Difference between revisions of "WTO"

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{{CompanyInfo|
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| logo            = World-Trade-Organisation-WTO-logo.gif
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| type            =
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| industry        =
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| founded        = 1995
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| founders        =
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| ownership      =
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| headquarters    = Centre William Rappard, Geneva, Switzerland
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| country        =
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| businesses      =
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| products        =
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| employees      = 629<ref>[http://www.wto.org/english/thewto_e/secre_e/intro_e.htm Overview of WTO Secretariat]</ref>
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| revenue        =
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| website        = [http://www.wto.org/ wto.org]
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| blog            =
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| facebook        = [http://www.facebook.com/worldtradeorganization World Trade Organisation]
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| linkedin        = [http://www.linkedin.com/company/world-trade-organization World Trade Organisation]
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| twitter        = wto_omc
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| keypeople      = [[Pascal Lamy]], Director-General
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}}
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'''The World Trade Organization''' is intended to perform the function of supervising and liberalizing international trade. Its members drive this organization and member governments take all the decisions only. This organization plays a central role in decisions related to international trading. Any dispute over trade is brought to the knowledge of WTO and it solved the problem through a series of negotiations.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref>
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The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.
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The mission of the organization is to open trade that can benefit all people associated with it.
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==History==
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The origin of the World Trade Organization roots back to October 1947 when twenty-three countries signed the General Agreement on Tariffs and Trade popularly known as GATT. The agreement was signed in Geneva, Switzerland and it was intended to give a new direction to liberalization of international trade.
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Afterwards, proposal for establishment of International Trade Organization was out forward by delegates from fifty-six countries in November 1947 at Havana, Cuba.
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On January 1 1995, the World Trade Organization was established.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref>
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The numbers of member state of WTO grows to 150 when Vietnam became the member on January 11 2007. Presently it has 153(July 2008) member states.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref><ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm WTO-Members and Observers]</ref>
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The first Ministerial Conference was held in 1996 in Singapore.<ref>[http://www.nationalaglawcenter.org/assets/crs/98-928.pdf CRS Report for Congress-The World Trade Organization: Background and Issues]</ref><ref>[http://en.wikipedia.org/wiki/World_Trade_Organization wikipedia-World Trade Organization]</ref>
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==Functions<ref>[http://www.iisd.org/trade/handbook/3_2.htm iisd.org]</ref><ref>[http://en.wikipedia.org/wiki/World_Trade_Organization wikipedia-World Trade Organization]</ref><ref>[http://www.nationalaglawcenter.org/assets/crs/98-928.pdf CRS Report for Congress-The World Trade Organization: Background and Issues]</ref>==
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The World Trade Organization performs versatile functions in the area of international trade and they are as follows:
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===Trade Negotiations<ref>[http://www.iisd.org/trade/handbook/3_6.htm iisd.org]</ref><ref>[http://www.nationalaglawcenter.org/assets/crs/98-928.pdf CRS Report for Congress-The World Trade Organization: Background and Issues]</ref>===
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The organization plays an indispensible role in the area of trade negotiations. The agreements signed by WTO include goods, intellectual property, and services under it. The exceptions that are permitted during the international trade have also been mentioned in these agreements. The best feature of these agreements is they are not static at all. The organization continuously revises the terms and conditions mentioned in the agreement such that they are well suitable to the changing needs and requirements of countries participating in international trade.
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===Monitoring and Implementations===
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The WTO agreements lay down rules and conditions for member companies. The company is not only responsible for formulating laws but it also monitors whether the companies are following them properly or not. Periodically, the organization makes a check on member companies and ensures that each of the laws is implemented to the best extent possible.
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===Settlement of Disputes<ref>[http://www.iisd.org/trade/handbook/3_2.htm iisd.org]</ref><ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/disp1_e.htm UNDERSTANDING THE WTO: SETTLING DISPUTES]</ref>===
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In order to make sure that international trade takes place smoothly and harmony is maintained amongst member companies the organization performs the function of dispute settlement as well. if any of the member companies experience problem while carrying out trade then they can bring the matter to the WTO without giving a second thought. The organization has appointed some experts who can carry out this task efficiently.
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==Reaching Out to People==
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The organization does not work by keeping itself isolated from other firms available in the market. Rather the organization maintains contact with non-government organizations and media such that it can stay aware of happenings taking place in different parts of the world. Moreover, it helps the organization in fetching support whenever required.
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The organization plays a key role in improving trade capacity of member countries as well.
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==References==
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{{reflist}}
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==External links==
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* [http://www.wto.org/ WTO]
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[[Category: Companies]]

Revision as of 20:19, 30 May 2011

World-Trade-Organisation-WTO-logo.gif
Founded: 1995
Headquarters: Centre William Rappard, Geneva, Switzerland
Employees: 629[1]
Website: wto.org
Facebook: World Trade Organisation
LinkedIn: World Trade Organisation
Twitter: TwitterIcon.png@wto_omc
Key People
Pascal Lamy, Director-General

The World Trade Organization is intended to perform the function of supervising and liberalizing international trade. Its members drive this organization and member governments take all the decisions only. This organization plays a central role in decisions related to international trading. Any dispute over trade is brought to the knowledge of WTO and it solved the problem through a series of negotiations.[2]

The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.

The mission of the organization is to open trade that can benefit all people associated with it.

History

The origin of the World Trade Organization roots back to October 1947 when twenty-three countries signed the General Agreement on Tariffs and Trade popularly known as GATT. The agreement was signed in Geneva, Switzerland and it was intended to give a new direction to liberalization of international trade.

Afterwards, proposal for establishment of International Trade Organization was out forward by delegates from fifty-six countries in November 1947 at Havana, Cuba.

On January 1 1995, the World Trade Organization was established.[3]

The numbers of member state of WTO grows to 150 when Vietnam became the member on January 11 2007. Presently it has 153(July 2008) member states.[4][5]

The first Ministerial Conference was held in 1996 in Singapore.[6][7]

Functions[8][9][10]

The World Trade Organization performs versatile functions in the area of international trade and they are as follows:

Trade Negotiations[11][12]

The organization plays an indispensible role in the area of trade negotiations. The agreements signed by WTO include goods, intellectual property, and services under it. The exceptions that are permitted during the international trade have also been mentioned in these agreements. The best feature of these agreements is they are not static at all. The organization continuously revises the terms and conditions mentioned in the agreement such that they are well suitable to the changing needs and requirements of countries participating in international trade.

Monitoring and Implementations

The WTO agreements lay down rules and conditions for member companies. The company is not only responsible for formulating laws but it also monitors whether the companies are following them properly or not. Periodically, the organization makes a check on member companies and ensures that each of the laws is implemented to the best extent possible.

Settlement of Disputes[13][14]

In order to make sure that international trade takes place smoothly and harmony is maintained amongst member companies the organization performs the function of dispute settlement as well. if any of the member companies experience problem while carrying out trade then they can bring the matter to the WTO without giving a second thought. The organization has appointed some experts who can carry out this task efficiently.

Reaching Out to People

The organization does not work by keeping itself isolated from other firms available in the market. Rather the organization maintains contact with non-government organizations and media such that it can stay aware of happenings taking place in different parts of the world. Moreover, it helps the organization in fetching support whenever required.

The organization plays a key role in improving trade capacity of member countries as well.

References

  1. ↑ Overview of WTO Secretariat
  2. ↑ BBC News-Profile: World Trade Organization
  3. ↑ BBC News-Profile: World Trade Organization
  4. ↑ BBC News-Profile: World Trade Organization
  5. ↑ WTO-Members and Observers
  6. ↑ CRS Report for Congress-The World Trade Organization: Background and Issues
  7. ↑ wikipedia-World Trade Organization
  8. ↑ iisd.org
  9. ↑ wikipedia-World Trade Organization
  10. ↑ CRS Report for Congress-The World Trade Organization: Background and Issues
  11. ↑ iisd.org
  12. ↑ CRS Report for Congress-The World Trade Organization: Background and Issues
  13. ↑ iisd.org
  14. ↑ UNDERSTANDING THE WTO: SETTLING DISPUTES

External links

Retrieved from "https://icannwiki.org/index.php?title=WTO&oldid=29990"