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GATT AND WTO

The World Trade Organization:

The World Trade Organization (WTO) was founded in 1995, and is comprised of 146 member countries and 30 observer countries. The WTO has three primary goals: to promote trade flows by encouraging nations to adopt non-discriminatory and predictable trade policies, to reduce remaining trade barriers through multilateral negotiations, and to establish impartial procedures for resolving trade disputes among members.

Problem Sectors:

One challenge facing the WTO is dealing with sectors of the economy such as agriculture and textiles that most nations protect. Groups including the Cairns Group (a group of major agricultural exporters) have pressured the WTO to ensure that the Uruguay Round policies dealing with agricultural trade are implemented according to schedule. Similarly, developing countries are monitoring the dismantling of the Multifibre Agreement (MFA), which created a complex array of quotas and tariffs on trade in textiles and apparel.

Read more: MGT520 - International Business - Lecture Handout 30

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QUALITY CONTROL – I

Breadth of Scope

• Raw Materials and Piece Parts Inspection.
• Vender Relation.
• Process Control.
• Motivation of Employees.
• Reliability

What is Quality?

Quality is Conformance to Given Requirement or Specifications on a Product or Service.
The term quality by itself does not necessarily mean high quality. It means uniformity, consistency and conformity to what user wants.

Two Aspects of Quality.

• Design Quality.
• Manufactured Quality.

Design Quality

• Design Quality Covers (materials, form, appearance, functions )
• When Reference is made to “high cost of quality” such Reference is Almost Associated with Design Quality.

Manufactured Quality

Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. It is a large branch of industry and of secondary production. Some industries, like semiconductor and steel manufacturers use the term fabrication.

Read more: MGT601 - SME Management - Lecture Handout 30