Summary
The World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level.
In its current form it was established by an agreement done at Marrakesh, on April 15, 1994
(http://www.wto.org/english/docs_e/legal_e/04-wto.pdf )
Related Bodies and Agencies
Monitoring & Evaluation
- Monitoring and reviewing the trade policies of our members, as well as ensuring transparency of regional and bilateral trade agreements
- Conducting economic research and collecting and disseminating trade data in support of the WTO's other main activities
Aim & Objectives
Preserve the basic principles and further the objectives underlying the multilateral trading system.
Scope of the WTO (Art. II)
The WTO shall provide the common institutional framework for the conduct of trade relations among its Members in matters related to the agreements and associated legal instruments included in the Annexes to April 1994 Marrakesh Agreement. (Art. II.1 ) (these include Multilateral and Plurilateral Trade Agreements, GATT 1994, GATT 1947)
Functions of the WTO (Art. III)
- facilitate the implementation, administration and operation, and further the objectives, of this Agreement and of the Multilateral Trade Agreements,
- provide the framework for the implementation, administration and operation of the Plurilateral Trade Agreements.
- provide the forum for negotiations among its Members concerning their multilateral trade relations in matters dealt with under the agreements in the Annexes to this Agreement.
- provide a forum for further negotiations among its Members concerning their multilateral trade relations, and a framework for the implementation of the results of such negotiations, as may be decided by the Ministerial Conference.
- administer the Understanding on Rules and Procedures Governing the Settlement of Disputes (the "Dispute Settlement Understanding" or "DSU", Annex 2)
- administer the Trade Policy Review Mechanism (the "TPRM", Annex 3)
- With a view to achieving greater coherence in global economic policy-making, the WTO shall cooperate, as appropriate, with the International Monetary Fund and with the International Bank for Reconstruction and Development and its affiliated agencies.
Core Values
Open trade for the benefit of all.
Reduced obstacles to international trade, market opening accompanied by sound domestic and international policies that contribute to economic growth and development according to each member's needs and aspirations.
Ensuring a level playing field for all.
Economic growth and development.
Transparency in the conduct of its activities.
Source: [Bibliography item 1 not found.].
Activities
Resources
Operations
- Administering and monitoring the application of the WTO's agreed rules for trade in goods, trade in services, and trade-related intellectual property rights
- Settling disputes among our members regarding the interpretation and application of the agreements
- Assisting the process of accession of some 30 countries who are not yet members of the organization
- Explaining to and educating the public about the WTO, its mission and its activities.
