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World Trade Organization

Overview

The World Trade Organization (WTO) -- based in Geneva, Switzerland -- seeks to breakdown barriers to trade and promote worldwide economic prosperity.

Background

Part of the most recent iteration of the post-World War II world economic order, tthe WTO was created in 1995 to replace the aged General Agreement on Tariffs and Trade (GATT).

A belief that a "rising tide lifts every boat" is a common way of referring to the concept that more trade, and hence worldwide economic prosperity, is good for everyone -- both countries that are poor and already prosperous nations -- and is a central ideal to the WTO mission. However, concerns tied to globalization and the creation of winners and losers through freer trade, in addition to domestic changes thanks to industries shifting across boundaries, is the greatest challenge to the WTO's premise.

"By lowering trade barriers, the WTO’s system also breaks down other barriers between peoples and nations," according to WTO.org. The WTO seeks after not only a more prosperous world, but a more accountable and peaceful world. Indeed, economic integration through free trade is arguably one of the greatest deterrents to war in the modern era. In accomplishing its mission, it works in conjunction with other international organizations, including the United Nations, International Monetary Fund, and World Bank.

The WTO functions within the multilateral trading system, meaning agreements are determined between, and for the benefit of, many nations and not just bilaterally, or between two nations. Multilateral agreements work toward that rising tide for all boats, or in this case all 150 WTO members -- the majority of which are countries, but because they involve so many players each round can take a long time to negotiate. Each agreement round takes years to conduct. If a round concludes successfully, the agreements must still be approved by each member country's domestic government.

Ministerial Conference

The WTO is governed by the Ministerial Conference, which meets about every two years, is composed of representatives from each member, and can decide on any aspect of the multilateral agreements.

General Council

The General Council is based in Geneva, Switzerland and runs the daily operation of the WTO, particularly the implementation of multilateral agreements.

Other councils and committees

A variety of other councils and committees are involved in helping create and implement agreements.

Links/Contact

- WTO Website
- WTO Organization Chart
- WTO and the United States

- Contact the US Department of State
- Find and contact your representative

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