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the World Trade Organization (WTO) administer trade agreements trade negotiating settle trade disputes |
Світова організація торгівлі керування торговельними угодами торгові переговори регулювати торгові конфлікти |
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legal ground rules bind trade rights oversea keep trade policy dealings International Monetary Fund the World Bank |
основні правові норми зобов’язувати торгові права закордонний дотримуватися торгової політики справи (операції) Міжнародний валютний фонд Світовий банк |
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The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible. It does this by:
§ administrating trade agreements;
§ acting as a forum for trade negotiatings;
§ settling trade disputes;
§ reviewing national trade policies;
§ assisting developing countries in trade policy issues through technical assistance and training programmers;
§ cooperating with other international organizations.
At the heart of the system are the WTO’s agreements, negotiated and signed by a large majority of the world’s trading nations. Those agreements are the legal ground rules for international commerce. Essentially, they are contracts, guaranteeing member countries important trade rights. They also bind governments to keep their trade policies within agreed limits to everybody’s benefit. Their main purpose is to help producers of goods and services, exporters and importers conduct their business.
The WTO is one of three major organizations that oversea international economic relations among governments. The other two are the International Monetary Fund, which improves payment arrangements and other financial dealings between countries, and the World Bank, which provides loans to poorer nations. The WTO headquarters are in Geneva, Switzerland.
Exercise 1. Give the English for:
Світова організація торгівля, керувати торговельними угодами, форум для торгових переговорів, урегульовувати торгові конфлікти, торгова політика, технічна допомога, навчальні програми, співпрацювати з