WTO- what is it?
The World Trade Organization (WTO) is the only global international organization dealing with the
rules of trade between nations. It is an organization for trade opening. It is a forum for governments
to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of
trade rules. Essentially, the WTO is a place where member governments try to sort out the trade
problems they face with each other.
What they do?
The WTO is run by its member governments. All major decisions are made by the membership as a
whole, either by ministers (who usually meet at least once every two years) or by their ambassadors
or delegates (who meet regularly in Geneva).
The World Trade Organisation (WTO) has a dispute resolution system that allows disputes over
breaches of business agreements.
Objective
The WTO agreements are lengthy and complex because they are legal texts covering a wide range of
You've reached the end of your free preview.
Want to read the whole page?
- Spring '19
- International Trade, World Trade Organization
