World Trade Organization in the context of "Telephone company"

⭐ In the context of telecommunications companies, the World Trade Organization (WTO) is most directly associated with…

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⭐ Core Definition: World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. Established on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, it succeeded the General Agreement on Tariffs and Trade (GATT), which was created in 1948. As the world's largest international economic organization, the WTO has 166 members, representing over 98% of global trade and global GDP. It is headquartered in Geneva, Switzerland.

The WTO's primary functions are to provide a framework for negotiating trade agreements and to resolve trade disputes among its members. Its agreements, which are negotiated and signed by the majority of the world's trading nations and ratified in their parliaments, cover trade in goods, services, and intellectual property. The organization operates on the principle of non-discrimination—enshrined in the most-favoured-nation and national treatment provisions—but allows for exceptions for environmental protection, national security, and other objectives.

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👉 World Trade Organization in the context of Telephone company

A telecommunications company is a kind of electronic communications service provider, more precisely a telecommunications service provider (TSP), that provides telecommunications services such as telephony and data communications access. Many traditional solely telephone companies now function as internet service providers (ISPs), and the distinction between a telephone company and ISP has tended to disappear completely over time, as the current trend for supplier convergence in the industry develops. Additionally, with advances in technology development, other traditional separate industries such as cable television, Voice-over IP (VoIP), and satellite providers offer similar competing features as the telephone companies to both residential and businesses leading to further evolution of corporate identity have taken shape.

Due to the nature of capital expenditure involved in the past, most telecommunications companies were government-owned agencies or privately owned monopolies operated in most countries under close state regulation. But today there are many private players in most regions of the world, and even most of the government-owned companies have been opened up to competition in-line with World Trade Organization (WTO) policy agenda. Historically, these government agencies were often referred to, primarily in Europe, as PTTs (postal, telegraph and telephone services). Telecommunications companies are common carriers, and in the United States are also known as local exchange carriers. With the advent of mobile telephony, telecommunications companies now include wireless carriers, or mobile network operators and even satellite providers (Iridium).

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World Trade Organization in the context of Constitution of the United Kingdom

The constitution of the United Kingdom comprises the written and unwritten arrangements that establish the United Kingdom of Great Britain and Northern Ireland as a political body. Unlike in most countries, no official attempt has been made to codify such arrangements into a single document, thus it is known as an uncodified constitution. This enables the constitution to be easily changed as no provisions are formally entrenched.

The Supreme Court of the United Kingdom and its predecessor, the Appellate Committee of the House of Lords, have recognised and affirmed constitutional principles such as parliamentary sovereignty, the rule of law, democracy, and upholding international law. It also recognises that some Acts of Parliament have special constitutional status. These include the Magna Carta, which in 1215 required the King to call a "common counsel" (now called Parliament) to represent the people, to hold courts in a fixed place, to guarantee fair trials, to guarantee free movement of people, to free the church from the state, and to guarantee rights of "common" people to use the land. After the Glorious Revolution, the Bill of Rights 1689 and the Claim of Right Act 1689 cemented Parliament's position as the supreme law-making body, and said that the "election of members of Parliament ought to be free". The Treaty of Union in 1706 and the Acts of Union 1707 united the Kingdoms of England, Wales and Scotland, the Acts of Union 1800 joined Ireland, but the Irish Free State separated after the Anglo-Irish Treaty in 1922, leaving Northern Ireland within the UK. After struggles for universal suffrage, the UK guaranteed every adult citizen over 21 years the equal right to vote in the Representation of the People (Equal Franchise) Act 1928. After World War II, the UK became a founding member of the Council of Europe to uphold human rights, and the United Nations to guarantee international peace and security. The UK was a member of the European Union, joining its predecessor in 1973, but left in 2020. The UK is also a founding member of the International Labour Organization and the World Trade Organization to participate in regulating the global economy.

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World Trade Organization in the context of Non-tariff barriers to trade

Non-tariff barriers to trade (NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through measures other than the imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve protectionist purposes. Sometimes, uniformly applied rules of trade may be more burdensome to some countries than others, e.g. for countries with developing economies.

The Southern African Development Community (SADC) defines a non-tariff barrier as "any obstacle to international trade that is not an import or export duty. They may take the form of import quotas, subsidies, customs delays, technical barriers, or other systems preventing or impeding trade". According to the World Trade Organization, non-tariff barriers to trade include import licensing, rules for valuation of goods at customs, pre-shipment inspections, rules of origin ('made in'), and trade prepared investment measures. A 2019 UNCTAD report concluded that trade costs associated with non-tariff measures were more than double those of traditional tariffs.

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World Trade Organization in the context of United Nations System

The United Nations System consists of the United Nations' six principal bodies (the General Assembly, Security Council, Economic and Social Council (ECOSOC), Trusteeship Council, International Court of Justice (ICJ), and the United Nations Secretariat), the specialized agencies and related organizations. The UN System includes subsidiary bodies such as the separately administered funds and programmes, research and training institutes, and other subsidiary entities. Some of these organizations predate the founding of the United Nations in 1945 and were inherited after the dissolution of the League of Nations.

The executive heads of some of the United Nations System organizations, and the World Trade Organization, which is not formally part of the United Nations System, have seats on the United Nations System Chief Executives' Board for Coordination (CEB). This body, chaired by the secretary-general of the United Nations, meets twice a year to co-ordinate the work of the organizations of the United Nations System.

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World Trade Organization in the context of Economy of Russia

The economy of Russia is a high-income, industrialized, mixed and market-oriented emerging economy. It has the ninth-largest economy in the world by nominal GDP and the fourth-largest economy by GDP (PPP). Due to a volatile currency exchange rate, its GDP measured in nominal terms fluctuates sharply. Russia was the last major economy to join the World Trade Organization (WTO), becoming a member in 2012.

Russia has large amounts of energy resources throughout its vast landmass, particularly natural gas and petroleum, which play a crucial role in its energy self-sufficiency and exports. The country has been widely described as an energy superpower; with it having the largest natural gas reserves in the world, the second-largest coal reserves, the eighth-largest oil reserves, and the largest oil shale reserves in Europe. Russia is the third-largest exporter of natural gas, the second-largest natural gas producer, the second-largest oil exporter and producer, and the third-largest coal exporter. As of 2020, its foreign exchange reserves were the fifth-largest in the world. Russia has a labour force of about 73 million people, which is the eighth-largest in the world. It is the third-largest exporter of arms in the world. The large oil and gas sector accounted up to 30% of Russia's federal budget revenues in 2024, down from 50% in the mid-2010s, suggesting economic diversification.

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World Trade Organization in the context of Member state

A member state is a state that is a member of an international organization or of a federation or confederation.

Since the World Trade Organization (WTO) and the International Monetary Fund (IMF) include some members that are not sovereign states, neither organization ever speaks of "member states". The WTO has simply "members" (see WTO members), and the IMF refers to its members as "member countries".

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World Trade Organization in the context of Barriers to trade

Trade barriers are government-induced restrictions on international trade. Most trade barriers work on the same principle: the imposition of some sort of cost (money, time, bureaucracy, quota) on trade that alters the price or availability of the traded products. Barriers take the form of tariffs (which impose a financial burden on imports) and non-tariff barriers to trade (which uses other overt and covert means to restrict imports and occasionally exports). Trade barriers have been criticized for their negative impacts on consumers and their unequal applications to developing countries.

The use of trade barriers has shifted throughout history. Protectionist policies were commonplace in the mercantilist era, but a combination of industrialization and liberalization led to a shift towards free trade in the mid-to-late 19th century. The interwar period led to a regression back to protectionism, but post-WWII there was a near-universal commitment to multilateralism and the creation of international organizations that led to lower tariffs and decreased protectionism. While organizations like the World Trade Organization still provide an avenue for trade negotiations, in recent times there has been a shift away from trade openness and towards plurilateral agreements and regionalism.

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World Trade Organization in the context of Preferential trading area

A preferential trade area (also preferential trade agreement, PTA) is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely. It is the first stage of economic integration.

These tariff preferences have created numerous departures from the normal trade relations principle, namely that World Trade Organization (WTO) members should apply the same tariff to imports from other WTO members.

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