WTO
WTO: World Trade Organization, established on 1 January 1995 as the successor to the GATT (General Agreement on Tariffs and Trade) and its secretariat. The GATT now is one of the agreements administered by the WTO. The two other main agreements it manages are the GATS (General Agreement on Trade in Services) and the Agreement on Trade-Related Aspects of Intellectual Property Rights. On 30 June 2002 the WTO had 144 members. The WTO is an organization for the discussion, negotiation and resolution of trade issues covering goods, services and intellectual property. Its essential functions are administering and implementing the multilateral and plurilateral trade agreements that constitute it, acting as a forum for multilateral trade negotiations, seeking to resolve trade disputes, overseeing national trade policies and cooperating with other international institutions involved in global economic policy-making. Trading into the Future, available on www.wto.org, offers the best description of how the WTO works. See also Marrakesh Agreement Establishing the World Trade Organization.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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