What Is the World Trade Organization?

The World Trade Organization (WTO for short), the WTO for short in Chinese. On April 15, 1994, the GATT Uruguay Round of Ministerial Meetings held in Marrakech, Morocco, decided to establish a more global The World Trade Organization to replace the GATT established in 1947. The World Trade Organization is one of the most important international economic organizations in the contemporary era. It has 164 member countries and its total trade volume reaches 98% of the world. It is known as the Economic United Nations.

World Trade Organization

World Trade Organization

Formerly

The purpose of the WTO:

Improve living standards, ensure full employment and substantially and steadily increase real income and

The goal of the World Trade Organization is to build a complete, more dynamic and durable content of goods, services, trade-related investments and intellectual property.

Ministerial meeting

The Ministerial Conference is the highest decision-making authority of the WTO. It consists of ministers, deputy minister-level officials or their plenipotentiaries in charge of foreign trade and economic affairs of all member countries. It usually holds a meeting every two years to discuss and decide all important issues related to WTO functions And take action.

The first meeting was held in Singapore in December 1996. The meeting mainly reviewed the work since the establishment of the World Trade Organization and the implementation of the last round of multilateral trade negotiations, that is, the "Uruguayan Round" agreement. Facilitation is included in the terms of reference of the Cargo Council. The conference finally adopted the Singapore Declaration.

The second meeting was held in Geneva, Switzerland in May 1998. The meeting mainly discussed the implementation of the reached trade agreements, the set schedule and the future negotiation schedule, and the time and place of the third ministerial meeting. The main purpose of the meeting was to prepare for the start of a new round of multilateral trade negotiations at the third ministerial meeting.

The third meeting was held in the United States from November 30 to December 3, 1999

Reciprocity

The legal framework of the World Trade Organization

With the continuous development of international social and economic trade, trade wars in the international economic and trade field have become increasingly frequent. In resolving international economic and trade disputes, the World Trade Organization has played an important role since its establishment.

World Trade Organization

According to World Trade Organization regulations,

WTO membership is divided into four categories: developed members, developing members, transition

The birth of the first global trade agreement

The ninth ministerial conference of the World Trade Organization closed successfully at noon on December 7, 2013 in Bali, Indonesia. The good news of the birth of the first global trade agreement since the establishment of the WTO 18 years ago. Perhaps because the previous negotiations were too clingy and the waiting was too long, the closing ceremony of the meeting seemed particularly warm. With the finalization of the "Balinese Ministerial Declaration", the audience stood up instantly, and the applause was mixed with long-lasting cheers.

The Bali Package Agreement is the most lucrative fruit of this meeting. The World Trade Organization s first global trade agreement in 18 years, it contains 10 documents, covering simplified customs and port clearance procedures, allowing developing countries more options in food security, and assisting the least developed countries to develop trade And so on. ^{[twenty two]}

The goal of the WTO was to monitor the new global order and ensure its legitimacy; however, the WTO does not have any characteristics similar to democratic institutions: the WTO operates secretly and has no obligation to explain its actions to member states or others;

On December 7, 2013, one day later than originally scheduled, the ninth ministerial meeting of the World Trade Organization (WTO) ended in Bali, Indonesia, and the Bali Ministerial Declaration was issued. At the last moment, the meeting reached the Bali Global Agreement, the first global multilateral trade agreement since the WTO was established 18 years ago and the Doha Round of negotiations started 12 years ago. This marks a historic breakthrough in the 12-year deadlock in the Doha Round of trade negotiations. The results of this meeting are very encouraging, but we must also see that this is only a shrinking version of the WTO Doha Round Agreement, which is still far from the full completion of the Doha Round negotiations. ^[25]