2. WHAT IS THE WTO?
The World Trade Organization (WTO)
is the only global international
organization dealing with the rules of
trade between nations.
The goal is to help producers of goods
and services, exporters, and importers
conduct their business
3. ...
Essentially, the WTO is a place where
member governments go, to try to sort
out the trade problems they face with
each other.
By lowering trade barriers, the WTO’s
system also breaks down other
barriers between peoples and nations.
4. ..
At the heart of the system — known as the
multilateral trading system — are the WTO’s
agreements, negotiated and signed by a
large majority of the world’s trading nations,
and ratified in their parliaments.
The agreements were negotiated and
signed by governments. But their purpose is
to help producers of goods and services,
exporters, and importers conduct their
business.
5. INFO:-
WTO is located in Geneva , Switzerland .
It was Established on 1 January 1995
It was created by Uruguay Round negotiations
(1986-94).
161 countries got membership till 26 April,2015.
Budget for 2013 197 million Swiss francs .
Secretariat staff is almost 640.
Its head is Roberto Azevêdo (Director-General).
6. OBJECTIVES:
To improve the standard of living of people in the
member countries.
To ensure full employment and broad increase in
effective demand.
To enlarge production and trade of goods.
To increase the trade of services.
To ensure optimum utilization of world resources.
To protect the environment.
To accept the concept of sustainable development.
7. FUNCTIONS:-
To implement rules and provisions related to trade policy
review mechanism.
To provide a platform to member countries to decide future
strategies related to trade and tariff.
To provide facilities for implementation, administration and
operation of multilateral and bilateral agreements of the
world trade.
To administer the rules and processes related to dispute
settlement.
To ensure the optimum use of world resources.
To assist international organizations such as, IMF and IBRD
for establishing coherence in Universal Economic Policy
determination.
