History of Wto Agreements

The World Trade Organization (WTO) is an international organization that aims to facilitate global trade, enforce trade agreements, and resolve trade-related disputes. Since its establishment in 1995, the WTO has played a significant role in shaping the world economy by negotiating and implementing trade agreements.

The history of the WTO`s agreements can be divided into four main rounds of negotiations: the Uruguay Round, the Doha Development Agenda, the Nairobi Package, and the Buenos Aires Package.

The Uruguay Round, which took place from 1986 to 1994, resulted in the creation of the WTO and its agreements. The most notable agreement from this round was the General Agreement on Tariffs and Trade (GATT), which aimed to reduce trade barriers and promote free trade. GATT was replaced by the WTO in 1995, and its principles were integrated into the new organization`s agreements.

The Doha Development Agenda was launched in 2001 and aimed to address the needs of developing countries by reducing trade barriers and promoting economic growth. However, negotiations were stalled due to disagreements among member countries on several issues, including agricultural subsidies and intellectual property rights. The Doha Round is still ongoing, with negotiations continuing to the present day.

In 2015, the WTO held its tenth ministerial conference in Nairobi, where members agreed on the Nairobi Package. This agreement included measures to eliminate export subsidies on agricultural products, improve access to the markets of least-developed countries, and enhance the transparency of regional trade agreements.

The most recent round of negotiations was the Buenos Aires Package, which took place in 2017. Although the conference did not result in any major new agreements, members discussed several issues, including electronic commerce, investment facilitation, and agriculture.

Overall, the WTO`s agreements have been instrumental in promoting global economic growth and reducing trade barriers. However, ongoing debates and disagreements among member countries highlight the complex nature of global trade negotiations and the challenges inherent in achieving consensus on key issues. As the world economy continues to evolve, the WTO`s agreements will undoubtedly play a crucial role in shaping global trade and economic policy.