Overview
°ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ — the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ — is the international organization whose primary purpose is to open trade for the benefit of all.
See also:
> About the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ —
‘Understanding the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ’
> The °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ in
Brief
The °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development. The °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ also provides a legal and institutional framework for the implementation and monitoring of these agreements, as well as for settling disputes arising from their interpretation and application. The current body of trade agreements comprising the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ consists of 16 different multilateral agreements (to which all °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ members are parties) and two different plurilateral agreements (to which only some °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ members are parties).
Over the past 60 years, the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ, which was established in 1995, and its predecessor organization the GATT have helped to create a strong and prosperous international trading system, thereby contributing to unprecedented global economic growth. The °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ currently has members, of which 117 are developing countries or separate customs territories. °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ activities are supported by a Secretariat of some 700 staff, led by the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ Director-General. The Secretariat is located in Geneva, Switzerland, and has an annual budget of approximately CHF 200 million. The three official languages of the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ are English, French and Spanish.
Decisions in the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ are generally taken by consensus of the entire membership. The highest institutional body is the Ministerial Conference, which meets roughly every two years. A General Council conducts the organization's business in the intervals between Ministerial Conferences. Both of these bodies comprise all members. Specialised subsidiary bodies (Councils, Committees, Sub-committees), also comprising all members, administer and monitor the implementation by members of the various °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ agreements.
More specifically, the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ's main activities are:
— negotiating the reduction or elimination of obstacles to trade (import
tariffs, other barriers to trade) and agreeing on rules governing the
conduct of international trade (e.g. antidumping, subsidies, product
standards, etc.)
— administering and monitoring the application of the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ's agreed rules for
trade in goods, trade in services, and trade-related intellectual property
rights
— monitoring and reviewing the trade policies of our members, as well as
ensuring transparency of regional and bilateral trade agreements
— settling disputes among our members regarding the interpretation and
application of the agreements
— building capacity of developing country government officials in
international trade matters
— assisting the process of accession of some 30 countries who are not yet
members of the organization
— conducting economic research and collecting and disseminating trade data
in support of the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ's other main activities
— explaining to and educating the public about the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ, its mission and its
activities.
The °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ's founding and guiding principles remain the pursuit of open borders, the guarantee of most-favoured-nation principle and non-discriminatory treatment by and among members, and a commitment to transparency in the conduct of its activities. The opening of national markets to international trade, with justifiable exceptions or with adequate flexibilities, will encourage and contribute to sustainable development, raise people's welfare, reduce poverty, and foster peace and stability. At the same time, such market opening must be accompanied by sound domestic and international policies that contribute to economic growth and development according to each member's needs and aspirations.