Professional Documents
Culture Documents
Activity 2:
You already know that there are many international organizations related to
trade, now it would be interesting for you to make a survey about: which ones
does Spain belong to, since when, if it has held any managerial position, etc.
You also need to compare the functions of some organisms with respect to
others. There is no maximum number of agencies to include, but at at least
you must include these four agencies: IMF, WTO, WBG and EU.
• (OMC) WTO: It is the only international organization that deals with the rules
governing trade between countries. They are agreements that have been
negotiated and signed by the vast majority of countries in world trade and
ratified by their parliaments. The objective is to help the products of goods
and services, exporters and importers, carry on. It can be seen as an
organization for opening trade, a forum for governments to negotiate trade
agreements, and a place where countries can settle their trade differences.
◦ Who regulates the WTO?
▪ The WTO belongs to its Members. Countries make their decisions
through various councils and committees made up of all WTO
Members. The most important body is the Ministerial Conference,
which must meet at least once every two years.
◦ Why was the WTO created?
▪ The WTO was born as a result of five decades of negotiations aimed at
progressively reducing barriers to trade. When countries have faced
barriers to trade and have wanted them lowered, negotiations have
helped open markets for trade.
Cabot_Jimenez_Maria Francisca_GACI01_Tasca