World Trade Organization
| Organisation mondiale du commerce (in French) Organización Mundial del Comercio (in Spanish) | |
Members Members, dually represented by the European Union (EU) Observers Non-participant states
Not applicable | |
| Abbreviation | WTO |
|---|---|
| Formation | 1 January 1995 |
| Type | Intergovernmental organization |
| Purpose | Reduction of tariffs and other barriers to trade |
| Headquarters | Centre William Rappard, Geneva, Switzerland |
| Coordinates | 46°13′27″N 06°08′58″E / 46.22417°N 6.14944°E |
Region served | Worldwide |
| Membership | 166 members (162 UN member states, the European Union, Hong Kong, Macao, and Taiwan)[1] |
Official languages | English, French, Spanish[2] |
| Ngozi Okonjo-Iweala[3] (since 2021) | |
| Budget | CHF 204,928,900 (2024)[4] |
| Staff | approx. 630 (as of December 31, 2024)[5] |
| Website | wto |
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.[6][7][8] 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.[9] Its agreements, which are negotiated and signed by the majority of the world's trading nations and ratified in their parliaments,[10] 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.[9]
The WTO's highest decision-making body is the Ministerial Conference, which convenes biennially and makes decisions by consensus.[11] Day-to-day business is managed by the General Council, composed of representatives from all member states.[12] The organization is administered by a Secretariat led by the Director-General; since 2021, this position has been held by Ngozi Okonjo-Iweala of Nigeria. The WTO's annual budget is approximately 200 million USD, contributed by members based on their share of international trade.[13]
Economic studies generally find that the WTO has boosted trade and reduced trade barriers.[14][15][16] However, it has faced significant criticism. Critics argue that the benefits of WTO-facilitated free trade are not shared equally, that its agreements may disadvantage developing countries, and that commercial interests have been prioritised over environmental and labour concerns.[17][18] The organization has also been central to major trade disputes and stalled negotiations, such as the Doha Development Round and the paralysis of its Appellate Body, which have raised questions about its future efficacy.
- ^ Members and Observers Archived 10 September 2011 at the Wayback Machine at WTO official website
- ^ Languages, Documentation and Information Management Division Archived 24 December 2011 at the Wayback Machine at WTO official site
- ^ "Nigeria's Ngozi Okonjo-Iweala confirmed as WTO chief". the Guardian. 15 February 2021. Archived from the original on 1 March 2021. Retrieved 1 March 2021.
- ^ "WTO Annual Report 2024" (PDF). www.wto.org. p. 199. Retrieved 22 May 2025.
- ^ "WTO Annual Report 2024" (PDF). www.wto.org. p. 196. Retrieved 21 May 2025.
- ^ Krueger, Anne O. "International Economic Organizations, Developing Country Reforms, and Trade". The Reporter. NBER. Archived from the original on 18 May 2017. Retrieved 20 May 2017.
- ^ "Understanding the WTO – The GATT years: from Havana to Marrakesh". WTO. Archived from the original on 5 March 2018. Retrieved 28 March 2019.
- ^ "Members and Observers". World Trade Organization. 24 August 2012. Archived from the original on 10 September 2011. Retrieved 10 September 2011.
- ^ a b "U.S. Trade Policy: Going it Alone vs. Abiding by the WTO". Econofact. 15 June 2018. Archived from the original on 30 June 2018. Retrieved 30 June 2018.
- ^ Malanczuk, P. (1999). "International Organisations and Space Law: World Trade Organization". Encyclopædia Britannica. Vol. 442. p. 305. Bibcode:1999ESASP.442..305M.
- ^ "WTO | Ministerial conferences". www.wto.org. Archived from the original on 6 March 2021. Retrieved 18 February 2021.
- ^ "WTO | Understanding the WTO – Whose WTO is it anyway?". www.wto.org. Archived from the original on 4 July 2021. Retrieved 18 February 2021.
- ^ "WTO Annual Report 2024" (PDF). www.wto.org. p. 199. Retrieved 22 May 2025.
- ^ Goldstein, Judith L.; Rivers, Douglas; Tomz, Michael (2007). "Institutions in International Relations: Understanding the Effects of the GATT and the WTO on World Trade". International Organization. 61 (1): 37–67. doi:10.1017/S0020818307070014. ISSN 1531-5088.
- ^ Tomz, Michael; Goldstein, Judith L; Rivers, Douglas (2007). "Do We Really Know That the WTO Increases Trade? Comment". American Economic Review. 97 (5): 2005–2018. doi:10.1257/aer.97.5.2005. ISSN 0002-8282.
- ^ Silva, Peri Agostinho; Nicita, Alessandro; Olarreaga, Marcelo (2018). "Cooperation in WTO's Tariff Waters?" (PDF). Journal of Political Economy. 126 (3): 1302–1338. doi:10.1086/697085. ISSN 0022-3808. S2CID 152401600. Archived (PDF) from the original on 29 April 2019.
- ^ Joseph, Sarah; Joseph, Sarah Louise (2011). Blame it on the WTO?: A Human Rights Critique. OUP Oxford. pp. 164–167. ISBN 978-0-19-956589-4. Archived from the original on 14 February 2024. Retrieved 23 August 2020.
- ^ Wilkinson, Rorden (2014). What's wrong with the WTO and how to fix it. Cambridge, UK: Polity. ISBN 978-0-745-67245-8. Archived from the original on 16 April 2021. Retrieved 12 September 2020.