The World Trade Organization

05/03/2014 | Estefania Alcocer Marquina (Alumna UC)

What is it?
The WTO is an organization in which governments (members) try to resolve trade problems that they face with others. The members make all major decisions as a whole. There are ministers, who meet at least every 2 years and ambassadors, and delegates, who meet regularly in Geneva.

What are its functions?
– Trade negotiations. They make agreements that cover goods, services and intellectual property. Also, it includes commitments to lower tariffs and other trade barriers.
– Implementation and monitoring. These agreements require governments to make laws and adopt measures according to WTO.
– Dispute settlement. The WTO solves trade quarrels, through independent experts based on agreements and commitments.
– Building trade capacity. The WTO agreements contain provisions for developing countries; the WTO organizes cooperation missions to increase their members’ trade opportunities, support to development their trade capacity and to solve disputes.
– Outreach. The WTO maintains regular dialogues with governments, parliaments, other international organizations and the general public.

Currently, there are 159 members and the 1st January 1995, Spain joined the WTO.

In conclusion, the WTO is an international organization whose main purpose is try to open trade for the benefit of all, through its agreements based on fundamental principles like: non-discrimination, be predictable and transparent, be more competitive, be more open (lowering trade barriers), create benefits for less developed countries and environmental protection.

Nota: Este artículo ha sido elaborado por Estefania Alcocer Marquina, alumna de la Universidad de Cantabria, como una de las actividades enmarcadas dentro del programa de capacitación lingüística, dando su permiso para la publicación del mismo en FxM.

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