The World Trade Organization is global international body that deals with regulations of carrying out trade between nations. It facilitates World Trade Organization agreements through negotiation that eventually lead to signing. The ratification of these regulations occurs in the parliaments of the nations. The main goal of World Trade Organization is to assist the producers of goods, services, exporters and importers carry out their business smoothly. The establishment of this organization was in January 1, 1995. It has 159 member states. The headquarters of this organization is in Geneva, Switzerland.
World Trade Organization assists in administering trade agreements by providing forums where trade negotiations occur. This organization helps in handling and settling disputes related to trade that could otherwise destabilize trade between nations (www.wto.org/). It monitors the policies of national trade and ensures that they promote a smooth trade.
WTO achieves this conducting and providing technical assistance to countries that are developing. The organization also cooperates with other international organizations to ensure that nations carry out their trade without disputes. The WTO has an established dispute settling body that settles the trade disputes according to the laid down policies and procedures. This dispute occurs when a member does not fulfill the agreement they make in the World Trade Organization. The member governments also have the responsibility of resolving the disputes between themselves. The World Trade Organization has a council and various committees that facilitate agreements. The committees and the council ensure the implementation of the trade policies by the member states. The WTO carries periodic scrutiny of the trade policies and gives their recommendations on whether they require changes. They also present the required changes to the member states to ensure that trade flows well without much disputes.
Works Cited
"WTO | about the organization." Wto.org, 2014. Web. 22 Feb 2014. <http://www.wto.org/english/thewto_e/thewto_e.htm>.
