When was WTO formed?

Answer 1

The WTO started out as the General Agreement on Tariffs and Trade (GATT) in about 1948, headquartered at Geneva, Switzerland. Member countries realizing that the Great Depression was exacerbated by trade wars, competitive devaluations of currencies and establishing protectiive tariffs, following a "beggar-thy-neighbor" policy under the misguided belief that by keeping imports out of the country, domestic jobs would be saved. The result was retaliation and trade wars.

The GATT was established for the purpose of reduction of such barriers to trade on a mutual basis and negotiating trade disputes in order to avoid confrontations and trade wars, retaliations, etc.

Under the GATT and WTO, there have been several "Rounds" of trade negotiations, and several battles as well-but foliowing established rules-when disputes could not be settled peacefully. Perhaps the most notable of these "Rounds" was the Kennedy Round of Trade Negotiations, wherein American tariffs were slashed approximately 35% across the board, without demanding reciprocity from other nations--unilateral.

The WTO has been fairly successful in resolving such multinational disputes and has started moving into areas of protection of intellectual rights, services, etc. following patterns of international business change.

A bit more...

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 Marrakech Agreement, 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 for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986-1994).

The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain."

The WTO has 153 members, representing more than 97% of the world's population, and 30 observers, most seeking membership. The WTO is governed by a ministerial conference, meeting every two years; a general council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the ministerial conference. The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

Answer 2

The World Trade Organisation was founded in 1995.

Answer 3

World Trade Organization was created in 1995.

Answer 4

1995