- Type: Convention
- Date of signature: 15/04/1994
- Place of signature: Marrakech, Marocco
- Depositary: Director-General of the World Trade Organization (WTO)
- Date of entry into force: 01/01/1995
What is it about?
The expression “WTO Agreement” is designed to include all GATT agreements (including the General Agreement on Tariffs and Trade and all agreements concluded under the authority of the GATT), the Marrakech Agreement(s), and also all agreements resulting from the negotiations of the Uruguay Round. The 15 April Agreement is the one that creates the World Trade Organization (WTO). Its structure is headed by a Ministerial Conference meeting at least once every two years. A General Council oversees the operation of the agreement and ministerial decisions on a regular basis and establishes subsidiary bodies such as the Goods Council, the Services Council and the Trade-Related Intellectual Property Rights (TRIPs) Council. The WTO Agreement also establishes a Dispute Settlement Body (DSB). The WTO Agreement has four (4) main objectives: to improve access to goods and market services, to reinforce the system of existing international commercial rules, to ensure world trade stability, predictability and transparency and finally to improve the commercial disputes settlement mechanism.
Why is it relevant?
This agreement is critically relevant because it provides for a common institutional framework, including the GATT agreements as well as those resulting from the Uruguay round. Thus, it provides a greater visibility of international Trade Rules. This visibility is increased by the creation of the WTO as a Multilateral Commercial Institution that has authority for all trade-related questions such as trade in services, agriculture, intellectual property and trade dispute settlement.
Typically, WTO agreements focus on the situation of developing countries by creating exceptions that allow them more favorable rules.
- Agreement on Trade in Civil Aircraft
- Government Procurement Agreement