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HISTORY OF THE WORLD TRADE ORGANIZATION (WTO)
Fayzulloev Shokhijakhon Jobirovich
Lecturer of Tashkent State University of Law
https://doi.org/10.5281/zenodo.13378658
The World Trade Organization (WTO) occupies a central place in the
international trading system, regulating and streamlining global trade relations.
Founded in 1995, the WTO is the successor to the General Agreement on Tariffs
and Trade (GATT), which began its work in 1948. The history of the WTO is a
complex path associated with the development of international trade and
economic relations at the global level. In this article, we will consider the key
stages of the formation and development of the WTO, based on Russian sources
and research.
International trade has a long history, starting with ancient trade routes
such as the Silk Road that connected East and West. These early forms of trade
were often regulated by local rules and agreements, but global trade trends
began to take shape in Modern times. With the rise of colonial empires and the
Industrial Revolution, trade barriers began to disappear, and the need for more
orderly and universal trade rules became apparent.
1
The idea of creating an international trade organization dates back to the
end of World War II, when the international community realized the need for a
new order in international trade. At the Bretton Woods Conference in 1944,
along with the creation of the International Monetary Fund (IMF) and the World
Bank, the creation of the International Trade Organization (ITO) was discussed.
However, despite the efforts, the creation of the ITO proved impossible due to
political differences and changes in the international political environment.
2
Instead, the General Agreement on Tariffs and Trade (GATT) was signed in
1947, which entered into force in 1948. The GATT began as a temporary
agreement, but over time it became the basis for regulating international trade.
According to G.V. Maksakova, the GATT proved successful in reducing tariffs and
trade barriers, which contributed to the rapid growth of international trade in
the post-war period.
The evolution of the GATT and the rounds of negotiations:
GATT has conducted a series of rounds of negotiations aimed at further
reducing trade barriers and tariffs. The most important of these rounds include:
1
Pomeranz, Kenneth. “The Great Divergence: China, Europe, and the Making of the Modern World Economy”.
Princeton University Press, 2000.
2
Федоров, Н. А.
Международная торговля и экономическая политика
. Юрайт, 2010.
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Kennedy Round (1964-1967): The focus of this round was on tariff
reduction and anti-dumping. The Kennedy Round was the first round in which
significant steps were taken towards the harmonization of trade rules.
3
Tokyo Round (1973-1979): This round was aimed at expanding regulatory
areas, including technical barriers and subsidies. As a result of the Tokyo Round,
agreements were concluded concerning not only tariffs, but also other trade
barriers.
Uruguay Round (1986-1994): The most significant was the Uruguay
Round, which ended with the signing of the WTO Charter in 1994. During the
Uruguay Round, an agreement was reached on the creation of the World Trade
Organization, which replaced the GATT and expanded its functions.
Creation and structure of the WTO
The WTO Charter was signed on April 15, 1994 in Marrakech, Morocco.
The WTO officially began its work on January 1, 1995, becoming a full-fledged
international organization with its own secretariat and dispute resolution
system. 6 Unlike the GATT, which was an agreement between countries, the
WTO has become an organization with membership and established structures.
The main objectives and functions of the WTO include:
Regulation of trade agreements: The WTO manages a variety of trade
agreements related not only to goods, but also to services, intellectual property
and public procurement.
Dispute resolution: The WTO provides a mechanism for resolving trade
disputes between States, which contributes to compliance with international
trade norms and rules.
Monitoring and supervision: The WTO conducts regular reviews of
member countries' trade policies to ensure transparency and compliance with
trade rules.
4
Modern challenges and reforms
Since its inception, the WTO has faced various challenges, such as:
Trade wars and protectionism: In recent years, there has been an increase
in trade barriers and protectionist measures, which calls into question the
effectiveness of the WTO system. An example is the trade conflicts between the
United States and China, which have led to increased tariffs and new barriers to
trade.
3
Чернышев, С. А.
Международные торговые соглашения и их влияние на мировую экономику
. Экономика,
2008.
4
Николаева, О. И.
Мониторинг торговых политик и прозрачность в ВТО
. Международные исследования, 2013.
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Dispute resolution and procedures: Some disputes between States have
proved difficult to resolve, which has created tension and called into question
the work of the WTO dispute resolution system.
Environmental and social issues: The WTO also faces the need to take into
account environmental standards and social aspects of trade, which requires
updating and adapting rules and agreements.
5
To overcome these challenges, the WTO is taking steps to reform its
structure and mechanisms. One of the initiatives is to modernize the dispute
resolution system and update trade agreements to take into account current
economic realities and needs.
6
The history of the World Trade Organization is an important aspect of
international economic relations. From its origins in the GATT to the current
state, the WTO has played a key role in regulating international trade and
ensuring its stability. Despite the emerging challenges and the need for reforms,
the WTO remains an important player in the global economy, continuing to
develop and strengthen international trade relations.
Rogoff suggests that while the WTO has made significant contributions to
global trade, it may need reforms to better address contemporary challenges. He
advocates for adapting the organization's rules and mechanisms to ensure they
remain effective and equitable in a changing global landscape.
Bagwell argues that the WTO's role should evolve in response to new
global economic realities. He believes that while the organization has been
successful in many areas, it must continue to adapt to new issues and
stakeholder needs to maintain its relevance.
In summary, while many scholars recognize the WTO's contributions to global
trade and economic stability, there are also significant criticisms regarding its
impact on sovereignty, inequality, and its ability to address broader global
challenges. The consensus among scholars is that while the WTO has played a
crucial role in shaping international trade, there is a need for ongoing evaluation
and potential reform to ensure it meets the evolving needs of the global
economy.
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5
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