World Trade Organization in the context of Geneva


World Trade Organization in the context of Geneva

World Trade Organization Study page number 1 of 5

Play TriviaQuestions Online!

or

Skip to study material about World Trade Organization in the context of "Geneva"


⭐ Core Definition: World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. Established on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, it succeeded the General Agreement on Tariffs and Trade (GATT), which was created in 1948. As the world's largest international economic organization, the WTO has 166 members, representing over 98% of global trade and global GDP. It is headquartered in Geneva, Switzerland.

The WTO's primary functions are to provide a framework for negotiating trade agreements and to resolve trade disputes among its members. Its agreements, which are negotiated and signed by the majority of the world's trading nations and ratified in their parliaments, cover trade in goods, services, and intellectual property. The organization operates on the principle of non-discrimination—enshrined in the most-favoured-nation and national treatment provisions—but allows for exceptions for environmental protection, national security, and other objectives.

↓ Menu
HINT:

In this Dossier

World Trade Organization in the context of Constitution of the United Kingdom

The constitution of the United Kingdom comprises the written and unwritten arrangements that establish the United Kingdom of Great Britain and Northern Ireland as a political body. Unlike in most countries, no official attempt has been made to codify such arrangements into a single document, thus it is known as an uncodified constitution. This enables the constitution to be easily changed as no provisions are formally entrenched.

The Supreme Court of the United Kingdom and its predecessor, the Appellate Committee of the House of Lords, have recognised and affirmed constitutional principles such as parliamentary sovereignty, the rule of law, democracy, and upholding international law. It also recognises that some Acts of Parliament have special constitutional status. These include the Magna Carta, which in 1215 required the King to call a "common counsel" (now called Parliament) to represent the people, to hold courts in a fixed place, to guarantee fair trials, to guarantee free movement of people, to free the church from the state, and to guarantee rights of "common" people to use the land. After the Glorious Revolution, the Bill of Rights 1689 and the Claim of Right Act 1689 cemented Parliament's position as the supreme law-making body, and said that the "election of members of Parliament ought to be free". The Treaty of Union in 1706 and the Acts of Union 1707 united the Kingdoms of England, Wales and Scotland, the Acts of Union 1800 joined Ireland, but the Irish Free State separated after the Anglo-Irish Treaty in 1922, leaving Northern Ireland within the UK. After struggles for universal suffrage, the UK guaranteed every adult citizen over 21 years the equal right to vote in the Representation of the People (Equal Franchise) Act 1928. After World War II, the UK became a founding member of the Council of Europe to uphold human rights, and the United Nations to guarantee international peace and security. The UK was a member of the European Union, joining its predecessor in 1973, but left in 2020. The UK is also a founding member of the International Labour Organization and the World Trade Organization to participate in regulating the global economy.

View the full Wikipedia page for Constitution of the United Kingdom
↑ Return to Menu

World Trade Organization in the context of Non-tariff barriers to trade

Non-tariff barriers to trade (NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through measures other than the imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve protectionist purposes. Sometimes, uniformly applied rules of trade may be more burdensome to some countries than others, e.g. for countries with developing economies.

The Southern African Development Community (SADC) defines a non-tariff barrier as "any obstacle to international trade that is not an import or export duty. They may take the form of import quotas, subsidies, customs delays, technical barriers, or other systems preventing or impeding trade". According to the World Trade Organization, non-tariff barriers to trade include import licensing, rules for valuation of goods at customs, pre-shipment inspections, rules of origin ('made in'), and trade prepared investment measures. A 2019 UNCTAD report concluded that trade costs associated with non-tariff measures were more than double those of traditional tariffs.

View the full Wikipedia page for Non-tariff barriers to trade
↑ Return to Menu

World Trade Organization in the context of United Nations System

The United Nations System consists of the United Nations' six principal bodies (the General Assembly, Security Council, Economic and Social Council (ECOSOC), Trusteeship Council, International Court of Justice (ICJ), and the United Nations Secretariat), the specialized agencies and related organizations. The UN System includes subsidiary bodies such as the separately administered funds and programmes, research and training institutes, and other subsidiary entities. Some of these organizations predate the founding of the United Nations in 1945 and were inherited after the dissolution of the League of Nations.

The executive heads of some of the United Nations System organizations, and the World Trade Organization, which is not formally part of the United Nations System, have seats on the United Nations System Chief Executives' Board for Coordination (CEB). This body, chaired by the secretary-general of the United Nations, meets twice a year to co-ordinate the work of the organizations of the United Nations System.

View the full Wikipedia page for United Nations System
↑ Return to Menu

World Trade Organization in the context of Telephone company

A telecommunications company is a kind of electronic communications service provider, more precisely a telecommunications service provider (TSP), that provides telecommunications services such as telephony and data communications access. Many traditional solely telephone companies now function as internet service providers (ISPs), and the distinction between a telephone company and ISP has tended to disappear completely over time, as the current trend for supplier convergence in the industry develops. Additionally, with advances in technology development, other traditional separate industries such as cable television, Voice-over IP (VoIP), and satellite providers offer similar competing features as the telephone companies to both residential and businesses leading to further evolution of corporate identity have taken shape.

Due to the nature of capital expenditure involved in the past, most telecommunications companies were government-owned agencies or privately owned monopolies operated in most countries under close state regulation. But today there are many private players in most regions of the world, and even most of the government-owned companies have been opened up to competition in-line with World Trade Organization (WTO) policy agenda. Historically, these government agencies were often referred to, primarily in Europe, as PTTs (postal, telegraph and telephone services). Telecommunications companies are common carriers, and in the United States are also known as local exchange carriers. With the advent of mobile telephony, telecommunications companies now include wireless carriers, or mobile network operators and even satellite providers (Iridium).

View the full Wikipedia page for Telephone company
↑ Return to Menu

World Trade Organization in the context of Economy of Russia

The economy of Russia is a high-income, industrialized, mixed and market-oriented emerging economy. It has the ninth-largest economy in the world by nominal GDP and the fourth-largest economy by GDP (PPP). Due to a volatile currency exchange rate, its GDP measured in nominal terms fluctuates sharply. Russia was the last major economy to join the World Trade Organization (WTO), becoming a member in 2012.

Russia has large amounts of energy resources throughout its vast landmass, particularly natural gas and petroleum, which play a crucial role in its energy self-sufficiency and exports. The country has been widely described as an energy superpower; with it having the largest natural gas reserves in the world, the second-largest coal reserves, the eighth-largest oil reserves, and the largest oil shale reserves in Europe. Russia is the third-largest exporter of natural gas, the second-largest natural gas producer, the second-largest oil exporter and producer, and the third-largest coal exporter. As of 2020, its foreign exchange reserves were the fifth-largest in the world. Russia has a labour force of about 73 million people, which is the eighth-largest in the world. It is the third-largest exporter of arms in the world. The large oil and gas sector accounted up to 30% of Russia's federal budget revenues in 2024, down from 50% in the mid-2010s, suggesting economic diversification.

View the full Wikipedia page for Economy of Russia
↑ Return to Menu

World Trade Organization in the context of Member state

A member state is a state that is a member of an international organization or of a federation or confederation.

Since the World Trade Organization (WTO) and the International Monetary Fund (IMF) include some members that are not sovereign states, neither organization ever speaks of "member states". The WTO has simply "members" (see WTO members), and the IMF refers to its members as "member countries".

View the full Wikipedia page for Member state
↑ Return to Menu

World Trade Organization in the context of Barriers to trade

Trade barriers are government-induced restrictions on international trade. Most trade barriers work on the same principle: the imposition of some sort of cost (money, time, bureaucracy, quota) on trade that alters the price or availability of the traded products. Barriers take the form of tariffs (which impose a financial burden on imports) and non-tariff barriers to trade (which uses other overt and covert means to restrict imports and occasionally exports). Trade barriers have been criticized for their negative impacts on consumers and their unequal applications to developing countries.

The use of trade barriers has shifted throughout history. Protectionist policies were commonplace in the mercantilist era, but a combination of industrialization and liberalization led to a shift towards free trade in the mid-to-late 19th century. The interwar period led to a regression back to protectionism, but post-WWII there was a near-universal commitment to multilateralism and the creation of international organizations that led to lower tariffs and decreased protectionism. While organizations like the World Trade Organization still provide an avenue for trade negotiations, in recent times there has been a shift away from trade openness and towards plurilateral agreements and regionalism.

View the full Wikipedia page for Barriers to trade
↑ Return to Menu

World Trade Organization in the context of Preferential trading area

A preferential trade area (also preferential trade agreement, PTA) is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely. It is the first stage of economic integration.

These tariff preferences have created numerous departures from the normal trade relations principle, namely that World Trade Organization (WTO) members should apply the same tariff to imports from other WTO members.

View the full Wikipedia page for Preferential trading area
↑ Return to Menu

World Trade Organization in the context of United Nations Conference on Trade and Development

UN Trade and Development (UNCTAD) is an intergovernmental organization within the United Nations Secretariat that promotes the interests of developing countries in world trade. It was established in 1964 by the United Nations General Assembly (UNGA) as the United Nations Conference on Trade and Development but rebranded to its current name on the occasion of its 60th anniversary in 2024. It reports to both the General Assembly and the United Nations Economic and Social Council (ECOSOC). UNCTAD is composed of 195 member states and works with non-governmental organizations worldwide; its permanent secretariat is at UNOG in Geneva, Switzerland.

The primary objective of UNCTAD is to formulate policies relating to all aspects of development, including trade, aid, transport, finance and technology. It was created in response to concerns among developing countries that existing international institutions like GATT (since replaced by the World Trade Organization), the International Monetary Fund (IMF), and the World Bank were not properly organized to handle the particular problems of developing countries; UNCTAD would provide a forum where developing nations could discuss and address problems relating to their economic development.

View the full Wikipedia page for United Nations Conference on Trade and Development
↑ Return to Menu

World Trade Organization in the context of European Union free trade agreements

The European Union has concluded free trade agreements (FTAs).The European Union negotiates free trade deals on behalf of all of its member states, as the member states have granted the EU an "exclusive competence" to conclude trade agreements. Even so, member states' governments control every step of the process (via the Council of the European Union, whose members are national ministers from each national government):

  • Before negotiations start, member states' governments (via the Council of Ministers) approve the negotiating mandate;
  • During negotiations, member states' governments are regularly briefed on the progress of negotiations and can update the negotiations mandate or suspend negotiations;
  • Upon conclusion of negotiations, member states' governments decide whether the agreement should be signed;
  • After approval from the European Parliament and (in case the agreement covers areas other than trade such as investment protection) upon ratification in each member state parliament, member states' governments decide whether the agreement should be concluded and enter into effect.

The list below only includes countries that have an FTA with the European Union according to the WTO.

View the full Wikipedia page for European Union free trade agreements
↑ Return to Menu

World Trade Organization in the context of Liberal international order

In international relations, the liberal international order (LIO), also known as the rules-based order (RBO), consists of a set of global, rule-based, structured relationships based on political liberalism, economic liberalism and liberal internationalism since the late 1940s. More specifically, it entails international cooperation through multilateral institutions (like the United Nations, World Trade Organization and International Monetary Fund) and is constituted by human equality (freedom, rule of law and human rights), open markets, security cooperation, promotion of liberal democracy, and monetary cooperation. The order was established in the aftermath of World War II, led in large part by the United States.

The nature of the LIO, as well as its very existence, has been debated by scholars. The LIO has been credited with expanding free trade, increasing capital mobility, spreading democracy, promoting human rights, and collectively defending the Western world from the Soviet Union. The LIO facilitated unprecedented cooperation among the states of North America, Western Europe and Japan. Over time, the LIO facilitated the spread of economic liberalism to the rest of the world, as well as helped consolidate democracy in formerly fascist or communist countries.

View the full Wikipedia page for Liberal international order
↑ Return to Menu

World Trade Organization in the context of Free trade

Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist political parties generally support protectionism, the opposite of free trade.

Most nations are today members of the World Trade Organization multilateral trade agreements. States can unilaterally reduce regulations and duties on imports and exports, as well as form bilateral and multilateral free trade agreements. Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world. Most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes and non-tariff barriers, such as regulatory legislation.

View the full Wikipedia page for Free trade
↑ Return to Menu

World Trade Organization in the context of Economic globalization

Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization.Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational regimes, institutions, corporations, and people.

While economic globalization has been expanding since the emergence of trans-national trade, it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, and by developments in science and technology. The rate of globalization has also increased under the framework of the General Agreement on Tariffs and Trade and the World Trade Organization in which countries gradually cut down trade barriers and opened up their current accounts and capital accounts. This recent boom has been largely supported by developed economies integrating with developing countries through foreign direct investment, lowering costs of doing business, the reduction of trade barriers, and in many cases cross-border migration.

View the full Wikipedia page for Economic globalization
↑ Return to Menu

World Trade Organization in the context of Carlos Salinas de Gortari

Carlos Salinas de Gortari (Spanish pronunciation: [ˈkaɾlos saˈlinas ðe ɣoɾˈtaɾi]; born 3 April 1948) is a Mexican economist, historian and former politician who served as the 60th president of Mexico from 1988 to 1994. He is considered the frontman of Mexican Neoliberalism, responsible for formulating, promoting, signing and implementing the North American Free Trade Agreement. Affiliated with the Institutional Revolutionary Party (PRI), earlier in his career he worked in the Secretariat of Programming and Budget, eventually becoming Secretary. He secured the party's nomination for the 1988 general election and was elected amid widespread accusations of electoral fraud.

An economist, Salinas de Gortari was the first Mexican president since 1946 who was not a law graduate. His presidency was characterized by the entrenchment of the neoliberal, free trade economic policies initiated by his predecessor Miguel de la Madrid in observance of the Washington Consensus, mass privatizations of state-run companies and the reprivatization of the banks, Mexico's entry into NAFTA, negotiations with the right-wing opposition party PAN to recognize their victories in state and local elections in exchange for supporting Salinas' policies, normalization of relations with the Catholic clergy, and the adoption of a new currency. From the beginning of his administration, Salinas de Gortari was criticized by the Mexican left, who considered him an illegitimate president whose neoliberal policies led to higher unemployment and were perceived as giving away the wealth of the nation to foreign ownership, whereas he was praised by the right wing and the international community, who considered him a leading figure of globalization and credited him with modernizing the country. Salinas was also backed by the United States government in his bid for Director-General of the newly created World Trade Organization (WTO).

View the full Wikipedia page for Carlos Salinas de Gortari
↑ Return to Menu

World Trade Organization in the context of Dispute resolution

Dispute resolution or dispute settlement is the process of resolving disputes between parties. The term dispute resolution is conflict resolution through legal means.

Prominent venues for dispute settlement in international law include the International Court of Justice (formerly the Permanent Court of International Justice); the United Nations Human Rights Committee (which operates under the ICCPR) and European Court of Human Rights; the Panels and Appellate Body of the World Trade Organization; and the International Tribunal for the Law of the Sea. Half of all international agreements include a dispute settlement mechanism.

View the full Wikipedia page for Dispute resolution
↑ Return to Menu

World Trade Organization in the context of UK constitutional law

The United Kingdom constitutional law concerns the governance of the United Kingdom of Great Britain and Northern Ireland. With the oldest continuous political system on Earth, the British constitution is not contained in a single code but principles have emerged over centuries from common law statute, case law, political conventions and social consensus. In 1215, Magna Carta required the King to call "common counsel" or Parliament, hold courts in a fixed place, guarantee fair trials, guarantee free movement of people, free the church from the state, and it enshrined the rights of "common" people to use the land. After the English Civil War and the Glorious Revolution 1688, Parliament won supremacy over the monarch, the church and the courts, and the Bill of Rights 1689 recorded that the "election of members of Parliament ought to be free". The Act of Union 1707 unified England, Wales and Scotland, while Ireland was joined in 1800, but the Republic of Ireland formally separated between 1916 and 1921 through bitter armed conflict. By the Representation of the People (Equal Franchise) Act 1928, almost every adult man and woman was finally entitled to vote for Parliament. The UK was a founding member of the International Labour Organization (ILO), the United Nations, the Commonwealth, the Council of Europe, and the World Trade Organization (WTO).

The constitutional principles of parliamentary sovereignty, the rule of law, democracy and internationalism guide the UK's modern political system. The central institutions of modern government are Parliament, the judiciary, the executive, the civil service and public bodies which implement policies, and regional and local governments. Parliament is composed of the House of Commons, elected by voter constituencies, and the House of Lords which is mostly appointed on the recommendation of cross-political party groups. To make a new Act of Parliament, the highest form of law, both Houses must read, amend, or approve proposed legislation three times. The judiciary is headed by a twelve-member Supreme Court. Underneath are the Court of Appeal for England and Wales, the Court of Appeal in Northern Ireland, and the Court of Session for Scotland. Below these lie a system of high courts, Crown courts, or tribunals depending on the subject in the case. Courts interpret statutes, progress the common law and principles of equity, and can control the discretion of the executive. While the courts may interpret the law, they have no power to declare an Act of Parliament unconstitutional. The executive is headed by the Prime Minister, who must command a majority in the House of Commons. The Prime Minister appoints a cabinet of people who lead each department, and form His Majesty's Government. The King himself is a ceremonial figurehead, who gives royal assent to new laws. By constitutional convention, the monarch does not usurp the democratic process and has not refused royal assent since the Scottish Militia Bill in 1708. Beyond the Parliament and cabinet, a civil service and a large number of public bodies, from the Department of Education to the National Health Service, deliver public services that implement the law and fulfil political, economic and social rights.

View the full Wikipedia page for UK constitutional law
↑ Return to Menu