WTO

Extracted Attributes

• Name

  World Trade Organization

• Type

  Intergovernmental organization

• Acronym

  WTO

• Members

  166 nations

• Established

  1995-01-01

• Predecessor

  General Agreement on Tariffs and Trade (GATT)

• Headquarters

  Geneva, Switzerland

• Annual Budget

  Approximately 200 million USD

• Employee Count

  501-1,000 employees

• Administered By

  Secretariat

• Primary Functions

  Provide a framework for negotiating trade agreements and resolving trade disputes

• Operating Principle

  Non-discrimination

• Scope of Agreements

  Goods, services, intellectual property

• Current Director-General

  Ngozi Okonjo-Iweala

• Global GDP Representation

  Over 98%

• Budget Contribution Method

  By members based on their share of international trade

• Global Trade Representation

  Over 98%

• Highest Decision-Making Body

  Ministerial Conference

• Day-to-Day Business Management

  General Council

Timeline

• The General Agreement on Tariffs and Trade (GATT) was created, intended to be replaced by the International Trade Organization (ITO). (Source: Britannica)

  1947

• The Uruguay Round of multilateral trade negotiations was completed, leading to the establishment of the WTO. (Source: Britannica)

  1986-1994

• The World Trade Organization (WTO) was established, succeeding the General Agreement on Tariffs and Trade (GATT). (Source: Summary, Wikipedia, Britannica)

  1995-01-01

• Ngozi Okonjo-Iweala assumed the position of Director-General of the WTO. (Source: Wikipedia)

  2021

• The WTO faces criticism regarding unequal benefit distribution, potential disadvantages for developing countries, and prioritizing commercial interests over environmental and labor concerns. (Source: Summary, Wikipedia)

  Ongoing

• The WTO experiences stalled negotiations (e.g., Doha Development Round) and paralysis of its Appellate Body, raising questions about its future efficacy. (Source: Summary, Wikipedia)

  Ongoing

• Discussions highlight how China's WTO status and trade strategies have created strategic vulnerabilities for the USA, prompting supply chain realignments. (Source: Summary, Related Documents)

  Recent

World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. Established on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, it succeeded the General Agreement on Tariffs and Trade (GATT), which was created in 1948. As the world's largest international economic organization, the WTO has 166 members, representing over 98% of global trade and global GDP. It is headquartered in Geneva, Switzerland. The WTO's primary functions are to provide a framework for negotiating trade agreements and to resolve trade disputes among its members. Its agreements, which are negotiated and signed by the majority of the world's trading nations and ratified in their parliaments, cover trade in goods, services, and intellectual property. The organization operates on the principle of non-discrimination—enshrined in the most-favoured-nation and national treatment provisions—but allows for exceptions for environmental protection, national security, and other objectives. The WTO's highest decision-making body is the Ministerial Conference, which convenes biennially and makes decisions by consensus. Day-to-day business is managed by the General Council, composed of representatives from all member states. The organization is administered by a Secretariat led by the Director-General; since 2021, this position has been held by Ngozi Okonjo-Iweala of Nigeria. The WTO's annual budget is approximately 200 million USD, contributed by members based on their share of international trade. Economic studies generally find that the WTO has boosted trade and reduced trade barriers. However, it has faced significant criticism. Critics argue that the benefits of WTO-facilitated free trade are not shared equally, that its agreements may disadvantage developing countries, and that commercial interests have been prioritised over environmental and labour concerns. The organization has also been central to major trade disputes and stalled negotiations, such as the Doha Development Round and the paralysis of its Appellate Body, which have raised questions about its future efficacy.

Web Search Results

• World Trade Organization - Wikipedia

  The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland,( that regulates and facilitates international trade.( Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System.( The WTO is the world's largest international economic organization, with 166 members representing over 98% of global trade and global GDP.( [...] The World Trade Organization (WTO) hosts an annual Public Forum, which serves as an inclusive platform for global dialogue on international trade. The forum brings together a wide range of stakeholders—including representatives from governments, academia, business, and non-governmental organizations (NGOs) and civil society organizations (CSOs)—to exchange perspectives on the multilateral trading system and its impact on development, equity, and sustainability( [...] Wikimedia Commons Wikinews Wikiquote Wikidata item Coordinates: Image 4: Show location on an interactive map46°13′27″N 06°08′58″E / 46.22417°N 6.14944°E / 46.22417; 6.14944 From Wikipedia, the free encyclopedia Intergovernmental trade organization "WTO" redirects here. For other uses, see WTO (disambiguation) "WTO (disambiguation)"). World Trade Organization _Organisation mondiale du commerce_(in French) _Organización Mundial del Comercio_(in Spanish) Image 5.svg) Image 6

• World Trade Organization | International Trade Rules & Regulations

  World Trade Organization (WTO), international organization established to supervise and liberalize world trade. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947 in the expectation that it would soon be replaced by a specialized agency of the United Nations (UN) to be called the International Trade Organization (ITO). Although the ITO never materialized, the GATT proved remarkably successful in liberalizing world trade over the next five [...] The WTO has six key objectives: (1) to set and enforce rules for international trade, (2) to provide a forum for negotiating and monitoring further trade liberalization, (3) to resolve trade disputes, (4) to increase the transparency of decision-making processes, (5) to cooperate with other major international economic institutions involved in global economic management, and (6) to help developing countries benefit fully from the global trading system. Although shared by the GATT, in practice [...] decades. By the late 1980s there were calls for a stronger multilateral organization to monitor trade and resolve trade disputes. Following the completion of the Uruguay Round (1986–94) of multilateral trade negotiations, the WTO began operations on January 1, 1995.

• World Trade Organization - LinkedIn

  ## Overview The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. At its heart are the WTO agreements, negotiated by its members. For updates on the latest news, meetings and events of the WTO, you can also follow us on: Twitter - @WTO Facebook - World Trade Organization Instagram - worldtradeorganization ### Website ### Crunchbase N/A ### LinkedIn [...] # World Trade Organization The WTO's goal is to ensure that trade flows as smoothly, predictably and freely as possible. International Trade and Development • Geneva, Geneva • 412,901 followers • 501-1,000 employees

• The WTO in brief

  Economic research is the only international organization dealing with the global rules of trade. Its main goal is to improve the welfare of people around the world by ensuring that trade flows as smoothly, predictably and freely as possible. [...] The WTO operates the global system of trade rules, helps developing economies build their trade capacity and seeks to create a more inclusive trading system. Global rules of trade provide assurance and stability. Consumers and producers know they can enjoy secure supplies and greater choice of the finished products, components, raw materials and services they use. Producers and exporters know foreign markets will remain open to them. [...] The WTO organizes hundreds of technical cooperation missions to developing economies annually. It also holds many trade policy courses each year in Geneva for government officials. Regional seminars are held regularly in all regions of the world, with a special emphasis on African countries. In 2023, over 12,000 participants benefited from technical assistance activities and e-learning courses aimed at improving understanding of WTO agreements and global trade rules.

• Understanding the WTO - principles of the trading system - WTO

  The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. More #### Sign up for email updates Email address #### Follow WTO Image 12 Image 13: flickr Quality:>help " opens in a new window") [...] back to top Promoting fair competition -------------------------- The WTO is sometimes described as a “free trade” institution, but that is not entirely accurate. The system does allow tariffs and, in limited circumstances, other forms of protection. More accurately, it is a system of rules dedicated to open, fair and undistorted competition.

• Instance Of

  Q4167410