The WTO is a member-driven organization composed of governments and customs territories (such as the EU). It sets the framework for trade between its members with decisions taken on a consensus basis. Its core activities are:
Forum for multilateral trade negotiations.
Resolving trade disputes between States.
Setting the legal ground-rules for trade in the form of Agreements.
Monitoring Members' trade policy through the Trade policy Review Mechanism.
Becoming a WTO member requires compliance with the WTO rules in force and negotiations with the existing members on the acceding country’s commitments. These negotiations are concluded when there is a decision taken by the WTO Ministerial Conference.
Why the WTO matters
The EU is committed to multilateralism and has acknowledged the fundamental importance of WTO in the international trade system.
Being the world's major global player in the international trade, the EU supports the work of the WTO on multilateral rule-making, trade liberalization and sustainable development.