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The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland [6] that regulates and facilitates international trade. [7] Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System .
The original members of the World Trade Organization are the parties to the General Agreement on Tariffs and Trade (GATT) after ratifying the Uruguay Round Agreements, [1] and the European Communities. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification.
The inaugural ministerial conference was held in Singapore in 1996. Its primary purpose was to initiate an international effort among global trading nations to overhaul the structure and mechanisms of the General Agreement on Tariffs and Trade (GATT) while preserving the considerable progress and success achieved by that system since its inception in 1948.
World Trade Organization: 164 Geneva, Switzerland European Union: 27 Brussels, Belgium Organisation of Petroleum exporting countries (OPEC) 14 Vienna, Austria South Asian Association for Regional Co-operation (SAARC) 8 Kathmandu, Nepal Association of South East Asian Nations (ASEAN) 10 Jakarta, Indonesia Asia-Pacific Economic Cooperation (APEC) 21
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 ]
Since the World Trade Organization's decisions are made by member states, either through a Ministerial Conference or through the General Council, the director-general has little power over matters of policy – the role is primarily advisory and managerial in nature. The director-general supervises the WTO secretariat of about 700 staff and is ...
UN Trade and Development (UNCTAD) is an intergovernmental organization within the United Nations Secretariat that promotes the interests of developing countries in world trade. [1] It was established in 1964 by the United Nations General Assembly (UNGA) as the United Nations Conference on Trade and Development but rebranded to its current name ...
The Dispute Settlement Body (DSB) of the World Trade Organization (WTO) makes decisions on trade disputes between governments that are adjudicated by the Organization. Its decisions generally match those of the Dispute Panel.