Origin of WTO: The creation of the WTO was the result of a series of negotiations that began in 1986, known as the Uruguay Round of trade negotiations. The negotiations were aimed at expanding the scope of the GATT to cover areas such as intellectual property, services trade, and agricultural subsidies. The negotiations concluded in 1994 with the signing of the Marrakesh Agreement, which established the WTO.
Mandate of WTO: The mandate of the WTO is to promote free and fair trade among its member countries, with the ultimate goal of raising living standards and promoting economic growth. The WTO seeks to achieve this by providing a forum for member countries to negotiate and implement trade agreements, resolving disputes related to trade, and providing technical assistance and training to help developing countries participate more effectively in the global trading system.
Membership of WTO: The WTO has 164 member countries as of 2021, representing over 98% of global trade. Membership is open to any country that is willing to abide by the rules and principles of the WTO, and that has applied for membership and been approved by the WTO General Council.
Institutional structure of the WTO: The WTO is composed of several bodies, including the Ministerial Conference, the General Council, and several committees and working groups. The highest decision-making body of the WTO is the Ministerial Conference, which meets at least once every two years to discuss and make decisions related to the organization’s work. The General Council is responsible for implementing the decisions of the Ministerial Conference and overseeing the work of the various committees and working groups.
Decision Making in WTO: Decision making in the WTO is based on the principle of consensus, which means that all member countries must agree to any decision before it can be adopted. In practice, this means that negotiations can be complex and time-consuming, as member countries may have different views and priorities. The WTO also has a dispute settlement system, which provides a mechanism for resolving disputes related to trade among member countries.