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    World Trade Organization History

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    kristinelamoreno
    The World Trade Organization (WTO) is an intergovernmental organization based in Geneva that regulates and facilitates international trade between 164 member states representing over 98% of global trade. The WTO provides a framework for negotiating trade agreements to reduce or eliminate trade barriers and administers dispute resolution. It began operations in 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade. The WTO is the largest international economic organization and aims to increase trade and reduce trade barriers.

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    World Trade Organization History

    Uploaded by

    kristinelamoreno
    25 views1 page
    The World Trade Organization (WTO) is an intergovernmental organization based in Geneva that regulates and facilitates international trade between 164 member states representing over 98% of global trade. The WTO provides a framework for negotiating trade agreements to reduce or eliminate trade barriers and administers dispute resolution. It began operations in 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade. The WTO is the largest international economic organization and aims to increase trade and reduce trade barriers.

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    The World Trade Organization (WTO) is an intergovernmental organization based in Geneva that regulates and facilitates international trade between 164 member states representing over 98% of global trade. The WTO provides a framework for negotiating trade agreements to reduce or eliminate trade barriers and administers dispute resolution. It began operations in 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade. The WTO is the largest international economic organization and aims to increase trade and reduce trade barriers.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    25 views1 page

    World Trade Organization History

    Uploaded by

    kristinelamoreno
    The World Trade Organization (WTO) is an intergovernmental organization based in Geneva that regulates and facilitates international trade between 164 member states representing over 98% of global trade. The WTO provides a framework for negotiating trade agreements to reduce or eliminate trade barriers and administers dispute resolution. It began operations in 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade. The WTO is the largest international economic organization and aims to increase trade and reduce trade barriers.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    World Trade Organization

    The World Trade Organization


    (WTO) is an intergovernmental
    organization based in Geneva,
    Switzerland, that regulates and
    facilitates international trade. It
    is the world's largest
    international economic
    organization, with 164 member
    states representing over 98% of
    global trade and GDP. The
    WTO facilitates trade in goods,
    services, and intellectual
    property by providing a
    framework for negotiating trade agreements, which typically aim to reduce or eliminate tariffs,
    quotas, and other restrictions. It also administers independent dispute resolution to enforce
    participants' adherence to trade agreements and resolve trade-related disputes. The organization
    prohibits discrimination between trading partners but provides exceptions for environmental
    protection and national security. The WTO officially began operations in 1995 under the 1994
    Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT)
    established in 1948. The top decision-making body is the Ministerial Conference, which
    convenes biennially and emphasizes consensus. The WTO's annual budget is around 220 million
    USD, contributed by members based on their proportion of international trade. Studies show the
    WTO has increased trade and reduced trade barriers, and its benefits have been criticized for
    being unequal.
    Ngozi Okonjo-Iweala became the first African woman and woman to hold the Director-General
    of the World Trade Organization (WTO) on March 1, 2021. The WTO's leadership includes
    committees and councils, where member nations influence decision-making processes. The
    number of representatives for major nations may change based on historical periods and
    government composition. Directors- General in the previous years Peter Sutherland Republic of
    Ireland Ireland -1995, Renato Ruggiero of Italy 1995–1999, Mike Moore of New Zealand 1999–
    2002, Supachai Panitchpakdi Thailand 2002–2005, Pascal Lamy France 2005–2013, Roberto
    Azevêdo Brazil 2013–2021, Ngozi Okonjo-Iweala Nigeria 2021– up today. The
    Philippines, a key player in the Asia-Pacific region, joined the WTO in 1995 and actively
    participates in its trade agreements, dispute resolution procedures, and decision-making
    processes, fostering international trade and economic growth.

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