Wto world trade organization

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the MarrakechAgreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework fornegotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governmentsand ratified by their parliaments.[4][5] Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994).
*Has 153 members (123 uruguayround and the others had to get membership).
* Provides a forum for negotiations
Principles:
Non discrimination
resiprocity
binging and enforceable commitment
transparency






TheNorth American Free Trade Agreement or NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came intoforce on January 1, 1994. It superseded the Canada – United States Free Trade Agreement between the U.S. and Canada. In terms of combined purchasing power parity GDP of its members, as of2007[update] the trade bloc is the largest in the world and second largest by nominal GDP comparison.
* Promote fair competition in the free trade area.
* Protect and effectively enforce intellectualproperty rights in each member country.
* Create effective procedures for the implementation and enforcement of this treaty, for its joint administration and dispute resolution.
* Establish aframework for further trilateral, regional and multilateral cooperation to expand and enhance the benefits of this treaty.
* Remove barriers to trade and facilitate cross-border movement of...