Highlights

World Trade Organization has not yet had an opportunity to run under a woman director. For the first time, in its history the World Trade Organization will be led by woman. Selection committee of the organization has announced that South Korea’s Yoo Myung-hee and Nigeria’s Ngozi Okonjo Iweala are the 2 finalists to become the next Director General. WTO Established in 1995.

Previous director general Roverto Azevedo faced intense pressure from the United States of America Government repeatedly accusing World Trade Organization of unfair treatment. He had to leave a year earlier due to continuous pressures.

Organizational Structure of World Trade Organization

The Highest authority of World Trade Organization is the Ministerial Conference. The first ministerial conference was held in Singapore on 9–13 December 1996. It meets every 2 years. World Trade Organization body consists of a general council, Dispute Settlement Body and Trade Policy Review Body.

General Council of WTO

3 councils of World Trade Organization report to General Council. They are Council for Trade in goods or the Goods Council, Council for Trade in Services called the Services Council and the TRIPS (Trade related Aspects of Intellectual Property Rights) Council.

Trade Policy Review Body

The Trade Policy Review body takes the policy reviews of members and is thus open to all World Trade Organization members.

Dispute Settlement Body

Dispute Settlement Body establishes dispute settlement panels, refers matters to arbitration, authorises suspension of concessions, maintain surveillance.

Marrakesh Agreement

The World Trade Organization was established under the Marrakesh Agreement. It replaced the GATT (General Agreement on Tariffs and Trade) Agreement.

India and WTO

Recently, World Trade Organization established 2 dispute settlement panels targeting import duties imposed by India in several Information and Communication Technology products. India imposed 10 per cent custom duty on ICT products in 2017. It was further increased to 20 per cent The move is opposed by United States of America, European Union, Japan, Singapore, China, Canada and Thailand.

The goods covered were machines for reception, telephones for wireless networks, transmission and conversion of images, voice, etc.

WTO to be led by a woman for first time WTO to be led by a woman for first time