World Trade Organisation (WTO)
The World Trade Organisation was set up in 1995 to regulate the rules of international trade. It replaced GATT (the General Agreement on Tariffs and Trade) which was set up after World War Two. The WTO's aim is to promote free trade by lowering and eliminating trade tariffs and other barriers. It administers and polices free trade agreements, resolves trade disputes between governments, and organises trade negotiations. WTO decisions are final and all members must abide by its rulings. There are 148 member states. In theory the WTO is meant to represent the views of all of its members, but in practice it is dominated by the richer industrial nations. The most powerful members are the USA, the countries of the European Union and Japan. Many poor countries cannot even afford to have a representative at the WTO Headquarters.
The WTO Ministerial Conference is the governing body of the WTO. Meetings take place every two years, for trade ministers or other senior representatives of all member countries that are able to send someone. In 1999 they met in Seattle (USA), in 2001 in Doha (Qatar) and in 2003 in Cancn (Mexico). The next WTO Ministerial Conference will be in Hong Kong in December 2005.
Some people disagree with the WTO. They believe it is too powerful, and is run by rich countries to protect their own interests. Some people argue that it does not give enough attention to the problems of poorer countries. It is also argued that WTO trade agreements are wrong because they prioritise the interests of private corporations over the interests of governments and people.