ROLE OF WTO IN FACILITATING FREE TRADE

AMONG NATIONS

Presented by
Arun kumar -04
Sagar kumar vishal -11
Amil sameer singh -27
Amit kumar singh -43
Atirek -45
Arihant jain -31

WTO - INTRO
The World Trade Organization (WTO) is
an organization that intends to supervise
and liberalize international trade
The organization officially commenced on 1 January 1995
under the Marrakech Agreement, signed by 123 nations on 15
April 1994, replacing the General Agreement on Tariffs and
Trade (GATT), which commenced in 1948.

FUNCTION OF WTO
The role of WTO in international trade is as stipulated in the Agreement
establishing it (Article III of the Agreement establishing WTO) and
includes:

1. Facilitating the implementation, administration and operation and furthering the

objectives of the agreement establishing it and other Multilateral Trade
Agreements and providing the framework for the implementation,
administration and operation of the Plurality Trade Agreements. (Article III of
the Agreement establishing WTO)

2. Providing the forum for negotiations among its Members concerning their
multilateral trade relations in matters dealt with under the agreements in the
Annexes to the Agreement setting it up and for the results of such negotiations as
may be decided by the Ministerial Conference. (Article III of the Agreement
establishing WTO)

CONTD.
3. Administering the Understanding on Rules and Procedures Governing the
Settlement of Disputes or the Dispute Settlement Understanding which is
Annex 2 to the agreement setting it up. (Article III of the Agreement
establishing WTO)
4. Administering the Trade Policy Review Mechanism in Annex 3 of the
agreement setting it up. (Article III of the Agreement establishing WTO)
5. Cooperating as appropriate with the International Monetary Fund and the
International Bank for Reconstruction and Development [a.k.a. the World
Bank] with a view to achieving greater coherence in global economic policy
making. (Article III of the Agreement establishing WTO)

Role and Functions of WTO in Free

International Trade
The protectionism which emerged in international
trade after the Second World War gave way to gradual
liberalization, comprising both unilateral liberalization
and rules-based multilateral liberalization.
Globalization is the result of free or less restricted trading
in goods, services, technology, and capital among various
countries. However there are various confronting issues
that restrict the growth of international trade, they are trade
barriers, financial assistance, piracy and more specifically
violation of intellectual property rights.