These schedules include commitments made by the various WTO members, which allow certain foreign products or suppliers to access their markets. Calendars are an integral part of the agreements. In the printed version, these calendars cover approximately 30,000 pages for all WTO members. The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries whose overall objective was to promote international trade by removing or removing trade barriers, such as tariffs or quotas. According to its preamble, its objective was to “substantially reduce tariffs and other trade barriers and eliminate mutually beneficial and reciprocal preferences.” The agreement on the application of health and plant health measures, also known as the sPS agreement, was negotiated during the Uruguay round of THE GATT and came into force with the creation of the WTO in early 1995. Under the SPS agreement, the WTO sets limits on members` policy on food safety (bacterial contaminants, pesticides, inspection and labelling) and animal and plant health (imported pests and diseases). Studies show that the WTO has stimulated trade[17][18] and that trade barriers would be higher without the WTO. [19] The WTO has strongly influenced the text of trade agreements, as “almost all recent preferential trade agreements (EEAs) explicitly refer to the WTO, often dozens of times in several chapters… In many of these EDPs, we find that essential parts of the language of the treaty – the majority of a chapter at a given time – are literally copied from a WTO agreement.

[20] In the UN`s Goal 10, WTO agreements have also been cited as instruments for reducing inequality. [21] The WTO`s highest decision-making body, the Ministerial Conference, usually meets every two years. [36] It brings together all WTO members, all of whom are countries or customs unions. The ministerial conference can make decisions on all issues as part of a multilateral trade agreement. Some meetings, such as the first Ministerial Conference in Singapore and the Cancun conference in 2003,[37] focused on conflicts between developed and developing countries known as “Singapore themes,” such as agricultural subsidies; While others, such as the Seattle conference in 1999, have provoked large protests. The fourth ministerial conference held in Doha in 2001 endorsed China`s accession to the WTO and launched the Doha Development Round, complemented by the sixth WTO Ministerial Conference (in Hong Kong), at which it was agreed to end agricultural export subsidies and adopt the European Union`s initiative to phase in tariffs on products from countries less advanced. At the wto`s sixth ministerial conference in December 2005, the WTO launched the Aid to Trade initiative, with a particular focus on helping developing countries trade, as set out in Goal 8 of Sustainable Development, which is to increase aid to trade and economic growth. [38] (c) CONTRACTING PARTIES, in agreement with the International Monetary Fund, formulate rules for the conversion of a foreign currency by the contracting parties, for which several exchange rates are maintained under the Articles of Agreement of the International Monetary Fund.