Principles of the WTO

The WTO was established on January 1, 1995, as the successor to the General Agreement on Tariffs and Trade (GATT).

The primary objective of the WTO is to promote free trade among its member countries by reducing trade barriers and ensuring that trade is conducted in a fair and transparent manner.

The main principles of the WTO include non-discrimination, transparency, predictability, fair competition, market access, economic development, sustainable development, environmental protection, and labor rights.

The Ministerial Conference is the highest decision-making body of the WTO. It meets at least once every two years and is composed of representatives from all member countries.

The General Council is responsible for overseeing the day-to-day operations of the WTO. It meets regularly and is composed of representatives from all member countries.

The DSB is responsible for resolving trade disputes between member countries. It operates under a system of binding dispute settlement, which means that member countries are required to comply with the rulings of the DSB.

The MFN principle requires that all member countries must treat each other equally in terms of trade. This means that they must grant the same trade concessions to all other member countries and reduce their tariffs on imports from all other member countries.

The national treatment principle requires that imported products must be treated no less favorably than domestically produced products. This means that member countries cannot discriminate against imported products in terms of taxes, regulations, or other measures.

The Secretariat is responsible for providing administrative and technical support to the WTO. It is headed by the Director-General, who is appointed by the Ministerial Conference.

The Appellate Body is responsible for reviewing the decisions of the Dispute Settlement Body. It is composed of seven members, who are appointed by the Ministerial Conference.

A dispute settlement panel is composed of three members, while the Appellate Body is composed of seven members. A dispute settlement panel can only review the facts of a case, while the Appellate Body can review both the facts and the law. A dispute settlement panel's decision is final, while the Appellate Body's decision can be appealed.

The TPRM is responsible for reviewing the trade policies of member countries. It is conducted every two to four years for developed countries and every four to six years for developing countries.

The TBT Committee is responsible for developing and implementing technical regulations and standards that ensure that products meet certain safety, health, and environmental requirements.

The SPS Measures Committee is responsible for developing and implementing sanitary and phytosanitary measures that protect human, animal, and plant health from pests and diseases.