World Trade Organisation Agreement Pdf

The World Trade Organization (WTO) is committed to a rules-based international trading system. Despite the impasse in trade negotiations, opportunities to modernize WTO rules and address new global challenges are being studied. In accordance with the Treaty of Lisbon, Parliament, together with the Council, adopts legislation and plays an important supervisory role in international trade policy. The European Parliament is closely following the development of disputes involving the EU. Parliament`s Committee on International Trade sets out its views on trade disputes in reports, public hearings and oral questions to the Commission and the Council. This is the case, for example, with the Airbus-Boeing dispute between the EU and the US. > Go to a basic explanation of the agreements. > . Or a more technical list > abbreviations This conference provides a forum for parliamentarians from around the world to exchange opinions, information and experiences on international trade issues. Participants monitor the activities of the WTO; promoting the effectiveness and fairness of the WTO; advocating transparency in WTO procedures; Improve dialogue between governments, parliaments and civil society; influence the direction of discussions in the WTO; and capacity-building of national parliaments on international trade issues. One of the WTO`s major achievements has been the consolidation of its Dispute Settlement Body, which has the power to adjudicate trade disputes and implement its decisions. This dispute settlement mechanism operates on the basis of predefined rules that allow WTO Members to file complaints of alleged violations of WTO rules and to demand redress, regardless of their political or economic weight.

This mechanism has led to a reduction in the unilateral defence measures that countries have already resorted to and which have often provoked retaliatory measures on the part of the countries concerned, sometimes leading to full-fledged trade wars. In the early decades of the 20th century, trade issues led countries to increasingly complex interactions, requiring a platform to facilitate and regulate trade relations. The resulting General Agreement on Tariffs and Trade (GATT) of 1947 not only provided a round table that created a multilateral approach to trade, but also established a system of internationally recognized trade rules. The idea was to create a level playing field for all Members through the “significant reduction of tariffs and other barriers to trade and the elimination of discriminatory treatment in international trade”[1]. .