All exams GARBI ESI
- An intergovernmental organization established in Geneva, Switzerland, in 1995, concerns itself with regulating and facilitating international trade.
- Member states:
- Director General:
- Ngozi Okonjo-Iweala (Since 2021)
- Main aim:
- Tariff reduction for trade and other barriers to trade.
- Membership:
- The organization contains a membership of 166, including 162 Member States of United Nations plus the European Union, Hong Kong, Macao, and Taiwan.
- Languages:
- French, English and Spanish.
- Work:
- WTO creates a framework for trading of goods, services and intellectual property through negotiation of trade agreements
- It has also got an independent dispute settlement procedure as well.
- The institution prohibits discriminatory practices as regards trading partners but has exceptions for some of the basic objectives such as environmental protection, national security, and a few others.
- WTO came into existence on January 1, 1995, succeeding the General Agreement on Tariffs and Trade.
