Looking Back at 20 Years of Multilateral Trade
Who is the World Trade Organization?
The WTO is a global organization that deals with the rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
Where is the WTO located?
Geneva, Switzerland
How many countries are members?
160 countries (as of June, 2014)
Members Members, dually represented with European Union
Observers Non Members No official interaction with WTO
WTO’s Primary Functions
• Administering WTO Trade Agreements
• Forum for trade negotiations
• Handling trade disputes
• Monitoring national trade policies
• Technical assistance & training for developing countries
• Cooperation with other international organizations
WTO’s Governance Structure
The WTO has an unusual governance structure in two respects:
1) Each member country has 1 vote in decisions regarding trade rules.
2) New WTO rules are only implemented if unanimous agreement. This makes changing rules
difficult.
At the heart of the system are the WTO’s agreements. These Agreements are the legal ground-rules for international commerce. The goal is to improve the welfare of the peoples of the member countries.
1) Help to remove or reduce barriers to international trade between member countries
2) Achieve global economic development through optimum utilization of world resources
3) Increase market share of developing countries through assistance in their development efforts
4) Follow a non-discriminatory policy for all member countries
5) Act as a mediator to settle disputes between member countries
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