World trade organization (WTO)

WORLD TRADE ORGANIZATION (WTO) – Is the only international organization that defines institutional and legal framework for international trade system in the area of trade in goods, services and trade-related aspects of intellectual property.

LOCATION - Geneva, Switzerland.

ESTABLISHED – 1 January 1995, as the successor of the General Agreement on Tariffs and Trade (GATT) from 1947.

OBJECTIVE – WTO was established with the objective to ensure free and predictable international trade regime. 

INSTITUTIONAL AND LEGAL FRAMEWORK - Agreement Establishing the World Trade Organization with accompanying annexes.

MINISTERIAL CONFERENCE – Is the topmost decision-making body of the WTO, which brings together all members of the WTO. The Ministerial Conferences are held at least once every two years.

FUNCTIONS OF THE WORLD TRADE ORGANIZATION – The Agreement Establishing the WTO, in Article III defines the following functions: 

-Facilitates the implementation, administration and operation, and further the objectives, of all WTO Agreements;

-Provides the forum for negotiations, as well as implementation of the results of such negotiations;

-Administers the Understanding on Rules and Procedures Governing the Settlement of Disputes and the Trade Policy Review Mechanism;

-Cooperates with other international organizations with the view of achieving greater coherence in global economic policy-making.

OFFICIAL LANGUAGES - English, French and Spanish. 

EVENTS CALENDAR –  The list of regular meetings to be held by the WTO bodies, as well as other events relevant for the operations of the Organization and its members can be found here.