INSTITUTIONS AND ENTERPRISES A-B-C-D-E-F-G-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z

WTO - World Trade Organisation

Identification
Name
World Trade Organisation
Acronym
WTO
Logo

Homepage
http://www.wto.org/
General
Foundation
1995, but the former General Agreement on Tariffs and Trade (GATT) was founded in 1948
Staff
627 persons
Annual Budget
183 Million CHF = 124 Million Euros
About WTO

The global international organization dealing with the rules of trade between nations.
At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.
The goal is to help producers of goods and services, exporters, and importers conduct their business.

Principles of the trading system

Trade without discrimination:
A country should not discriminate between its trading partners (giving them equally “most-favoured-nation” or MFN status); and it should not discriminate between its own and foreign products, services or nationals (giving them “national treatment”.

Freer trade: gradually, through negotiation:
Barriers should come down through negotiation.

Predictability: through binding and transparency:
Foreign companies, investors and governments should be confident that trade barriers (including tariffs and non-tariff barriers) should not be raised arbitrarily; tariff rates and market-opening commitments are “bound” in the WTO.

Promoting fair competition:
“Unfair” practices should be discouraged such as export subsidies and dumping products at below cost to gain market share.

Encouraging development and economic reform:
Give them more time to adjust, greater flexibility, and special privileges.

Related Terms
See also

European Standard
International Standards
Standardisation in the EU
ISO - International Organization for Standardization

Identification
Name	World Trade Organisation
Acronym	WTO
Logo
Homepage	http://www.wto.org/
General
Foundation	1995, but the former General Agreement on Tariffs and Trade (GATT) was founded in 1948
Staff	627 persons
Annual Budget	183 Million CHF = 124 Million Euros
About WTO	The global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
Principles of the trading system	Trade without discrimination: A country should not discriminate between its trading partners (giving them equally “most-favoured-nation” or MFN status); and it should not discriminate between its own and foreign products, services or nationals (giving them “national treatment”. Freer trade: gradually, through negotiation: Barriers should come down through negotiation. Predictability: through binding and transparency: Foreign companies, investors and governments should be confident that trade barriers (including tariffs and non-tariff barriers) should not be raised arbitrarily; tariff rates and market-opening commitments are “bound” in the WTO. Promoting fair competition: “Unfair” practices should be discouraged such as export subsidies and dumping products at below cost to gain market share. Encouraging development and economic reform: Give them more time to adjust, greater flexibility, and special privileges.
Related Terms
See also	European Standard International Standards Standardisation in the EU ISO - International Organization for Standardization