The World Trade Organization (WTO) deals with global trade rules between nations. It has 153 member countries and helps negotiate trade agreements and settle disputes. The WTO aims to improve living standards, ensure employment, increase production and trade, and promote sustainable development. It oversees global trade through committees and councils covering goods, services, and intellectual property, seeking to improve members' economic conditions through open trade.
4. FACTS ABOUT WTO
Location : Geneva
Established : 1 Jan 1995
Created : Uruguay Round Negotiations (1986-94)
Membership : 153 Countries
Total Staff 2007 : 637
Head : Director General, Pascal Lamy.
Official Languages : English, French, Spanish
5. objectives of WTO
1. To improve the standard of living of people in the member countries.
2. To ensure full employment and broad increase in effective demands.
3. To enlarge production and trade of Goods.
The above three objectives were included in the GATT in addition to these
WTO introduced some objectives-
4. To enlarge production and trade of services.
5. To ensure optimum utilization of world resources
6. To accept the concept of sustainable development
7. To protect environment with industrialization.
6. FUNCTIONS OF WTO
• Ensure trade flows smoothly by negotiating trade
agreements and settling disputes;
• Assist developing countries with their trade policy issues;
• Provide developing countries with trade-related training
programs.
7. Ministerial Conference
The General Council
Dispute settlement body
The WTO Structure
Director General
Trade Policy Review
body
Committees I,II,IIISecretariat of WTOCouncil I,II,III
Council I:- trade in goods
Council II:- trade in services
Council III :-Trade in
Intellectual property right
1. Related with trade
and development
2. Is related with BOP
3. Related with budget
finance and administration
8. Agreements of WTO
Agreement relating to Agriculture
Agreement relating to Health & Safety Measures.
Agreement relating to Helping Least Developed and Food
Importing Countries.
Agreement relating to Textiles and Clothing.
Agreement relating to Trips (Trade Related Aspects of
Intellectual Property Rights).
Agreement relating to Gats (General Agreement on Trade in
Services).
9. Conclusion
The goal of WTO is to improve the ECONOMIC
CONDITION of the member countries.
Cooperate with the IMF and World Bank and
other multilateral institutions to achieve greater
coherence in global economic policy making.
Transparency- It keeps the public and nations
informed about the achievements
10. Conclusion
The goal of WTO is to improve the ECONOMIC
CONDITION of the member countries.
Cooperate with the IMF and World Bank and
other multilateral institutions to achieve greater
coherence in global economic policy making.
Transparency- It keeps the public and nations
informed about the achievements
Editor's Notes
Presented By:
Vinay Tyagi
PGDM (IInd TRIM.)
Section – B
Roll No. – M0786
The world trade organization (WTO) was established on 1st January 1995. Government had concluded the Uruguay Round negotiations on 15th December 1993 and ministers had given their political backing to the results by signing the final act at a meeting in Marrakesh, Morocco in April 1994. The ‘Marrakesh Declaration’ of 15th April 1994, affirmed that the results of the Urguay Round would “strengthen the world economy and lead to more trade, investment, employment, and income growth throughout the world.” The WTO is the embodiment of the Uruguay Round results and the successor to the General Agreement on Tariffs and Trade (GATT).