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WTO

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World Trade Organization (WTO)

International organization based in Geneva that supervises world trade. It was created in 1995 to replace the General Agreement on Tariffs and Trade (GATT). Like its predecessor, it aims to lower trade barriers and encourage multilateral trade. It monitors members' adherence to GATT agreements and negotiates and implements new agreements. Critics of the WTO, including many opponents of economic globalization, have charged that it undermines national sovereignty by promoting the interests of large multinational corporations and that the trade liberalization it encourages leads to environmental damage and declining living standards for low-skilled workers in developing countries. By the early 21st century, the WTO had more than 145 members.


WTO
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Moscow and its partners will join the WTO separately, Russia's chief trade negotiator said Friday, dropping an earlier pledge to enter the global body with two ex-Soviet neighbors.
In a letter to USTR Ron Kirk, the National Chicken Council, USA Poultry & Egg Export Council, National Turkey Federation, and the National Association of Manufacturers re-confirmed their strong support for USTR action that would result in a WTO dispute settlement panel that addresses the EU's blocking action against four antimicrobials that reduce pathogens during poultry processing.
Some of the main players may use the ongoing meeting to try to make progress on some of the thorniest issues in the talks, launched in late 2001 by WTO members to boost the world economy and help poor countries grow through trade.
 
 
 
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