Question

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3. Prepare a minimum 3 double-spaced page report on World Trade Organization.

What is World Trade Organization's mission? What does it do? How does it go about achieving its mission? What does its organizational structure look like? etc.

Answer 1

The world trade organization(WTO) is an international body Established in 1 January 1995,Head quarters at Geneva.It included 161 members.It is also a successor to the General Agreement on Tariffs and Trade (GATT).

MISSION: Whose purpose is to promote free trade by persuading countries to abolish import tariffs and other barriers.The WTO is the only international agency overseeing the rules of international trade.It's mission is free trade agreements,settles trade disputes between governments and organizes trade negotiations.

Objective: To help trade flow smoothly ,freely ,fairly and predictably.

FUNCTIONS

Administering trade agreements

Acting as a forum for trade negotiations

Settling trade disputes

Reviewing national trade policies

Assisting developing countries in trade policy issues,through technical assistance and training programs.

Cooperating with other international organizations

HOW TO ACHIEVE

Through agreements WTO will achieve its mission.The WTO agreements cover goods,services,intellectual property.They spell out the principles of liberalization, and the permitted expectations.They include individual countries commitments to lower customs tariffs and other trade barriers and to open and keep on services markets.They set procedures for settling disputes.They prescribe special treatment for developing countries.They require governments to make their trade policies transparent by notifying the WTO about laws in force and measures adopted,and through regular reports by the secretariat on countries trade policies.

The agreements fall into a simple structure with the six main parts:

An umbrella agreement (The agreement establishing the WTO)

Agreements for each of the three broad areas of trade that the WTO covers(goods,services ad IP)

Dispute settlement and

Reviews of the government's trade policies.

STRUCTURE

The WTO has 153 members,accounting for almost 95 percent of world trade.Around 30 others are negotiating membership.

The WTO run by its member governments.All major decisions are made by the membership as a whole ,either by ministers who meet at least once every two years (ministerial conference).or by their ambassadors or delegates (who meet regularly at Geneva.Decisions are normally taken by consensus.

In this respect,the WTO is different from some other international organizations such as World Bank and IMF.In the WTO ,power is not delegated to a board of directors or the organization head.

The WTO secretariat based in Geneva ,has around 625 staffs and is headed by a director general.

The secretariat's main duties are to supply technical for the various councils and committees and the ministerial conferences,to provide technical assistance for developing countries ,to analyze world trade and to explain WTO to the public and media.

The secretariat also provides some forms of legal assistance in the dispute settlement process and advises governments wishing to become members of the WTO.