World Trade Organization ( Wto )

The World Trade Organization, or WTO, was established to grow the global economy and assure its success and safety. The WTO derived from the General Agreement of Tariffs and Trades, or the GATT. The GATT was established in 1948 in order to restore the destroyed global economy after the war. The world needed a united organization

The General Agreement on Tariffs and Trade (GATT) is a set of trade agreements. It was created in hopes for the abolition of quotas and the reduction of tariff duties among it's member nations. GATT’s most important principle was to trade without discrimination. GATT was succeeded by the World Trade Organization in 1995, formally going out of existence on April15,f 1994.

The World Trade Organization was developed in 1995 out of what was known as the Uruguay Round. Although GATT set rules they mostly dealt with issues just involving simple trade of goods and the distribution of tariffs. The WTO has a broader job than the GATT; “…it oversees multilateral agreements relating not just to good, but also to services, investment and intellectual property.” (Douglas Irwin, 186) The World Trade Organization is an independent organization and decisions are made out of consensus of the member countries involved, not from the World Trade Organization itself. When a country complains about another country and the way they run things that could affect their home country, the WTO must make a decision on what must be done. Once a ruling has been made the losing country must implement one of three strategies:

World Trade Organization ( WTO Eng . World Trade Organization (WTO) - an international organization founded January 1, 1995 for the purpose of international trade liberalization and regulation of trade and political relations between the Member States. WTO established under the General Agreement on Tariffs and Trade (GATT) .WTO is responsible for the introduction of new parts as well as enforces the members of the organization of all agreements signed by most countries and ratified by their parliaments. WTO bases its activities on the basis of decisions taken in the years 1986-1994 in the framework of the Uruguay Round and earlier GATT agreements. As of July 2012 , there are different groups of negotiations in the WTO system to address current issues in terms of agriculture, which leads to stagnation in the negotiations themselves .WTO headquarters is in Geneva , Switzerland. WTO chief ( CEO ) - Roberto Carvalho de Azevedo , in the state of the organization about 640 people. On March 2, 2013 the WTO consisted of 159 countries .

On May 19,1948, the General Agreement on Tariffs and Trade or GATT was created. This was not an international organization but an inter-governmental treaty. This provided the framework for the conduct of international trade. But this expanded and grew yearly and in April 1994, in the Uruguay Round of Multilateral Trade Negotiations expanded on the GATT and created the World Trade Organization or WTO.

World Trade Organization (WTO) is an international trade organization which was set up on January 1, 1995. It was developed with the participation of 161 states. The purpose of WTO is to design different agreements relating to trade with the mutual consent of the members companies, setting out trade rules and principles among different countries. WTO aims at reducing obstacles in trade and business between the countries and look into disputes that arise in nature of trade. The prime function of WTO is to provide a framework for manufacturers, importers, exporters and businesses through which they can regulate their working boundaries.

The WTO comes about its rules through rounds of negotiations on certain trade topics or subjects until an agreement is reached upon. The latest completed round of negotiations was the Uruguay Round in 1994, which was predicted to influence world growth and development for decades to come and to have brought about the biggest reform of the world 's trading system since GATT was created .

There are many different ways of understanding the world trade organisation (WTO). It is an organisation for trade openings where the governments of different countries are giving the opportunity to negotiate trade agreements and for them to resolve trade controversy. Many countries have faced a lot of trade barriers and wanted them to be removed, so these negotiations have helped to open trade in the market. Although the organisation is not only about opening markets because in some situations the rules support maintaining trade barriers for the country’s benefit. The agreement signed by the world trading nations is a document which provides legal rules for international exchange. They are contract binding governments to keep their trade policies within an agreed limit. The goal of the WTO is to help conduct the business for producers of goods and services, exporters and importers whereas allowing the governments to meet their social and environmental objectives. The trade relations frequently include contradictory interests, so the most pleasant way to sort out these quarrels is through some unbiased procedures based on an agreed legal foundation. This is the intention behind the dispute settlement process written into the WTO agreements. (WTO | What is the WTO? - Who we are 2016)

There is a saying, “There are gains from trade. Because of trading, we are now driving the fancy sporty cars such as Lamborghini and Ferrari which are produced by Italy; and Italian are using the hottest smart phone which designed by American”. Trading brings a huge benefit for these two countries which is sharing and gaining their superior production to each other. However, nothing can be accomplished without norms or standards. Although trading has diversified advantages, it could be some risks hidden back. For instance, drugs trading and arms trading can endanger national security. Therefore, we need to make up trading agreement to regularize trading among those countries to ensure any trading activities are legal and safety. The World Trade Organization (WTO) which was called General Agreement on Tariffs and Trade (GATT) is an intergovernmental organization which regulates international trade( ). The WTO manages regulation of exchange between the interest nation by giving a structure to arrange exchange assertions and a debate determination procedure to authorize the members’ adherence to WTO understandings, which are marked by agents of part government and confirmed by their parliament.( )THE WTO current has 160 member states which is one of the biggest trade organization. United States has participated in WTO since 1995 and was a member of GATT since 1948. Therefore, United States has built favorable economic relations within WTO member countries. However; United

Founded in 1995, the World Trade Organization (WTO)—formally known as the General Agreement on Tariffs and Trade (GATT)—would officially commence in the late 20th century with more than 123 nations taking part. The intergovernmental organization, which was established to regulate international trade, replaced GATT as of April 15th, 1994 following the signing of the Marrakesh Agreement by more than 120 global nations, and was officially legitimized more than 20 years ago on January 1st 1995 following GATTS’s unsuccessful attempt in creating an International Trade Organization in 1948 (WTO, 2016). It is of vital importance to understand the history of GATT and its eventual development into what is known today as the World Trade

The World Trade Organization (WTO) was officially created in January of 1995 and essentially replaced the General Agreement on Tariffs and Trade (GATT), which had been in force since 1948, a few years after the Second World War (Hill). The World trade Organization (WTO) was born of the GATT to reduce the tariff on trade from and in countries. The World Trade Organization (WTO) was created from the GATT because it functioned more successfully than the GATT originally did. “In the 1980s, as the world economies became more global in trade and business, it became evident that GATT was not built or

In international economy, trade agreement was made to gain fairness between the involved countries. Thus, the World Trade Organization (WTO) is established to protect these agreements and serves consequences for those who violate the agreement. Dumping is one of the examples of violation of the agreements. WTO defined dumping as imported goods in the market of the importing country with price less than its normal value (Trewin&Bosworth 1999, p.134). From one perspective, to protect local producers from dumping, the government imposes anti-dumping measures on imported goods. From another perspective, the anti-dumping measures will cause less incentive for local producers to produce efficiently; thus, it is important to avoid using

The World Trade Organization (WTO) is basically a global international organization which regulates international trade and dealing with the rules of trade between nations. Due to the era of globalization in world trade economy, it leads to the bias toward rich states and multinational corporations harming the smaller countries to have less negotiation power among them. In such case, this assignment will discuss on the historical background of the establishment of WTO, the objectives of the establishment of WTO, the functions on how it works as the international organization. Other than that, this assignment will explain the principles lay down in this agreement, the obligations under the WTO and how many members joined the WTO since the establishment. Besides that, this assignment will elaborate more about the advantages and disadvantages of WTO towards all states members and their relations with the others.

     On January 1, 1995, the WTO replaced GATT, which had been in existence since 1947, as the organization controlling the main trading system. The governments that had signed GATT were then called GATT contracting parties. When signing the new WTO agreements that had the updated GATT, which was called GATT 1994. These countries then

The World Trade Organization (WTO) was founded in 1995 as a result of the Uruguay Round. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT). So while it is still young, the multilateral trading system that was originally set up under GATT is well over 50 years old. The system was developed through a series of trade negotiations, or rounds, held under GATT. The goal of WTO “is to improve the welfare of the peoples of the member countries”. The WTO has a number of principles, which are the foundation of the multilateral trading system.