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EUROPEAN REVIEW

ISSUE 26 - Page 11

We have another stab at explaining things European in

Plain English

  • 1. social partnership
  • 13. Court of Auditors
  • 2. Objectives
  • 14. S.M.E.s
  • 3. Ombudsman
  • 15. Leonardo and Socrates
  • 4. Single Currency
  • 16. Economic and Social Committee
  • 5. Commission
  • 17. European Central Bank
  • 6. Agenda 2000
  • 18. EFTA/EEA
  • 7. Council of Ministers
  • 19. European Coal and Steel Community
  • 8. EUROSTAT
  • 20. CEDEFOP
  • 9. European Parliament
  • 21. Maastricht
  • 10. Euro-words
  • 22. Amsterdam treaty
  • 11. OSCE
  • 23. Western European Union
  • 12. European Bank for Reconstruction and Development
  • 24. Inter-Governmental Conference (IGC)

25. GATT/WTO

What do the letters stand for?

The General Agreement on Tariffs and Trade and the World Trade Organisation.

What is the difference between them?

Since 1947 various countries throughout the world have agreed treaties to regulate international trade and reduce tariffs. This was formalised as a general agreement known as GATT. In 1995 it was restructured as the World Trade Organisation.

Who belongs to it?

There are 134 members from the industrialised, developing and former communist nations. Together they cover 80% of world trade. The EU plays a major rôle as a large trade bloc.

What are its aims ?

The idea is to expand world trade by decreasing barriers between different economies and getting all members to play by the same rules.

Anything else?

Since 1994 it has tried to protect 'intellectual property' by strengthening copyright and patent laws to stop ideas being pirated. Its agreement on Public Procurement tries to extend the 'level playing field' to government purchase.

How about its critics?

The main criticism of WTO activities is the harmful effect they are said to have on developing countries.

How does that work?

Either because free trade benefits the strongest i.e developed economies or because the agreements are selective and do not touch subsidies on EU agriculture which keep out Third World produce from European markets.

What is likely to happen in the future ?

With many disagreements between both poor and rich nations and between the EU and the US, the last round of talks ended in failure so the future is uncertain.

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