Английский для экономистов и менеджеров. Ульянова О.В - 78 стр.

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Benefits
History
Activity scope
Aims
THE WORLD TRADE ORGANISATION
Section A ________________________________
The World Trade Organization officially came into being in 1995, but its
roots go back much further – as far back as the Great Depression of 1929.
This worldwide disaster for industry and agriculture made tens of millions
unemployed. As a desperate attempt to protect their economies, many coun-
tries raised tariffs on imports by as much as 60%. This in turn had a devastat-
ing effect on world trade and contributed to the political climate that would
eventually lead to the outbreak of the Second World War.
After the war, in 1947, the first international trade talks took place in Geneva.
Their aim was to ensure the trade crisis of the 1930s would never be re-
peated. Out of these talks came the General Agreement on Tariffs and Trade
(GATT). Fifty years later, in 1995, the WTO was created as the official or-
ganization for international trade.
Section B ________________________________
• To provide a forum for negotiating trade agreements between nations.
• To ensure that each of the 146 member countries follows the rules
agreed and set out in the GATT.
• To help settle disagreements about trade between countries.
• To provide technical assistance and training to developing countries
(about ¾ of the total membership) to help them trade in the world econ-
omy.
Section C ________________________________
The WTO’s headquarters are in Geneva, and from here the Secretariat
provides administrative and technical support, but does not take key deci-
sions. These are taken only at a collective meeting of member countries
known as the Ministerial Conference, which takes place every two years.
Trade issues are discussed and decisions are taken democratically. Trade
disputes between nations can be settled by a process of consultation, with the
WTO acting as a neutral go-between and, in some cases, using a panel of ex-

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