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'''The World Trade Organization''' ('''WTO''') is a coalition to supervise and liberalize international trade. Any dispute over trade between member countries is brought before the WTO and is solved through a series of negotiations. The organization is driven by its members, and all decisions are made by member governments.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref> The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.
The '''World Trade Organization''' ('''WTO''') is a coalition to supervise and liberalize international trade. Any dispute over trade between member countries is brought before the WTO and is solved through a series of negotiations. The organization is driven by its members, and all decisions are made by member governments.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref> The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.
==History==
==History==
* Proposals for the establishment of an International Trade Organization was forward by delegates from fifty-six countries in November, 1947 in Havana, Cuba.
* Proposals for the establishment of an International Trade Organization was forward by delegates from fifty-six countries in November, 1947 in Havana, Cuba.
* In 1982, a failed meeting of the GATT resulted in the preliminary foundation of a new trade organization; this was the beginning of the '''Uruguay Round'''. Thus, the GATT slowly built up its scope, and 7 years later it had effectively become the WTO. The process was slow, and the situation often quite bleak.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm WTO.org]</ref> During the early 1980s, the world powers did not find GATT’s principles as applicable to the realities as they used to find them in the 1940s.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>
* In 1982, a failed meeting of the GATT resulted in the preliminary foundation of a new trade organization; this was the beginning of the Uruguay Round. Thus, the GATT slowly built up its scope, and 7 years later it had effectively become the WTO. The process was slow, and the situation often quite bleak.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm WTO.org]</ref> During the early 1980s, the world powers did not find GATT’s principles as applicable to the realities as they used to find them in the 1940s.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>
* In 1986, the GATT members gradually accepted the negotiating program that enclosed almost all the outstanding issues of the trade policy.
* In 1986, the GATT members gradually accepted the negotiating program that enclosed almost all the outstanding issues of the trade policy.
In order to make sure that international trade takes place smoothly, the organization performs the function of dispute settlement as well. if any of the member companies experience problem while carrying out trade then they can bring the matter to the WTO without giving a second thought. The organization has appointed some experts who can carry out this task efficiently.<ref>[http://www.iisd.org/trade/handbook/3_2.htm iisd.org]</ref><ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/disp1_e.htm UNDERSTANDING THE WTO: SETTLING DISPUTES]</ref>
In order to make sure that international trade takes place smoothly, the organization performs the function of dispute settlement as well. if any of the member companies experience problem while carrying out trade then they can bring the matter to the WTO without giving a second thought. The organization has appointed some experts who can carry out this task efficiently.<ref>[http://www.iisd.org/trade/handbook/3_2.htm iisd.org]</ref><ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/disp1_e.htm UNDERSTANDING THE WTO: SETTLING DISPUTES]</ref>
==Reaching Out to People==
==Reaching Out==
The organization does not work by keeping itself isolated from other firms in the market; instead, the organization maintains contact with non-government organizations and media such that it can stay aware of happenings taking place in different parts of the world. Moreover, it helps the organization in fetching support whenever required.
The organization does not work by keeping itself isolated from other firms in the market; instead, the organization maintains contact with non-government organizations and media such that it can stay aware of happenings taking place in different parts of the world. Moreover, it helps the organization in fetching support whenever required.
[[Category: Organizations]]
[[Category: Organizations]]
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