What are the features of the WTO agreements?
At the heart of the system– known as the multilateral trading system– are the WTO”s agreements, negotiated and signed by a large majority of the world”s trading nations, and ratified in their Parliaments. These agreements are the legal ground-rules for international commerce. Essentially, they are contracts, guaranteeing member countries important trade rights. They also bind Governments to keep their trade policies within agreed limits to everybody”s benefit. The agreements were negotiated and signed by Governments. However, their purpose is to help producers of goods and services, exporters, and importers conduct their business.
