The members of the WTO can file complaints against other member states if they feel the trade and economic policies of a country are divergent from their commitments under one of the agreements of the WTO. The WTO also acts as a dispute settlement body when there is a trade conflict between its member states. It also produces research based on the impact of the agreements on the economies of the countries involved. Once the agreements are negotiated, the job of the WTO is to ensure that the signatory countries adhere to their commitments in practice. It creates an international legal framework that ensures the smooth exchange of goods and services among the member countries. The WTO facilitates trade negotiations among countries by providing a framework to structure the agreements, as well as providing dispute resolution mechanisms. The WTO’s functions can be broadly divided into the following categories: 1. This is part of the monitoring function of the WTO, and it helps the WTO to adapt to the changing economic landscape. The body undertakes regular reviews of the policies to ensure they conform to the rules of the WTO. Member countries are required to inform the WTO about changes in their laws and trade policies. The Trade Policy Review Body is also a part of the General Council and is responsible for ensuring the trade policies of member states are in line with the goals of the WTO. There is also an Appellate Body, where member states can appeal any decisions made against them during a dispute settlement. The Dispute Settlement Body is a part of the General Council and is responsible for settling trade disputes between member states. Examples of such bodies include the Council on Goods, the Councils on Services, the Committee on Textiles under the Council on Goods, etc. The General Council is further divided into multiple councils and committees that focus on specific topics. Its job is to carry out the implementation and monitoring function of the WTO. The General Council comprises the representatives of all member countries and acts as the representative of the Ministerial Conference when it comes to daily operations. The WTO is headed by the Ministerial Conference, while the daily operations are carried out by three administrative bodies: 1. The 12 th Ministerial Conference is now scheduled to take place in June 2021 in Kazakhstan. It can be thought of as the legislative branch of the WTO. It gives equal representation to all its members regardless of the size of their economy or share in international trade. The Conference includes representatives from all members of the WTO. The Ministerial Conference holds the authority to make decisions on any aspects of all multilateral agreements made under the WTO. The Ministerial Conference of the WTO meets every two years to make important decisions about existing trade agreements. Structure of the World Trade Organization The Ministerial Conference There are also observer states that are not signatories to the WTO agreements, and they do not participate in free trade. The 60 trade agreements are accorded the status of international law. It manages 60 global and about 300 regional trade agreements. The WTO provides a common platform to negotiate trade agreements among member countries and to resolve any trade disputes. The organization functions as a central body that facilitates global trade. It came into existence on January 1, 1995, as a successor to the General Agreement on Tariffs and Trade (GATT). The World Trade Organization (WTO) is a multilateral organization headquartered in Geneva, Switzerland. Updated ApWhat is the World Trade Organization (WTO)?
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