The World Trade Organization (WTO) is an Intergovernmental Organization - Management Assignment Help

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Task:

Question 1 The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 124 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It is the largest international economic organization in the world. Mauritius is a member of the WTO since its foundation in 1995. Monitoring of national trade policies for all members is an important activity of the WTO. This exercise is carried out through the Trade Policy Review Mechanism (TPRM). The frequency of each country is reviewed varies according to its share of world trade. As a developing country, Mauritius is reviewed every 6 years. Critically evaluate the effectiveness of the WTO. (10 marks)

Question 2 Birningham Ltd, a UK company, buys goods from Richards which cost 100,000 Reds (the local currency). The goods are re-sold in the UK for £32,000. At the time of the import purchase the exchange rate for Reds against sterling is 3.5650 – 3.5800. Required (a) What is the expected profit on the re-sale? (b) What would the actual profit be if the spot rate at the time when the currency is received has moved to: (i) 3.0800 – 3.0950 (ii) 4.0650 – 4.0800? Ignore bank commission charges. (6 marks)

Question 3 Extract from:Financial Times;October 29 ,2012 The story: BMW Group, owner of the BMW, Mini and Rolls-Royce brands, has been based in Munich since its founding in 1916. But by 2011, only 17 per cent of the cars it sold were bought in Germany. 3 In recent years, China has become BMW’s fastest-growing market, accounting for 14 per cent of BMW’s global sales volume in 2011. India, Russia and eastern Europe have also become key markets. The challenge. Despite rising sales revenues, BMW was conscious that its profits were often severely eroded by changes in exchange rates. The company’s own calculations in its annual reports suggest that the negative effect of exchange rates totalled €2.4bn between 2005 and 2009. Explain the different types of foreign exchange risks faced by the BMW Group and the internal techniques that the group can use to manage/reduce such exposure. (14 marks)

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