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Cargo Ship at Sea

WTO

About the committee

The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System. WTO agreements are negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global Gross Domestic Products (GDP). The goal is to ensure that trade flows as smoothly, predictably and freely as possible. The roles of WTO are diverse, such as but not limited to, operating a global system of trade rules, acting as a forum for negotiating trade agreements, settling trade disputes between its members and supporting the needs of developing countries.

Agenda Item

Strategies for Equitable Trade and Sustainable Development

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Levels of economic development and trade capacities among countries vary widely. Developed countries often have stronger negotiating positions and trade advantages, while developing and less developed countries lack these advantages. This makes it difficult to achieve fair and balanced trade. Moreover, trade practices such as tariff and non-tariff barriers, subsidies and dumping can prevent competition on equal terms. The prioritization of the interests of large economies in the formulation of global trade policies and agreements disadvantages smaller and vulnerable economies. All these factors make achieving fairness and equity in global trade a complex challenge. This committee will focus on strategies to increase the inclusiveness of global trade, aiming to create a more balanced and equitable international economic system that promotes sustainable development and reduces poverty.

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