3. WTO STANDS FOR:-
It stands for WORLD TRADE ORGANIZATION. It is the only global international organizations of trade
dealing with the rules of trade between nations. At it hearts are the WTO agreements, negotiated
and signed by the bulk of the world’s trading nation and ratified in their parliaments.
The goal is to ensure that the trade flows as smoothly, predictably and freely as possible.
4. Information about WTO:-
Location :-
Geneva, Switzerland
Establish:-
1st January,1945
Created by:-
Uruguay Round Negotiations (1986-94)
Membership:-
164 countries on 29th July 2016
Head:-
Roberto Azevedo
5. What They Do:-
All the major decisions are made by the WTO’s member governments either by ministers (who usually
meet at least every 2 years) or by their ambassadors or delegates (who meet regularly in Geneva)
6. Functions :-
Administering WTO trade agreements.
Handling trade disputes.
Monitring national trade policies.
Cooperation with other international organization.
Forums for trade negotiations.
Technical assistance and training for developing countries.
7. WTO AND PAKISTAN
Pakistan joined WTO on 1 January 1995 when it came in to being.
Pakistan is required to provide the most favorite nation MFN status to all trading
partners.
Pakistan has been actively engaged in the Doha round of trade talks that were launch in
the Qatari capital in November 2001.
Impact of WTO policies on Pakistan:-
As a member it has abide by the WTO’s objective of putting an end to the import duties
which have been reduced from maximum over
80 per cent nine years ago to 30 per cent at present.
