December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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80 International Business
ratified in their parliaments. These agreements are in
the form of contracts which guarantee important trade
rights to its member nations and are the legal ground-
rules for international commerce. The WTO presently
has 129 members.
1
The WTO’s basic role is to ensure that nations follow the rules of trade at a global level. It has got this
mandate based on negotiations concluded under GATT especially under the Uruguay Round in 1986–
94. The WTO is governed by a Ministerial Conference, which meets every two years; a General Council,
which implements the conference’s policy decisions and is responsible for day-to-day
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