Complete information on the Features of Multilateral Trade Agreements

1. The WTO is the main organ of implementing the Multilateral Trade Agreements.

2. The WTO is global in its membership. Its prospective membership is already around 150 countries and with many other considering accession.

3. It is the forum for negotiations among its member. In this forum, the member-nations discuss issues related to the MTAs and associated legal instruments. It is also the forum for negotiations on terms of the Plurilateral Trade Agreements (PTAs). In fact, it is the third economic pillar of world-wide dimensions along with the IMF and the World Bank.

4. It has a far wider scope than its predecessor GATT, bringing into the multilateral trade system, for the first time, trade in service, intellectual property protection and investment.

5. It is a full fledged international organization in its own right.

6. It administers a unified package of agreements to which all members are committed.

7. The decision-making under the WTO is carried out by consensus where a consensus is not arrived at the issue shall be decided by voting. Each member has one vote.

8. The WTO has legal personality. Members shall endow it with such legal capacity, privileges and immunities as are necessary for the exercise of its functions.

9. The representatives of the members and all officials of the WTO enjoy International privileges and immunities.