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Search Results - World Trade Organization

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The World Trade Organization (WTO) is an international organization designed by its founders to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakesh Agreement, replacing the General Agreements on Tariffs and Trade (GATT), which commenced in 1947. The World Trade Organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalising trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.[4][5] Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986-1994). The organization is currently endeavouring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain."[6]

The WTO has 153 members,[7] representing more than 95% of total world trade[8] and 30 observers, most seeking membership. The WTO is governed by a ministerial conference, meeting every two years; a general council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the ministerial conference. The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation - notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund. A comparable international institution for trade, named the International Trade Organization was successfully negotiated. The ITO was to be a United Nations specialized agency and would address not only trade barriers but other issues indirectly related to trade, including employment, investment, restrictive business practices, and commodity agreements. But the ITO treaty was not approved by the United States and a few other signatories and never went into effect.[10][11][12]

In the absence of an international organization for trade, the GATT would over the years "transform itself" into a de facto international organization.[13]

Showing 1 to 2 of 2 Articles matching 'World Trade Organization' in related articles.
Pages: 1

1. Benefits of ISO 9001 certification, Quality Management System
November 19, 2009

Different standards which are developed for similar Technologies in different countries and different Technologies, are named as technical obstacle for trade and these standards are used against producers. Whether it a product, or quality, or talking in terms of environment and world climate, or health and safety procedures, the aim of ISO is to prepare recognized ISO management standards which can be followed internationally and help to remove these obstacles in front of trade, climate and safety.The International Organization for Standardisation, is a network of institutions, that seek to e... (read more)

Author: jim damon

2. Promoting the Business Services through International Trade Centers
November 19, 2009

With the combined effort of the World Trade Organization and the United Nations, a member organization has been established with the objective to improve, facilitate and expand international trade. This member organization has been named as International Trade Center. As Globalization is taking place at a fast pace, International Trade comes to aid for developing and particularly least-developed countries. International Trade Center has global trade centers tailored for exporters, importers and manufacturers for the promotion of products and services worldwide. International Trade Center (IT... (read more)

Author: Sal lingo

Pages: 1


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