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World Trade Organisation

Importance of WTO in India

  • It was constituted on Jan 1, 1995 and took the place of GATT (General Agreement on Tariffs and Trade) as an effective formal organization. GATT was an informal organization which regulated world trade since 1948.

  • Its head-quarter is at Geneva. Pascal Lamy is the present Director-General of WTO.

  • The present Membership of WTO is 153.

  • The highest authority of policy making is WTO's Ministerial Conference which is held after every two years.

Conference Year Place
First 1996 Singapore
Second1998 Geneva
Third 1999 Seattle (USA)
Fourth 2001 Doha (Qatar)
Fifth 2003 Cancun (Mexico)
Sixth 2005 Hong Kong

Functions of WTO in India

  • To provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.

  • To provide a platform to member countries to decide future strategies related to trade and tariff.

  • To administer the rules and processes related to dispute settlement.

Asian Development Bank (ADB) India

  • It was established in Dec 1966 on the recommendations of ECAFE (Economic Commission for Asia and Far East).

  • The aim of this bank is to accelerate economic and social development in Asia and Pacific region.

  • The head office of the bank is located in Manila, Philippines.

  • The ADB finances and gives technical assistance for development projects and programs; encourages public and private capital investment for development purposes and helps in coordinating development policies and plans of developing member-countries.

World Trade Organisation

Related Web Pages
World Trade Organisation |  IMF Functions |  Asian Development Bank India |  IMF Headquaters |  World Trade Organisation History |  International Monetary Fund Functions |  World Trade Organisation Objectives |  Indian Economy Current Issues |  Indian Economy History |  Latest General Knowledge Questions |  General Knowledge about Current Affairs |  Impact of WTO in India |  World Trade Organisation Functions |  IMF and World Bank |  World Bank Group IDA |  International Monetary Fund and India |  World Trade Organisation Structure |  WTO in India |  General Agreement on Tariffs and Trade |  Latest General Knowledge and Current Affairs |  Latest General Knowledge India |  History of Indian Economy |  World Bank Group MIGA |  General Agreement on Tariffs and Trade Objectives |  World Bank Head |  Functions of WTO |  Total Fertility Rate in India |  International Monetary Fund History |  Objectives of IMF |  World Bank Group Directory |  Role of WTO in Indian Economy |  International Monetary Fund Objectives |  Importance of WTO in Indian Economy/span> |  Total Fertility Rate World |  General Agreement on Tariffs and Trade History |  General Knowledge |  GK |  GK in India |  General Knowledge Questions |  General Knowledge India |  General Knowledge Test |  GK Quiz | 

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