Marrakesh Agreement Establishing The World Trade Organization
Wishing to contribute to these objectives by concluding reciprocal and mutually beneficial agreements aimed at substantially reducing tariffs and other trade barriers and eliminating discrimination in international trade relations, 2. The WTO is the forum for negotiation among its members on their multilateral trade relations in the areas covered by the affairs of this agreement. The WTO can also provide a forum for further negotiations among its members on their multilateral trade relations and a framework for the implementation of the outcome of these negotiations, as decided by the Ministerial Conference. 9. At the request of the parties to a trade agreement, the Ministerial Conference may decide by mutual agreement to include this agreement in Schedule 4. At the request of the parties to a multi-lateral trade agreement, the Ministerial Conference may decide to remove this schedule 4 agreement. 3. The agreements listed in Schedule 4 and related legal instruments (so-called multilateral trade agreements) are also part of this agreement for the members who have adopted them and are binding on those members. Multilateral trade agreements do not create obligations or rights for Members who have not accepted them.
2. Membership decisions are made by the Ministerial Conference. The Ministerial Conference approves the agreement on the terms of membership by a two-thirds majority of WTO members. Notification of the entry into force of the protocol amending the Marrakesh agreement establishing the World Trade Organization 3. Paragraph 1 applies between a member and another member who has joined under Article XII only if the member who does not accept the application has informed the ministerial conference before the approval of the agreement on the terms of membership by the Ministerial Conference. (2) Least developed countries recognized as such by the United Nations should make commitments and concessions only to the extent that they are consistent with their individual development, financial and commercial needs or administrative and institutional capacities. On behalf of the European Community (now the European Union), the decision approves the agreement establishing the World Trade Organization (WTO). Although the Marrakesh agreement itself does not apply directly to your business, the WTO agreements offer, in their annexes, a comprehensive set of rules aimed at facilitating competition in the current global market.
The full text of all WTO agreements, including those concluded since the wto`s inception, is contained in the TARA database on negotiations and compliance with U.S. Department of Commerce trade agreements. (5) There is a commodity trade council, a services council and a council on aspects of intellectual property rights that affect trade (`TRIPS Advice`), acting under the general direction of the General Council. The Trade in Goods Council monitors the operation of the multilateral trade agreements in Schedule 1A. The Council for Trade in Services monitors the functioning of the general agreement on trade in services (`GATS`). The TRIPS Council monitors the functioning of the agreement on aspects of intellectual property rights that affect trade (hereafter referred to as the TRIPS Agreement). These councils carry out the functions entrusted to them by their respective agreements and by the General Council. They decide on their internal regulations, subject to the agreement of the General Council. Membership in these councils is open to representatives of all members.
These councils may meet to carry out their duties.