World Trade Organization
   
 
WTO Establishing
The WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. (The second WTO ministerial meeting, held in Geneva in May 1998, included a celebration of the 50th anniversary of the system.)
 
The WTO’s agreements
The WTO’s agreements are often called the Final Act of the 1986–1994 Uruguay Round of trade negotiations, although strictly speaking the Final Act is the first of the agreements.
The Final Act, embodying the results of the Uruguay round of multilateral trade negotiations.
   
Agreement Establishing The World Trade Organization
General Agreement on Tariffs and Trade 1947.

General Agreement on Tariffs and Trade 1994.

  Understanding on the Interpretation of Article II:l(b) of the General Agreement on Tariffs and Trade 1994 (“other duties and charges”).
  Understanding on the Interpretation of Article XVII of th e General Agreement on Tariffs and Trade 1994 (on state trading enterprises).
  Understanding on Balance-of-Payments Provisions of the General Agreement on Tariffs and Trade 1994.
  Understanding on Balance-of-Payments Provisions of the General Agreement on Tariffs and Trade 1994.
  Marrakesh Protocol to the General Agreement on Tariffs and Trade 1994.
  Understanding on the Interpretation of Article XXIV of the General Agreement on Tariffs and Trade 1994 (on regional trade agreements).
  Understanding in Respect of Waivers of Obligations under the General Agreement on Tariffs and Trade 1994.
  Understanding on the Interpretation of Article XXVIII of the General Agreement on Tariffs and Trade 1994 (on concession withdrawal).

Agreement on the Application of Sanitary and Phytosanitary Measures.

Agreement on Textiles and Clothing..

Agreement on Technical Barriers to Trade.

Agreement on Trade-Related Investment Measures.

Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994 (antidumping).
Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 (customs valuation).
Agreement on Preshipment Inspection.
Agreement on Rules of Origin.
Agreement on Import Licensing Procedures.
Agreement on Subsidies and Countervailing Measures.
Agreement on Safeguards.
         
         
General Agreement on trade in services (GATS)
Agreement on Trade-Related aspects of Intellectual Property Rights
Understanding on Rules and Procedures governing the settlement of Disputes

Trade Policy review mechanism

Plurialateral Trade Agreements
  • Agreement on Trade in Civil Aircraft
  • Agreement on Government Procurement
  • International Dairy Agreemnt
  • International Bovine Meat Agreement
     
               
  The Uruguay Round's Decisions
  Decision on Measures in Favour of Least-Developed Countries
  Declaration on the Contribution of the World Trade Organization to Achieving Greater Coherence in Global Economic Policymaking
  Decision on Notification Procedures
  Declaration on the Relationship of the World Trade Organization with the International Monetary Fund
  Decision on Measures Concerning the Possible Negative Effects of the Reform Programme on Least-Developed and Net Food-Importing Developing Countries.
  Decision on Notification of First Integration under Article 2.6 of the Agreement on Textiles and Clothing
  Decision on Proposed Understanding on WTO-ISO Standards Information System.
  Decision on Review of the ISO/IEC Information Centre Publication.
  Decision on Anti-Circumvention.
  Decision on Review of Article 17.6 of the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994.
  Declaration on Dispute Settlement Pursuant to the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994 or Part V of the.
  Agreement on Subsidies and Countervailing Measures.
  Decision Regarding Cases where Customs Administrations have Reasons to Doubt the Truth or Accuracy of the Declared Value.
  Decision on Texts Relating to Minimum Values and Imports by Sole Agents, Sole Distributors and Sole Concessionaires.
  Decision on Institutional Arrangements for the General Agreement on Trade in Services.
  Decision on Certain Dispute Settlement Procedures for the General Agreement on Trade in Services.
  Decision on Trade in Services and the Environment.
  Decision on Negotiations on Movement of Natural Persons.
  Decision on Financial Services.
  Decision on Negotiations on Maritime Transport Services.
  Decision on Negotiations on Basic Telecommunications.
  Decision on Professional Services.
  Decision on Accession to the Agreement on Government Procurement.
  Decision on the Application and Review of the Understanding on Rules and Procedures Governingthe Settlement of Disputes.
   
  WTO is an International organization that sets global rules of trade between nations
 

The WTO was established in 1995 as a result of the Uruguay Round of multilateral trade negotiations (1986-1994). It is an international organization that sets global rules of trade between nations. The core of the WTO system, referred to as the multilateral trading system, are the WTO agreements which lay down the legal ground rules for international trade as well as the market-opening commitments taken up by its Members. These agreements are negotiated and signed by all Members of the WTO, and ratified in their parliaments.

The WTO is composed of governments and political entities (such as the EU) and is a member-driven organisation with decisions mainly taken on a consensus basis. Membership implies a balance of rights and obligations. By October 2004, 149 countries had joined the WTO, with around 27 negotiating to sign up. A vast majority of Members are developing countries. The largest and most comprehensive entity is the European Union with its 27 Member States. Indeed, while the Member States co-ordinate their positions in Brussels and Geneva, the European Commission alone speaks for the EU at almost all WTO meetings.

The WTO's top level decision-making body is the Ministerial Conference, which meets at least once every two years. The latest conferences were Seattle (1999), Doha (2001 - which launched the DDA), Cancun (2003) and Hong Kong (2005). Below this, the General Council meets several times a year in the Geneva headquarters. Both are composed of representatives of all Member States. At the next level, the Goods Council, Services Council and Intellectual Property Council as well as numerous specialised committees, working groups and working parties deal with the individual agreements and other areas such as the environment, development, membership applications and trade agreements. Finally, the WTO Secretariat located in Geneva supplies technical support for various councils and committees and the ministerial conferences, analyses world trade and explains WTO affairs to the public and media.

  The Relations Between WTO and other organizations
 
  WTO and IMF sign cooperation agreement
   
The IMF (The International Monetary Fund), is an international organization of 185 member countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries to help ease balance of payments adjustment.
   
   
   
       
  WTO and the World Bank Group (WBG)
   
The World Bank Group (WBG) is a family of five international organizations responsible for providing finance and advice to countries for the purposes of economic development and eliminating poverty. The Bank came into formal existence on 27 December 1945 following international ratification of theBretton Woods agreements, which emerged from  the United Nations Monetary and Financial Conference (1 July – 22 July1944).
   
   
   
               
    WBG agencies:          
   
  1. International Bank for Reconstruction and Development.(IBRD) .

  2. International Development Association (IDA).

  3. International Finance Corporation (IFC).

  4. Multilateral Investment Guarantee Agency (MIGA).

  5. International Centre for Settlement of Investment Disputes (ICSID).
   
   
   
   
  Now, Can you think How the IMF, World Bank & WTO Work Together ?! see study
               
  WTO and TBT (The Agreement on Technical Barriers to Trade.
     
    TBT organizations:  
   
  • The International Organization for Standardization (ISO).

  • The International Telecommunication Union (ITU).

  • The International Electrotechnical Commission (IEC).

   
   
   
ISO - together with IEC (International Electrotechnical Commission) and ITU (International Telecommunication Union) - has built a strategic partnership with WTO. The political agreements reached within the framework of WTO require underpinning by technical agreements. ISO, IEC and ITU, as the three principal organizations in international standardization, have the complementary scopes, the framework, the expertise and the experience to provide this technical support for the growth of the global market..
               
  WTO-WIPO (World Intellectual Property Organization) Cooperation agreement.
   
Desiring to establish a mutually supportive relationship between them, and with a view to establishing appropriate arrangements for cooperation Done in Geneva on 22 December 1995.
               
  The WTO Ministerial Conferences