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Important Details :
Functions of WTO :
- To oversee, implementing and administering WTO agreements.
- To provide a forum for negotiations.
- To provide a dispute settlement mechanism.
- To provide facilities for implementation, administration and operation of multi-lateral and bilateral agreements of the world trade.
- The WTO is currently endeeavouring to persist with a trade negotiation called Doha Development Agenda (DDA), which was launched in the year 2001, to enhance equitable participation of poor countries, which represent a majority of the world's population.
- Singapore Issues :
- Disagreements between largely developed and developing economies emerged during this conference over four issues initiated by this conference, which led to them being collectively referred to as the "Singapore issues".
- Refer to transparency in government, procurement, trade facilitation, trade and investment and trade and competition.
- Swiss Formula :
- This is a mathematical formula designed to cut and harmonize tariff rates in international trade.
- Relates to NAMA (Non-Agricultural Market Access)
WTO Conferences :
- 1st Conference :
- Year : 1996
- Place : Singapore
- 2nd Conference :
- Year :1998
- Place : Geneva
- 3rd Conference :
- Year : 1999
- Place : Seattle (USA)
- 4th Conference :
- Year : 2001
- Place : Doha (Quatar)
- 5th Conference :
- Year : 2003
- Place : Cancun (Mexico)
- 6th Conference :
- Year : 2005
- Place : Hong Kong
- 7th Conference :
- Year : 2009
- Place : Geneva
- 8th Conference :
- Year : 2011
- Place : Geneva
- 9th Conference :
- Year : 2013
- Place : Bali (Indonesia)
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