What are the functions of the World Trade Organization?

The Functions of the World Trade Organization "WTO" are in brief:

1- It is designed to play the role of a watchdog in the spheres of trade in goods, trade in services, foreign investment, intellectual property rights, etc. Article III has set out the following five functions of WTO;

2- The WTO facilitates the implementation, administration, operation and further the objectives of the Multilateral Trade Agreements, and shall also provide the frame work for the implementation, administration and operation of the plurilateral Trade Agreements.

3- The WTO provides the forum for negotiations among its members concerning their multilateral trade relations in matters dealt with under the Agreement in the Annexes to this Agreement.

4- The WTO is the administer for the Understanding on Rules and Procedures Governing the Settlement of Disputes.

5- The WTO is the administer for Trade Policy Review Mechanism.

6- With a view to achieving greater coherence in global economic policy making, the WTO cooperates, as appropriate, with the international Monetary Fund (IMF) and with the International Bank for Reconstruction and Development (IBRD) and its affiliated agencies.