WTO Fundamentals: Facts You Need to Know

WTO Organization: Crucial Facts and Insights

The WTO, or World Trade Organization, is an intergovernmental organization that regulates and facilitates international trade. Effective cooperation in the United Nations system goes to the organization that establishes, revises, and enforces the rules that govern international trade. The World Trade Organization, founded on January 1, 1995, will deal with the rules of trade between nations.

The WTO headquarters are located in Geneva, Switzerland. They have missions. The Centre William Rappard (CWR) is the name of the building that has been home to the WTO Secretariat. The WTO is an alliance of states that currently consists of 159 countries from almost all regions of the world.

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Facts about the World Trade Organization

• The WTO makes it difficult for developing countries to compete with subsidized products from developed countries because of the WTO rules on agricultural subsidies, which will be criticized for distorting trade.

• The World Trade Organization has been criticized for making it difficult for developing countries to access essential medicines.

• The WTO makes it difficult for developing countries to get government contracts that will be provided by the Government.

• The WTO is not doing enough to protect labor rights, which leads to concerns, and it is not resolving the trade disputes.

• The WTO is not supporting the developing countries to compete in the global market, but it will support the developed power-bargaining countries.