World Trade Organization (WTO):

Basics

– Location: Geneva, Switzerland

– Established: 1 January 1995

– Created by Uruguay Round negotiations (1986-94)

– Membership: 153 countries (as of 23 July, 2008) + about 31 applicants (WTO“observers”).

– Budget: 182 Mio. Swiss Francs for 2007

– Secretariat Staff: 625

Headed by:

– Director-General Pacal Lamy (2005 – till)

– Supachai Panitchpakdi (2002-2005)

– Mike Moore (1999-2002)

– Renato Ruggiero (1995-1999)

– World Trade Organization (WTO) is the only international organization dealing with the

global rules of trade between nations.

–  Its main function is to ensure that trade flows as smoothly, predictably and

freely as possible.

Objectives of WTO:

The main objectives of WTO can be specified as;

1. To make transparent international trade related rules
2. To help producers and traders of goods and services
3. To strengthen world’s economic situation and increase investment, employment and income

WTO Functions:

1. Administering WTO trade agreements
2. Forum for trade negotiations
3. Handling trade disputes
4. Monitoring national trade policies
5. Technical assistance and training for developing countries
6. Cooperation with other international organizations