The World Trade Organisation is a driver of
globalisation. The WTO supervises and encourages international trade. It was set up in 1995
under the Marrakech Agreement, replacing the General Agreement on Tariffs and
Trade (GATT). The WTO regulates trade between participating
countries; providing a framework for negotiating and formalising trade
agreements and a dispute resolution process. The WTO's current director-general
is Roberto Azevêdo, who leads a staff force of
over 600 people in Geneva, Switzerland.
The organisation is attempting to complete negotiations
that focus on addressing the needs of developing countries. There are obstacles
to agreeing trade deals between MEDCs and LEDCs however. Free trade on
industrial goods and services with the retention of protectionism
on farm
subsidies to domestic agricultural has been requested by developed countries. Developing countries
require international liberalisation of fair trade
on agricultural products. These issues are central to the current debate and
have hindered any progress to launch new WTO negotiations. As a result of this
impasse, there have been an increasing number of bilateral free trade agreements signed.
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