wto

Thân thiện

The WTO facilitates trade agreements between member countries.

Definition

1. Proper noun: - World Trade Organization: An international institution headquartered in Geneva, Switzerland, responsible for establishing, monitoring, and enforcing the rules of international trade between nations.

Usage Examples

• Proper noun:
  • The WTO aims to ensure that trade flows as smoothly, predictably, and freely as possible.
  • A country must negotiate its terms of entry when it wants to join the WTO.
  • The dispute was settled according to the rules established by the WTO.

Advanced Usage

• "WTO rules": Refers to the comprehensive set of agreements that form the legal foundation for global trade.

  • The policy was challenged for being inconsistent with WTO rules.

• "WTO member": A country or customs territory that has acceded to the organization.

  • As a WTO member, the nation agreed to lower its import tariffs.

• "WTO dispute settlement mechanism": The formal process for resolving trade conflicts between member states.

  • The countries used the WTO dispute settlement mechanism to resolve the conflict.

Variants and Related Words

• GATT (General Agreement on Tariffs and Trade): The predecessor treaty and organization to the WTO, established in 1947.
• Multilateral trading system: The system of global trade rules, of which the WTO is the principal guardian.

Synonyms

• International trade body
• Global trade organization

Related Phrases

• "To bring a case before the WTO": To initiate a formal trade dispute against another member country.

  • The government decided to bring a case before the WTO.

• "WTO accession": The process by which a country joins the World Trade Organization.

  • The lengthy WTO accession process required significant economic reforms.

Học thuật

Noun

1. an international organization based in Geneva that monitors and enforces rules governing global trade

Từ đồng nghĩa

• World Trade Organization
• WTO