News Excerpt: 

The Marrakesh Agreement establishing the World Trade Organization was signed on 15 April 1994, leading to the birth of the WTO on 1 January 1995. 

More about the news: 

For the past 30 years, the WTO has made a major contribution to the strength and stability of the global economy, helping to boost trade growth, resolve trade disputes and support the integration of developing economies into the trading system.

Marrakesh Agreement: 

• The Marrakesh Agreement refers to the foundational document that established the World Trade Organization (WTO). It was signed on April 15, 1994, in Marrakesh, Morocco, by representatives of over 123 countries, marking the culmination of the Uruguay Round of trade negotiations.
• The agreement officially establishes the World Trade Organization as the successor to the General Agreement on Tariffs and Trade (GATT), which had governed international trade since 1948. The agreement enshrines key principles of non-discrimination, transparency, and predictability in international trade relations, aimed at promoting open and fair trade practices among member countries.
• Key Components: 
• Institutional Framework: It outlines the organizational structure of the WTO, including its decision-making bodies such as the Ministerial Conference, General Council, and Dispute Settlement Body.
• Rules-Based System: The Marrakesh Agreement emphasizes the importance of a rules-based system for international trade, providing a framework for negotiations, dispute resolution, and the enforcement of trade agreements.
• Trade Agreements: It incorporates various trade agreements negotiated during the Uruguay Round, covering areas such as trade in goods, services, intellectual property, and dispute settlement procedures.

Timeline of WTO:

• 1994–

• • April: Marrakesh Agreement establishing the WTO is signed.
  • January 1, 1995: The WTO officially begins its operations.
  • May: Renato Ruggiero (Italy) takes office as WTO Director-General.

• 1996–

• • December: WTO holds its 1st Ministerial Conference in Singapore.

• 1997–

• • December: Information Technology Agreement (ITA) enters into force, reducing tariffs on IT goods.

• 1999–

• • September: Mike Moore (New Zealand) becomes WTO Director-General.
  • November: 3rd Ministerial Conference in Seattle ends with breakdown in negotiations amid public protests.

• 2001–

• • November: 4th Ministerial Conference in Doha, Qatar, launches the Doha Development Agenda.
  • China becomes the WTO’s 143rd member.

• 2003–

• • September: 5th Ministerial Conference in Cancún, Mexico, welcomes Cambodia and Nepal as the first least-developed countries to join the WTO.

• 2005–

• • December: 6th Ministerial Conference in Hong Kong, China, sees the launch of the Aid for Trade initiative.

• 2009–

• • April: DG Pascal Lamy is reappointed for a second term of four years.

• 2013–

• • September: Roberto Azevêdo (Brazil) takes office as WTO Director-General.
  • December: 9th Ministerial Conference in Bali, Indonesia, concludes negotiations on the Trade Facilitation Agreement.

• 2015–

• • December: 10th Ministerial Conference results in the "Nairobi Package," including the abolition of agricultural export subsidies and the expansion of the ITA.

• 2017–

• • January: Amendment to the TRIPS Agreement enters into force, easing access to medicines.
  • February: Trade Facilitation Agreement enters into force.
  • September: Roberto Azevêdo begins a second term as WTO Director-General.

• 2021–

• • February: Dr. Ngozi Okonjo-Iweala becomes the first African and first woman to become WTO Director-General.

• 2022–

• • June: 12th Ministerial Conference results in an unprecedented package of decisions, including the landmark Fisheries Subsidies Agreement.

• 2024–
  • February-March: 13th Ministerial Conference concludes with a series of decisions on various topics, with a commitment to continue talks.