According to its own website, the purpose of the World Trade Organization, WTO, is to monitor WTO trade agreements, facilitate trade negotiations, mediate trade disputes, monitor international trade policies and provide assistance to developing economies. The majority of the world's trading nations are WTO members, and each member nation sends representatives to periodic WTO meetings to negotiate on its behalf.Know More
Established in 1995, the WTO is headquartered in Geneva, Switzerland. The organization was born out of a set of negotiations, known as the Uruguay Round, held between most of the world's economies. The WTO describes itself as a proponent of free-flowing and reliable trade between nations but also introduces certain barriers to trade if they are required to protect consumers or inhibit the spread of disease.
Trade agreements are the main tool that the WTO uses to further global trade. These agreements regulate the trade of goods, services and intellectual property. Trade agreements spell out general policies for trade between members, and the WTO states that each agreement also contains a lengthy list of special commitments that exist between one member nation and another. The procedure for dispute resolution is another important component of trade agreements. Trade agreements are designed with the input of member nations and voted upon by members. More than 60 trade agreements have passed since the organization's inception, and they are periodically reviewed and revised.Learn more about International Orgs
The purpose of World Environment Day slogans is to inspire the global community to take action to protect the environment by calling attention to the theme of the year. Every year, the United Nations Environment Program chooses a different aspect of environment protection to emphasize on World Environment Day.Full Answer >
The President of the United States has the power to make treaties with foreign countries, but only with the advice and consent of the Senate. Under the U.S. Constitution, two-thirds of the Senate must consent to a treaty.Full Answer >
The Concert of Europe was formed to maintain a balance of power and preserve the political and territorial integrity of European nations after the end of the Napoleonic Wars. Founding members included the United Kingdom, Russia, Austria and Prussia. Later, France was also allowed to join.Full Answer >
The General Agreements on Tariffs and Trade, or GATT, was put into place shortly after World War II and featured rules that sought to reduce tariffs and remove trade barriers so that 153 countries could benefit from better trade. In contrast, the World Trade Organization, or WTO, was put into place in 1995 as a replacement to GATT, and it further broke down trade barriers and help settle disputes about trade policies.Full Answer >