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World Trade Organization: Wto Agreements
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The World Trade Organization is a rules-based, member-driven, nongovernmental organization (NGO). All decisions are made by member countries, and the rules are the outcome of negotiations among members. The WTO is the only global international organization dealing with the rules of trade among nations. At its heart are international agreements, negotiated and signed by the 148-member trading countrieses and ratified in their parliaments. Countries continue to be accepted as they evolve. The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business.
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The World Trade Organization (WTO) is an international organization which oversees a large number of agreements covering the "rules of trade" between its member states. It was created in 1995 as a secretariat to administer the General Agreement on Tariffs and Trade, a trade treaty which laid much of the groundwork for the WTO. WTO headquarters are located in Geneva, Switzerland. Its current director-general is Supachai Panitchpakdi.
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When the third ministerial conference of the World Trade Organization (WTO) takes place Nov. 30-Dec. 3, 1999, in Seattle, Washington, agricultural exporters need to pay close attention. The conference launches global negotiations to further open markets, remove trade barriers and reduce trade-distorting policies in agriculture, services and, potentially, other areas. In all, 134 WTO member countries have been invited to join the United States in this new round of global trade negotiations.
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You may rememberseeing news footage of the protests at the doors of the World Trade Organization's (WTO) Third Ministerial Conference held in Seattle, Washington, in 1999. Similar demonstrations against the WTO have alsooccurred in Italy, Spain, Canada and Switzerland. What is the WTO, and why do so many people oppose it? The following article addresses these questions and concerns regarding the world's only international organization that deals with the global rules of trade.
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The World Trade Organization was founded in 1995 to replace the General Agreement on Tariffs and Trade (GATT). This multilateral organization aims to lower tariffs and non-tariff barriers to increase international trade. The 146 member states meet in ministerial sessions at least once every two years. NGOs and poor countries fear that further liberalization of trade will only benefit rich countries. WTO negotiations favor the interests of corporate investors and neglect agricultural protectionism and trade subsidies by rich countries. Critics often charge that the WTO functions undemocratically and that it has opaque negotiation procedures that harm the interest of the poor.
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The World Trade Organization (http://www.wto.org) is run by its member governments and comprises 150 member states globally. It is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
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Wto Agreements