World-Trade-Organization.pdf
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1、World Trade Organization The world Trade Organization(WTO)is an international organization designed to supervise and liberalize international trade.The WTO came into being on January 1,1995,and is the successor to the General Agreement on Tariffs and Trade(GATT),which was created in 1947,and continu
2、ed to operate for almost five decades as a de facto international organization.The World Trade Organization deals with the rules of trade between nations at a near-global level;it is responsible for negotiating and implementing new trade agreements,and is in charge of policing member countries adher
3、ence to all the WTO agreements,signed by the bulk of the worlds trading nations and ratified in their parliaments.Most of the WTOs current work comes from the 1986-94 negotiations called the Uruguay Round,and earlier negotiations under the GATT.The organization is currently the host to new negotiati
4、ons,under the Doha Development Agenda(DDA)launched in 2001.The WTO is governed by a Ministerial Conference,which meets every two years;a General Council,which implements the conferences policy decisions and is responsible for day-to-day administration;and a director-general,who is appointed by the M
5、inisterial Conference.The WTOs headquarters are in Geneva.Switzerland.Mission and Functions The WTOs stated goal is to improve the welfare of the peoples of its member countries,specifically by lowering trade barriers and providing a platform for negotiation of trade.Its main mission is to ensure th
6、at trade flows as smoothly,predictably and freely as possible.This main mission is further specified in certain core functions serving and safeguarding five fundamental principles,which are the foundation of the multilateral trading system.Among the various functions of the WTO,these are regarded by
7、 analysts as the most important:It oversees the implementation,administration and operation of the covered agreements.It provides a forum for negotiations and for settling disputes.Additionally,it is the WTOs duty to review the national trade policies,and to ensure the coherence and transparency of
8、trade policies through surveillance in global economic policy-making.Another priority of the WTO is the assistance of developing,lease-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.The WTO is also a center of econom
9、ic research and analysis:regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization.Finally,the WTO cooperates closely with the two other components of the Bretton Woods system,the IMF and the World Bank.Accessi
10、on and Membership The process of becoming a WTO member is unique to each applicant country,and the terms of accession are dependent upon the countrys stage of economic development and current trade regime.The process takes about five years,on average,but it can last more if the country is less than
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