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Functions Of The World Trade Organization
Transcript of Functions Of The World Trade Organization
Spells out the principles of liberalization, and the permitted exceptions.
Includes individual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets.
Sets procedures for settling disputes. WHAT IS THE WTO ? The WTO: It was established on January 1, 1995,
under the Marrakech Agreement. is an organization set up by the UN to supervise and liberalize international trade. It replaced GATT(General Agreements
On Tariffs And Trade) as the world's main inter-
national trade monitoring organization. As of
2010 it has 153 member states. Hmmm.....so what are some
functions of the World Trade
Organization?? agreements are not static; they are renegotiated from time to time and new agreements can be added to the package. Many are now being negotiated under the Doha Development Agenda, launched by WTO trade ministers in Doha, Qatar, in November 2001. Agreements require governments to make their trade policies transparent by notifying the WTO about laws in force and measures adopted. Implementation and
Monitoring Various WTO councils and committees seek to ensure that these requirements are being followed and that WTO agreements are being properly implemented. All WTO members must undergo periodic scrutiny of their trade policies and practices, each review containing reports by the country concerned and the WTO Secretariat. Dispute
Settlement The WTO’s procedure for resolving trade quarrels under the Dispute Settlement Understanding is vital for enforcing the rules and therefore for ensuring that trade flows smoothly. Countries bring disputes to the WTO if they think their rights under the agreements are being infringed. Judgements by specially appointed independent experts are based on interpretations of the agreements and individual countries’ commitments. Building Trade Capacity WTO agreements contain special provision for developing countries, including:
longer time periods to implement agreements and commitments,
measures to increase their trading opportunities,
support to help them build their trade capacity, to handle disputes and to implement technical standards. The WTO organizes hundreds of technical cooperation missions to developing countries annually. It also holds numerous courses each year in Geneva for government officials. Aid for Trade aims to help developing countries develop the skills and infrastructure needed to expand their trade. Outreach The WTO maintains regular dialogue with non-governmental organizations, parliamentarians, other international organizations, the media and the general public on various aspects of the WTO and the ongoing Doha negotiations, with the aim of enhancing cooperation and increasing awareness of WTO activities. The World trade Organization carries out its functions daily....... ...so that goods can be carried quickly and easily on big ships like this one. Jason Sherman Christal Rose By: TO SUM UP It controls implementation of trade agreements concluded by the WTO
member states. It organizes and maintains negotiations
between WTO member states. It oversees the trade policies of the WTO member states and settles trade disputes between members.