WTO(World Trade Organisation),Objectives & Functions
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    WTO (World Trade Organisation)

     

    • WTO stands for World Trade Organization. It was established in 1995 and it is the outcome of Bretton Woods Conference which was occurred during second world war.
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    • The WTO officially commenced on 1 Jan 1995 under MARRAKESH Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement of Tariffs & Trades (GATT) which commenced in in year 1948.
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    • The basic idea behind WTO is to develop institute of international level for monitoring, supervising, promoting, liberalizing international trade to worldwide.
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    • Headquarters –  Centre William Rappard , Geneva, Switzerland
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    • Director General – Roberto Azevedo
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    • Official Language – English, French, Spanish

     

     

     

    Objectives Of WTO

    1. The objectives of WTO are –

      • Growth of less developed countries.
      • Trade without any Discrimination.
      • Protection & preservation of Environment.
      • Optimum utilization of worlds available resources.
      • Raising of living of standard of citizen of member country.
      • Increasing Employment globally
      • Settlement of trade disputes among the members countries .

     

    Functions Of WTO

    • Administration of Agreements
    • Implementation of reduction of trade barriers
    • Examination of foreign trade policy
    • Collection of foreign trade information
    • Settlement of disputes
    • Forum for negotiation
    • Assistance of IMF & IBRO

     

     

     

     

     

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