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1986-1994 - GATT negotiations culminate in the Marrakech Agreement that establishes the World Trade Organization (WTO). January 1, 1995 - The WTO comes into existence. May 1, 1995 - Renato Ruggiero becomes director-general for a 4-year term. December 9, 1996 – December 13, 1996 - The inaugural ministerial conference takes place in Singapore.
The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement , signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. [ 2 ]
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
The longest were that of Russia, lasting 19 years and 2 months, [5] Vanuatu, lasting 17 years and 1 month, [6] Comoros, lasting 16 years and 10 months, and China, lasting 15 years and 5 months. [ 7 ] As of 2007, WTO members represented 96.4% of global trade and 96.7% of global GDP. [ 8 ]
The round led to the creation of WTO, and extended the range of trade negotiations, leading to major reductions in tariffs (about 40%) and agricultural subsidies, an agreement to allow full access for textiles and clothing from developing countries, and an extension of intellectual property rights. Doha: November 2001? 159
The 1999 Seattle WTO protests, sometimes referred to as the Battle of Seattle, [1] were a series of anti-globalization protests surrounding the WTO Ministerial Conference of 1999, where members of the World Trade Organization (WTO) convened at the Washington State Convention and Trade Center in Seattle, Washington on November 30, 1999. The ...
As of 4 February 2025, there are 193 member states in the United Nations (UN), each of which is a member of the United Nations General Assembly. [1]The following is a list of United Nations member states arranged in chronological order according to their dates of admission (with the United Nations Security Council resolutions that recommended their admission and the United Nations General ...
In June 2020, Nigerian President Muhammadu Buhari nominated Okonjo-Iweala as the country’s candidate to be director-general of the World Trade Organization (WTO). [54] She later advanced to the election's final round and eventually competed with Yoo Myung-hee. Ahead of the vote, she received the backing of the European Union for her candidacy ...