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  3. World Trade Organization (WTO) is an international body that promotes and enforces the provisions of trade laws and regulations.

World Trade Organization (WTO) is an international body that promotes and enforces the provisions of trade laws and regulations.

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问题     World Trade Organization (WTO) is an international body that promotes and enforces the provisions of trade laws and regulations. (46)The World Trade Organization has the authority to administer and police new and existing free trade agreements, to oversee world trade practices, and to settle trade disputes among member states. The WTO ’was established in 1994 when the members of the General Agreement on Tariffs and Trade (GATT), a treaty and international trade organization, signed a new trade pact. The WTO was created to replace GATT.
    The WTO began operation on January 1, 1995. GATT and the WTO coexisted until December 1995, when the members of GATT met for the last time. Although the WTO replaced GATT. the trade agreements established by GATT in 1994 are part of the WTO agreement. However, the WTO has a significantly broader scope than GATT. GATT regulated trade in merchandise. (47)The WTO expanded the GATT agreement to include trade in services, such as international telephone service, and protections for intellectual property—that is, creative works that can be protected legally, such as sound recordings and computer programs. The WTO is also a formally structured organization whose rules are legally binding on its member states. The organization provides a framework for international trade law. (48)Members can refer trade disputes to the WTO where a dispute panel composed of WTO officials serves as arbitrator. Members can appeal this panel’s rulings to a WTO appellate body whose decisions are final. Disputes must be resolved within the time limits set by WTO rules.
    As of 1996 almost all of the 123 nations that had signed the new GATT pact had transferred membership to the WTO, including the United States. About 30 other nations had also applied for membership.
    (49)The WTO is based in Geneva, Switzerland, and is controlled by a general council made up of member states’ ambassadors who also serve on various subsidiary and specialist committees. The ministerial conference, which meets every two years and appoints the WTO’s director-general, oversees the General Council. Renato Ruggiero, a former Italian trade minister, became the first full-time director-general of the WTO in May 1995. (50)The agreements that the WTO will administer are expected to increase annual world trade by at least $755 billion by the year 2002.
选项
答案世界贸易组织有权执行新的和现行的自由贸易协议并保障其实施、监督世界贸易惯例以及解决成员国间的贸易争端。
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