The World Trade Organization is an international association that is involved in the regulation of foreign economic commerce for member countries. Founded in early 1995,
WTO functions include monitoring the implementation of the general agreement on tariffs and trade (GATT). The number of its members totals more than 150 states. The headquarters of the World Trade Organization is located in Geneva (Switzerland).
Countries that have legally regulated international economic activity in accordance with the terms of the Uruguay Round agreement can apply for WTO accession. The process of introduction to the World Trade Organization is very sensitive and lengthy, it takes about 5 years. First, the state economy and trade policy are carefully studied, then negotiations on the interaction of the benefits from the country's accession to the WTO follow, in conclusion, an agreement is reached and documents are drawn up. Membership is paid in accordance with the rates of the general council.
Quitting the terms of the agreement will not be difficult for any country: a written notice is sent directly to the Director General about the desire to leave the WTO. Six months after the notification is issued, membership in the organization will expire. However, there have not yet been cases of the desire to break the cooperation agreement in the history of the association.
The main functions of the WTO:
- monitoring commercial policies of participating states;
- monitoring compliance with the terms of the Uruguay Round agreement and other treaties between the countries participating in the WTO;
- organization and support of commercial negotiations of the association;
- providing states with an informational aid in the framework of the WTO program;
- cooperation with international organizations to strengthen trade policies;
- assistance in resolving disputed issues.
The task and functions of the WTO is to expand the freedom of the global economy through debugging tariff processes by reducing import duties and eliminating restrictions and barriers. Association observers: UN, IMF, OECD, UNCTAD, WIPO and many others.
The WTO is managed by a conference of representatives from all participating countries at the ministerial level. Meetings are held at intervals of once every two years. They discuss accumulated issues regarding the function of the WTO and consider candidates for entry into the agreement. At the conference, all decisions are reached by consensus. In the absence of a unanimous decision, voting is permissible when the representative of each participating State has the right to one vote. Documents, decisions, contracts and agreements in the organization’s work are recorded in three languages: English, Spanish, French.
To join the WTO, agreement with international standards for trade rules established by its participants is required. It is necessary to create conditions for trade between countries, regulating market relations in the negotiation process. General issues are discussed directly within the organization, together with all interested.
The creation of the large Russia-WTO economic market lasted about 17 years. In 1993, an application was submitted for connection to the GATT, and since 1995, the Russian Federation has revealed a desire to join the World Trade Organization. A commission was established to study the trading industry in Russia, which was engaged in the search for mutually beneficial conditions for cooperation.
There were also certain difficulties in regulating laws according to the standards of a trade organization. It was required to open the market to other states, adjust customs duties, determine subsidies for the export of goods and raw materials, provide state support for the agricultural sector. Economic transformation courses were compiled, lengthy negotiations were held with interested countries. The entry of the Russian Federation into the WTO ranks took place in the summer of 2012. However, to date, Russian analysts do not consider such a union as a comprehensive gain for the country and predict the emergence of certain difficulties in the Russian economy.
