WTO (World Trade Organization)

World Trade Organization (WTO)

World Trade Organization known as WTO is a specialized organization of United Nations. The foundation of WTO was developed in 8th GATT (General Agreement on Trade and Tariffs) in Uruguay in 1994. WTO is an international level organization established to manage, regulate and facilitate the global trade by maintaining trade discipline among member nations. It was established on 1st January 1995. It aims to develop trade rules, extend trade and solve trade problems among member countries. It works to maintain a fair and healthy competition among the member nations in their trade activities.The WTO has 164 members accounting for over 97% of world trade. Nepal got its membership in 23rd April, 2004 as 147th member. The head quarter of WTO is in Geneva, Switzerland.

World trade organization is an international organization dealing with the global rules of trade between nations that aims at integrating the world economy by cutting down the barriers in trade and investment. 

What are the functions of WTO?

Ans: The following are the functions of World Trade Organization;
a) To act as a management consultant for international trade.
b) To maintain trade related database.
c) To solve the trade dispute between different countries.
d) Review national trade policies of the member countries.
e) Provide technical assistance and training for developing countries.
f) To administrate and implement the trade agreement.

Important questions on WTO:

 a) Write the full form of WTO.

Ans: The full form of WTO is World Trade Organization.

b) When was WTO established?

Ans: WTO was established on 1st January, 1995.

c) When did Nepal get membership of WTO?

Ans: Nepal got its membership in 23rd April, 2004 as 147th member.

Member List:

The following 164 countries are the members of WTO since 29th July 2016

Afghanistan — 29 July 2016
Albania — 8 September 2000
Angola — 23 November 1996
Antigua and Barbuda — 1 January 1995
Argentina — 1 January 1995
Armenia — 5 February 2003
Australia — 1 January 1995
Austria — 1 January 1995
Bahrain, Kingdom of — 1 January 1995
Bangladesh — 1 January 1995
Barbados — 1 January 1995
Belgium — 1 January 1995
Belize — 1 January 1995
Benin — 22 February 1996
Bolivia, Plurinational State of — 12 September 1995
Botswana — 31 May 1995
Brazil — 1 January 1995
Brunei Darussalam — 1 January 1995
Bulgaria — 1 December 1996
Burkina Faso — 3 June 1995
Burundi — 23 July 1995
Cabo Verde — 23 July 2008
Cambodia — 13 October 2004
Cameroon — 13 December 1995
Canada — 1 January 1995
Central African Republic — 31 May 1995
Chad — 19 October 1996
Chile — 1 January 1995
China — 11 December 2001
Colombia — 30 April 1995
Congo — 27 March 1997
Costa Rica — 1 January 1995
Côte d’Ivoire — 1 January 1995
Croatia — 30 November 2000
Cuba — 20 April 1995
Cyprus — 30 July 1995
Czech Republic — 1 January 1995
Democratic Republic of the Congo — 1 January 1997
Denmark — 1 January 1995
Djibouti — 31 May 1995
Dominica — 1 January 1995
Dominican Republic — 9 March 1995
Ecuador — 21 January 1996
Egypt — 30 June 1995
El Salvador — 7 May 1995
Estonia — 13 November 1999
European Union (formerly EC) — 1 January 1995
Fiji — 14 January 1996
Finland — 1 January 1995
France — 1 January 1995
Gabon — 1 January 1995
Gambia — 23 October 1996
Georgia — 14 June 2000
Germany — 1 January 1995
Ghana — 1 January 1995
Greece — 1 January 1995
Grenada — 22 February 1996
Guatemala — 21 July 1995
Guinea — 25 October 1995
Guinea-Bissau — 31 May 1995
Guyana — 1 January 1995
Haiti — 30 January 1996
Honduras — 1 January 1995
Hong Kong, China — 1 January 1995
Hungary — 1 January 1995
Iceland — 1 January 1995
India — 1 January 1995
Indonesia — 1 January 1995
Ireland — 1 January 1995
Israel — 21 April 1995
Italy — 1 January 1995
Jamaica — 9 March 1995
Japan — 1 January 1995
Jordan — 11 April 2000
Kazakhstan — 30 November 2015
Kenya — 1 January 1995
Korea, Republic of — 1 January 1995
Kuwait, the State of — 1 January 1995
Kyrgyz Republic — 20 December 1998
Lao People’s Democratic Republic — 2 February 2013
Latvia — 10 February 1999
Lesotho — 31 May 1995
Liberia — 14 July 2016
Liechtenstein — 1 September 1995
Lithuania — 31 May 2001
Luxembourg — 1 January 1995
Macao, China — 1 January 1995
Madagascar — 17 November 1995
Malawi — 31 May 1995
Malaysia — 1 January 1995
Maldives — 31 May 1995
Mali — 31 May 1995
Malta — 1 January 1995
Mauritania — 31 May 1995
Mauritius — 1 January 1995
Mexico — 1 January 1995
Moldova, Republic of — 26 July 2001
Mongolia — 29 January 1997
Montenegro — 29 April 2012
Morocco — 1 January 1995
Mozambique — 26 August 1995
Myanmar — 1 January 1995
Namibia — 1 January 1995
Nepal — 23 April 2004
Netherlands — 1 January 1995
New Zealand — 1 January 1995
Nicaragua — 3 September 1995
Niger — 13 December 1996
Nigeria — 1 January 1995
Norway — 1 January 1995
Oman — 9 November 2000
Pakistan — 1 January 1995
Panama — 6 September 1997
Papua New Guinea — 9 June 1996
Paraguay — 1 January 1995
Peru — 1 January 1995
Philippines — 1 January 1995
Poland — 1 July 1995
Portugal — 1 January 1995
Qatar — 13 January 1996
Romania — 1 January 1995
Russian Federation — 22 August 2012
Rwanda — 22 May 1996
Saint Kitts and Nevis — 21 February 1996
Saint Lucia — 1 January 1995
Saint Vincent and the Grenadines — 1 January 1995
Samoa — 10 May 2012
Saudi Arabia, Kingdom of — 11 December 2005
Senegal — 1 January 1995
Seychelles — 26 April 2015
Sierra Leone — 23 July 1995
Singapore — 1 January 1995
Slovak Republic — 1 January 1995
Slovenia — 30 July 1995
Solomon Islands — 26 July 1996
South Africa — 1 January 1995
Spain — 1 January 1995
Sri Lanka — 1 January 1995
Suriname — 1 January 1995
Swaziland — 1 January 1995
Sweden — 1 January 1995
Switzerland — 1 July 1995
Chinese Taipei — 1 January 2002
Tajikistan — 2 March 2013
Tanzania — 1 January 1995
Thailand — 1 January 1995
The former Yugoslav Republic of Macedonia — 4 April 2003
Togo — 31 May 1995
Tonga — 27 July 2007
Trinidad and Tobago — 1 March 1995
Tunisia — 29 March 1995
Turkey — 26 March 1995
Uganda — 1 January 1995
Ukraine — 16 May 2008
United Arab Emirates — 10 April 1996
United Kingdom — 1 January 1995
United States — 1 January 1995
Uruguay — 1 January 1995
Vanuatu — 24 August 2012
Venezuela, Bolivarian Republic of — 1 January 1995
Viet Nam — 11 January 2007
Yemen — 26 June 2014
Zambia — 1 January 1995
Zimbabwe — 5 March 1995