WTO

• World Trade Organization

  An international organization that regulates global trade with headquarters in Geneva, Switzerland
• The World Trade Organization has 164 member states that have signed up to its mission statement
• Ideal trade (according to the World Trade Organization)


  • Non-discriminatory
  • Formally agreed with trade agreements
  • As free as possible
  • Predictable
  • Fair with fair competition
  • Beneficial for developing countries
• Role of the World Trade Organization

  1. Set and enforce rules on international trade

  2. Resolve trade disputes

  3. Provide a forum for negotiating trade liberalization

  4. Monitor further trade liberalization

  5. Increase transparency of the decision-making process

  6. Help developing countries fully benefit from free trade

  7. Cooperate with other major economic institutions
• The enforcement of rules by the World Trade Organization can involve punishments such as fines
• The World Trade Organization organizes large international rounds of trade negotiations
• The World Trade Organization headquarters in Geneva allows for faster organization of trade agreements between countries
• Transparency in the World Trade Organization's decision-making process allows for accountability