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  1. Match elements from the two columns to form correct noun phrases, translate them into Ukrainian and make up sentences:

1. imperial ( )

a) expansion

2. Great ( )

b) overstretch

3. international ( )

c) arbitration

4. trading ( )

d) Powers

5. trade ( )

e) institution

6. customs ( )

f) stability

7. developing

g) systems

8. effective ( )

h) partners

9. cross - border ( )

i) countries

10. stand - alone ( )

j) transactions

VI. Fill in the blanks with the following words: body, ambassadors, oversees, breached, abolish, agency, rulings, scope, disputes, merchandise.

  1. The World Trade Organization is an international body whose purpose is to promote free trade by persuading countries to _________ import tariffs and other barriers.

  2. The WTO is the only international ________ overseeing the rules of international trade.

  3. It polices free trade agreements, settles trade _________ between governments and organizes trade negotiations.

  4. WTO decisions are absolute and every member must abide by its _________.

  5. WTO members are empowered by the organization to enforce its decisions by imposing trade sanctions against countries that have _________ the rules.

  6. The WTO has a much broader ________ than GATT.

  7. Whereas GATT regulated trade in _________ goods, the WTO also covers trade in services, such as telecommunications and banking, and other issues such as intellectual property rights.

  8. The highest ________ of the WTO is the Ministerial Conference.

  9. This meets every two years and, among other things, elects the organization's chief - executive and ________ the work of the General Council.

  10. The General Council is in charge of the day - to- day running of the WTO and is made up of _________ from member states who also serve on various subsidiary and specialist committees.

VII. Decipher the following abbreviations denoting some of the most important international institutions:

ABBREVIATION

EXPANSION

MIA

TRIPs

ITO

GATT

WTO

MFN

IP

GATS

EFTA

OPEC

PCIJ

PLO

UIA

UNAVEM

UNCHE

VIII. Give the English equivalents:

Світова організація торгівлі; країна – претендент на вступ до СОТ; світовий торговельний оборот; інтеграція у світове господарство; відкриття ринків; принцип двосторонніх переговорів; Міжнародна торговельна організація ; тарифні знижки; Генеральна угода з тарифів; здійснення міжнародних інвестицій; Генеральна угода з торгівлі послугами; Угода про торговельні аспекти прав інтелектуальної власності; оптимальне використання світових ресурсів.