TITLE OF THE ARTICLE: A Survey of the Institutional Framework and Operation of the World Trade Organisation
AUTHOR:
R. O. ADEOYE, LL.B (Hons), BL, LL.M, Principal Partner, Aderaph Solicitors, Ibadan, President/Executive Director, Centre for Human Strategic Empowerment & Development in Africa (CHSEDA)
ABSTRACT:
Before the end of World War II, an essential element in maintaining the world peace and ensuring future economic prosperity was the establishment of some inter-governmental organizations that would work in concert toward global economic cooperation, progress and advancement of which General Agreement on Tariffs and Trade (GATT) which later became one of the World Trade Organization’s (WTO) agreements was formed in place of the negotiated but unsuccessful International Trade Organisation. Over time, the GATT system of multilateral trade agreements was replaced by the newly created WTO in 1995 being the outcome and the result of the Uruguay Round Final Act and the accompanying Agreements Establishing the WTO having been concluded by 125 countries on 15 April 1994 at Marrakesh. Since its inception, the WTO Agreement and its annexes has strengthened existing international trade discipline, extend international trade law rules into new economic sectors, and provide a unified common institutional framework and fulcrum for the conduct of trade relations among its members. Today, the WTO has assumed one of the most powerful international institutions despite its unique structural and operational framework. This paper examines generally the WTO’s structure and operations. It concludes with some suggestions that will in the opinion of the author enhance WTO’s aims and objectives.