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Reference Encyclopedia - WTO (4560 words) |
 | The WTO states that its aims are to increase international trade by promoting lower trade barriers and providing a platform for the negotiation of trade and to their business. |
| The WTO began the current round of negotiations, the Doha round, at the Fourth Ministerial Conference in Doha, Qatar in November 2001. |
| The sixth WTO Conference Ministerial was held in Hong Kong from December 13 - December 18, 2005. |
| World Trade Organization: Definition and Much More from Answers.com (5161 words) |
| 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. |
| The WTO is responsible for monitoring national trading policies, handling trade disputes, and enforcing the GATT agreements, which are designed to reduce tariffs and other barriers to international trade and to eliminate discriminatory treatment in international commerce. |
| Unlike GATT, the WTO is a permanent body but not a specialized agency of the United Nations; it has far greater power to mediate trade disputes between member countries and assess penalties. |
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