Functions
Among the various functions of the WTO, these are regarded by analysts as the most important:
- It oversees the implementation, administration and operation of the covered agreements.
- It provides a forum for negotiations and for settling disputes.
Additionally, it is the WTO's duty to review and propagate the national trade policies, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.
The WTO is also a center of economic research and analysis: regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization. Finally, the WTO cooperates closely with the two other components of the Bretton Woods system, the IMF and the World Bank.
Read more about this topic: World Trade Organization
Famous quotes containing the word functions:
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—Charles Baudelaire (1821–1867)
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—Ralph Waldo Emerson (1803–1882)
“Empirical science is apt to cloud the sight, and, by the very knowledge of functions and processes, to bereave the student of the manly contemplation of the whole.”
—Ralph Waldo Emerson (1803–1882)