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World Trade Organization: Agreements
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Created in 1995 to enforce and expand GATT (the General Agreement on Tariffs and Trade), the World Trade Organization is the most powerful legislative and judicial body in the world. By promoting the 'free trade' agenda of multinational corporations above the interests of local communities, working families, and the environment, the WTO has systematically undermined democracy around the world.
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The World Trade Organization promotes liberalization by encouraging nations to lower trade barriers and to keep them down. Since its original founding in 1948 as the General Agreement of Tariffs and Trade, the GATT/WTO system has seen global tariffs on manufactured goods fall dramatically and global trade volumes grow exponentially, resulting in more freedom and prosperity for hundreds of millions of people.
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The Agreement on Technical Barriers to Trade - ... known as the TBT Agreement is an international treaty of the World Trade Organization. It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade, and entered into force with the establishment of the WTO at the end of 1994.
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The WTO is the only worldwide organization with an authority to create binding agreements that set a regulatory basis for international trade. It ... supervises compliance with these agreements. The WTO's objective is to remove barriers to trade and all kinds of trade-related discrimination. Decisions are adopted by consensus among the members. To become effective, agreements made in the WTO must be
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The conference meets at least once every two years and has the authority to make decisions on all matters of the multilateral trade agreements. The WTO General Council is composed of representatives from member countries and is responsible for day-to-day WTO activities and operations. The General Council reports to the Ministerial Conference. The General Council convenes as the Dispute Settlement Body, which oversees the settlement of trade disputes between members, and as the Trade Policy Review Body, which reviews the trade policies of member countries. The WTO's Council for Trade in Goods, Council for Trade in Services, and the Council for Trade-Related Aspects of Intellectual Property are subsidiary bodies of the council.
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The WTO was formed in 1995 as a multilateral organization to monitor trade and resolve disputes. In addition to negotiating new agreements it was charged with enforcing the provisions established by GATT.
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