I (Meaning and importance of Exports) Unit Structure

1. Administration of agreement- 
It looks after the administration of the 29 agreements (signed 
at the conclusion of Uruguay round in 1994), plus a number of 
other agreements, entered into after the Uruguay round. 
2. Implementation of reduction of trade barriers- 
It checks the implementation of the tariff cuts and reduction 
of non-tariff measures agreed upon by the member nations at the 
conclusion of the Uruguay round. 
3. Examination of Members
‘ Trade Policies- 
It regularly examines the foreign trade policies of the 
member nations, to see that such policies are in line with WTO 
guidelines. 
4. Collection of foreign trade information- 
It collects information in respect of export-import trade, 
various trade measures and other trade statistics of member 
nations. 

---

38 
5. Settlement of disputes- 
It provides conciliation mechanism for arriving at and 
amicable solution to trade conflicts among member nations. The 
WTO dispute settlement body adjudicates the trade disputes that 
cannot be solved through bilateral talks between member nations. 
6. Consultancy services- 
It keeps a watch on the development in the world economy 
and it provides consultancy services to its member nations. 
7. Forum for negotiation- 
WTO is a forum where member nations continuously 
negotiate the exchange of trade concessions. The member nations 
also discuss trade restrictions in areas of goods, services, 
intellectual property etc. 
8. Assistance of IMF and IBRD- 
It assists IMF and IBRD for establishing coherence in 
universal economic policy administration. 
3.10 IMPLICATIONS OF WTO AGREEMENTS 
Participation in WTO has implications on foreign trade and 
development of developed as well as developing nations. Although 
the ultimate goal of WTO is to free world trade in the interest of all 
nations of the world. Yet in reality the WTO agreements have 
benefited the developed nations more as compared to developing 
ones. This is because; the developed countries of Europe and 
America have powerful influence on the WTO agreements. 
The impact of WTO on developing countries is explained as 
follows-