no category or items)

World Trade Organization PDF Print E-mail

The World Trade Organization WTO, one of the youngest of international organizations, is the successor to the General Agreement on Tariff and Trade (GATT) established in the wake of the Second World War.The WTO is the only international organization dealing with the global rules of trade between nations.


WTO's agreements are known as the multilateral trading system, negotiated and signed by a large majority of the world's trading nations, and ratified in their parliaments. These agreements are the legal ground rules for international commerce. Essentially, they are constrats, guaranteeing member countries important trade rights. They also bind governments to keep their trade policies within agreed limits to everybody's benefit.


The agreements were negotiated and signed by governments. But their purpose is to help producers of goods and services, exporters, and importers conduct their business and to improve the welfare of the people of the members countries.

The WTO came into existence on January, 1st 1995. As a result of the agreement reached in the seven-year long Uruguay Round of multilateral trade negotiations that were completed the previous year. Its history however extends much further back, at least to the proposed International Trade Organization ITO that was designed in the mid 1940s alongside with the other Bretton Woods institutions, the IMF and the World Band. The instead by the GATT, which had been agreed upon originally as only a temporary measure pending approval of the ITO.


The WTO is composed of governments and political entities (such as the EU) and is a member-driven organization with decisions mainly taken on a consensus basis. Membership implies a balance of rights and obligations. The WTO has nearly 150 members, accounting for over 97% of world trade. Around 30 others are negotiating membership.

A vast majority of Members are developing countries. The largest and most comprehensive entity is the European Union with its 25 Member States. Indeed, while the Member States co-ordinate their positions in Brussels and Geneva, the European Commission alone speaks for the EU at almost all WTO meetings.


The WTO is expected to lead to amore prosperous, peaceful and accountable economic world. Decision in the WTO is typically taken by consensus among all member countries and they are ratified by member's parliaments. Trade friction is channeled into the interpreting agreements and commitments, and how to ensure that countries trade policies conform .In that way, the risk of disputes spilling over into political or military conflict is reduced.


The WTO’s Agriculture Agreement was negotiated in the 1986-1994Uruguay Round and is a significant first step towards fairer competition and a less distorted sector. It includes specific commitments by WTO member governments to improve market access and reduce trade-distorting subsidies in agriculture. These commitments are being implemented over a six year period (10 years for developing countries) that began in 1995



User Login
Sign in

Jordan Weather
Copyrights 2011 ©, JEPA
Created by Builders-Solutions
About Us | Our Products | Our Members | Become a Member | Business Opportunities | Agriculture in Jordan | Agricultural Calendar | Event Calendar | About Jordan | Infos? Home Page | Members Area | News Lounge | FAQ | Gallery | Useful Links | Contact Us |