Agreements Of Wto Class 11

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WTO – World Trade Organization, established in 1995 as the legacy organization of the GATT (General Agreement on Trade and Tariffs). The GATT was established in 1948 with 23 nations as a world (international) trade organization designed to serve all multilateral trade agreements by giving all nations a fair chance for international trade. The WTO is required to establish a rules-based trade government in which countries cannot exercise excessive trade power. The WTOs govern the agreements are the result of negotiations between the members. The current series is, to a large extent, the result of the 1986-1994 Uruguay Round negotiations, which included a complete revision of the General Agreement on Tariffs and Trade (GATT). The new work programme included negotiations and other work on non-agricultural tariffs, trade and the environment, WTO rules on anti-dumping duties and subsidies, trade facilitation, transparency of public procurement, intellectual property and a number of issues raised by developing countries such as difficulties in implementing WTO agreements. The World Trade Organization or WTO is the only international entity that deals with international trade rules and regulations between different countries. These rules and obligations apply only to World Trade Organization member countries. The operation of the WTO is based on WTO agreements negotiated and signed between member states. It should be kept in mind that WTO agreements must be ratified by member state parliaments. The Ministerial Conference, made up of representatives from all Member States, is the WTO`s supreme decision-making power.

It has the power to make decisions on all issues within multilateral trade agreements. The WTO organises hundreds of technical cooperation missions in developing countries each year. In addition, there are numerous trade policy courses for government officials in Geneva every year. Regional seminars are held regularly in all regions of the world, with a focus on African countries. E-learning courses are also offered. In 2017, some 18,500 participants received WTO training to better understand WTO agreements and global trade rules. The result is a more prosperous, peaceful and responsible economic world. Decisions taken in the WTO are generally taken by consensus among all members and ratified by members` parliaments. Trade disputes are integrated into the WTO dispute settlement process, which focuses on interpreting agreements and commitments and how to ensure consistency in members` trade policy.

This reduces the risk of disputes spreading to political or military conflicts. The World Trade Organization`s international trade rules are established by three separate agreements – rules for international trade in goods; the Agreement on Trade-Related Intellectual Property Rights (TRIPS) and the General Agreement on Trade in Services (GATS).

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