ABSTRACT
The World Trade Organization (WTO) was established on 1 January 1995, to oversee the administration of improved or new trade rules which resulted from the Uruguay Round of Multilateral Trade Negotiations. It is more global in membership than the General Agreement on Tariffs and Trade (GATT) and much wider in scope of commercial activities covered. It will begin to reverse protectionism in textiles and clothing, agriculture, services and other sectors. In this context, it is asserted by many governments and business that the Uruguay Round will significantly improve future prospects and policy alternatives to promote a transition to sustainable development, including protection of the environment. However, detailed analyses and implications, positive as well as negative, remain to be carried out in light of the actual manner of implementation of trade commitments made.
