BANKING AFFAIRS

Detailed explanation-1: -Geneva, Switzerland, where the WTO headquarters is located, is a unique place, with many United Nations and other international organizations, as well as missions to the WTO. The Centre William Rappard (CWR) is the name of the building that has been home to the WTO Secretariat since the WTO was established in 1995.

Detailed explanation-2: -The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.

Detailed explanation-3: -Global trade-The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that global trade flows smoothly, predictably and freely as possible.

Detailed explanation-4: -The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Decisions are normally taken by consensus.

Detailed explanation-5: -Full-fledged international organization, headquartered in Geneva, Switzerland; the old GATT was basically a provisional treaty serviced by an ad hoc secretariat. The WTO is not a government.