WTO (World Trade Organisation)
- Established as General Agreement on Tariffs and trade (GATT) in 1947
- Uruguay Round negotiations (1986 – 94) resulted in establishment of WTO
- India is a founding member of both GATT and WTO.
- WTO rules envisage non-discrimination in the form of National Treatment and most Favoured Nation (MFN) treatment to India’s exports in the markets of treatment to India’s exports and in the markets of other WTO Members.
- Disputes are filed under the Dispute settlement Mechanism (DSN) of WTO.
- Russia, Samoa, Montenegro and Vanuatu joined WTO recently.
- Highest decision-making body of WTO is Ministerial conference which held in every 2 years.
- 9th Ministerial conference was held in Bali.
- 10th Ministerial Conference was held in Nairobi, Kenya, from 15 to 19 December 2015
- Afghanistan became 164th member nation of the World Trade Organisation
- 164 members
Asian Development Bank (ADB)
- was established in 1966
- headquarters in Manila, the Philippines
- India is a founding member of ADB.
- This bank is engaged in promoting economic and social progress of developing countries in Asia Pacific region.
- India holds the position of Executive Director on the Board of Directors of the Bank – its constituency comprises India, Bangladesh, Bhutan, Lao PDR and Tajikistan.
- Takeshi Watanabe was ADB’s first President.
- current president-Takehiko Nakao
- Total members=67
South Asian Association for Regional Cooperation – SAARC
- Established – 1985
- Member – 8 (India, Pakistan, Nepal, Bhutan, Srilanka, Maldeev, Afganistan & Bangladesh)
- Head Office – Kathmandu
Association of South – East Asian Nation – ASEAN
- Established – 1968, by Bankok announcement
- Member – 10 (South East Asian countries)
- Secretariat – Jakarta
- India is not a member
Asian Pacific Economic Cooperation – APEC
- Member – 21
- Secretariat – Singapore
United Nation’s Conference on Trade & Development – UNCTAD
- Established – 1964
- Head office – Geneva
- Aim – Encouragement of International Trade – To make policy regarding economy and development.
Organisation of the Petroleum Exporting Countries – OPEC
- OPEC was founded in 1960.
- Currently, the organisation has a total of 13 members
- Headquarter – Vienna (Austria)
- Established – 1975
- Member – 8 (USA, Canada, Germany, Britain, France, Italy, Japan, Russia)
- The purpose of the G8 Summit is for the Leaders of the world’s major industrial nations to meet in an informal setting and discuss the major issues facing the world
Food and Agriculture Organisation – FAO
- Established – 16 October 1945
- Membership – 175 countries
- Headquarters – Rome (Italy)
Shanghai Co-operation Organisation – SCO
- Established – 1995
- Membership – 6 countries
- First summit – 16 June 2009
- Members – 5 (Brazil, Russia, India, China, South Africa)
- Established – 2003
- Members – 3 (India, Brazil, South Africa)
European Union – EU
- The result was the European Economic Community (EEC), created in 1958, and initially increasing economic cooperation between six countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands
- Membership – 28
- It is the largest commercial community of the world.
- Headquarters – Brussels
- Common currency (Euro) – 1 January 2002
- The UK, Denmark and Sweden have not accepted.