International Marketing

1. International Marketing
Unit-1
By:
Dr. Parveen Vashisth
Assistant Professor
Department of Business Administration
CDLU, Sirsa

7. World Trade Organization
After World War- II, over 50 countries came together to create an International Trade
Organization as a specialized agency of UN. In 1947 more 23 country members also
increased as it named as GATT (General Agreement on Trade & Tariff).
In 1994 it’s named as WTO. The WTO has now more than 153 member countries. About
2/3 of the members of WTO are developing nations.
The basic functions of WTO are as:
• It facilitates the implementations, administration & operations of Trade agreement.
• It provides a forum for further negotiation among member countries on matters
covered by the agreement as well as on new issues falling within its mandate.
• It is responsible for the settlement of differences and disputes among its member
countries.
• It is responsible for carrying out periodic review of trade policies of member countries.
• It assists developing countries in trade policy issues through technical assistance &
training program.
• It encourages cooperation within international organizations.