive oil and gas resources, diamonds, hydroelectric potential, and rich land, Angola remains poor. Since 2002, when the 27-year civil war ended, the nation has worked to repair and improve ravaged infrastructure, the Portuguese explorer Diogo Cão reached the Angolan coast in 1484, after which Portugal began to found trading posts and forts along the shore. Paulo Dias de Novais founded Sāo Paulo de Loanda in 1575, são Felipe de Benguella followed in 1587. The principal early trade was in slaves, Portuguese merchants purchased the slaves from the local Imbangala and Mbundu peoples, notable slave hunters, and sold them to the sugarcane plantations in Brazil. Brazilian ships were frequent visitors to Luanda and Benguela and Angola functioned as a kind of colony of Brazil, with Brazilian Jesuits active in its religious, the Portuguese Empire was neglected during the period of the Iberian Union, which lasted from 1580 to 1640. The Dutch, bitter enemies of their masters in Spain. During Portugals separatist war against Spain, the Dutch occupied Luanda from 1640 to 1648, the Dutch used the territory to supply their own slaves to the sugarcane plantations of Northeastern Brazil, which they had also seized from Portugal. John Maurice, Prince of Nassau-Siegen, conquered the Portuguese possessions of Saint George del Mina, Saint Thomas, Portugal recovered the territory between 1648 and 1650. In the high plains, the Planalto, the most important native states were Bié and Bailundo, Portugal expanded into their territory, but did not control much of the interior prior to the late 19th century. The Portuguese started to develop townships, trading posts, logging camps, from 1764 onwards, there was a gradual change from a slave-based society to one based on production for domestic consumption and export. Following the independence of Brazil in 1822, the trade was formally abolished in 1836. However it did continue locally into the 20th century, in 1844, Angolas ports were opened to foreign shipping. The principal exports of the economy in the 19th century were rubber, beeswax. Maize, tobacco, dried meat and cassava flour also began to be locally produced, grains, sugar, and rum were also produced for local consumption. The principal imports were foodstuffs, cotton goods, hardware, legislation against foreign traders was implemented in the 1890s. The territorys prosperity, however, continued to depend on plantations worked by labor indentured from the interior, from the 1920s to the 1960s, strong economic growth, abundant natural resources and development of infrastructure, led to the arrival of even more Portuguese settlersEconomy of Angola – Luanda is the financial center of Angola
18. Economy of Argentina – The economy of Argentina is a high-income economy, Latin Americas third largest, and the second largest in South America behind Brazil. The country benefits from natural resources, a highly literate population, an export-oriented agricultural sector. Early in the twentieth century Argentina had one of the highest per capita GDP levels in the world, today a high-income economy, Argentina maintains a relatively high quality of life and GDP per capita. Argentina is considered a market by the FTSE Global Equity Index. During its most vigorous period, from 1880 to 1905, this resulted in a 7. 5-fold growth in GDP. One important measure of development, GDP per capita, rose from 35% of the United States average to about 80% during that period, growth then slowed considerably, such that by 1941 Argentinas real per capita GDP was roughly half that of the U. S. Even so, from 1890 to 1950 the countrys per capita income was similar to that of Western Europe, the Great Depression caused Argentine GDP to fall by a fourth between 1929 and 1932. Having recovered its lost ground by the late 1930s partly through import substitution, the populist administration of Juan Perón nationalized the Central Bank, railways, and other strategic industries and services from 1945 to 1955. The subsequent enactment of developmentalism after 1958, though partial, was followed by a promising fifteen years. Inflation first became a problem during this period, but though it did not become fully developed. The economy, however, declined during the dictatorship from 1976 to 1983. Over 400,000 companies of all went bankrupt by 1982. Attempting to remedy this situation, economist Domingo Cavallo pegged the peso to the U. S. dollar in 1991 and his team then embarked on a path of trade liberalization, deregulation, and privatization. Inflation dropped to single digits and GDP grew by one third in four years, Argentinas socio-economic situation has since been steadily improving. Expansionary policies and commodity exports triggered a rebound in GDP from 2003 onward and this trend has been largely maintained, creating over five million jobs and encouraging domestic consumption and fixed investment. Social programs were strengthened, and a number of important firms privatized during the 1990s were renationalized beginning in 2003 and these include the postal service, AySA, Pension funds, Aerolíneas Argentinas, the energy firm YPF, and the railways. The economy nearly doubled from 2002 to 2011, growing an average of 7. 1% annually, real wages rose by around 72% from their low point in 2003 to 2013. The global recession did affect the economy in 2009, with growth slowing to nearly zero, but high economic growth then resumed, and GDP expanded by around 9% in both 2010 and 2011Economy of Argentina – National Bank of Argentina
19. Economy of Armenia – The economy of Armenia is ranked 132nd in the world, with a nominal gross domestic product of $10.561 billion per annum. It is also the 129th largest in the world by purchasing power parity, Armenia is the second-most densely populated of the post-Soviet states because of its small size. It is situated between the Black Sea and the Caspian Sea, bordered on the north and east by Georgia and Azerbaijan and on the south and west by Iran and Turkey. Agriculture accounted for only 20% of net material product and 10% of employment before the breakup of the Soviet Union in 1991, Armenian mines produce copper, zinc, gold and lead. The vast majority of energy is produced with imported fuel, including gas, small amounts of coal, gas and petroleum have not yet been developed. Like other former states, Armenias economy suffers from the legacy of a planned economy. Soviet investment in and support of Armenian industry has virtually disappeared, in addition, the effects of the 1988 earthquake, which killed more than 25,000 people and made 500,000 homeless, are still being felt. Although a cease-fire has held since 1994, the conflict with Azerbaijan over Nagorno-Karabakh has not been resolved, the consequent blockade along both the Azerbaijani and Turkish borders has devastated the economy, because of Armenias dependence on outside supplies of energy and most raw materials. Land routes through Azerbaijan and Turkey are closed, routes through Georgia and Iran are adequate, in 1992-93, the GDP had fallen nearly 60% from its 1989 level. The national currency, the dram, suffered hyperinflation for the first few years after its introduction in 1993, Armenia has registered strong economic growth since 1995 and inflation has been negligible for the past several years. New sectors, such as precious stone processing and jewelry making and this steady economic progress has earned Armenia increasing support from international institutions. The International Monetary Fund, World Bank, EBRD, as well as other financial institutions and foreign countries are extending considerable grants. Total loans extended to Armenia since 1993 exceed $800 million, a liberal foreign investment law was approved in June 1994, and a law on privatization was adopted in 1997, as well as a program on state property privatization. The government has made strides toward joining the World Trade Organization. By 1994, however, the Armenian government had launched an ambitious IMF-sponsored economic liberalization program that resulted in growth rates in 1995-2005. Armenia joined the World Trade Organization in January 2003, Armenia also has managed to slash inflation, stabilize its currency, and privatize most small- and medium-sized enterprises. Armenias unemployment rate, however, remains high, despite strong economic growth, the chronic energy shortages Armenia suffered in the early and mid-1990s have been offset by the energy supplied by one of its nuclear power plants at Metsamor. Armenia is now a net energy exporter, although it not have sufficient generating capacity to replace MetsamorEconomy of Armenia – Yerevan
20. Economy of Australia – The economy of Australia is one of the largest mixed market economies in the world, with a GDP of AUD$1.62 trillion as of 2015. Australias total wealth is AUD$6.4 trillion in 2013, in 2012, it was the 12th largest national economy by nominal GDP and the 17th-largest measured by PPP-adjusted GDP, about 1. 7% of the world economy. Australia is the 19th-largest importer and 19th-largest exporter, the Reserve Bank of Australia publishes quarterly forecasts of the economy. The Australian economy is dominated by its service sector, comprising 68% of GDP, the mining sector represents 7% of GDP, including services to mining, the total value of the mining industry in 2009-10 was 8. 4% of GDP. Economic growth is dependent on the mining sector and agricultural sector with the products to be exported mainly to the East Asian market. Despite the recent decline of the boom in the country. The Australian Securities Exchange in Sydney is the largest stock exchange in Australia and in the South Pacific, the Australian dollar is the currency of the Commonwealth of Australia and its territories, including Christmas Island, Cocos Islands, and Norfolk Island. It is also the currency of the independent Pacific Island nations of Kiribati, Nauru. Australia is a member of the APEC, G20, OECD, the country has also entered into free trade agreements with ASEAN, Canada, Chile, China, Korea, Malaysia, New Zealand, Japan, Singapore, Thailand and the United States. The ANZCERTA agreement with New Zealand has greatly increased integration with the economy of New Zealand, Australias average GDP growth rate for the period 1901–2000 was 3. 4% annually. As opposed to many Southeast Asian countries, the process towards independency was relatively peaceful and thus did not have significant negative impact on the economy, growth peaked during the 1920s, followed by the 1950s and the 1980s. By contrast, the late 1910s/early 1920s, the 1930s, the 1970s, from the early 1980s onwards, the Australian economy has undergone a continuing economic liberalisation. In 1983, under Prime Minister Bob Hawke, but mainly driven by Treasurer Paul Keating, the early 1990s recession came swiftly after the Black Monday of October 1987, resulting from a stock collapse of unprecedented size caused the Dow Jones Industrial Average to fall by 22. 6%. This collapse, larger than the market crash of 1929, was handled effectively by the global economy. However, in North America, the savings and loans industry was facing decline which eventually led to a savings. The following recession thus impacted the many countries closely linked to the United States, Paul Keating, who was Prime Minister at the time, famously referred to it as the recession that Australia had to have. During the recession, GDP fell by 1. 7%, employment by 3. 4%, despite this, there was a beneficial reduction in inflation. The establishment of a mining industry continued the high level of growth in the post-war periodEconomy of Australia – Sydney's central business district, a major financial and business services hub.
21. Economy of Bahrain – The Bahraini currency is the second-highest-valued currency unit in the world. Since the late 20th century, Bahrain has heavily invested in the banking, the countrys capital, Manama is home to many large financial structures. Bahrains finance industry is very successful, in 2008, Bahrain was named the worlds fastest growing financial center by the City of Londons Global Financial Centres Index. Bahrains banking and financial sector, particularly Islamic banking, have benefited from the regional boom driven by demand for oil. Petroleum production is Bahrains most exported product, accounting for 60% of export receipts, 70% of government revenues, aluminium production is the second most exported product, followed by finance and construction materials. According to the 2011 Index of Economic Freedom, Bahrain has the freest economy in the Middle East, an alternative index, published by the Fraser Institute, puts Bahrain in 44th place tied with 7 other countries. Bahrain was recognised by the World Bank as an income economy. This is a chart of trend of gross product of Bahrain at market prices estimated by the International Monetary Fund with figures in millions of Bahraini Dinars. For purchasing power parity comparisons, the US Dollar is exchanged at 0.30 Bahraini Dinars only, mean wages were $19.81 per man-hour in 2009. In 2003 and 2004, the balance of performance improved due to rising oil prices. As a result, the current account balance registered a surplus of US$219 million in 2003, Bahrains gross international reserves increased substantially in 2004 to US$1.6 billion, compared with US$1.4 billion in the previous three years. Though Current GDP per capita shrank by 2. 4% in the 1980s, Bahrains urgency in embracing economic liberalisation is due to its need to diversify the economy away from its limited oil supplies. Unlike its Persian Gulf neighbours, Bahrain has little oil wealth, the Kingdom is the main banking hub for the Persian Gulf and a centre for Islamic finance, which has been attracted by the strong regulatory framework for the industry. The main risk stems from potential overheating in the economies of the region, prudential regulations are modern and comprehensive, and supervision is generally effective, especially in the dominant banking sector. Supervisory capacity needs to be expanded in line with new regulations and to keep up with the growth, the further expansion of the Islamic sector, the development of housing finance, and the deepening of securities markets are important for the future growth of the financial system. The banking and insurance sectors will eventually undergo consolidation, in 2005, Bahrain signed the US-Bahrain Free Trade Agreement, becoming the first Persian Gulf state to sign such a bilateral trade agreement with the United States. As a result, the economy has been positioned to exploit the extra revenues generated in the region thanks to the sustained high oil prices since 2002. In January 2006, the United Nations Economic and Social Commission for Western Asia cited Bahrain as the fastest growing economy in the Arab world, between 1981 and 1993, Bahrain Government expenditures increased by 64%Economy of Bahrain – Bahrain skyline
22. Economy of Bangladesh – According to the IMF, Bangladeshs economy is the second fastest growing major economy of 2016, with a rate of 7. 1%. In the decade since 2004, Bangladesh averaged a GDP growth of 6. 5%, that has been driven by its exports of ready made garments, remittances. The country has pursued export-oriented industrialisation, with its key sectors include textiles, shipbuilding, fish and seafood, jute. It has also developed self-sufficient industries in pharmaceuticals, steel and food processing, Bangladeshs telecommunication industry has witnessed rapid growth over the years, receiving high investment from foreign companies. Bangladesh also has reserves of natural gas and is Asias seventh largest gas producer. Offshore exploration activities are increasing in its territory in the Bay of Bengal. It also has deposits of limestone. The government promotes the Digital Bangladesh scheme as part of its efforts to develop the growing information technology sector. Bangladesh is strategically important for the economies of Northeast India, Nepal and Bhutan, as Bangladeshi seaports provide maritime access for these landlocked regions, China also views Bangladesh as a potential gateway for its landlocked southwest, including Tibet, Sichuan and Yunnan. In 2016, per-capita income was estimated as per IMF data at US$3,840, the economy faces challenges of infrastructure bottlenecks, insufficient power and gas supplies, bureaucratic corruption, political instability, natural calamities and a lack of skilled workers. East Bengal - the eastern segment of Bengal - was a prosperous region. The Ganges Delta provided advantages of a mild, almost tropical climate, fertile soil, ample water, and an abundance of fish, wildlife, the standard of living is believed to have been higher compared with other parts of South Asia. As early as the century, the region was developing as an agrarian economy. Bengal was the junction of routes on the Southeastern Silk Road. Under Mughal rule, it was a center of the muslin, silk. The development of East Bengal was thereafter limited to agriculture, after its independence from Pakistan, Bangladesh followed a socialist economy by nationalising all industries, proving to be a critical blunder undertaken by the Awami League government. Some of the factors that had made East Bengal a prosperous region became disadvantages during the nineteenth and twentieth centuries. As life expectancy increased, the limitations of land and the annual floods increasingly became constraints on economic growth, traditional agricultural methods became obstacles to the modernisation of agricultureEconomy of Bangladesh – Economy of Bangladesh