WORLD TRADE ORGANIZATION

Work of World Trade Organization



Work of World Trade Organization

Introduction

The World Trade Organization (WTO) is an international organization dealing with the rules of international trade. The emergence of the WTO was an important milestone in the international order that had begun to be outlined at the end of World War II. It arises from the principles established by the International Trade Organization (ITO), consolidated in Havana Charter, and, since it was not developed further by not accepting the U.S. Congress, the leading economy in the world, with a GDP higher than all the other powers combined, imputed them in the GATT 1959, a temporary agreement, which ended last until the actual creation of the WTO negotiations after the Uruguay Round in 1993 (Qureshi, 1996, pp. 45). The WTO came into operation on 1 January 1995. On July 23 of 2008, Cape Verde became a member. On December 16, 2011, Russia became a member.

Structure of WTO

The Ministerial Conference is the decision making body of the Organization. At the conference, which takes place at least once every two years, participating in all Member States is the only instance that can ratify new agreements on the basis of consensus (Jackson, 1998, pp. 66).

The second level is the organ of the General Council. It meets several times a year and is composed of representatives of the Member States in Geneva. The General Council acting on behalf of the Ministerial Conference on all matters of the Organization, shall meet at times as an organ for the settlement of trade disputes between the United States (Dispute Settlement Body), and as an organ for review of the trade policies of Member States (Trade Policy Review Body).

Under the General Council operate Tips for the exchange of goods, services and intellectual property rights, which are responsible for the functioning of the WTO agreements in the areas of their respective competence and other committees dealing with issues related to trade and development, environment, regional trade agreements, administrative affairs. There are also two other subsidiary bodies dealing with multilateral agreements (not signed by all members) and study commissions that report on their activities to the General Council. Under these Councils operate several other sectoral committees.

The WTO Secretariat is based in Geneva and is led by the Director General. The Secretariat has no decision-making powers and its main activity is to provide technical and logistical support to the various Councils, Committees and Ministerial Conferences, technical assistance to developing countries to facilitate their integration into the international trading system, control and analyze developments in world trade, interact with the media to inform the negotiations, provide forms of legal assistance in the process of settlement of trade disputes and make recommendations to the countries interested in joining the organization.

Work of WTO

In recent decades, global flows - whether of goods, services, capital, pests, chemicals or greenhouse gases - have expanded, together with new technologies, norms and institutions that govern these circulations. Several processes tend to denationalize what had been constructed ...