WTO mission statement

WTO mission.
The World Trade Organization — the WTO — is the international organization whose primary purpose is to open trade for the benefit of all.

About WTO.
"The WTO provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development. The WTO also provides a legal and institutional framework for the implementation and monitoring of these agreements, as well as for settling disputes arising from their interpretation and application. The current body of trade agreements comprising the WTO consists of 16 different multilateral agreements (to which all WTO members are parties) and two different plurilateral agreements (to which only some WTO members are parties).

Over the past 60 years, the WTO, which was established in 1995, and its predecessor organization the GATT have helped to create a strong and prosperous international trading system, thereby contributing to unprecedented global economic growth. The WTO currently has 153 members, of which 117 are developing countries or separate customs territories. WTO activities are supported by a Secretariat of some 700 staff, led by the WTO Director-General. The Secretariat is located in Geneva, Switzerland, and has an annual budget of approximately CHF 200 million ($180 million, €130 million). The three official languages of the WTO are English, French and Spanish.

Decisions in the WTO are generally taken by consensus of the entire membership. The highest institutional body is the Ministerial Conference, which meets roughly every two years. A General Council conducts the organization's business in the intervals between Ministerial Conferences. Both of these bodies comprise all members. Specialised subsidiary bodies (Councils, Committees, Sub-committees), also comprising all members, administer and monitor the implementation by members of the various WTO agreements."

In a globalized world role of WTO works like the role of the U.N. in a commercial sense, or at least that is my impression. It appears that "The end result of easy trad for all" has increased the standards of life even in cheap countries that were sources of providing inexpensive labor.for the rest of the consumers in the world. Now the expectations in most of those countries like (India, China, Indonesia etc) has increased dramatically that makes them not very economical anymore.

One would wonder what would next generation of World Trade Organization focus on? Where are we going to look for the next inexpensive labor? Other planets? Or should we change our expectations from the commercial world, and demand less.

Sources:

http://www.wto.org/index.htm