FINCALE, NEIL JUSTIN D.

2-C ASSIGNMENT #2

a) The functions of the World Trade Organization (WTO)

In brief, the World Trade Organization (WTO) is the only international organization
dealing with the global rules of trade. Its main function is to ensure that trade flows as
smoothly, predictably and freely as possible.
The WTO can:
1 ... cut living costs and raise living standards
2 ... settle disputes and reduce trade tensions
3 ... stimulate economic growth and employment
4 ... cut the cost of doing business internationally
5 ... encourage good governance
6 ... help countries develop
7 ... give the weak a stronger voice
8 ... support the environment and health
9 ... contribute to peace and stability
10 ... be effective without hitting the headlines
b) The latest number of memberships countries
The World Trade Organization currently has 164 members since 29 July 2016.
ACCESSIONS IN PROGRESS

1. Algeria 7. Bosnia and 12. Iran

2. Andorra Herzegovina 13. Iraq
3. Azerbaijan 8. Comoros 14. Lebanese Republic
4. Bahamas 9. Curaçao 15. Libya
5. Belarus 10. Equatorial Guinea 16. Sao Tomé and
6. Bhutan 11. Ethiopia Principe
 17. Serbia 20. Sudan 22. Timor-Leste
18. Somalia 21. Syrian Arab 23. Uzbekistan
19. South Sudan Republic

c) The last five countries that became members of WTO and who represented
these countries during the signing of membership.
a. Yemen-26 June 2014
The Protocol of Accession was signed by H.E. Dr Saadaldeen Talib,
Yemeni Minister of Trade and Industry, and WTO Director-General
Roberto Azevêdo.
b. Seychelles-26 April 2015
President James Michel signed the Instrument of Acceptance of the
Accession Protocol, confirming its membership terms, at a plenary meeting
of the Cabinet of Ministers in Mahé, Victoria, Seychelles.
c. Kazakhstan - 30 November 2015
WTO members formally adopted Kazakhstan’s WTO terms of entry at the
General Council meeting on 27 July 2015, in the presence of Kazakhstan’s
President Nursultan Nazarbayev. Kazakhstan's Accession Package was
approved by the Working Party members on 22 June and ultimately by the
General Council on 27 July.
d. Liberia-14 July 2016
President Ellen Johnson Sirleaf and Minister Axel Addy played the key role
in the accession process. Liberia’s Accession Package was approved by the
Working Party members on 6 October 2015 and by Ministers at the Nairobi
Ministerial Conference on 16 December 2015.
e. Afghanistan – July 29, 2016
President Mohammad Ashraf Ghani was the one who signed the Protocol of
Accession. Afghanistan’s accession package was approved by the Working
Party members on 11 November 2015 and by Ministers at the Nairobi
Ministerial Conference on 17 December 2015.

Source: World Trade Organization - Global trade. (n.d.). Wto.Org. Retrieved September 18,
2020, from https://www.wto.org/index.htm