MINISTERIAL CONFERENCE The top most decision making authority is ministerial conference It is composed of representatives from all WTO signatories and they meet at least once in every two years Ministerial Conference can make decision on any multilateral trade agreement
Multilateral trade agreementInvolves three or more countriesTo regulate trade between the nations withoutdiscriminationComplicate to negotiate as all member nations have tosignVery powerfulUsually intended to lower trade barriers betweenparticipating countries and so increase the degree ofeconomic integration between the participantsThe most effective way of liberalizing trade in aninterdependent global economy
Example:The Doha round of trade agreements is a multilateral tradeagreement between all 149 members of the World TradeOrganizationThe Round was officially launched at the WTO’s FourthMinisterial Conference in Doha, Qatar, in November 2001 The Doha Ministerial Declaration provided the mandate for thenegotiations, including on agriculture, services and anintellectual property.-covers about 20 areas of tradeRound is also known semi-officially as the Doha DevelopmentAgenda -fundamental objective is to improve the tradingprospects of developing countries. also approved a decisionon how to address the problems developing countries face inimplementing the current WTO agreements
CONTD….. Five other bodies are also established by the Ministerial Conference. The Committee on Trade and Development, the Committee on Trade and Environment, the Committee on Regional Trade Agreements, the Committee on Balance of Payments, and the Committee on Budget, Finance and Administration. They should also report to the General Council.
GENERAL COUNCILWTO’s highest-level decision-making body in GenevaIt is composed of senior representatives from all member nationsMembers meet regularly and are responsible for overseeing the day-to-day business and management of the WTO, and is located at the
Current chair person Mrs. Elin Ostebo JohansenGeneral council has the authority to act on behalf of theministerial conferenceThe members of general council also work as DisputeSettlement Body (DSB) and as the Trade Policy Review BodyNext comes the Goods Council, Services Council andIntellectual Property (TRIPS) Council, which report to theGeneral Council
DISPUTE SETTLEMENT BODY This is also composed of all the WTO members. The WTO dispute settlement process involves the Dispute Settlement panels, the Appellate Body, the WTO Secretariat, independent experts and several specialized institutions. Dispute settlement as per WTO is the central pillar of the multilateral trading system, and as a "unique contribution to the stability of the global economy“.
CONTD….. It oversees the implementation and effectiveness of the dispute resolution process for all WTO agreements, and the implementation of the decisions on WTO disputes. Disputes are heard and ruled on by dispute resolution panels chosen individually for each case, and the Appellate Body which was established in 1994. WTO members has agreed that, if their fellow- members are violating trade rules, they will use the multilateral system of settling disputes instead of taking action.
TRADE POLICY REVIEW BODYThe WTO General Council meets as the TradePolicy Review Body to undertake trade policyreviews of Members under the TRPM. The TPRBis thus open to all WTO MembersSurveillance of national trade policies is afundamentally important activity runningthroughout the work of the WTO. At the centre ofthis work is the Trade Policy Review Mechanism(TPRM). All WTO members are reviewed, thefrequency of each country’s review varyingaccording to its share of world trade
TRADE NEGOTIATION COMMITTEE(TNC) This is a part of General Council and was established in November 2001 as a result of Doha declaration. It also composes of all the members of WTO. TNC is the committee that deals with the current trade talks round. The chair of TNC is WTOs director-general. The special sessions of TNC are Services Council / TRIPS Council / Dispute Settlement Body / Agriculture Committee and Cotton Sub-Committee / Trade and Development Committee /Trade and Environment Committee
PASCAL LAMY, DIRECTOR GENERAL,WTOHE IS THE FIFTH DG OF WTO.APPOINTED FOR THE SECOND TIME1ST SEPTEMBER 2005 AND 1ST SEPTEMBER 2009 (FOURYEAR TERM)