World doing this WTO want to enhance
World Trade Organisation The world trade organisation is the one and only organisation that works between nations to make trade safe, smooth and free of hurdles. WTO was established in 1 January 1995, Head office is located at Geneva, Switzerland. (Official website of World Trade Organisation) Functions Trade Negotiations The first main function of WTO is to do trade negotiation between the countries, they work on the principal based on liberalisation and keep the service market open for every nation and provide opportunities of growth to every nation. Moreover, WTO work as a dispute settlement body, by providing them a procedure to solve out disputes. These kind of agreement are renegotiated from time to time.Implementation & Monitoring Every government has to disclose their policies to WTO time to time, there are various councils and committees that make sure requirements are followed by nations.
These councils make sure the implementation of these policies.Dispute settlement WTO trade dispute settlement body plays a vital role in growth and extension of WTO. In dispute settlement body, countries bring their issues to WTO, according to the rules and regulations and procedure of WTO they appoint independent experts for judgements. Decision of these judges are based on interpretation of agreement and individuals country commitmentIncrease Trade Capacity In WTO there are special agreements and provisions for developing nation, by providing them special structure of growth, aid in trade with other nations and proper guidance WTO increasing their trading opportunities and interest of doing trade with other nations.Outrun WTO maintain a regular contact with international organisations, parliaments, non-governments organisations and with general public on various aspects of WTO.
By doing this WTO want to enhance cooperation and increase awareness of WTO activities. ( What we do, World Trade Organisation )Latest Number Of Members WTO has 164 members and 23 observer government, 29 July, 2016 (Members and Observers, World Trade Organisation)Relationship with GATT The General Agreement on Tariff and Trade covers the all international trade of goods. The GATT agreement is the responsibility of the council for Trade in Goods which is made by WTO representatives. The council has 10 committees dealing with specific subjects such asAgricultureMarket AccessSubsidiesAnti-dumping (GATT and The Good Council, World Trade Organisaton) Number of Countries originally signed GATT by 1994 GATT stands for General Agreement on Tariff and Trade.
WTO replaced GATT on 1 January 1995 which was in existence from 1947. The government who signed the GATT were officially known as GATT CONTRACTING PARTIES. Upon signing the updated WTO agreement they officially became the member of WTO. There were 128 members until 1994, they signed the agreement together. (The 128 Countries That Signed GATT by 1994, World Trade Organisation)The Last Five Countries That Became Members of WTO Afghanistan, 29 July 2016Liberia, 14 July 2016Kazakhstan, 30 Nov 2015Seychelles, 26 April 2015Yemen, 26 June, 2014 ( Members and Observers, Member List, World Trade Organisation )