About Lesson
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;
- To make transparent international trade related rules
- To help producers and traders of goods and services
- To strengthen world’s economic situation and increase investment, employment and income
WTO Functions:
- Administering WTO trade agreements
- Forum for trade negotiations
- Handling trade disputes
- Monitoring national trade policies
- Technical assistance and training for developing countries
- Cooperation with other international organizations