World Trade Organization

A permanent international organization independent of the United Nations
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synonymWorld Trade Organization(WTO) Generally refers to the World Trade Organization (a permanent international organization independent of the United Nations)
World Trade Organization (World Trade Organization) The World Trade Organization (WTO) Is an independent of The United Nations permanence International organization . The WTO headquarters is located Switzerland Geneva incumbent General council The chairman is... Ngozi Okonjo-Iweala The ambassador. [1]
The WTO's function is to mediate disputes, and accession to the WTO does not constitute a multilateral agreement Trade agreement . It is the organizational and legal basis of the trading system, or many Trade agreement It is the regulator of the trade legislation of the member States, and provides a forum for dispute resolution and negotiation on trade.
The organization is the most important of our time International economic organization One among its members Volume of trade Accounts for the vast majority of the world, hence the name" Economic United Nations ".
The organization was established on 30 October 1947 General Agreement on Tariffs and Trade [2] ; On January 1, 1995, the World Trade Organization (WTO) came into operation. On January 1, 1996, the World Trade Organization officially replaced it General Agreement on Tariffs and Trade Temporary institutions; On December 11, 2001, China Formally joined the World Trade Organization; Wto General Council, 30 August 2003 Unanimous approval About the implementation of patented drugs Compulsory licensing system The final document.
As of February 2024, the WTO has 166 members, 23 of them Observer [23] [28] .
Chinese name
World Trade Organization
Foreign name
World Trade Organization
WTO
Abbreviated form
World Trade Organization
dominance
International organization
Number of members
166 members, 23 observers [23] [28]
Establishment time
January 1, 1995
Headquarters location
Switzerland Geneva
Official language
English, French, Spanish

Course history

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EDITOR
In July 1944, in The Bretton Woods Conference He proposed the idea of establishing the World Trade Organization.
In February 1946, United Nations Economic and Social Council The first meeting was held, and the meeting was called The United Nations Conference on Trade and Employment, drafting the Charter of the International Trade Organization, making a worldwide reduction tariff The negotiations. Subsequently, ECOSOC established a preparatory committee.
In 1947, the United Nations Conference on Trade and Employment signed the" Havana Charter He agreed to the creation of the World Trade Organization, which could not be established due to the opposition of the United States. In the same year, the United States initiated a draft General Agreement on Tariffs and Trade , as implementation Trade liberalization A temporary contract.
From 1947 to 1993, GATT hosted eight rounds of multilateral tariff and trade negotiations, with the eighth round held from 1986 to December 15, 1993 Geneva Hold, called" Uruguay Round ". The fifth round is called" Dillon round The sixth round is called" Kennedy round The seventh round is called" Tokyo round ".
1986 - General Agreement on Tariffs and Trade Uruguay Round negotiations After it starts,
In 1990, European Economic Community and Canada Respectively formally introduced the proposal for the establishment of the World Trade Organization.
On April 15, 1994, in Morocco the Marrakech City held by GATT Uruguay Round Council of ministers Decided to create a more global World Trade Organization instead General Agreement on Tariffs and Trade . [2]
On January 1, 1995, the World Trade Organization (WTO) was established.
On January 1, 1996, the World Trade Organization officially replaced the GATT Provisional Institutions, Kazakhstan Make an application to join the WTO.
On December 11, 2001, China Officially joined the World Trade Organization. [14]
China joined the WTO
On August 30, 2003, General Council of the World Trade Organization Unanimous approval About the implementation of patented drugs Compulsory licensing system The final document.
World Trade Organization, 7 November 2006 General council in Geneva Call a special meeting and accept Vietnam Become a member of the organization.
October 26, 2012, in Switzerland Geneva convened General council It was officially approved at the meeting Laos Become a member of it; On December 10 of the same year, the General Council of the World Trade Organization was held in Geneva, Switzerland Informal meeting Top pass Tajikistan Accession package to the World Trade Organization, approving Tajikistan's membership. [3]
On 2 March 2013, Tajikistan became a member of the World Trade Organization. On December 7 of the same year, the ninth Ministerial Conference of the World Trade Organization was held in Indonesia Bali The curtain came down and published the book Bali Ministerial Declaration " [4] . On December 4 of the same year, the Ninth Ministerial Conference of the World Trade Organization was held Indonesia Bali passed the agreement, ratified Yemen Join the World Trade Organization.
On April 26, 2015, Seychelles Ended 20 years of negotiations with World Trade Organization members on the terms of entry. [5] On July 27 of the same year, Presidents of Kazakhstan Nazarbayev vs Director-general of the World Trade Organization Azevedo co-signed the Protocol on Kazakhstan's Accession to the World Trade Organization (WTO) at the WTO General Council meeting in Geneva; On July 29 of the same year, Liberia and Afghanistan Become a member of the World Trade Organization.
December 11, 2019, due Appellate body of the World Trade Organization The Appellate body of the World Trade Organization's dispute settlement system has been officially suspended after more than 20 years of operation, with just one member, below the minimum number required for effective operation. [6]
On December 10, 2021, the World Trade Organization (WTO) and the Permanent Mission of China to the WTO co-hosted a high-level forum in Geneva on the 20th anniversary of China's accession to the WTO, reflecting China's accession Multilateral trading system Of great significance. [15]
On March 21, 2022, Russia Political party Just Russia Party councillor Russian State Duma (Council of the Russian Federation Lower house Submitted Russia's withdrawal from the World Trade Organization Draft law . [17]
March 24, 2022 ( Local time The World Trade Organization announced the suspension of the review Belarus An application to join the organization. [18]
February 26, 2024 ( Local time The 13th WTO Ministerial Conference was held in ABU Dhabi, capital of the United Arab Emirates. At the meeting that day, Comoros and East Timor Officially became a member of the WTO. [28]

Organizational structure

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Organizational purpose

Step 1: Improve Living standard To ensure full employment and substantial and steady growth Real income and Effective demand ;
Step 2 Expand Goods and services Production and trade;
3. Keep going The path to sustainable development Members shall promote the optimal use of the world's resources, the protection and preservation of the environment, and to comply with differences Level of economic development Under the way that members need to strengthen the adoption of various corresponding measures;
4. Actively work to ensure Developing country especially The least developed countries Gain a share and benefit from the growth of international trade commensurate with its level of economic development;
5. Establish integrated Multilateral trading system ;
Step 6 Pass substantiality Cutting tariffs and other measures to build an integrated, more dynamic and durable multilateral trading system;
7. Gradually reduce tariff and non-tariff barriers to trade among members and eliminate discriminatory treatment among members in international trade on the basis of openness, equality and reciprocity.
To deal with the relationship between trade and economic undertakings among the members of the Organization in order to raise the standard of living, ensure full employment, guarantee a substantial and sustained increase in real income and effective demand, and expand the full use of the world's resources and development Commodity production With exchange as the purpose, strive to achieve Mutual benefit The agreement significantly reduced tariffs and other barriers to trade and discriminatory treatment in political international trade.

Organizational goal

The goal of the WTO is to create a more dynamic and durable comprehensive body of goods, services, trade-related investment and intellectual property rights Multilateral trading system To include General Agreement on Tariffs and Trade Trade liberalization Results and Uruguay Round Multilateral trade negotiations All the results.
World Trade Organization logo

Basic principle

Reciprocity principle
Principle of reciprocity , also known as Principle of reciprocity It means that the two members give trade to each other in international trade Preferential treatment . It defines the basic positions that members must take in tariff and trade negotiations and what kind of trading relationship they must establish with each other.
The World Trade Organization's principle of reciprocity It is mainly reflected in the following forms:
First, by holding multilateral trade negotiations on tariffs or tariffs Non-tariff measures In order to obtain access to the markets of other members for their own products or services, the so-called "vote in favor of peaches" and "return the favor."
Second, when a country or region applies to join the WTO, since the new member can enjoy the preferential treatment of opening up the market that all the old members have reached in the past, the old members will unanimously require the new member to pay the "payment" in accordance with the provisions of the existing WTO agreements and agreements. Initial fee "-- Opening up applicant Goods or Service market .
Third, reciprocal trade is the main tool for achieving economic and trade cooperation with other members in the process of multilateral trade negotiations and trade liberalization of one member. The history of GATT and the World Trade Organization amply demonstrates that the benefits of multilateral trade liberalization to a member are far greater than the benefits of unilateral trade liberalization by a country itself. Because when a country unilaterally and independently decides to liberalize trade in goods with tariffs and non-tariff tariffs and open up the service market, the benefits it will get mainly depend on the reaction of other trading partners to such liberalizing reform. If the response is good, that is, reciprocal concessions will be granted, then the benefits will be greater. Otherwise, it is smaller.
On the contrary, under the WTO system, since a member's trade liberalization is carried out within the scope of obtaining market opening commitments from existing members, it is natural that the actual benefits brought by such trade liberalization reform are guaranteed by the WTO mechanism, rather than unilateral or unilateral Bilateral trade The benefits of liberalization are so uncertain. Therefore, multilateral trade liberalization is better than unilateral trade liberalization, especially for a large developing country like China.
Transparency principle
Transparency principle (Transparency) means that WTO members should publish the trade measures they have formulated and implemented and their changes, and measures that have not been published should not be implemented, and they should also notify the WTO of these trade measures and their changes. In addition, members participate in the relevant impact International trade policy the International agreement It shall also be promptly published and notified to the World Trade Organization.
Transparency principle It is an important principle of the World Trade Organization, and it is reflected in the main agreements and agreements of the World Trade Organization. According to this principle, WTO members are required to publish effective and current trade Policies and regulations There is:
(1) Customs regulations. That is, customs rules on product classification and valuation methods, customs vs Import and export goods assessed Tariff rate and Other expenses ;
(2) Relevant laws and regulations and administration of import and export management Rules and regulations ;
(3) levied on import and export commodities Internal tax , laws and regulations;
(4) Inspection of import and export commodities Quarantine laws and regulations;
(5) Related to import and export goods and their payment Foreign exchange control And general laws and regulations on foreign exchange control;
(6) Utilization of foreign capital Legislation and regulations;
(7) Relevant Intellectual property protection Laws and regulations;
(8) Relevant Export processing zone , Free trade zone Laws and regulations of border trade zones and special economic zones;
(9) Relevant Service trade Laws and regulations;
(10) Award provisions relating to arbitration;
(11) The relevant effects signed by member Governments and their agencies Trade policy Existing bilateral or multilateral agreements, agreements;
(12) other domestic legislation affecting trade practices or Administrative regulation .
The principle of transparency stipulates that the Members shall implement the above-mentioned laws, regulations, judgments and decisions in a fair, reasonable and uniform manner. Unity is required within the territory of the member Managed trade The relevant regulations should not be Differential treatment That is, the central government promulgating relevant policies and regulations in a unified manner, and the regulations on the above matters promulgated by local governments should not be related to Central government There is any conflict. But authorized by the central government Special administrative region With the exception of local governments. impartiality and rationality Requires members to comply with the implementation of regulations Principle of non-discrimination .
The principle of transparency also provides that, in view of customs Administrative act The need for inspection and correction requires that Members retain or establish, as soon as possible, judicial or arbitral or administrative institutions and procedures. Such tribunals or proceedings are independent of accountability Administrative implementation Outside of the agency. Except as permitted by the importer in the regulations Appeal period Other than appeals to higher courts or bodies, their decisions will be enforced by those bodies.
The principle of transparency plays a very important role in the realization of fair trade and competition.
Market access principle
World Trade Organization Market access principle (Market Access) is visible and growing, and it requires countries to open their markets for the purpose of planning, steps, and stages to achieve the maximum Trade liberalization . Market access The main contents of the principles include Tariff protection With concessions, cancellations Quantitative restriction And transparency principles. The World Trade Organization advocates the eventual elimination of everything Trade barrier Including tariffs and non-tariffs Tariff barrier Although tariff barriers are still a legitimate means of protection permitted by the World Trade Organization, the level of tariffs must be continuously reduced.
Promote the principle of fair competition
The World Trade Organization doesn't allow it Contracting state Using unfair trade practices Unfair competition In particular, the export of commodities in the form of dumping and subsidies is prohibited, dumping and subsidies have made clear provisions, and specific and detailed implementation measures have been formulated, and the World Trade Organization advocates fair trade means for fair competition.
Principle of economic development
Also known as the principle of encouraging economic development and economic reform, the principle aims to help and promote the rapid economic development of developing countries Developing country For example, the "government assistance for economic development" clause, which allows developing countries to impose quantitative restrictions on imports or raise tariffs within a certain range, is only required Developed country The "trade and development clause", which unilaterally assumes obligations and entitles developing countries to certain specific preferences without compensation, and establishes that developed countries grant to developing countries and developing countries Transition country A longer transition period and GSP treatment The legitimacy of...
Principle of non-discrimination
This principle includes two aspects: one is Most-favored-nation treatment And the other one is National treatment .
Members generally cannot discriminate between trading partners; A preference granted to one member shall also be granted to the other members. This is most-favored-nation treatment. This principle is very important in management Trade in goods Article I of the General Agreement on Tariffs and Trade (GATT) General Agreement on Trade in Services It is Article 2 in the TRIPS Agreement and Article 4 in the TRIPS Agreement. Thus, MFN treatment applies to all three WTO trade areas.
National treatment means that foreign goods, services and intellectual property should be treated the same as local goods. The fundamental purpose of most-favored-nation treatment is to guarantee other than one's own country Contracting party Be able to compete fairly with other companies on equal terms in their own market.
Principle of non-discrimination Is the cornerstone of the World Trade Organization, is to avoid Trade discrimination An important means of friction and friction is an important guarantee to achieve equal trade between countries.
1. Principle of most-favored-nation treatment The preferential treatment accorded by a Member to any other country in the field of trade in goods, trade in services and intellectual property rights shall be granted immediately and unconditionally to other Members.
Key points:
a. Automaticity: immediate and unconditional;
b. Identity: the object of benefit must be the same;
(c) Reciprocity: both beneficiary and beneficiary, bearing obligations and enjoying rights;
(d) Universality: applicable to all import and export products, trade in services and all sectors and all types of intellectual property rights owner and holder .
Exceptions:
A. to Customs union and Free trade zone And so on Regional economy (b) To arrange for non-regional WTO members not to be entitled to benefits more favourable than most-favoured-nation treatment that are applied within those regions;
B. Special and differential treatment for developing members, such as Generalized system of preferences ;
C. in Border trade China provides more trade facilitation to neighboring countries;
D. To allow members to act in the field of intellectual property General judicial assistance Exceptions are reserved, inter alia, for rights enjoyed in international agreements.
2. Principle of national treatment : Products, services and other members Service provider And the treatment provided by the owners and holders of intellectual property rights shall be no less favourable than that provided by their own countries Similar product Services and service providers and owners and holders of intellectual property rights.
Key points:
(a) apply to providers of products, services and services and to owners and holders of intellectual property rights, but the scope of application, specific rules and importance of national treatment provisions vary depending on the specific beneficiaries in these areas;
b) treatment in the territory of the importing Member relating only to products, services and service providers of other Members and owners and holders of intellectual property rights;
(c) The meaning of the term "no less than" in the definition means that products, services and service providers of other Members and owners and holders of intellectual property rights shall enjoy the same treatment as those of similar products, providers of the same services and services and owners and holders of intellectual property rights of importing Members, and that it is not contrary to the principle of national treatment if the importing Member gives the former higher treatment.

Main function

Basic function
1. Develop the multilateral and plurilateral mechanisms for monitoring, regulation and enforcement that together make up the WTO Trade agreement ;
2. As a forum for multilateral trade negotiations;
3. Seek settlement of trade disputes;
4. To oversee the trade policies of member States and to work with others to formulate global trade policies Economic policy Relevant international agencies cooperate.
The goal of the World Trade Organization is to establish a comprehensive and more dynamic peace permanence The multilateral trading system. In contrast to the GATT, the scope of WTO jurisdiction includes, in addition to the traditional and Uruguay Round trade in goods, intellectual property rights, investment measures and non-goods trade (trade in services), which have long been outside the GATT. The WTO has the status of legal person, and it has higher authority and authority in the mediation of disputes among its members effectiveness .
Five functions
Management function The WTO is responsible for the supervision and management of the trade policies and regulations of its members, and regularly reviews them to ensure their legality.
Organizational function : For the realization of agreements and agreements Established goal The WTO has the power to organize the implementation of all trade agreements and agreements under its jurisdiction and to actively take effective measures.
Coordinating function : The World Trade Organization coordinates its relationship with The International Monetary Fund and World Bank Relationships with international organizations and institutions to safeguard the globe Economic decision Consistency and Cohesive force .
Mediation function: When disputes and conflicts arise among members, the WTO is responsible for resolving them.
Provision function: The WTO provides a negotiating venue for its members to deal with agreements and matters related to agreements and to provide the necessary resources to developing countries Technical assistance To help it develop.
Fundamental right
(1) to enable the unconditional, multilateral, permanent and stable enjoyment of goods and services and intellectual property rights among the 150 members Most-favored-nation treatment And national treatment;
(2) For most Developed country Exports of industrial goods and Semi-finished product Be subject to GSP treatment;
(3) Enjoyment Developing country Most preferential or transitional arrangements for members;
(4) Enjoy the opening or expansion of goods by other WTO members, Service market Benefits of access;
(5) Using the World Trade Organization Dispute settlement mechanism Fair, objective and reasonable settlement of economic and trade frictions with other countries to create a good environment for economic and trade development;
(6) Participate Multilateral trading system The activities of obtaining international economic and trade rules Decision-making power ;
(7) Enjoy the right of WTO members to use rules, exceptions and guarantee measures to promote their economic and trade development.
Basic obligation
(1) To grant most-favored-nation treatment and national treatment to other members in respect of goods, services, intellectual property, etc. in accordance with the provisions of the World Trade Organization;
(2) Expand market access for goods and services in accordance with relevant WTO agreements, that is, specifically require the reduction of tariffs and regulations Non-tariff measures Gradually expand the opening of the service trade market;
(3) According to the Intellectual property agreement Further regulate the protection of intellectual property rights;
(4) to settle the dispute fairly with other members in accordance with the dispute settlement mechanism Trade friction We should not engage in unilateral retaliation.
(5) Increase the transparency of trade policies and regulations;
(6) regulating measures for foreign investment in trade in goods;
(7) Pay a certain contribution in proportion to its share of world exports.

Mechanism setup

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Conference mechanism

Ministerial conference
The highest authority in the WTO. Ministers, vice-ministers or other officials responsible for foreign trade and economic cooperation of all members plenipotentiary Compose of, Council of ministers Held at least once every two years, the Council of Ministers has a wide range of powers, including: legislative powers; quasi Judicial power ; Exempting a member from his obligations in a particular case; Approval of requests by non-WTO members for access to the WTO Observer Request for eligibility application.

Permanent establishment

General council
When the Council of Ministers is not in session, the General Council, composed of representatives of all the members, acts as the Council of Ministers. The General Council shall meet from time to time as the situation requires and shall draw up its own rules of procedure and agenda. To convene meetings from time to time to fulfil its mandate to settle trade disputes and to review the trade policies of members.
The General Council consists of the Council on Trade in Goods, the Council on Trade in Services and the Council on Intellectual Property Rights. These Councils may, as appropriate, draw up their own rules of procedure, which shall be implemented with the approval of the General Council. All members may participate in each Council.
World Trade Organization headquarters
Special committee
Special Committees are established under the Council of Ministers to deal with specific trade and other related matters.
Established:
1. Trade and Development committee ;
2. Balance of payments Limitation Committee;
3. Budget, finance and Administrative committee ;
4. More than 10 specialized committees, including the Committee on Trade and Environment.
Chart of the organization of the World Trade Organization
Secretariat and Director GENERAL
Secretariat and the Director-General: The staff of the Secretariat are appointed by the Director-General and their duties and conditions of service are determined by rules adopted by the Council of Ministers.
The Council of Ministers defines the powers, duties, conditions of service and terms of office of the Director General.
Director-general of the World Trade Organization Main responsibilities are as follows:
1. He may exert maximum influence on members to require them to comply with the rules of the World Trade Organization;
(b) The Director-General shall consider and foresee the best course for the development of the World Trade Organization;
3. To assist members in resolving disputes arising between them; 4. Responsible for the work of the Secretariat, managing the budget and all members concerned Administrative affairs ;
5. Conduct negotiations and negotiations Informal negotiation Avoid controversy.

Organization member

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As of February 2024, the WTO has 166 members. [30]
Wto membership is divided into four categories: developed members, developing members and transition members economy Member and least developed Member. [23]
Any country or customs territory with full autonomy in trade policy is eligible to join the WTO as a member. [7]
Adoption of China's entry into WTO

Member

Organizational development process
A given year
Join a member
The year 1995
NZ
The year 1996
The year 1997
The year 1998
The year 1999
The year 2000
The year 2001
The year 2002
The year 2003
The year 2004
The year 2005
The year 2006
The year 2007
The year 2008
The year 2012
The year 2013
The year 2015
2024
Member Information: [23] [27-28]

Observer

Treaty regulation

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Treaty agreement

" Bali Ministerial Declaration "" Singapore Ministerial Declaration Singapore Declaration, Ministerial Statement, Ministerial Declaration, Seoul Declaration on Information Infrastructure in the Asia Pacific Joint declaration "" Bogor Declaration Osaka Agenda for Action, Gold Coast Declaration, Cancun Declaration and Plan of Action [8] " Joint Statement on Investment facilitation " [16] " Fishery subsidy agreement " [21]

Regulations and rules

Mutual Recognition Arrangement (MRA) [8] ," General Agreement on Tariffs and Trade "," General Agreement on Trade in Services The Agreement on Trade-Related Aspects of Intellectual Property Rights, the Agreement on Trade-Related Aspects of Intellectual Property Rights Intellectual property agreement "," The Marrakesh Agreement establishing the World Trade Organization Multilateral Agreement on Trade in Goods, Multilateral Agreement on Trade in Goods General Agreement on Trade in Services "," Agreement on Trade-Related Aspects of Intellectual Property Rights "," Understanding on dispute settlement rules and procedures "," Trade policy review mechanism "," The Marrakesh Agreement establishing the World Trade Organization Understanding on the Rules and Procedures for Dispute Settlement of the World Trade Organization

Management collective

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Director-general of the World Trade Organization
Term of office
name
nationality
1 January 1995-1 May 1995
May 1, 1995 - September 1, 1999
September 1, 1999 - September 1, 2002
NZ
September 1, 2002 - September 1, 2005
September 1, 2005 - September 1, 2013
France [9]
September 1, 2013 - August 31, 2020
Brazil [10]
March 1, 2021 - August 31, 2025
Nigeria [13]

Cultural tradition

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Image logo

On October 9, 1997, the WTO adopted a new logo. The logo consists of six upward curved arcs, the top three and the bottom three are red, blue and green respectively. The logo means that a dynamic WTO has a key role to play in the sustained and orderly expansion of world trade. The spherical shape of the six arcs indicates that the WTO is an international body composed of different members.
The logo looks dynamic for a long time, symbolizing the vitality of the World Trade Organization. The designer of the logo is Singapore Of Yang Shu, her design was adopted Chinese traditional calligraphy The stroke, six arcs with Brush calligraphy The rhythm of starting and ending a pen. [11]
World Trade Organization logo

Organizational language

World Trade Organization Official language for English , French and Spanish The texts in these three languages are official texts that have Legal effect The Chinese version is for reference only and has no legal effect;
The significance of the inclusion of English, French and Spanish texts is that when disputes arise with WTO members, the provisions in these texts can be directly invoked and applied, and have formal legal effect;
The Chinese translation of China's WTO accession legal documents is included, so that readers who are not accustomed to reading foreign languages can learn and master the WTO rules.

Evaluation significance

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EDITOR
Maintaining the World Trade Organization at its core Multilateral trading system For promoting international trade and the world Economic stability Development is of great significance. World Trade Organization to resolve Global trade Disputes create new mechanisms and procedures, including Settings Dispute settlement mechanism And its appellate body, established with international law Enforcement effect The ruling mechanism is therefore called the international organization with "teeth" [12] . ( China news network Evaluation of )

Related news

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EDITOR
On February 22, 2017, Rwanda , Oman , Chad and Jordan Four other WTO members have submitted documents of ratification of the Trade Facilitation Agreement to the WTO. Thus, approved Trade Facilitation Agreement The number of WTO members has reached 112, exceeding the statutory threshold of two-thirds of the total number of WTO members required for the Agreement to enter into force, and the Agreement will enter into force and be formally implemented for those members that have ratified the Agreement. [26]
June 2022, according to Reuters Geneva The WTO will hold its first ministerial meeting in more than four years from June 12 to 15 in Geneva. [19]
On October 6-7, 2022, the WTO General Council held its fourth meeting in 2022, during which discussions were held on WTO reform, the work plan for e-commerce, the implementation of the outcomes of the Ministerial Conference, and the work plan for small economies. [25]
On February 23, 2023, the World Trade Organization released a report saying that the preliminary estimate is 2022 Global trade Growth range Will be higher than the 3 per cent forecast by the organisation last April, with global trade showing resilience and performing better than expected. [20]
On July 6, 2023, at the ambassadorial level meeting of the WTO Negotiations on Investment Facilitation, Joint Coordinator of the negotiations Chile Ambassador Bosa and Park Jung-sung, Deputy Representative of the Republic of Korea to the WTO, issued a statement announcing that Investment facilitation agreement Negotiations on the text were successfully concluded. [22]
On August 21, 2023, Hong Kong, China Having submitted the Fisheries Subsidies Agreement (Agreement) to the World Trade Organization (WTO) Enter the paperwork. [24]