WTO!

At the 9th Ministerial Conference in Bali in 2013, WTO members struck the Agreement on Trade Facilitation, which aims to reduce border delays by slashing red tape it is estimated to reduce trade costs by ____________ USD a year

1 Trillion

The WTO began in

1995

Because of GATT and the WTO total exports increased by _________ times the amount in 1948

250

More than ______________% of WTO members are developing economies

75

The WTO represents ______ % of the worlds trade

98

Agricultural Trade and Developments were incorporated in 2001 with the __________________

Doha Development Agenda, launched at the fourth WTO Ministerial Conference in Doha, Qatar

The World Trade Organization (WTO) is the only global international organization dealing with the ______________

Rules of Trade between nations

The Aid for Trade Initiative is a WTO effort to increase the ___________________ of developing countries

Trade Capacity

The WTO was created by the _______________________. Its headquarters are located in Geneva, Switzerland.

Uruguay Round negotiations

The WTO in 2000 had rules on:

anti-dumping and subsidies, trade facilitation, transparency in government procurement, intellectual property and a range of issues raised by developing economies as difficulties they face in implementing WTO agreements.

WTO agreements are made by

negotiating and signing the rule by a large majority of the world's trading economies, and ratified in their parliaments.

The WTO operates a ________ where each member receives guarantees that its exports will be treated fairly and consistently in other members' markets. Each promises to do the same for imports into its own market. The system also gives developing economies some flexibility in implementing their commitments.

non-discriminatory trading system

WTO is the successor to _______________ established in the wake of the Second World War

the General Agreement on Tariffs and Trade (GATT)

The main function of the WTO is _________________________

to ensure that trade flows as smoothly, predictably and freely as possible