Share, , Google Plus, Pinterest,


How Do Trade Agreements Of International Organizations Affect Trade

The Asia-Pacific Economic Cooperation (APEC) is a forum of 21 Pacific countries (former member states) that aims to promote free trade and economic cooperation throughout the Asia-Pacific region. Established in 1989 in response to the growing interdependence of Asia-Pacific economies and the emergence of regional economic blocs (such as the European Union) in other parts of the world, APEC strives to improve living standards and educational standards through sustainable economic growth and to promote a sense of community and appreciation of common interests among Asia-Pacific countries. The question of whether the WTO is fulfilling its duty and mission is the subject of ongoing debate. Yet the WTO currently has 104 members and twenty observer governments. WTO member states account for nearly 97% of world trade and 98% of world GDP. As soon as the twenty observer governments become members, it is possible that the WTO will monitor the entire world economy. What began in Geneva in 1947, with twenty-three nations focused exclusively on tariff reduction, has grown into a truly global organization devoted to agriculture, labour standards, environmental issues, competition and intellectual property rights. The WTO cooperates with a number of other international governmental organizations under the banner of “coherence”, a term derived from the “decision to ensure greater coherence in world economic policy” agreed by ministers in Marrakesh in April 1994. However, global economic policy coherence goes far beyond the WTO`s formal and specific cooperation agreements with the IMF and the World Bank. Indeed, it is now recognized that the WTO system is only one part of a much broader range of international rights and duties that bind WTO members. The WTO maintains important institutional relations with several other international organizations; There are about 140 international organizations that have observer status in WTO forums.

The WTO also participates, as an observer, in the work of several international organizations. In total, the WTO secretariat maintains working relations with nearly 200 international organizations in the fields of statistics, research, standardization, technical assistance and training. Although the extent of this cooperation is different, coordination and coherence between the work of the WTO and the work of other international organizations is developing to help members carry out their economic policies. > News > Background > Terms of Reference > Organizations In WTO legal texts > Other organizations > Subject Regular consultation: The IMF has observer status in certain WTO bodies and may participate in meetings of certain WTO committees and working groups. The WTO Secretariat participates in meetings of the IMF Executive Board or the Liaison Committee with the World Bank and other international organizations on issues of common interest. Macrocritical trade issues may be part of the Fund`s surveillance activities and may, if necessary, be addressed in IMF-supported programs to achieve program objectives. Similarly, IMF surveillance reports are important contributions to regular WTO reports on member countries` trade policy reviews. Most-Favoured-Nation (MFN) status is part of the WTO`s non-discrimination mandate. Most-favoured-nation status requires a WTO member to apply the same conditions for trade with all other WTO members. . . .