QS Study

The major functions of World Trade Organization (WTO) include:

  • Promoting an environment that is encouraging to its member countries to come forward to World Trade Organization (WTO) in mitigating their grievances;
  • Laying down a commonly accepted code of conduct with a view to reducing trade barriers including tariffs and eliminating discrimination in international trade relations;
  • Acting as a dispute settlement body;
  • Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes;
  • Holding consultations with International Monetary Fund¬†(IMF) and International Bank for Reconstruction and Development (IBRD) and its affiliated agencies so as to bring better understanding and cooperation in global economic policy making; and
  • Supervising on a regular basis the operations of the revised Agreements and Ministerial declarations relating to goods, services and Trade Related Intellectual Property Rights (TRIPS).