World Trade Organization

:For other uses of the initials WTO, see WTO (disambiguation).

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The World Trade Organization (WTO) is an international organization which oversees a large number of agreements defining the "rules of trade" between its member states (WTO, 2004a). The WTO is the successor to the General Agreement on Tariffs and Trade, and operates with the broad goal of reducing or abolishing international trade barriers.

Related Topics:
International organization - State - General Agreement on Tariffs and Trade - Trade barrier

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WTO headquarters are located in Geneva, Switzerland. On May 13 2005, Pascal Lamy was elected the Director-General. He took over from Supachai Panitchpakdi on September 1, 2005. As of August 19, 2005, there are 148 members in the organization (WTO, 2004a). All WTO members are required to grant one another most favoured nation status, such that (with some exceptions) trade concessions granted by a WTO member to another country must be granted to all WTO members (WTO, 2004c).

Related Topics:
Geneva - Switzerland - May 13 - 2005 - Pascal Lamy - Director-General - Supachai Panitchpakdi - September 1 - August 19 - Organization - Most favoured nation

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In the late 1990s, the WTO became a major target of protests by the anti-globalization movement. See critique.

Related Topics:
1990s - Protests - Anti-globalization movement - Critique

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