For World Trade Organization (Wto) we have terms and definitions in 8 topics. The topics are Accounting, Animal Health, Customs, Finance, Global History, Government, International Business and World Politics.

World Trade Organization (Wto) (Accounting)

is the international trade body formed by the agreement of member nations. The WTO is an evolution of the GATT process designed to resolve trade disputes and work for the lowering of tariff and non-tariff trade barriers.

World Trade Organization (Wto) (Animal Health)

An international organization that regulates trade and tariffs between nations in order to ensure that trade flows smoothly, predictable and as freely as possible. Based in Geneva, the WTO functions by negotiating multilateral agreements, which are then ratified by the member nations in order to protect their trading rights.

World Trade Organization (Wto) (Customs)

As part of the Uruguay Round agreement, GATT Contracting Parties agreed to create a new, permanent umbrella organization to replace GATT: the World Trade Organization. The WTO will facilitate the implementation and administration of the Uruguay Round accord. Like the GATT, it will provide a forum for multilateral trade negotiations; conduct reviews of member country trade policies; and cooperate with the World Bank and the International Monetary Fund in an attempt to achieve greater coherence in global economic policymaking. However, the WTO departs from the GATT model in several ways that will narrow the scope for unilateral action. First, the range of trade issues that the WTO will address has been significantly expanded. Second, the WTO has a much stronger dispute settlement procedure. Third, it provides a permanence that GATT (which was planned as a temporary structure) did not supply. Finally, countries will no longer be able to sign individual codes of conduct in various areas, as was the case in the Tokyo Round accord (1979). Instead, nations that join the WTO must agree to accept automatically all the Uruguay Round accords without exception. Like the GATT, the WTO will have a secretariat headed by a director-general. It will meet in ministerial session at least once every two years. Between these sessions, the WTO will have a General Council composed of representatives of all WTO members that will generally meet once monthly. The General Council will oversee the running of the dispute settlement body and the trade policy review mechanism, under which the trade policies of individual WTO members will be examined periodically. Under the General Council will be several subsidiary bodies, including a Council on Trade in Goods, a Council on Trade-Related Intellectual Property Rights, and a Council for Trade in Services.
See also: Codes of Conduct, Multilateral Trade Negotiations and Uruguay Round,

World Trade Organization (Wto) (Finance)

A multilateral agency that administers world trade agreements, fosters trade relations among nations, and solves trade disputes among member countries.

World Trade Organization (Wto) (Global History)

An international body established in 1995 to foster and bring order to international trade. (p. 889)

World Trade Organization (Wto) (Government)

Used by the United States to open foreign markets to American goods and protect American patents abroad.

World Trade Organization (Wto) (International Business)

The WTO is a multilateral organization that promotes free and fair trade among the nations of the world. It was created in 1994 by 121 nations at the Uruguay Round of the General Agreement on Tariffs and Trade (GATT). The WTO is responsible for implementation and administration of the trade agreement.

World Trade Organization (Wto) (World Politics)

The organization that replaced the General Agreement on Tariffs and Trade (GATT) organization as the body that implements GATT, the treaty.

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