World Trade Organization (WTO) (born World Trade Organization (WTO), fr. Organisation mondiale du commerce (OMC)) - an international organization created in 1995 to liberalize international trade and regulation of trade and political relations between member states. WTO is the successor of the General Agreement on Tariffs and Trade (GATT), concluded in 1947 and for nearly 50 years has actually been serving as an international organization.
The WTO is responsible for developing and implementing new trade agreements, and monitors compliance with members of all the agreements signed by most countries and ratified by their parliaments. WTO conducts its activities on the basis of decisions adopted between 1986-1994 in the Uruguay Round and earlier GATT agreements. Discussions of problems and making decisions on global problems and prospects for further liberalization of world trade held in the framework of multilateral trade negotiations (rounds). To date, 8 rounds of such talks, including Uruguay, and in 2001 started the ninth in Doha, Qatar.
WTO headquarters located in Geneva, Switzerland.
The head of the WTO (CEO) - Pascal Lamy.
In July 2008 the WTO consisted of 153 countries. Each of them is obliged to provide other members of most favored nation trade.
WTO rules do provide some benefits for developing countries. Currently, developing countries - WTO members are (on average) higher relative level of customs and tariff protection of their markets compared with developed countries. Nevertheless, in absolute terms, the total amount of customs-tariff sanctions in the developed countries is much higher, resulting in access to markets vysokoperedelnoy products from developing countries is severely restricted.
WTO rules regulate only the trade and economic issues. Attempts by the United States and some European countries to start a discussion about working conditions (which would suggest a lack of legal protection to workers as "illegitimate" competitive advantage) were rejected because of protests from developing countries, since such measures are, ultimately, will aggravate the situation of workers in connection with job cuts, lower income and level of competitiveness.