World Trade Organization (WTO): Facts for UPSC Prelims
| Section | Details |
|---|---|
| Introduction | – Established: January 1, 1995 – Headquarters: Geneva, Switzerland – Membership: 164 countries (as of 2024) – Objective: Ensure smooth, predictable, and free global trade |
| Objectives | – Trade Liberalization: Reduce tariffs and trade barriers – Trade Negotiation: Provide a forum for trade negotiations – Dispute Resolution: Facilitate trade dispute resolution – Policy Monitoring: Ensure compliance with trade agreements – Support for Developing Countries: Provide technical assistance and capacity building |
| Reports and Indices | – World Trade Report: Annual analysis of global trade trends – World Trade Statistical Review: Comprehensive trade data – Trade Policy Reviews: Country-level assessments of trade policies – Global Trade Outlook and Statistics: Trade forecasts and trends – Trade Monitoring Reports: Biannual reports on trade-related measures – World Tariff Profiles: Tariff and non-tariff data across 170+ countries – Services Profiles: Detailed statistics on infrastructure services – Trade Profiles: Key trade indicators for member countries – International Trade Statistics: Annual compilation of global trade data – WTO Analytical Index: Legal and policy guidance on WTO agreements |
| Instruments | – General Agreement on Tariffs and Trade (GATT): Core agreement for trade in goods – General Agreement on Trade in Services (GATS): Framework for services trade – Trade-Related Aspects of Intellectual Property Rights (TRIPS): Intellectual property rules – Dispute Settlement Understanding (DSU): Mechanism for trade dispute resolution – Trade Facilitation Agreement (TFA): Simplifies customs and trade processes |
| Structure | – Ministerial Conference: Supreme decision-making body, meets every two years – General Council: Oversees daily operations – Councils for Trade: Includes Councils for Goods, Services, and TRIPS – Committees: Specialized committees for trade issues – Secretariat: Based in Geneva, supports administrative operations |
| Subsidiary Organs | – Dispute Settlement Body (DSB): Oversees dispute resolution – Trade Policy Review Body (TPRB): Monitors members’ trade policies – Committees on Specific Agreements: Cover agriculture, subsidies, and market access |
| Committees | – Committee on Trade and Development: Focuses on developing country issues – Committee on Balance-of-Payments Restrictions: Deals with trade restrictions due to payment difficulties – Committee on Budget, Finance, and Administration: Oversees financial matters |
| Initiatives | – Trade Facilitation Agreement (TFA): Expedites goods movement across borders – Aid for Trade: Supports developing countries in enhancing trade capacity – Enhanced Integrated Framework (EIF): Helps least-developed countries (LDCs) integrate into global trade – Standards and Trade Development Facility (STDF): Improves food safety and SPS standards – Trade Policy Review Mechanism (TPRM): Promotes transparency in trade policies – Trade and Environment: Aligns trade and environmental policies – Trade and Development: Supports developing countries’ participation in trade – Trade and Health: Focuses on public health and trade policies – E-commerce: Develops frameworks for digital trade – Investment Facilitation for Development: Enhances investment processes |
