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Commerce

The World Trade Organization (WTO), established on January 1, 1995, aims to promote international trade, regulate trade standards, and resolve disputes among member countries. The International Monetary Fund (IMF), created in July 1944, focuses on promoting financial stability, conducting economic surveillance, and providing financing to member countries in financial distress. Both organizations play crucial roles in facilitating and stabilizing global trade and finance.

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7 views1 page

Commerce

The World Trade Organization (WTO), established on January 1, 1995, aims to promote international trade, regulate trade standards, and resolve disputes among member countries. The International Monetary Fund (IMF), created in July 1944, focuses on promoting financial stability, conducting economic surveillance, and providing financing to member countries in financial distress. Both organizations play crucial roles in facilitating and stabilizing global trade and finance.

Uploaded by

guydanielbidzogo1996
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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1.

World Trade Organization (WTO)

The World Trade Organization or WTO was created on January 1, 1995, with its headquarters in
Geneva, Switzerland. It has a number of very specific missions:

- Promote international trade: the WTO aims to facilitate trade between member countries by
establishing common rules and reducing tariff and non-tariff barriers.

- Regulate trade: the WTO sets standards and rules for international trade, notably in the areas of
tariffs, subsidies and intellectual property.

-Resolving disputes: the WTO offers a dispute settlement mechanism to resolve trade conflicts
between member countries. Here are some of the means used by the WTO to resolve disputes:

-Consultation procedure: member countries can initiate consultations to resolve trade disputes.

-Panel: if consultations fail, a panel can be set up to examine the dispute and make
recommendations.

-Appellate Body: panel decisions can be challenged before the Appellate Body.

- International Monetary Fund (IMF)

The International Monetary Fund was created in July 1944 at the Bretton Woods Conference and is
headquartered in Washington DC, USA. It plays a number of roles and impacts on world trade:

- Promoting financial stability: the IMF aims to promote international financial stability by
providing financing and advice to member countries facing financial difficulties.
- Economic surveillance: the IMF monitors global economic developments and provides
analysis and recommendations to member countries.
- -Financing: the IMF provides financing to member countries to help them cope with
financial difficulties.

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