Explain the functioning of WTO with the help of WTO structure.

Structure of the World Trade Organization: The WTO has 164 members, accounting for 98% of world trade. The WTO is headed by the Ministerial Conference, while the daily operations are carried out by three administrative bodies: General Council: The General Council comprises the representatives of all member countries and acts as the representative of the Ministerial Conference when it comes to daily operations. Its job is to carry out the implementation and monitoring function of the WTO. The General Council is further divided into multiple councils and committees that focus on specific topics. Examples of such bodies include the Council on Goods, the Councils on Services, the Committee on Textiles under the Council on Goods, etc. Dispute Settlement Body: The Dispute Settlement Body is a part of the General Council and is responsible for settling trade disputes between member states. There is also an Appellate Body, where member states can appeal any decisions made against them during a dispute settlement. Trade Policy Review Body: The Trade Policy Review Body is also a part of the General Council and is responsible for ensuring the trade policies of member states are in line with the goals of the WTO. Member countries are required to inform the WTO about changes in their laws and trade policies. The body undertakes regular reviews of the policies to ensure they conform to the rules of the WTO. This is part of the monitoring function of the WTO, and it helps the WTO to adapt to the changing economic landscape. Functions of WTO Administering WTO trade agreements; Forum for trade negotiations; Handling trade disputes; Monitoring trade policies; Technical assistance and training for developing economies; Cooperation with other international organizations.