WTO
The World Trade Organization (WTO) plays a crucial role in shaping global trade policies and addressing various challenges. 1. WTO Establishment and Purpose: - The WTO was established on January 1, 1995, as a successor to the General Agreement on Tariffs and Trade (GATT), which originated in 1948. - The Uruguay Round (1986–94) of the GATT led to the creation of the WTO. - The "Marrakesh Agreement," signed in 1994, formally established the WTO. - The organization's headquarters are in Geneva, Switzerland. - The WTO plays a crucial role in regulating and promoting global trade, overseeing areas such as goods, services, foreign investment, and intellectual property rights. 2. Principles of the WTO: - Non-Discrimination: - The "Most Favored Nation" treatment ensures equal treatment for like products regardless of their origin. - The "National Treatment" principle requires treating foreign-made products similarly to domestic ones. - F…
