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The Importance Of Wto
By Amarendra Bhushan, Wed Dec 7th
The WTO was established in 1995 as a result of the Uruguay Roundof multilateral trade negotiations (1986-1994). It is aninternational organization that sets global rules of tradebetween nations. The core of the WTO system, referred to as themultilateral trading system, are the WTO agreements which laydown the legal ground rules for international trade as well asthe market-opening commitments taken up by its Members. Theseagreements are negotiated and signed by all Members of the WTO,and ratified in their parliaments. The WTO is composed of governments and political entities (suchas the EU) and is a member-driven organisation with decisionsmainly taken on a consensus basis. Membership implies a balanceof rights and obligations. By October 2004, 149
countries hadjoined the WTO, with around 25 negotiating to sign up. A vastmajority of Members are developing countries. The largest andmost comprehensive entity is the European Union with its 25Member States. Indeed, while the Member States co-ordinate theirpositions in Brussels and Geneva, the European Commission alonespeaks for the EU at almost all WTO meetings. The WTO's top level decision-making body is the MinisterialConference, which meets at least once every two years. Thelatest conferences were Seattle (1999), Doha (2001 – whichlaunched the DDA) and Cancun (2003). Below this, the GeneralCouncil meets several times a year in the Geneva headquarters.Both are composed of representatives of all Member States. Atthe next level, the Goods Council, Services Council andIntellectual Property Council as well as numerous specialisedcommittees, working groups and working parties deal with theindividual agreements and other areas such as the environment,development, membership applications and trade agreements.Finally, the WTO Secretariat located in Geneva suppliestechnical support for various councils and committees and theministerial conferences, analyses world trade and explains WTOaffairs to the public and media. See more info on the WTO. (Article continued below)
Currently, the WTO Members are engaged in a broad round ofmultilateral trade negotiations, called “the Doha DevelopmentAgenda” (DDA). In July 2004, Members agreed on a FrameworkAgreement that sets a clear agenda for the formulation of a newset of trade rules by the end of the DDA and decided that thenext WTO Ministerial will be held in Hong Kong in December 2005. Members and Observers Albania 8 September 2000 Angola 23 November 1996 Antigua andBarbuda 1 January 1995 Argentina 1 January 1995 Armenia 5February 2003 Australia 1 January 1995 Austria 1 January 1995Bahrain, Kingdom of 1 January 1995 Bangladesh 1 January 1995Barbados 1 January 1995 Belgium 1 January 1995 Belize 1 January1995 Benin 22 February 1996 Bolivia 12 September 1995 Botswana31 May 1995 Brazil 1 January 1995 Brunei Darussalam 1 January1995 Bulgaria 1 December 1996 Burkina Faso 3 June 1995 Burundi23 July 1995 Cambodia 13 October 2004 Cameroon 13 December 1995Canada 1 January 1995 Central African Republic 31 May 1995 Chad19 October 1996 Chile 1 January 1995 China 11 December 2001Colombia 30 April 1995 Congo 27 March 1997 1 January1995 Côte d'Ivoire 1 January 1995 Croatia 30 November 2000 Cuba20 April 1995 Cyprus 30 July 1995 Czech Republic 1 January 1995Democratic Republic of the Congo 1 January 1997 Denmark 1January 1995 Djibouti 31 May 1995 Dominica 1 January 1995Dominican Republic 9 March 1995 Ecuador 21 January 1996 Egypt 30June 1995 El Salvador 7 May 1995 Estonia 13 November 1999European Communities 1 January 1995 Fiji 14 January 1996 Finland1 January 1995 Former Yugoslav Republic of Macedonia (FYROM) 4April 2003 France 1 January 1995 Gabon 1 January 1995 The Gambia23 October 1996 Georgia 14 June 2000 Germany 1 January 1995Ghana 1 January 1995 Greece 1 January 1995 Grenada 22 February1996 Guatemala 21 July 1995 Guinea 25 October 1995 Guinea Bissau31 May 1995 Guyana 1 January 1995 Haiti 30 January 1996 Honduras1 January 1995 Hong Kong, China 1 January 1995 Hungary 1 January1995 Iceland 1 January 1995 India 1 January 1995 Indonesia 1January 1995 Ireland 1 January 1995 Israel 21 April 1995 Italy 1January 1995 Jamaica 9 March 1995 Japan 1 January 1995 Jordan 11April 2000 Kenya 1 January 1995 Korea, Republic of 1 January1995 Kuwait 1 January 1995 Kyrgyz Republic 20 December 1998Latvia 10 February 1999 Lesotho 31 May 1995 Liechtenstein 1September 1995 Lithuania 31 May 2001 Luxembourg 1 January 1995Macao, China 1 January 1995 Madagascar 17 November 1995 Malawi31 May 1995 Malaysia 1 January 1995 Maldives 31 May 1995 Mali 31May 1995 Malta 1 January 1995 Mauritania 31 May 1995 Mauritius 1January 1995 Mexico 1 January 1995 Moldova 26 July 2001 Mongolia29 January 1997 Morocco 1 January 1995 Mozambique 26 August 1995Myanmar 1 January 1995 Namibia 1 January 1995 Nepal 23 April2004 Netherlands — For the Kingdom in Europe and for theNetherlands Antilles 1 January 1995 New Zealand 1 January 1995Nicaragua 3 September 1995 Niger 13 December 1996 Nigeria 1January 1995 Norway 1 January 1995 Oman 9 November 2000 Pakistan1 January 1995 Panama 6 September 1997 Papua New Guinea 9 June1996 Paraguay 1 January 1995 Peru 1 January 1995 Philippines 1January 1995 Poland 1 July 1995 Portugal 1 January 1995 Qatar 13January 1996 Romania 1 January 1995 Rwanda 22 May 1996 SaintKitts and Nevis 21 February 1996 Saint Lucia 1 January 1995Saint Vincent & the Grenadines 1 January 1995 Senegal 1 January1995 Sierra Leone 23 July 1995 Singapore 1 January 1995 SlovakRepublic 1 January 1995 Slovenia 30 July 1995 Solomon Islands 26July 1996 South Africa 1 January 1995 Spain 1 January 1995 SriLanka 1 January 1995 Suriname 1 January 1995 Swaziland 1 January1995 Sweden 1 January 1995 Switzerland 1 July 1995 ChineseTaipei 1 January 2002 Tanzania 1 January 1995 Thailand 1 January1995 Togo 31 May 1995 Trinidad and Tobago 1 March 1995 Tunisia29 March 1995 Turkey 26 March 1995 Uganda 1 January 1995 UnitedArab Emirates 10 April 1996 United Kingdom 1 January 1995 UnitedStates of America 1 January 1995 Uruguay 1 January 1995Venezuela 1 January 1995 Zambia 1 January 1995 Zimbabwe 5 March1995 Observer governments back to top Afghanistan Algeria Andorra Azerbaijan Bahamas Belarus BhutanBosnia and Herzegovina Cape Verde Equatorial Guinea EthiopiaHoly See (Vatican) Iraq Kazakhstan Lao People's DemocraticRepublic Lebanese Republic Libya Montenegro Russian FederationSamoa Sao Tome and Principe Saudi Arabia Serbia Seychelles SudanTajikistan Tonga Ukraine Uzbekistan Vanuatu Viet Nam Yemen
About the author:Meet Amarendra Bhushan,As one of the leading article writer, andcorporate hotel professional. Advisor to various organizationsand great sports fan. He is an elected member of south Indianhotel and restaurant federation. Now staying at city of AthensGreece. Amarendra bhushan Dhiraj Athens, GreecePH-0030-6947667507 Abdhraj@mail.gr | 