RESTRICTED  
  
WT/BFA/W/52 7 
 
7 September 2020  
(20-5990) Page: 1/83 
Committee on Budget, Finance and Administration    
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
WORLD TRADE ORGANIZATION  
2019 FINANCIAL PERFORMANCE REPORT1 
 
 
 
1 The document was signed by the Director -General before 31st August 2020 and is being circulated at 
the date referenced above.  WT/BFA/W/52 7 
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  EXECUTIVE SUMMARY  
1. As at the end of 201 9, there were 164 Members in World Trade Organization (WTO).  
2. The accounting standards used by the WTO, International Public Sector Accounting Standards 
(IPSAS ) make the disclosure of the long -term assets and liabilities obligatory. Hence, the WTO 
Pension Plan and After Service Health Insurance assets and liabilities are reflected in the financial 
statements . This has a considerable effect on the financial situation of the WTO Secretariat.  
3. 2019 was the 10th year of a Zero Nominal Growth budget for the WTO. The expenditure for the 
year amounted to CHF  195.4 million, compared to the budget of CHF  197.2  million, resulting in a 
positive variance of CHF 1.8 million. In addition, the miscellaneous income earned for the year 
amounted to CHF 5.3 million compared to the budgeted amount of CHF 1.7 million, CHF 3.6 mi llion 
more than forecast. These two budgetary outcomes compose the budgetary result of approximately 
CHF 5 million for the year. This includes the release of the cumulative reserves of the Appellate 
Body Operating Fund of CHF 3.3 million.  
4. The budgetary res ult is adjusted by incorporating IPSAS requirements in order to determine the 
financial result. The financial result obtained in 201 9 is a deficit of CHF  31.896  million . The key 
adjustments were the actuarial cost of pension and After Service Health Insura nce (ASHI) benefits.  
5. The WTO Pension Plan is a separately administered and managed entity and subject to its own 
regulations and rules. Therefore, the WTO Pension Plan assets and liabilities are expressed 
separately and distinctly to clearly highlight this  information to stakeholders and third parties. The 
WTO Pension Plan's Management Board directly reports to the General Council.  
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TABLE OF CONTENT S 
1   INTRODUCTION  ................................ ................................ ................................ .........  6 
1.1   Budget  ................................ ................................ ................................ ......................  6 
1.2   Outstanding contributions  ................................ ................................ ............................  7 
1.3   Budget Breakdown  ................................ ................................ ................................ ..... 8 
1.4   Capacity Building  ................................ ................................ ................................ ........  8 
1.5   Budgetary and financial result  ................................ ................................ ......................  9 
2   BUDGET PERFORMANCE  ................................ ................................ ...........................  10 
2.1   2019 WTO Income  ................................ ................................ ................................ .... 10 
2.2   Consol idated WTO Budget Performance  ................................ ................................ ....... 11 
2.3   2019 WTO Secretariat Budget Performance  ................................ ................................ . 12 
2.3.1    Part A - Staffing Resources  ................................ ................................ .....................  13 
2.3.2    Part B - Other Resources  ................................ ................................ ........................  14 
2.3.3    Part C - Operating Funds and ITC  ................................ ................................ ............  18 
2.3.4    Transfers between Budgetary Sections  ................................ ................................ ..... 19 
2.4   2019 Budget Performance of the Appellate Body and its Secretariat  ................................  19 
2.5   Expenditure by Key Activities and Projects  ................................ ................................ ... 21 
2.5.1    Dispute Settlement  ................................ ................................ ................................  21 
2.5.2    Information Technology  ................................ ................................ ..........................  23 
2.5.3    Technical Assistance  ................................ ................................ ..............................  24 
2.5.4    Security  ................................ ................................ ................................ ................  25 
2.5.5    Building Maintenance  ................................ ................................ .............................  26 
2.5.6   Documents Reproduction  ................................ ................................ ........................  26 
2.5.7    Human Resources Training Programme  ................................ ................................ .... 27 
2.5.8    Public Forum  ................................ ................................ ................................ .........  28 
2.5.9    Open Day  ................................ ................................ ................................ .............  28 
3   EXPENDITURE PER OUTPUT CHAPTER  ................................ ................................ ...... 29 
3.1   Background  ................................ ................................ ................................ .............  29 
3.2   2019 Expenditure by Output Chapter Compared to the Output Budget  ............................  29 
3.3   Facilitating Negotiations  ................................ ................................ ............................  29 
3.4   Administering Agreed WTO Rules  ................................ ................................ ................  29 
3.5   Monitoring Trade Policies  ................................ ................................ ...........................  29 
3.6   Settling Disputes  ................................ ................................ ................................ ...... 30 
3.7   Capacity Building  ................................ ................................ ................................ ...... 30 
3.8   Assisting Accessions ................................ ................................ ................................ .. 30 
3.9   Conducting Research  ................................ ................................ ................................  30 
3.10   Reaching Out  ................................ ................................ ................................ .........  30 
4   PERFORMANC E OF TRUST FUNDS  ................................ ................................ .............  31 
4.1   Global Trust Fund  ................................ ................................ ................................ ..... 31 WT/BFA/W/52 7 
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  4.2   The French Irish Internship Programme  ................................ ................................ ....... 34 
4.3   Netherlands Trainee Programme  ................................ ................................ ................  34 
4.4   Trade Facilitation Agreement Facility (TTFAF)  ................................ ...............................  35 
4.5   Ministerial Conference – Participation of LDCs  ................................ ..............................  36 
4.6   Standards and Trade Development Facility  ................................ ................................ .. 36 
4.7   China LDCs and Accessions Programme  ................................ ................................ ....... 37 
4.8   China Development Cooperation Research Initiative (C DCRI)  ................................ .........  37 
4.8.1    CDCRI: Investment Facilitation for Development Trust Fund  ................................ ....... 37 
4.8.2    CDCRI: ASYCUDA TIVA Databases Trust Fund  ................................ ...........................  38 
4.9   Data S et on Trade in Services by Sector and Mode of Supply  ................................ .........  38 
4.10   Natural Disaster and Trade  ................................ ................................ ......................  39 
4.11   Transferring technologies for the development of Cotton Project  ................................ ... 39 
4.12   LDC Graduation Trust Fund  ................................ ................................ ......................  40 
4.13   LDC Fisheries Negotia tions Trust Fund  ................................ ................................ ....... 40 
4.14   Enhanced Integrated Framework Executive Secretariat  ................................ ................  41 
4.15   Independent Entity – Pre-Shipment Inspection – Deposits  ................................ ...........  41 
4.16   Programme Support Fund  ................................ ................................ ........................  42 
5   FINANCIAL STATEMENTS  ................................ ................................ .........................  43 
5.1   Management letter of representation  ................................ ................................ ..........  43 
5.2   Opinion of the external auditor  ................................ ................................ ...................  44 
5.3   WTO Financial Statements  ................................ ................................ .........................  46 
5.4   Notes to the financial statements  ................................ ................................ ...............  49 
5.4.1    Note 1 Accounting policies  ................................ ................................ ......................  49 
5.4.2    Note 2 Financial risk policy  ................................ ................................ ......................  52 
5.4.3    Note 3 Negative interest and negative equity  ................................ ............................  53 
5.4.4    Note 4 Cash and cash equivalents  ................................ ................................ ............  53 
5.4.5    Note 5 Receivables from Members, Observers and Contributors  ................................ ... 54 
5.4.6    Note 6 Inventories  ................................ ................................ ................................ . 54 
5.4.7    Note 7 Other receivables  ................................ ................................ ........................  55 
5.4.8    Note 8 Advances and Prepayments  ................................ ................................ ..........  56 
5.4.9    Note 9 Property, Plant and Equipment  ................................ ................................ ...... 56 
5.4.10    Note 10 Intangible Assets  ................................ ................................ .....................  57 
5.4.11    Note 11  Accounts payable, accruals and provisions  ................................ ................  57 
5.4.12    Note 12  Assessed contributions paid in advance  ................................ ....................  58 
5.4.13    Note 13 Refundable voluntary contributions  ................................ ............................  58 
5.4.14    Note 14 Employee benefits  ................................ ................................ ....................  59 
5.4.15    Note 15 Loan  ................................ ................................ ................................ ....... 63 
5.4.16    Note 16 Working Capital Fund  ................................ ................................ ...............  63 
5.4.17    Note 17 Reserves  ................................ ................................ ................................ . 63 
5.4.18    Note 18 Revenue  ................................ ................................ ................................ . 64 WT/BFA/W/52 7 
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  5.4.19    Note 19 Expenses  ................................ ................................ ................................  66 
5.4.20    Note 20 Segment reporting  ................................ ................................ ...................  67 
5.4.21    Note 21 Reconciliation with Budget  ................................ ................................ ........  68 
5.4.22    Note 22 Key management personnel  ................................ ................................ ...... 69 
5.4.23    Note 23 Contingent assets and contingent liabilities  ................................ .................  69 
5.4.24    Note 24 Events after the reporting date  ................................ ................................ .. 69 
5.5   Schedules  ................................ ................................ ................................ ................  70 
5.5.1    Schedule A 2019 Statement of Contributions from Members  ................................ ....... 70 
5.5.2    Schedule B Statement of Outstanding Contributions as at 31  December  2019 –  
Members  ................................ ................................ ................................ .........................  74 
5.5.3    Schedule C Statement of Outstanding Contributions as 31  December  2019 –  
Observers  ................................ ................................ ................................ .......................  77 
5.5.4    Schedule D Voluntary contributions received in 2019  ................................ .................  79 
5.5.5    Schedule E Balance due to contributors as 31  December  2019 ................................ .... 80 
5.5.6    Schedule F World Trade Organization – Programme Support Fund  ...............................  82 
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  1  INTRODUCTION  
1.1.  In accordance with the WTO Financial Regulations, the Financial Performance Report of the 
WTO for the year ended 31  December  2019 is being presented to the Committee for its examination 
with a view to making recommendations to the General Council . The report is presented in 
Swiss  Francs (CHF).  
1.2.  This Financial Performance Report comprises of the following key sections: Budget 
Performance, Expenditure per Output Chapter, Perf ormance of Trust Funds and 201 9 Annual  
Financial Statements.  
1.3.  The WTO deal s with the global rules of trade between nations. The WTO's scope encompasses:  
a. Implementation and Monitoring of existing Trade Rules: various WTO Bodies seek to 
ensure that WTO agreements are being properly implemented. All WTO Members undergo 
periodic detailed review of their trade policies and practices.  
b. Trade Negotiations: changes to the rules of trade require the agreement of all WTO 
Members, who must reach consensus through negotiations.  
c. Dispute Settlement: WTO Members bring disputes to the WTO if they are of the view that 
their rights under trade agreements are being infringed.  
d. Building Trade Capacity: the WTO aims to help developing countries build their trade 
capacity. A large number of training activities are organized each year for officials from 
developing countries. This is part of a wider Aid -for-Trade Initiative, which also includes 
the Enhanced Integrated Framework (EIF) and the Standards and Trade Development 
Facility (STDF).  
e. Outreach: the WTO maintains regular dialogue with Non -Governmental Organizations, 
parliamentarians, other International Organizations, the media and the general public on 
various aspects of the WTO, with the aim of enhancing cooperation and inc reasing 
awareness of WTO activities.  
1.1  Budget  
1.4.   The budget for 201 9, amounting to  CHF 197.2 million, was approved by the General Council 
(WT/GC/M/ 170) as part of the budget for the 2018-2019 biennium .  
1.5.  Figure  1 shows the annual budget amounts since 200 1. The 2011 and 2012 regular budget 
amounted to CHF  196 million per annum. The increase in 2013 represents the addition of 
CHF 1.2 million required to reimburse the interest -free loan for the new WTO building. In essence, 
the regular budget for activities rem ained stagnant for the past nine years.  
  WT/BFA/W/52 7 
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  Figure 1 Budget Evolution (MCHF)   
 
1.6.  The budget is financed from assessed contributions from Members and miscellaneous income:  
a. The share to be contributed by each Member is based on the Member's international trade 
(imports plus exports) in relation to the international trade of all WTO Members.  
b. Miscellaneous income is mainly derived from the sale of publications ; royalties ; savings or 
refunds from prior year obligations ; rental of meeting rooms ; contributions from 
Observers ; and an allocation of part of the funds paid into the Programme Support Fund 
for programme support costs . 
1.2  Outstanding contributions  
1.7.  From 2005 to 2016, the amo unt of outstanding contributions from Members were generally on 
a lower trend , with the lowest level of arrears registered  in 2016. There was a peak in 2017, followed 
by reversion to a decline in 2018. The outstanding contributions as at the end of 2019 are  slightly 
lower than at the end of 2018, but in line with previous years.  
Figure 2 Outstanding Contributions (MCHF)  
 
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  1.3  Budget Breakdown  
1.8.  The WTO Budget is divided into three parts: Part  A covers the cost of Staffing Resources ; Part B 
covers Other Costs ; and Part C covers Operating Funds and the WTO's contribution to the budget of 
the International Trade Centre (ITC).  
Figure 3 WTO 201 9 Budget by part  
 
 
1.9.  The budget allocated to Staffing Resource s (Part A) represents approximately 75% of the total 
budget. This comprises salaries  and emoluments of regular staff, fixed term staff, temporary staff, 
translators and consultants.  
1.10.   The budget under Part B represents 14% of the total budget and mainly includes the 
expenditure for General Services; Travel & Hospitality; Capital and Financial Expenditure.  
1.11.   Part C, which represents 11% of the budget, includes the three Operating Funds  (being the 
Ministerial Conference Operation Fund, Appellate Body Operating Fund and Building Renovation 
Fund)  and the WTO's contribution to the International Trade Centre's budget .  
1.4  Capacity Building  
1.12.   The International Trade Centre (ITC) is the joint technic al co -operation agency of the 
United  Nations (UN) and the WTO, to boost Trade -related Technical Assistance (TRTA). Originally 
created by the General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated under the 
joint aegis of GATT/WTO and the U N since 1968 , the latter acting through the United Nations 
Conference for Trade and Development (UNCTAD). ITC is the focal point for technical assistance and 
technical cooperation activities in the trade promotion field, within the UN system of assistance to 
developing countries, as affirmed by the Economic and Social Council in its resolution 1819 (LV) of 
9th August  1973.  
1.13.   In addition to its regular budget, the WTO receives voluntary contributions for selected 
programmes that are managed through Trust Funds. In 2019, Trust Fund expenditures amounted 
to CHF 2 1 million.  
  
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  Figure 4 Key contributors  to Trust Funds since 2000  
 
 
1.14.   The DDAGTF  (hereinafter ref erred to as "the Global Trust Fund")  is the core Trust Fund for 
technical assistance. Activities financed through the Global Trust Fund , in 201 9, were carried out in 
conformity with the 2018-19 Biennial Technical Assistance and Training Plan , which encompa sses 
seminars at the global and regional level ; e-learning; academic support for training and capacity 
building; train ing programmes; and national activities , as requested by Members.  
Figure 5 Number of Contributors to Trust Funds  
 
 
1.5  Budget ary and financial result  
1.15.   Table 1 shows the budgetary surplus and the financial deficit for the years 2018 and 2019. In 
December 2019, the  General Council approved  the transfer of the 201 8 budget ary surplus to the 
Working Capital Fund.   
1.16.   The transfer of the CHF 1.320 million of  budgetary surplus is an intra -equity transfer, it 
redistributes the components of equity without altering the overall balance. Therefore, the transfer 
has equally affected the accumulated financial deficit which i ncreased by the same amount.   Sweden
13%
UNOPS
10%
Norway
10%
Netherlands
9%
Germany
7%European Union
6%United States
6%France
5%Denmark
4%Australia
4%Finland
4%United Kingdom
3%Ireland
3%Canada
3%Japan
3%
Others
10%
6 627
2422 222324
19 19 19
14 141513 13121312110 038713
1015
12
151312
1217
131216
13
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Global Trust Fund Contributions Other contributionsWT/BFA/W/52 7 
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  Table 1 2018 -19 Financial Performance  (kCHF)  
Reconciliation of the Budget 
and Financial Results (in '000 
CHF)  Performance 
2018 Transfer from 
Budgetary 
Surplus to 
WCF 201 8 Performance 
2019 Transfer from 
Budgetary 
Surplus 201 9 
Budgetary Surplus  1,320  -1,320  5,010  -5,010  
IPSAS adjustments  6,740  - 5,563 -    
Acquisition of Property Plant and 
Equipment  618 - 543 - 
Depreciation and amortization or 
property plant & equipment  -5,078  - -4,882  - 
Pension benefits actuarial valuation  -20,166  - -26,117  - 
ASHI benefits actuarial valuation  -11,639  - -12,012  - 
Total (Financial IPSAS Result)  -28,205  -1,320    -31,896  -5,010  
 
2  BUDGET PERFORMANCE2 
2.1  2019 WTO Income  
Table 2 WTO Income (kCHF)  
 Item  Budget  Receipts  Balance  
Contributions from WTO Members  195,500  195,500  - 
Miscellaneous Income  1,704  5,307  3,603  
Total  197,204  200,807  3,603  
 
2.1.  The total income of the WTO, excluding Trust Funds, amounted to CHF  200.8 million in 201 9. 
The amount  of CHF 3,603,496  representing the difference between the budgeted and actual 
miscellaneous income  is detailed below:  
Table 3 2019 Miscellaneous Income (kCHF)  
Item  Budgeted 
Miscellaneous Income 
2019  Income 2019  Balance 2019  
Contributions of Observer s 600 616 16 
Sale of Publications & Royalties  250 277 27 
Trust Fund s - Participation in Direct Costs 180 201 21 
Refund of Prior Year's Expenditure  150 3,735  3,585  
Rental of Meeting Rooms & Office Space 125 125 - 
Profit/Loss on Exchange  - -63 -63 
Other  399 416 17 
Total  1,704  5,307  3,603  
 
2.2.  Under Miscellaneous Income, the receipts from Contributions of Observers, Sale o f Publications 
and Trust Funds are in line with the projected receipts. The positive result under 'Refund from prior 
year' expenditure' comprises of  the transfer of CHF 3.3 million from  the Appellate Body Operating 
Fund and the release of a provision for le gal damages.  
2.3.  The loss on foreign exchange is linked to the evolution of the USD relative to the CHF during 
2019.   
2.4.  The receipts under item 'Other' mainly include insurance reimbursements for loss of earnings 
due to illness and the contribution to the admini strative costs  of the WTO  from the EIF 
(CHF 162,000).  
  
 
1 All balances are p resented in thousands of Swiss Francs. As  a result , details may not add to totals due 
to rounding . WT/BFA/W/52 7 
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  2.2  Consolidated WTO Budget Performance  
Table 4 2019 Consolidated WTO Budget Performance  
(WTO Secretariat and Appellate Body and its Secretariat) (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  i) Staff Remuneration  88,530  83,513  5,016  
    ii) Staff Pension & Post -
Employment Benefits  22,110  22,062  48 
    iii) Staff Health & Invalidity 
Insurance  5,944  5,933  11 
    iv) Staff Family & 
International Benefits  13,021  10,399  2,623  
    v) Other Staff Expenditure  1,810  2,995  -1,185  
  2. Temporary 
Assistance  i) Short -Term Staff  9,033  14,674  -5,640  
    ii) Consulting  6,641  4,777  1,864  
    iii) Panellists & Appellate 
Body Member Fees  1,606  1,521  85 
A Staffing Resources Total     148,696  145,874  2,822  
B Other 
Resources  3. General 
Services  i) Telecommunication & 
Post 831 487 344 
    ii) Contractual Services & 
Maintenance  11,123  10,472  651 
    iii) Energy & Supplies  2,251  1,267  984 
    iv) Documentation & 
Publication  1,479  1,446  33 
    v) Other / Miscellaneous  88 38 51 
  4. Travel & 
Hospitality  i) Travel  7,234  7,123  111 
    ii) Hospitality  216 139 77 
  5. 
Implementing 
Partners  i) Implementing Partners  213 428 -215 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  1,430  1,689  -259 
    ii) Rental & Leasing of 
Equipment  920 523 396 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 273 -193 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total     27,065  25,086  1,979  
C Operating 
Funds and 
ITC 8. Contributions 
to ITC & Special 
Reserves  i) Contribution to ITC  18,243  18,243  - 
    ii) Appellate Body 
Operating Fund  2,000  2,000  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation 
Fund 600 3,600  -3,000  
C Operating Funds and ITC Total   21,443  24,443  -3,000  
Grand Total     197,204  195,403  1,801  
 
Table 5 2019 Consolidated Expenditure (kCHF)  
 
Budget  Actual  Balance  
WTO Secretariat  189,624  188,414  1,210  
Appellate Body and its Secretariat  7,580  6,989  591 
Grand Total  197,204  195,403  1,801  
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  2.3  2019 WTO Secretariat Budget Performance  
Table 6 2019 WTO Secretariat Budget Performance (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  i) Staff Remuneration  85,269  80,676  4,593  
    ii) Staff Pension & Post -
Employment Benefits  21,380  21,458  -78 
    iii) Staff Health & Invalidity 
Insurance  5,765  5,747  18 
    iv) Staff Family & 
International Benefits  12,661  9,985  2,676  
    v) Other Staff Expenditure  1,767  2,898  -1,131  
  2. Temporary 
Assistance  i) Short -Term Staff  8,978  14,321  -5,343  
    ii) Consulting  6,616  4,773  1,844  
    iii) Panellists   815 1,041  -226 
A Staffing Resources Total     143,252  140,898  2,354  
B Other 
Resources  3. General 
Services  i) Telecommunication & Post  822 487 335 
    ii) Contractual Services & 
Maintenance  11,105  10,472  633 
    iii) Energy & Supplies  2,231  1,264  967 
    iv) Documentation & 
Publication  1,469  1,446  23 
    v) Other / Miscellaneous  87 38 49 
  4. Travel & 
Hospitality  i) Travel  7,184  7,113  71 
    ii) Hospitality  215 139 76 
  5. Implementing 
Partners  i) Implementing Partners  213 428 -215 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  1,405  1,689  -284 
    ii) Rental & Leasing of 
Equipment  920 523 396 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 273 -193 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total     26,929  25,073  1,856  
C Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  i) Contribution to ITC  18,243  18,243  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation Fund  600 3,600  -3,000  
C Operating Funds and ITC Total    19,443  22,443  -3,000  
Grand Total      189,624  188,414  1,210  
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  2.3.1   Part A - Staffing Resources  
2.5.  Part A comprises  expenditure for regular staff such as salary , pension , health insurance , death 
and invalidity insurance , staff benefits , and expenditure related to removal, installation and 
separation of staff members. Expendit ure for short -term staff, consultants and panellists is also 
included under this Part.  
2.3.1.1   Staff Expenditure  
Figure 6 Comparison Budget/Expenditure for Regular Staff (kCHF)  
 
 
2.6.  Under Staff Remuneration, the expenditure is  slightly below budget, which is due to the high 
number of vacant posts in 2019.  
2.7.  Under Staff Pension and Post -Employment Benefits, the pension contributions for regular staff 
as well as retired staff are included. The over -spending under this item relates to an over -
expenditure of CHF 213,000 under the health premiums of retirees.  
2.8.  Under Staff Health & Invalidity Insurance, the contribution of regular staff to the WTO health 
insurance has been fully expensed , with an allocation of CHF 569,000 to the Special Reserve Account 
for medical premiums. Under the death and invalidity insurance, a small saving was realised.  
2.9.  The savings u nder Staff Family & International Benefits, relate to  dependency allowances  and 
home leave . 
2.10.   Under Other Staff Expenditure, the overspe nding  relates to Travel and Removal, Separation 
Grant, Terminations and US Taxes . This is slightly compensated by a saving under Installation Grant.  
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  2.3.1.2   Temporary Assistance Expenditure  
Figure 7 Comparison of Budget  and Expenditure for Temporary Assistance (kCHF)  
 
2.11.   The budget line for short -term staff includes the expenditure for temporary assignments of 
CHF 7.4 million, Translators paid under short -term contracts of CHF 4.3 million, Interpreters' 
expenditure of CHF 1.9 m illion and Interns of CHF 0.8 million.  
2.12.   The main over -expenditure under temporary assignments is due to the recruitment of 
additional short -term staff for the organization's needs as well as replacements for staff members 
on leave without pay, on long -term sick leave and filling of vacant posts on a temporary basis. This 
also includes interns.  
2.13.   Under Translation and Interpretation,  a small saving was realised under Translation, which 
was partly offset by an overspending on Interpretation (CHF 122,000) . 
2.14.   Under Consultants, the saving is due to  a lower expenditure -rate under IT consultants and 
the Human Resources Training Programme.  This was further enhanced by the fact that a lot of 
projects and training courses were put on hold towards the end of the year during budget 
discussions . 
2.15.   Under Panellists'  Fees, the overspending of CHF 226,000 is due to the significant increase in 
activity since 2018.  
2.3.2   Part B - Other Resources  
2.16.   Part B comprises the budget and expenditure for general services, travel and hospitality, 
activities jointly funded  by the WTO and third parties as well as capital and financial expenditure.  
  
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  2.3.2.1   General Services  
Figure 8 Comparison B udget  of the Expenditure and for General Services (kCHF)  
 
2.17.   The saving s under Telecommunication and Post  relate to the economies the Secretariat has 
realised over the past in using modern technologies for postal delivery.  
2.18.   Under Contractual Services and Main tenance, the overspending under the IT Service Desk 
and the contribution to the UN International Computing Centre (UNICC) is more than offset by a 
saving under the external security provider.  
2.19.   Under Energy and Supplies, the saving s mainly relate to reduced expenditure under office 
supplies, IT supplies and documents reproduction.  In addition, savings have been realised under 
electricity and gas & fuel.  
2.20.   Under Documentation and Publications , the expenditure is in line with the budget . Over-
expenditure under Media -and Public Relations and library subscriptions have been compensated by 
savings under Publications.  
2.21.   Under Other/Miscellaneous, the expenditure under Membership Fees and Advertising was 
lower than originally projected . 
2.22.   With respect to  Financial Regulation 22, the following multi -year contracts exceeding 
CHF 2 million have been awarded for 2019:  
i. Physical Security: CHF 17.96 million over the period 1 January 2019 until 
31 December  2023. 
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  ii. Cleaning Services: CHF 5 million over the period 1 January 2019 until 
31 December  2023. 
iii. United Nations International Computing Centre: USD 4.72 million over the period 
1 January 2020 until 31 December 2021 . 
iv. Multi-technical maintenance for the WTO building: CHF 2.2 million over the period 
1 January  2020 until 31 December 2024 . 
2.3.2.2   Travel and Hospitality  
Figure 9 Comparison of the Budget  and Expenditure for Travel and Hospitality (kCHF)  
 
2.23.   The budget line Travel includes the expenditure for travel related to technical assistance 
(CHF 3.9 million), Panellists' travel (CHF 0.8 million), travel related to HR training 
(CHF 0.145  million), recruitment travel (CHF 0.134 million) and divisional travel. This also includes 
the insurance for the travel security and the medical as sistance to WTO travellers of CHF 0.220 
million.  The slight saving is mainly due to the fact that travel was paused during the last two months 
of the year . 
2.24.   The saving s under Hospitality  are due to a very strict management of the hospitality budget , 
particu larly under the divisional budgets and under the human resources training programme . 
  
WT/BFA/W/52 7 
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  2.3.2.3   Implementing Partners  
Figure 10 Comparison of the Budget  and Expenditure for Implementing Partners (kCHF)  
 
2.25.   Implementing Partners  represent events that are partially or fully funded by the WTO and 
executed by third -party organization s, contributions to professional networks, contributions to the 
Staff Assistance Fund and contributions to the International Labour Organization (ILO) 
Administrative Tribunal.  
2.26.   The overspending is related to an outsourced IT project , an overspending on the WTO essay 
award and a provision for potential legal damages.  
2.3.2.4   Capital Expenditure  
Figure 11 Comparison of the Budget  and Expend iture for Capital Expenditure (kCHF)  
 
2.27.   The overspending under Procurement of fixed assets is due to the replacement of old furniture 
in the offices of the North Wing of the CWR building with ergonomic furniture . This over -expenditure 
is partly offset by savings under Computing Hardware  and Security Equipment . 
2.28.   Under Rental and Leasing  of Equipment, a saving was realized, which is partly due to the 
reduction of printing equipment from 3 to 2 black -and-white printers  and due to the fact that a new 
strategy f or the WTO printing equipment is being developed.  
 
WT/BFA/W/52 7 
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  2.3.2.5   Financial Expenditure  
Figure 12 Comparison Budget/Expenditure for Financial Expenditure (kCHF)  
 
2.29.   The Financial Expenditure includes the reimbursement of the 50 -year interest -free loan for 
the new administrative building of the WTO, as well as bank and interest charges. Since the end of 
March  2015, the WTO's main banks are charging negative interest on the current account balances, 
above the negotiated threshold amount  of CHF 50 million. The WTO also negotiated special 
conditions on an additional envelope CHF 25 million on which the bank only charges a negative 
interest rate of -0.40% instead of the usual -0.75% . The original expenditure under negative interest 
of CHF  542,664 as at the end of 2019 has been partially offset by the positive result of interest on 
investments in USD Money Markets of CHF 295,044.  
2.3.3   Part C - Operating Funds and ITC  
2.30.   Part C is related  to the contribution to the budget of the International Trade Centre and 
allocation of funds to the Operating Funds of the WTO.  
Figure 13 Comparison Budget/Expenditure for Operating Funds and ITC (kCHF)  
 
 
WT/BFA/W/52 7 
- 19 - 
 
  2.31.   The CHF 18.2 million cont ribution to the International Trade Centre has been transferred in 
full. 
2.32.   The Ministerial Conference Operating Fund was replenished at the beginning of the year.  
2.33.   The Building Renovation Fund (BRF) was established at the end of 2015 in order to reserve 
funds  to finance medium and long -term building and infrastructure maintenance and renovation. 
Following the guidelines of the Building Renovation Fund, it was replenished with CHF 0.6 million at 
the beginning of 201 9. An additional CHF 3 million  was allocated a t the end of 201 9, as an exercise 
of prudence, given that the amount to be collected over a 10 -year period is CHF 25 million.  
2.3.4   Transfers between Budgetary Sections  
2.34.   In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order  to cover excess expenditure over approved appropriations 
by using savings from other budgetary sections. Authority is sought to increase these appropriations 
accordingly, as follows:  
Table 7 Proposed Transfers between Sections of the 201 9 WTO Budget (kCHF)  
Part Section  Budget  Balance  Proposed 
Transfers  Revised 
Appropri -
ations  Expenditure  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  126,842  6,079  -4,869  121,973  120,763  1,210  
  2. Temporary 
Assistance  16,409  -3,725  3,725  20,135  20,135  - 
A Staffing Resources 
Total  143,252  2,354  -1,144  142,108  140,898  1,210  
B Other 
Resources  3. General 
Services  15,713  2,006  -2,006  13,707  13,707  - 
  4. Travel & 
Hospitality  7,398  146 -146 7,252  7,252  - 
  5. 
Implementing 
Partners  213 -215 215 428 428 - 
  6. Capital 
Expenditure  2,325  112 -112 2,213  2,213  - 
  7. Financial 
Expenditure  1,280  -193 193 1,473  1,473  - 
B Other Resources Total  26,929  1,856  -1,856  25,073  25,073  - 
C 
Operating 
Funds and 
ITC 8. 
Contributions 
to ITC & 
Special 
Reserves  19,443  -3,000  3,000  22,443  22,443  - 
C Operating Funds and 
ITC Total  19,443  -3,000  3,000  22,443  22,443  - 
Grand Total  189,624  1,210  0 189,624  188,414  1,210  
 
2.4  2019 Budget Performance of the Appellate Body and its Secretariat  
2.35.   The budget for the Appellate Body and its Secretariat follows the same structure as that of 
the WTO Secretariat. Expenditures  incurred by the Appellate Body and its Secretariat are divided 
into permanent  costs and variable costs linked to the number of appeals  handled by the Appellate 
Body.  
  WT/BFA/W/52 7 
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  Table 8 2019 Budget Performance of the Appellate Body and its Secretariat (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  i) Staff Remuneration  3,261  2,837  423 
    ii) Staff Pension & Post -
Employment Benefits  730 605 125 
    iii) Staff Health & Invalidity 
Insurance  179 186 -7 
    iv) Staff Family & 
International Benefits  361 414 -53 
    v) Other Staff Expenditure  43 97 -54 
  2. Temporary 
Assistance  i) Short -Term Staff  55 352 -297 
    ii) Consulting  25 4 21 
    iii) Appellate Body Member 
Fees 791 480 311 
A Staffing Resources Total    5,444  4,976  468 
B Other 
Resources  3. General 
Services  i) Telecommunication & 
Post 10 - 10 
    ii) Contractual Services & 
Maintenance  18 - 18 
    iii) Energy & Supplies  20 3 17 
    iv) Documentation & 
Publication  10 - 10 
    v) Other / Miscellaneous  2 - 2 
  4. Travel & 
Hospitality  i) Travel  50 10 40 
    ii) Hospitality  1 - 1 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  25 - 25 
B Other Resources Total    136 13 123 
C 
Operating 
Funds 
and ITC  8. Contributions 
to ITC & Special 
Reserves  ii) Appellate Body 
Operating Fund  2,000  2,000  - 
C Operating Funds and ITC Total   2,000  2,000  0 
Grand Total     7,580  6,989  591 
 
2.36.   The expenditure incurred by the Appellate Body and its Secretariat amounted to 
CHF 6.989 million in 201 9. This resulted in  a budgetary saving of CHF 0. 591 million, which is mainly 
due to savings under  Appellate Body Member fees  and Staff Expenditure.  
2.37.   The CHF 2 million contribution to the Appellate Body Operating Fund , which covers the 
variable costs associated with appeals  (being  daily fees and travel costs of Appellate Body Members ) 
was directly allocated to the A ppellate Body Operating Fund at the beginning of the year. At the end 
of the year, the total accumulated b alance of the Appellate Body Operating Fund over the previous 
years has been released and transferred to  Miscellaneous  Income of prior years.  
  WT/BFA/W/52 7 
- 21 - 
 
  2.38.    The detail of the expenditure  incurred by the A ppellate Body Operating Fund, in 201 9, was 
as follows:  
Table 9 Appellate Body Operating Fund Expenditure (kCHF)  
Statement of Expenditure of the Appellate Body Operating Fund  kCHF  
Opening Balance as at 1  January  2019  2,560  
Contribution from the regular budget  2,000  
Sub-Total  4,560  
Expenditure in 2019:    
Appellate Body Members' daily fees  -695  
Appellate Body Members' travel expenditure  -438  
Consultants for oral hearings  -101  
Postage  -  
Total expenditure  -1,234  
Closing balance as at 31  December  2019  3,327  
 
2.5  Expenditure by Key Activities and Projects  
Figure 14 Expenditure by Key Activities and Projects (kCHF)  
 
 
2.39.   The expenditure  by key activities and projects is detailed in the following sections:  
2.5.1   Dispute Settlement  
Table 10 Dispute Settlement Expenditure – Panels (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  71 1,354  -1,283  
    ii) Consulting  - 130 -130 
    iii) Panellists ' Fees  790 1,041  -251 
A Staffing Resources Total    861 2,525  -1,664  
B Other 
Resources  3. General 
Services  i) Telecommunication & 
Post 10 6 4 
  4. Travel & 
Hospitality  i) Travel  730 833 -103 
B Other Resources Total      740 839 -99 
Grand Total     1,601  3,364  -1,763  
WT/BFA/W/52 7 
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  2.40.   During 2019, the WTO received 19 requests for consultations in new cases. In addition, one 
request was filed in late December 2018 and circulated to Members on 8 January 2019. In 2019, 
the DSB established panels in 13 separate proceedings covering 11 disti nct matters. One panel was 
also established to determine whether a party had complied with previous recommendations and 
rulings (so -called compliance panel). Despite the decline in the number of new cases in 2019, the 
overall level of dispute settlement ac tivity remained significant, with an average of 40 ongoing panel 
and arbitration proceedings each month. This was due to the fact that a large number of cases were 
initiated in 2018 and panels established during that year continued work in 2019. Fourteen p anel 
reports were circulated in 2019. Eleven of these concerned original disputes and three concerned 
disputes regarding compliance. Among the panel reports circulated, four related to disputes where 
Members reached mutually agreed solutions. Arbitrators i ssued three decisions on the permissible 
level of retaliation as a temporary remedy in the event of non -compliance. In addition, panels in 
three disputes suspended their proceedings at the request of one or more of the parties.  
2.41.   With respect to staff under short-term contract s, there was an over -expenditure of 
CHF 1.28 million  relative to the amount budgeted for 2019. Compared with 2018, total expenditure 
for this item increased by CHF  235,000. This includes the expenditure for short -term lawyers as well 
as other temporary staff hired to support dispute settlement divisions. This higher figure is largely 
due to the need for additional short -term resources to deal with the continued high workload arising 
from dispute settlement activities.   
2.42.   There was an over -expenditure of CHF 251,000 in 2019 for Panellist s' fees, which in total  
amounted to CHF 1 .04 million . This represents a change as compared to 2018, where there was a 
surplus of approximately CHF 230,000 for this item.  The increase of expenditure on panellis t fees 
from 2018 to 2019 is largely explained by an unprecedented amount of panel meetings taking place 
in 2019.3  
2.43.   Another reason that explains the increase in expenditure in 2019 is the timing of the  
processing of panel expenses. Panellist s' fees are only processed after panel meetings have been 
held in Geneva.  As a large number of panels were established in the last quarter of 2018, the 
budgetary effects of these  new cases were only felt in 2019 beca use a substantial proportion of the 
first meetings of those panels took place in 2019.  
 
3 For example , in the period between June and December 2019 , a total of 28 panels and arbitrations 
held 33 meetings in Geneva (internal and with parties ). WT/BFA/W/52 7 
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  Table 11 Dispute Settlement Expenditure – Appeals (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  55 352 -296 
    ii) Consulting  - - - 
    iii) Appellate Body 
Member Fees  791 480 311 
A Staffing Resources Total    846 832 15 
B Other 
Resources  3. General Services  i) Telecommunication 
& Post  10  - 10 
B Other Resources Total    10 0 10 
C Operating 
Funds and ITC  8. Special Reserves  ii) Appellate Body 
Operating Fund  2,000  2,000  - 
C Operating Funds and ITC Total    2,000  2,000  0 
Grand Total    2,856  2,832  24 
 
2.44.   Dispute settlement activity related to appeals was high in 2019. Twelve appeals were pending 
at the beginning of 2019. Over the course of the year, e ight new appeal proceedings were initiated. 
The Appellate Body completed its work on one large appeal filed in 2017 (Compliance proceedings 
in US — Large  Civil Aircraft (2nd complaint) ), and work on another large appeal filed in 2018 
(Australia  – Tobacco  Plain Packaging ) required a significant portion of the resources of the Appellate 
Body and its Secretariat throughout 2019. In total, six Appellate Body reports were circulated in 
2019, despite the continuing vacancy of four positions on the Appellate Body throughout 201 9.  
2.45.   Following the expiry of the terms of office of two of the remaining Appellate Body members 
on 10 December 2019, six out of seven positions on the Appellate Body were vacant and no new 
appeals could be heard by the Appellate Body. The Appellate Body sus pended its work on all but 
three pending appeals, in which the oral hearings had already taken place in 2019.  
2.46.   Under dispute settlement expenditure related to appeals, the over -expenditure for temporary 
staff is, as under the panel stage, linked to the exp enditure for short -term lawyers and short -term 
support staff hired to work on the large number of pending appeals. These expenditures were more 
than compensated by savings from vacant posts in 2019.  
2.5.2   Information Technology  
Table 12 Information Technology Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  40 385 -345 
    ii) Consulting  1,763  739 1,024  
A Staffing Resources Total    1,803  1,123  680 
B Other  
Resources  3. General Services  i) Telecommunication & Post  324 302 22 
    ii) Contractual Services & 
Maintenance  4,195  4,523  -328 
    iii) Energy & Supplies  270 54 216 
    v) Other / Miscellaneous  - - - 
  4. Travel & 
Hospitality  i) Travel  15 32 -17 
    ii) Hospitality  1 - 1 
  5. Implementing 
Partners  i) Implementing Partners  - 25 -25 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  1,160  836 324 
    ii) Rental & Leasing of 
Equipment  132 130 2 
B Other Resources Total    6,097  5,901  196 
Grand Total     7,900  7,024  876 
 
2.47.   The cost of running day to day operation s in 2019  increased  to CHF  6 million (75% of the 
budget) but this did not reflect the actual yearly rate  as there was a  freeze of most expenses in WT/BFA/W/52 7 
- 24 - 
 
  November  and December, which led  around CHF 0.250 million of expenditure originally foreseen for 
2019 being  deferred . Within the CHF 4.5 million of contractual services and maintenance, the largest 
item is the United Nations International Computing Centre (UNICC) with CHF  1.8 million. UNICC 
provides a large portion of all WTO infrastructure services. The second largest cost is constant with 
the IT Service Desk at CHF 1.1 million. Cost of enterprise software like Microsoft (CHF 0.4million), 
Oracle (CHF 0.150 million ) and maintenance of in -house developed applications like Documents 
OnLine is currently stable but expected to grow as the WTO's dependency on an increased number 
of digital solutions is also growing. Procurement of hardware was slightly down and 
telecommu nications cost stable due to the end of year expenditure paus. The telecommunication 
costs remained stable.  
2.48.   CHF 1 million worth of  IT projects was delivered in  2019. Renewal of infrastructure to cater 
for expanded digital needs took the largest share (CHF  0.47 million). Software development brought 
great new solutions to the delegates and the public ( on Disputes, a new site for trade monitoring, a 
new Data portal and a user -friendly site for information dissemination on Environment Protection) 
while many m ore were worked on and were in progress  (Quantitative restrictions and Anti -Dumping 
notifications, GATT Disputes and Goods Schedules information dissemination). Software 
development was done for a relative low cost (CHF  0.265  million) , driven by the genera lization of 
low cost near shore providers, agile technology requiring less time and more often done by internal 
staff. The rest was spent on new security solutions (Public Key Infrastructure, completion of 
implementation of Security Operation Center) and d eployment of Software as a Service (SaaS) off -
the shelf solutions (Travel Expense management, Technical Assistance e -training).  
2.49.   Out of the CHF 1.7 million allocated to projects, ITSD only expensed CHF 1 million. The 
CHF 0.700 million underspend  is split in  three ways: CHF 0.140 million was not expensed because 
of the freeze in Nov/Dec, CHF 0.300 million was not spent because risks  were managed  differently 
and solutions validated via small scale proof s of concept rather than engaging all the funds, and 
CHF 0.260 million because the Division did not have the internal resources to drive projects quickly 
enough.  
2.5.3   Technical Assistance  
Table 13 Technical Assistance Related Training Courses by Expenditure Line (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  6 82 -75 
    ii) Consulting  305 114 191 
A Staffing Resources Total    311 195 115 
B Other 
Resources  3. General 
Services  i) Telecommunication & 
Post 67 1 66 
    iii) Energy & Supplies  20 10 10 
    iv) Documentation & 
Publication  31 3 28 
  4. Travel & 
Hospitality  i) Travel  4,070  3,941  129 
    ii) Hospitality  50 14 36 
B Other Resources Total    4,237  3,968  270 
Grand Total    4,548  4,163  385 
 
2.50.   In 2019, the regular  budget financed the same types of TA activities as in previous years:  
i. Geneva -based activities for generalists, including three eight -week Advanced Trade 
Policy Courses, which constitute the end of the progressive learning path for 
generalists; one three -week introduction course for LDCs; and two Geneva Weeks for 
Members and Observers without a permanent mission in Geneva.  
ii. Geneva -based thematic activities organised mainly at an advanced level for a duration 
of between one and three weeks depending on the subject and pedagogical approach. 
The subjects covered by these advanced courses included Accessions, Agriculture 
Notifications, Dispute Settlement, General Agreement on Trade in Services, 
Government Procurement Agreement, Import Licensing, Regional Trade Agreement s, WT/BFA/W/52 7 
- 25 - 
 
  Sanitary and Phytosanitary Measures, Technical Barriers to Tr ade, etc. Many of these 
advanced courses included a specific focus on transparency provisions and tools.  
iii. Geneva -based symposia organised in connection with the work and at the request of 
WTO bodies on a variety of subjects including the implementation of A rt 66.2 of the 
TRIPS Agreement, Agriculture policy, Trade and public health, New and emerging 
health technologies, SPS approval procedures, etc. These symposia helped inform the 
membership on new developments in these domains to facilitate and improve the 
relevance of their work in the committees concerned.  
iv. Approximately 80 National activities on all possible WTO -related subjects, at the 
request of Members ' and Observers ' national authorities.  
v. Miscellaneous activities such as the funding of consultants perf orming the advisory role 
under Art 27.2 of the DSU and some outreach activities for non -governmental 
audiences (journalists, members of parliament, etc.).  
2.5.4   Security  
Table 14 Security Expenditure (kCHF)  
Part Section  Line Account 
Descr iption  Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  Consulting 
Firms & 
Employment 
Agencies  - 9 -9 
A Staffing Resources Total      - 9 -9 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Building 
Maintenance  225 118 107 
      Contractual 
Services  3,603  3,185  418 
      Equipment 
Maintenance  250 160 90 
    iii) Energy & 
Supplies  Supplies  25 18 7 
  4. Travel & 
Hospitality  i) Travel  Insurance / 
Participants  110 110 - 
  6. Capital 
Expenditure  i) Procurement 
of Fixed 
Assets  Security 
Equipment  155 48 107 
B Other Resources Total      4,368  3,638  730 
Grand Total      4,368  3,647  721 
 
2.51.   The security equipment was updated in 2017 and 2018, resulting in  savings under Building 
and Equipment Maintenance in 2019 .  
2.52.   The item Contractual Services relates to the outsourced security contractor. Due to very strict 
management  of the contract, a saving of CHF 0.4 million has been realized.  
2.53.   The saving  under Security Equipment relates to the deferral of the purchase of x-ray machine s 
to 2020 . WT/BFA/W/52 7 
- 26 - 
 
  2.5.5   Building Maintenance  
Table 15 Building Maintenance Expenditure (kCHF)  
Part Section  Line Account 
Description  Budget  Expenditure  Balance  
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Contractual Services  946 928 18 
   Equipment 
Maintenance  7 1 6 
   Building Maintenance  1,200  1,260  -60 
   Insurance  175 103 72 
  iii) Energy & 
Supplies  Electricity  595 283 312 
   Water  54 55 -1 
   Gas & Fuel  450 379 71 
   Supplies  60 47 13 
B Other Resources Total   3,487  3,055  432 
 
2.54.   The expenditure  under  Building Maintenance  is globally in line with the budget . A saving under 
electricity has been realised  which is mainly due to a mild winter, ongoing electricity -saving 
measures and a new contract.  
2.5.6   Documents Reproduction  
Table 16 Documents Reproduction and Distribution Expenditure (kCHF)  
Part Section  Line Account 
Description  Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term 
Staff Short -Term 
Staff / Salary  200 374 -174 
    ii) Consulting  Consulting 
Firms & 
Employment 
Agencies  - 78 -78 
A Staffing Resources Total      200 452 -252 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Equipment 
Maintenance  60 34 26 
    iii) Energy & 
Supplies  Supplies  524 254 270 
    iv) 
Documentation & 
Publication  Publications  - -1 1 
  6. Capital 
Expenditure  ii) Rental & 
Leasing of 
Equipment  Rental and 
Leasing of 
Equipment  740 329 411 
B Other Resources Total      1,324  616 708 
Grand Total       1,524  1,069  455 
 
2.55.   In 2019, the documents reproduction area continued to decrease its expenditure on all budget 
lines for a total of 70 8 kCHF. A main contribution to these savings (411  kCHF) was the replacement 
of the printing equipment, which was successfully concluded in August followi ng a competitive 
tender. The new generation equipment produces better print quality, eliminates the need for daily 
maintenance, enables the automation of certain tasks, and, when compared with the previous 
contract, comes with a significant saving over the  leasing period (over 400  kCHF over 60 months). 
Further work will continue to reduce unnecessary printing, with the promotion of electronic 
distribution methods amongst others.  
  WT/BFA/W/52 7 
- 27 - 
 
  2.5.7   Human Resources Training Program me 
Table 17 Human Resources Training Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing  
Resources  2. Temporary Assistance  ii) Consulting  1,075  753 322 
A Staffing Resources Total     1,075  753 322 
B Other  
Resources  4. Travel & Hospitality  i) Travel  220 145 75 
    ii) Hospitality  76 37 39 
B Other Resources Total     296 182 115 
Grand Total      1,371  935 437 
 
2.56.   In 2019, staff participated in approximately 500 learning activities . These included divisional 
retreats, executive coaching, mentoring, sessions on leadership , performance management, IT 
workshops and language courses.  
2.57.   A mandatory e -learning programme Resp ect & Harmony@WTO , based on the policy "Right to 
work in an Environment Free from Discrimination, Harass ment and Abuse of Authority" was launched 
in 2019. Briefing  sessions, which included the use of actors, were also conducted to accompany the 
programme. Both the e -learning programme and the briefing sessions served to heighten staff 
members' awareness of t heir rights and obligations pertaining to prohibited conduct and to highlight 
the importance of the manager's role in promoting a harmonious working environment . 
2.58.   In addition  to e-learning, LinkedIn learning was also promoted to staff as a means of acquirin g 
knowledge and skills, particularly IT skills, in a flexible and timely manner.  
2.59.   With respect to Gender and Inclusion, the Learning Service launched an in -house survey 
aimed at raising awareness and gaining an understanding of staff members' view s on gende r. Among 
the various recommendations was the need to ensure clearer communication regarding the 
organization 's stance  on gender & diversity and to conduct ongoing sessions on Unconscious Biases. 
Subsequent to the survey, the HR Learning Service , in conjunc tion with the WTO Library , hosted a 
trilogy of Gender Forum Events aimed specifically at seeking male staff members' perspective on 
Gender and Inclusion.  
2.60.   Continued emphasis on transfer of knowledge and sharing of best practice s was achieved via 
learning n etworks. A peer -coaching network for new supervisors was established to assist 
participants to better understand their people management role and to provide those present with 
an opportunity to hone their coaching skills.  
2.61.   An editors' network was also laun ched to identify and address participants' writing and editing 
needs and to ensure a consistency of writing style across the Secretariat.  
2.62.   The expenditure rate under the Human Resources Training Programme in 2019 was 68% with 
saving s of CHF 437,000. The savings were mainly realized under consulting agencies . WT/BFA/W/52 7 
- 28 - 
 
  2.5.8   Public Forum  
Table 18 Public Forum Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  100 170 -70 
    ii) Consulting  - 3 -3 
A Staffing Resources Total  100 173 -73 
B Other 
Resources  3. General 
Services  ii) Contractual Services & 
Maintenance  30 9 21 
    iii) Energy & Supplies  30 41 -11 
    iv) Documentation & 
Publication  60 130 -70 
  4. Travel & 
Hospitality  i) Travel  110 59 51 
    ii) Hospitality  20 19 1 
  6. Capital 
Expenditure  ii) Rental & Leasing of 
Equipment  - 4 -4 
B Other Resources Total  250 261 -11 
Grand Total    350 434 -84 
 
2.63.   The Public Forum is the WTO 's largest annual outreach event. It provides a unique platform 
for heads of states, parliamentarians, leading global business people, students, academics and non -
governmental organizations to come together  and debate on a wide range of WTO issues and on 
some of the major trade and development topics of the day. Over 1,500 participants attend the 
Forum each year.  
2.64.   The trading landscape is increasingly characterized by changes in technology, production 
methods, employment patterns, demand patterns, demographic s, and climate – to name a few. The 
WTO Public Forum of 2018 considered  some of the changes influencing the trading system and how 
global trade would evolve over the coming decades. The Public Forum 2019 went a step further and 
considered how trade, and th e trading system could adapt to these changes.  
2.65.   With respect to expenditure , the Public Forum  2019 lasted one day longer than previous Public 
Forums, which had not been foreseen in the budget . Therefore, the Public Forum 2019 resulted in 
an overspending of CHF 84,000 which was mainly due to the higher expenditure for interpreters 
(under Short -term Staff) who had to cover one additional day. The over spending under Media -and 
Public Relations mainly related to audiovisual productions and photo services which also covered one 
additional day.  
2.5.9   Open Day  
Table 19 Open Day  Expenditur e (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  - 2 -2 
A Staffing Resources Total  0 2 -2 
B Other 
Resources  3. General 
Services  ii) Contractual Services & 
Maintenance  13 37 -24 
    iii) Energy & Supplies  21 13 8 
    iv) Documentation & 
Publication  30 10 20 
  4. Travel & 
Hospitality  ii) Hospitality  - 1 -1 
  6. Capital 
Expenditure  ii) Rental & Leasing of 
Equipment  - 39 -39 
B Other Resources Total  64 100 -36 
Grand Total    64 103 -39 
 WT/BFA/W/52 7 
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  2.66.   The WTO welcomed close to 3,000 visitors to its headquarters for the fifth WTO Open Day in 
June 2019. Visitors enjoyed guided  tours of the building, gained insights into the work of the WTO, 
sampled the national cuisines of a range of WTO members and took part in many other activities 
organized throughout the day. One of the day 's key events was a special award presented by the 
Director -General to Geneva 's diplomatic police.  
2.67.   The overspendings under contractual services and under rental and leasing of equipment 
related to the enhancement of the security for this event. The number of security guards had to be 
significantly increase d for that day and special tents had to be rented for additional security check 
points.  
3  EXPENDITURE PER OUTPUT CHAPTER   
3.1  Background  
3.1.  The Budget for the biennium 2016 -2017 was for the first time presented by Outputs, in addition 
to the traditional presentation  of the budgeted expenditure by budget line. Hence, the inclusion of 
the Expenditure by Output Chapter in this Financial Performance Report.  
3.2.  The actual expenditure for 201 9 is presented  in the table below:  
3.2  2019 Expenditure by Output Chapter Com pared to the Output Budget  
Table 20 2019 Expenditure by Output Chapter  
Output  Budget 
2019  % of total  Expenditure 
2019  % of total  Difference 
Budget vs 
Expenditure  
1 Facilitating Negotiations  9,000  5% 8,369  4% 631 
2 Administering Agreed WTO Rules  45,000  23% 50,115  26% -5,115  
3 Monitoring Trade Policies  27,000  14% 25,232  13% 1,768  
4 Settling Disputes  44,000  22% 35,330  18% 8,670  
5 Capacity building  42,000  21% 41,356  21% 644 
6 Assisting Accessions  5,000  3% 5,043  3% -43 
7 Conducting Research  13,704  7% 15,257  8% -1,553  
8 Reaching out  11,500  6% 14,701  8% -3,201  
Grand Total  197,204  100%  195,403  100%  1,801  
 
3.3  Facilitating Negotiations  
3.3.  This Output Chapter includes various committees and negotiating groups related to the Doha 
Development Agenda negotiations such as the Trade Negotiations Committee , other negotiating 
groups  and special sessions.  
3.4.  At the end of 2019, the expenditure was  in line with the projection . 
3.4  Administering Agreed WTO Rules  
3.5.  This Output Chapter includes the Ministerial Conference, all Committees related to the 
General  Council and its Subsidiary Bodies, Committees related to the Council for Trade in Goods and 
its Subsidiary Bodies, Committees related to the Council for Trade in Serv ices and its Bodies, and 
the Council for Trade -related Aspects of Intellectual Property.  The expenditure for 2019 exceeded 
the projection. This was mainly due to higher activity under  the Council for Trade in Goods and its 
Bodies as well as the related tra nslation costs and the General Council and its Bodies.  
3.5  Monitoring Trade Policies  
3.6.  This Output Chapter mainly comprises of all expenditure related to the WTO Trade Policy 
Review Body, Trade Policy Reviews and Trade Policy Monitoring. The expenditure for 201 9 was 
slightly lower than the projection . WT/BFA/W/52 7 
- 30 - 
 
  3.6  Settling Disputes  
3.7.  This Output Chapter includes the Dispute Settlement Body, as well as pre -dispute activities, 
panels, appeals and arbitrations. The actual expenditure for 201 9 is lower than expected. This is 
mainly due to the fact that the projection had been established in 2017 for the biennium 2018 -2019, 
and the evolution for this area in 2019 could not be foreseen.  
3.7  Capacity Building  
3.8.  This Output Chapter comprises all activity related to capacity building cou rses and training; the 
Aid for Trade work programme; and the contribution to the International Trade Centre (ITC). The 
actual expenditure for 201 9 was in line with the projection.  
3.8  Assisting Accessions  
3.9.  This Output Chapter includes all activities related to the support of accessions. The actual 
expenditure for 201 9 was at the level of the projection . 
3.9  Conducting Research  
3.10.   This Output Chapter relates to the WTO's publications such as the World Trade Report or the 
WTO Annual Report; research reports and papers; a s well as the management of WTO publications. 
The realised expenditure for 201 9 was slightly higher than  the projection . The increase was mainly 
in the areas of Trade statistics & monitoring, WTO Reports and Papers and Publications.  
3.10  Reaching Out  
3.11.   This Outpu t Chapter includes all outreach activities of the WTO, such as general press 
relations , general outreach to Members and the private sector , key events such as the Public Forum , 
the Open Day , and work done with other international organizations. The actual expenditure for 
2019 was higher than originally projected . The areas of increase included the areas dissemination 
of trade -related materials, press relations and work with other international organisations.  
  WT/BFA/W/52 7 
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  4  PERFORMANCE OF TRUST FUNDS  
4.1.  This part describes  the activities performed in 2019 using extra -budgetary funds, which are 
managed through Trust Funds. The flagship of the WTO's Trust Funds is the Global Trust Fund.  
4.1  Global Trust Fund  
Figure 15 Receipts and expenditures of the Global Trust Fund from 2011 -2019  
 
 
 
Table 21 Global Trust Fund - Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  12,609  13,600  
Transfer from TEVAL  - - 
Contributions received  6,242  7,375  
Interest on investments  -20 -21 
Total funds  18,831  20,954  
Contribution reimbursement to Netherlands  - - 
Total expenditures  -9,187  -8,345  
Balance as at 31  December  9,644  12,609  
 
4.2.  The Global Trust Fund was established in December  2001 to finance technical assistance 
programmes and training activities for developing and least -developed countries as well as 
economies in transition. One of the main purposes for creating a core Trust Fund was to consolidate 
the numerous extra -budgetary funds in a single Trust Fund, so as to provide a stable financial basis 
for the delivery of the Technical Assistance Plan adopted by Members. The activities supported by 
the Global Trust Fund are intended to: enhance institutional and human capacity in beneficiary 
countries; address trade policy issues and concerns; facilitate fuller participation of beneficiaries in 
the Multilateral Trading System; and encourage effective participation in the negotiations.  
4.3.  The WTO's technical assis tance and training programmes are primarily geared towards 
Government officials from WTO Members and acceding countries, who are directly responsible for 
WTO-related issues. In addition, academic and outreach programmes are geared towards a 
secondary broad er audience, including academics, civil society, parliamentarians and private sector 
representatives.  
4.4.  Trade -related Technical Assistance and training activities are carried out in accordance with a 
Biennial Technical Assistance and Training Plan ("the TA P lan"), which derives funding from both the 
regular budget and the Global Trust Fund.  
4.5.  The TA Plan identifies the objectives and types of activities to be delivered by the Secretariat 
for the period concerned. The TA Plan normally foresees a number of activi ties at the global and 
regional levels, to be delivered within a given year. The TA Plan also anticipates additional activities 
at the national level on the basis of specific requests by Members.  
 - 5.0 10.0 15.0 20.0 25.0 30.0
2011 2012 2013 2014 2015 2016 2017 2018 2019Millions CHFGlobal Trust Fund
Expenditures
Contributions received & Transfers
Available year-end balance
Technical Assistance Plan - TargetWT/BFA/W/52 7 
- 32 - 
 
  4.6.  The TA Plans are structured around a progressive learning st rategy designed in such a way as 
to: 
a. ensure that the beneficiaries are gradually moving to higher levels of learning;  
b. contribute to sustainable human and institutional capacity -building;  
c. strengthen inter -linkages among programmes;  
d. build synergies across su bject areas; and  
e. assure coherence and cost -effectiveness in the delivery of TRTA.  
4.7.  The WTO cooperates and forms partnerships when possible with relevant international bodies 
and agencies in order to deliver the TRTA efficiently, bearing in mind the specific  competencies of 
the partner organizations.  
4.8.  The Trade -related Technical Activity products  can be grouped broadly into five categories:  
a. E-learning/Self Training Courses  –Enabled through Information Technology. This approach 
is focused particularly on introd uctory and intermediate level training for both generalists 
and specialists.  
b. General WTO -related technical assistance and training  – Training activities for Government 
officials with a broad overall WTO responsibility and a general knowledge of the Multila teral 
Trading System. The main purpose is to initiate officials in the rules and functioning of the 
WTO and/or to raise the general level of knowledge and provide opportunities for them to 
enhance their skills.  
c. Specialized and advanced technical assistanc e training  – National/regional seminars and 
workshops as well as specialized courses. The focus is on providing in -depth training and 
enhancing skills that have a direct practical value in implementing WTO Agreements.  
d. Academic support for training and capa city building  – Activities that focus on building 
partnerships with trade policy -related academic community members in Member countries 
(e.g. workshops for university professors on WTO matters, support programmes for 
doctoral students, programme for visiting academics, research collaboration and 
document dissemination for universities etc.).  
e. Trainee programmes and internships  – These provide an opportunity for junior officials to 
get first hand exposure to the functioning of the Multilateral Trading S ystem and/or to 
provide support to the respective beneficiaries' regional secretariats.  
4.9.  In addition to the direct costs of the various training activities, some staff costs related to the 
delivery of the technical assistance activities are funded from the Global Trust Fund.  
4.10.   TRTA programmes implemented under the Global Trust Fund in 2019 were based on the 
Biennial Technical Assistance and Training Plan 2018 -2019.  
4.11.   Main activities implemented in 2019, many of which were undertaken in partnership with 
other ag encies and bodies, include general and specialized WTO -related technical assistance 
training, trainee programmes and internships and ad hoc programmes such as WTO Chairs 
Programme.  
4.12.   A new learning management system (LMS) was implemented in 2019 to host the e-learning 
courses. The new learning environment was parameterized and tested in 2018 and opened for 
registration in mid -January 2019. A series of new features and functionalities were consequently 
introduced to enhance the learning process (e.g. streamlin ed registration process, access to the 
course catalogue and interactive activities under a single account, flexible learning paths with 
possibility to download course certificates, or learning communities).  WT/BFA/W/52 7 
- 33 - 
 
  4.13.   Participants who had registered on the ECampus pl atform at the end of 2018 or beginning of 
2019 were able to finish their courses as both platforms ran in parallel from mid -January to end of 
March. The ECampus legacy platform was decommissioned at the end of March 2019.  
4.14.   The main focus in 2019 was to ensu re that participants familiarized themselves with the new 
platform, understood the new procedures, could register and take the courses easily. Hence, the E -
Learning team guided the participants in their learning process through different tools such as 
tutorials, chat sessions, infographics, face -to-face demos and e -mails. After a few months, most of 
the participants became acquainted with the new learning environment; consequently, the number 
of e-mails and messages received significantly decreased in the s econd part of the year.  
4.15.   The new WTO E -Learning platform offered a catalogue of 87 courses for the year 2019 (31 in 
English, 28 in French and 28 in Spanish). Five were made available in French and Spanish while a 
new course "Mainstreaming Trade in Action" w as launched in English in 2019.  
4.16.   Information on the "Technical Cooperation Handbook on Notification Requirements" was 
updated in the course "Transparency and the WTO - Notification Obligations" and also added in the 
course "The Multilateral Trade Agreements ". Some links and interactive elements were updated in 
20 courses to provide updated information or address connection issues.  
4.17.   In 2019, 6 ,473 participants registered in the new WTO E -Learning platform, created an LMS 
account and requested a total of 7 ,621 courses. In addition, 1 ,276 courses were completed in 2019 
in the previous platform by participants who were allowed to complete their course at the beginning 
of 2019 before that the platform was decommissioned. Therefore, a grand total of 8 ,897 courses 
were requested in English, French and Spanish. Among these 8 ,897 courses requested, 
5,846 courses were completed.  
4.18.   The success rate in 2019 courses was 68% with 3 ,998 successfully completed courses over a 
total of 5 ,846. 52% of successful participants obtained a certificate with distinction.  
4.19.   Participants from least -developed countries requested 2 ,395 courses, which represented 27% 
of the total of requests.   
4.20.   Participants from Africa requested 3 ,136 courses, which represented 35% of the tota l of 
requests.  
4.21.   52% of the 8 ,897 courses were requested by men while 48% were from women.  
4.22.   93 chat sessions took place in 2019 and around 291 multimedia elements were developed in 
English or adapted in French and Spanish. WTO E -Learning Communities were lau nched in English, 
French and Spanish in October 2019.  
4.23.   The E -Learning Unit continued to facilitate the implementation of blended learning. Tailored 
virtual classrooms were offered and hosted in the WTO E -Learning platform for face -to-face 
activities.  
4.24.   The training material is also made available for self -study  to TA non -beneficiaries . From 1 to 
15 January 2019, non -eligible candidates could complete an online form to access training material 
on the ECampus website. Therefore, training material for 46 self -study courses were made in total 
within that period: 25 in English; 16 in Spanish; and 5 in French.  
4.25.   After 15 January 2019, the process to access training material for self -study changed, 
following the migration of the E -Learning programme to the new environ ment. 3 ,914 users not 
eligible to take an E -Learning course were able to create an account in the E -Learning platform to 
access the training material of their choice for self -study.  
4.26.   Furthermore, the E -Learning Unit continued to develop the use of social m edia for updates on 
trade -related issues, interactivity and outreach. The E -Learning programme is active on Twitter, 
Facebook, LinkedIn, Instagram and YouTube.  WT/BFA/W/52 7 
- 34 - 
 
  4.2  The French Irish Internship Programme  
4.27.   The French Irish Internship Programme aims to: enhance th e Interns' knowledge and 
understanding of the Multilateral Trading System and  of trade policy in general; strengthen the 
understanding of the negotiation process at the WTO; and support Missions in participating more 
actively in the daily activities at the  WTO.  
4.28.   The Interns work in their own country's Mission in Geneva for a period of up to ten months 
and represent their respective country on selected WTO Committees. This hands -on approach is 
designed to provide them with exposure to the activities taking pl ace at the WTO.  
4.29.   The programme is open to nationals of developing countries and LDCs as well as economies 
in transition. The required qualifications include: (i) a degree in economics, trade and/or law at the 
post-graduate level; (ii) mastery of one of the WTO working languages and preferably a good 
knowledge of another; (iii) work experience in the national administration in a trade -related area; 
(iv) good drafting skills; and (v) operational familiarity with standard software packages.  
4.30.   Interns are sele cted by the ITTC and the Human Resources Division of the WTO, in 
consultation with the Mission concerned. Special consideration is given to those candidates who will 
be using their experience upon returning to their country. LDCs with very few staff member s posted 
to Geneva Missions are given preference.  
4.31.   The beneficiary Mission establishes a general description of the assignment in advance. A 
more detailed programme of work for each Intern is prepared by the Permanent Mission in Geneva, 
after the candidate has been selected.  
4.32.   The general duties might include:  
a. assistance in collection, analysis, interpretation and organization of material of interest to 
the Mission;  
b. assistance in the preparation for meetings of WTO bodies, including attendance and 
follow -up of such meetings;  
c. assistance in the preparation of reports, documents and communications of an economic 
and/or legal nature, related to the WTO; and  
d. assistance in other tasks undertaken by the Mission.  
4.33.   In 2019, this Trust Fund financed the costs related to 2 0 Interns from the following countries: 
Benin, Burkina Faso, Cambodia, Cameroon, Cote d'Ivoire, Haiti, Kenya, Kyrgyz Republic, Liberia, 
Madagascar, Mali, Nigeria, PIFS Secretariat, OECS, Senegal, Sri Lanka, Sudan, Vanuatu and Zambia.  
Table 22 The French Irish Internship Programme - Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  1,262  1,013  
Contributions received  1,090  1,151  
Interest earned  -2 -1 
Total funds  2,350  2,163  
Total expenditures  -1,122  -901 
Balance as at 31  December  1,228  1,262  
 
4.3  Netherlands Trainee Programme  
4.34.   The Netherlands Trainee Programme was launched on 1  April 2005. Its most recent extension 
was from 2018 to 2022.  WT/BFA/W/52 7 
- 35 - 
 
  4.35.   The objective of the Programme is to generate tangible, measurable and lasting capacity 
building in areas related to trade policy in LDCs, low income countries and comparable poor and 
vulnerable economies to assist in their economic and social development.  
4.36.   The Programme provides junior public officials with the opportunity to learn about matters 
dealt with in the WTO. The target group of candidates for the Programme are junior professionals 
from trade and development -related ministries, private sector organ izations, university graduates, 
participants in trade policy courses and other suitable candidates with adequate knowledge of the 
WTO.  
4.37.   Trainees spend a total period of up to ten months with the WTO and are expected to complete 
well-defined tasks in that pe riod which are relevant for the beneficiary country in terms of capacity 
building and/or in ongoing negotiations. Examples include:  
a. undertaking an assessment of needs for identifying priorities for technical assistance and 
training, based on the guidelines  established to that effect;  
b. fulfilling outstanding notification obligations and assisting in the implementation of 
commitments for recently acceded Members;  
c. assisting acceding countries in this process;  
d. assisting in the preparation for trade policy review s; 
e. undertaking other tasks, which would contribute to a better and fuller participation of the 
beneficiary country in the Multilateral Trading System;  and 
f. assisting WTO Divisions with specific tasks.  
4.38.   The candidates are selected by the Secretariat, from applications and nominations proposed 
by the beneficiary countries.  
4.39.   Following the completion of their assignments, trainees are required to provide an evaluation 
report with detailed information on the tasks accomplished and an assessment  of their relevance for 
the candidate and the beneficiary country.  
4.40.   The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 189 at the end of 2019.  
Table 23 Netherlands Trainee Progra mme – Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  981 107 
Contributions received  875 875 
Interest earned  -2 -1 
Total funds   1,854  981 
Total expenditures  -672 - 
Balance as at 31  December  1,182  981 
 
4.4  Trade Facilitation Agreement Facility (TTFAF)  
4.41.   The purpose of the TTFAF is to help developing countries and LDCs to implement the Trade 
Facilitation Agreement.  
4.42.   The objective is to assist developing countries and LDCs to identify sources of existing capacity  
building assistance, in order to implement the Trade Facilitation Agreement. The facility will 
complement existing support efforts and enhance their effectiveness.  WT/BFA/W/52 7 
- 36 - 
 
  Table 24 Trade Facilitation Agreement Facility – Financial Report S ummary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  6,228  6,582  
Contributions received  108 347 
Interest earned  -13 -11 
Total funds  6,323  6,918  
Total expenditures  -1,211  -690 
Balance as at 31  December  5,112  6,228  
 
4.5  Ministerial Conference – Participation of LDCs  
4.43.   Since the first WTO Ministerial Conference held in Singapore in 1996, the WTO has facilitated 
the participation of LDCs in Ministerial Conferences, using voluntary contributions. Costs related to 
travel, accom modation and per diem of LDC delegations, comprised of one Minister and two high 
level Officials, are covered.  
Table 25 Ministerial Conference Trust Fund for the Participation of LDCs – Financial 
Report Summary  
Expressed in ('000 CH F) 2019  2018  
Funds as at 1  January  338 357 
Reimbursement  -58 -28 
Contributions received  125 - 
Interest earned  - -1 
Monetary Revaluation  - 10 
Total funds  405 338 
Total expenditures  - - 
Balance as at 31  December  405 338 
4.44.   At the end of a given Ministerial Conference, the remaining balances in favour of the various 
contributors  are usually carried forward and added to the new contributions to be utilized for the 
same purpose in the subsequent Ministerial Conference, unless t he contributor  requests a 
reimbursement.  
4.45.   In 2019, Ireland and the European Commission requested and received a pro -rata 
reimbursement of the unspent funds.  
4.46.   The revaluation refers to final costs for MC11 of the hotel and airfare only being known in 
2018 due  to finalization of accounts. The balance in the fund increased during 2018 from what was 
reported in the 2017 financial statements  
4.6  Standards and Trade Development Facility  
4.47.   The Standards and Trade Development Facility (STDF) is a global partnership and Tru st Fund 
established by the Food and Agriculture Organization (FAO), the World Organization for Animal 
Health (OIE), the World Bank, the World Health Organization (WHO) and the WTO. The STDF 
supports developing countries in building their capacity to implem ent international Sanitary and 
Phytosanitary Standards (SPS) guidelines and recommendations as a means to improve their 
human, animal and plant health status and ability to gain and maintain access to markets. Other 
organizations involved in SPS -related te chnical cooperation, contributors  to the STDF and developing 
country experts participate actively in its work.4 The STDF is managed by the WTO.  
 
4 Further information on the STDF and its activities, background documents, etc. is available on the 
STDF website ( http://www.standardsfacility.org/ ). WT/BFA/W/52 7 
- 37 - 
 
  4.48.   In line with the STDF's medium -term strategy, various efforts were undertaken to promote 
collaboration among STDF partners and further strengthen the STDF as a knowledge platform and 
reference point for the exchange of information. The Secretariat participated in a number of 
conferences, training workshops and other information sessions to pro mote coherence and synergies 
in the design of SPS projects.  
Table 26 Standards and Trade Development Facility – Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  8,219  7,669  
Contributions received  5,921  6,602  
Interest  -20 -12 
Total funds  14,120  14,259  
Expenditures  -4,728  -6,040  
Balance as at 31  December  9,392  8,219  
 
4.7  China LDCs and Accessions Programme  
4.49.   The Chinas LDCs  and Accessions Programme was established in July 2011. Its aim is to help 
strengthen LDC Members' participation in the WTO activities and to help acceding LDCs to improve 
their capacity for accession.  
4.50.   The Government of the People's Republic of China contr ibuted CHF 499,500 to this Trust Fund 
in 2019.  
4.51.   In 2019 eight internships were made available, compared to seven in 2018.  
Table 27 China LDCs and Accessions Programme – Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  570 399 
Contributions received  500 494 
Interest  -1 -1 
Total funds  1,069  892 
Total expenditures  -320 -321 
Balance as at 31  December  749 571 
 
4.8  China Development Cooperation Research Initiative  (CDCR I) 
4.52.   The Government of the People's Republic of China and the WTO established  this agreement  
to strengthen collaboration in research and research -related technical assistance and capacity 
building for trade.  
4.53.   There are two funds under this agreement: Investment Facilitation for Development and 
ASYCUDA/TiVA Databases.  
4.8.1   CDCR I: Investment Facilitation for Development Trust Fund  
4.54.   The Investment Facilitation for Development Fund was established in 2017  to assist 
developing and least develop ed countries to deepen their understanding of multilateral approaches 
to facilitating investment for development. The principal activity of this fund was to organize regional 
investment facilitation partnership forums. There were no activities or expenditure s under this fund 
in 2019.  WT/BFA/W/52 7 
- 38 - 
 
  Table 28 CDCR I: Investment Facilitation for Development  Fund – Financial Report 
Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  196 285 
Contributions received  - - 
Interest  - - 
Total funds  196 285 
Total expenditures  - -89 
Balance as at 31  December  196 196 
4.8.2   CDCR I: ASYCUDA TIVA Databases Trust Fund  
4.55.   The "Improving Access To Trade and Market Access Statistics and Developing Trade In Value -
Added Databases" trust fund was established in 2019 to assist least -developed countries to notify 
WTO relevant data through a tool integrated into the UNCTAD ASYCUDA (Automated System for 
Custom Data) and to build trade in value added data collection capabilities in selected African 
countries.  
4.56.   Both parts of the project are dedicated to least developed and developing countries. Country 
selection is determined in joint consultation with potential beneficiary countries against needs (e.g. 
Members facing difficulties in complying with WTO tariff and trade notification obligations), technical 
criteria (e.g. availability of updated supply -use tables, use of proper product -industry classifications, 
availability of an operational ASY CUDA system), and available resources (experts, managers and 
officials).  
4.57.   The substantive  implementation is  expected to start in 2020  through partnerships with 
relevant international, regional and na tional institutions and experts from academia, as needed. The 
scope includes providing IT and other expert advice, pilot the system in select beneficiary countries, 
organizing relevant workshops and seminars and provision of administrative implementation 
support.  
Table 29 CDCRI: ASYCUDA/TiVA Databases – Financial Report Summary  
Expressed in ('000 CHF)  2019  
Funds as at 1  January  - 
Contributions received  1,091  
Interest  -1 
Total funds  1,090  
Total expenditures  -1 
Balance as at 31 December  1,089  
 
4.9  Data Set on Trade in Services by Sector and Mode of Supply  
4.58.   The Trust Fund was created in October 2016 by an agreement between the EU Commission 
and the WTO to finance a project aimed at analysing and providing data on goods, services an d 
intellectual property by mode of supply, to trade analysts.  
4.59.   The project further aims to contribute to the improvement of the Global Trade Analyst Project 
(GTAP) database used for trade analysis, thus enhancing transparency and the quality of trade 
analys is in the services domain . 
4.60.   The work was completed in 2019 . WT/BFA/W/52 7 
- 39 - 
 
  Table 30 Data  Set on Trade in Services - Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  18 97 
Contributions received from the European Union  5 - 
Interests  - - 
Total funds  23 97 
Total expenditures  -23 -79 
Balance as at 31  December  - 18 
 
4.10  Natural Disaster and Trade  
4.61.   The Natural Disasters and Trade Fund was established in 2018. The fund seeks to highlight 
issues that could be further researched on trade and disasters. This work suggests that there is 
significant scope for more in -depth research on this issue, for example through case studies on 
disaster -affected Members, and in the relate d areas of resilience and recovery.  
4.62.   Research was organized research around three main topics: the role that trade can play in 
relation to disaster resilience, disaster response and disaster recovery.  
Table 31 Natural Disaster and Trade - Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  52 - 
Contributions received  - 110 
Interest  - - 
Total funds  52 110 
Total expenditures  -44 -58 
Balance as at 31  December  8 52 
 
4.11  Transferring technologies for the development of Cotton  Project  
4.63.   The project on "Technology Transfer for the Development of Cotton by -products in eight 
African LDCs", started on 7 July 2019 with the establishment of the relevant " Transferring 
technologies for the development of  Cotton fund". The project is expec ted to be concluded on 
30 June 2020.  
4.64.   This trust fund contributes to the achievement of WTO mandates  on cotton development 
assistance, as reflected in the Nairobi and Bali Ministerial Declaration on Cotton .  
4.65.   This trust fund is specifically linked to the "Me morandum of Understanding (MoU) between 
the World Trade Organization (WTO) and United Nations Office for Project Services (UNOPS) on 
Collaborative Arrangements in the EIF Programme Phase 2", effective as of 12 March 2019. Pursuant 
to this MoU, the WTO has been working in close collaboration with the ITC, UNCTAD and IFAD.  
4.66.   Trust fund activities are regularly discussed at the biannual meetings of the Director -General's 
Consultative Framework Mechanism on Cotton (DGCFMC).  
Table 32 Transf erring technologies for the development of Cotton  Project  – Financial 
Support Summary  
Expressed in ('000 CHF)  2019  
Funds as at 1  January  - 
Contributions received  147 
Interest  - 
Total funds  147 
Total expenditures  -69 
Balance as at 31 December  78 WT/BFA/W/52 7 
- 40 - 
 
  4.12  LDC G raduation Trust Fund  
4.67.   In response to a request from the WTO LDC Group, made in the Sub -Committee on LDCs on 
30 October 2018 (WT/COMTD/LDC/M/84) and reiterated in writing through a Note Verbale  on 
21 November 2018, the WTO Secretariat has, in collaboration with the EIF Executive Secretariat, 
developed a project on LDC Graduation aimed at ensuring a smooth graduation process for the 
12 LDCs in the graduation pipeline.  
4.68.   The project, along with its  objectives, envisaged activities, and estimated budget, was 
considered by the CBFA on 13 November 2018 (WT/BFA/W/466) and also approved by the EIF Board 
on 16 January 2019. The Trust Fund was established on 19 March 2019 to carry out research and 
analytic al work on the trade -related implications of graduation as well as to organize national and 
regional activities to enhance the capacity of graduating LDCs to better prepare them for graduation 
from LDC status. The principal project outputs and activities a re the following:  
a. Analytical reports on LDC Graduation and the WTO (cross -cutting analysis; country -
specific market access analysis; and country reports);  
b. National and regional capacity -building workshops; and  
c. Dissemination events, including at the WTO.  
4.69.   Project activities are being undertaken in line with the approved project proposal. Briefings 
on progress in the implementation of the project are being provided to Members in the Sub -
Committee on LDCs, to the LDC Group, to the EIF Board, and UNOPS – the Tru st Fund Manager. The 
WTO keeps other inter-governmental organizations  working on graduation informed about the 
project activities through the UN inter -agency task force on LDC graduation.  
Table 33 EIF-LDC Graduation Fund – Financial  Report Summary  
Expressed in ('000 CHF)  2019  
Funds as at 1  January  - 
Contributions received  200 
Interest  - 
Total funds  200 
Total expenditures  -80 
Balance as at 31  December  120 
4.13  LDC F isheries Negotiations Trust Fund  
4.70.   The LDC  Fisheries Negotiations Trust Fund has the sole purpose of financing the travel costs 
of fisheries officials from LDC capitals to take part in Negotiating Group on Rules fisheries subsidies 
cluster  meeting s. This fund was established in response to request s for financial support by LDCs in 
open Rules Negotiating Group and HODs/TNC/GC meetings.  
4.71.   Norway, Australia, New Zealand and Germany provide d funding and requested the Secretariat 
to administer the payments. The trust fund structure was identified as the practical way to do this. 
The trust fund was established in accordance with the Secretariat's new guidelines for notification of 
voluntary contributions.  
4.72.   In establishing parameters of the fund, it was agreed that a maximum of 11 persons would 
be funded fo r each cluster meeting, that it is for the LDC Group to determine which of its member 
countries will be funded to participate in any given cluster; and that it is for each individual country 
to name its representative. The nomination form contains professi onal and language proficiency 
requirements that need to be confirmed and the Rules Division reviews the forms to be sure that 
they contain the requisite information to be eligible. Thus, the Members themselves nominate their 
capital -based negotiators for t hese meetings. The Secretariat provides the logistical support for 
organizing travel arrangements for nominated individuals.  WT/BFA/W/52 7 
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  Table 34 LDC Fisheries Negotiations Fund – Financial Report Summary  
Expressed in ('000 CHF)  2019  
Funds as at 1  January  - 
Contributions received  169 
Interests earned  - 
Total funds  169 
Total expenditures  -135 
Balance as at 31  December  34 
4.14  Enhanced Integrated Framework Executive Secretariat  
4.73.   The EIF  partnership, composed of beneficiary countries, donors and partner agencies, works 
closely with governments, development organizations and the civil society to  assist Least Developed 
Countries (LDCs) use trade as an engine for development and poverty redu ction. EIF works with 
partner countries to harness trade for economic growth,  poverty reduction and sustainable 
development.  
4.74.   The EIF's e xecutive secretariat was established in 2008 and is housed at the WTO. The 
International Bank for Reconstruction and Dev elopment, the International Monetary Fund, the 
International Trade Center, the United Nations Conference on Trade and Development, the United 
Nations Development Programme and the World Trade Organization (collectively "EIF  Agencies"), 
EIF Least -Developed Countries ("EIF LDCs") and all donors, constitute the partners of the EIF. The 
EIF is regarded as one of the most successful initiatives under the overall umbrella of Aid for Trade.  
4.75.   Funding for the EIF is channelled through two sources: the multilateral EI F Trust Fund 
managed by the United Nations Office for Project Services (UNOPS) and bilateral/regional donor 
support made directly to the beneficiary countries. The EIF Trust Fund makes an annual allocation 
to the WTO to cover the operating expenditures of the EIF Executive Secretariat.  
Table 35 Enhanced Integrated Framework Executive Secretariat – Financial Report 
Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  414 477 
Contributions received  4,483  4,339  
Interest  -6 -5 
Total funds  4,891  4,811  
Total expenditures  -4,408  -4,397  
Balance as at 31  December  483 414 
4.15  Independent Entity – Pre-Shipment Inspection – Deposits  
4.76.   Independent Entity (IE) is a mechanism for settling disputes between exporters and pre -
shipment inspection companies/agencies. It is constituted by the WTO, International Chamber of 
Commerce and the International Federation of Inspection Agencies. The fund is established under 
Article 4 of the Agreement on Pre -shipment Inspection.  
4.77.   Deposit pa yments from the following pre -shipment inspection companies have been received 
to cover the estimated costs of an independent review in the event of a dispute, as required by the 
terms of reference of the Agreement: Bureau Veritas International, Cotecna In spection Limited, 
Inspectorate Griffith Limited  and Inchcape Testing Services International Limited.  
4.78.   This Trust Fund has never been drawn -down since its establishment in 1995 and is a 
subsidiary of the Committee on Trade in Goods.  WT/BFA/W/52 7 
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  Table 36 Independent Entity – Pre-Shipment Inspection – Deposits – Financial Report 
Summary  
Expressed in ('000 of CHF)  2019  2018  
Funds as at 1  January  88 88 
Interest  - - 
Total funds  88 88 
Total expenditures  - - 
Balance as at 31 December  88 88 
4.16  Programme Support Fund  
4.79.   Programme Support Costs are charged at a rate of 13% of the direct costs incurred by Trust 
Funds administered by the WTO, and, posted to the Programme Support Fund (PSF).  
4.80.   The WTO may allocate a portion of the Programme Support Costs to Trust Funds that it 
manages with implementing partners.  
4.81.   Overhead fees are collected and calculated as of the 31st December of each year.  
4.82.   10% of the expenses in the PSF are statutorily credit ed back to the WTO regular budget to 
cover some overheads (e.g. utilities) for services used in the delivery of activities financed from the 
extra-budgetary funds.  
Table 37 Programme Support Fund – Financial Report Summary  
Expressed in ('000 CHF)  2019  2018  
Funds as at 1  January  939 1,024  
Overhead fees collected  2,522  2,402  
Overheads – Shared with Partners  -211 -397 
Total funds  3,250  3,029  
Total expenditures  -2,211  -2,090  
Balance as at 31  December  1,039  939 
 WT/BFA/W/52 7 
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  5  FINANCIAL STATEMENTS  
5.1  Management letter of representation  
5.1.  The management of the WTO Secretariat is responsible for the annual financial statements of 
the WTO and all other information presented therewith. These financ ial statements are prepared in 
accordance with the World Trade Organization's (hereinafter "WTO") Financial Regulations, Financial 
Rules and International Public Sector Accounting Standards  (IPSAS) . The financial disclosures form 
part of the financial stat ements and are intended to fairly present the WTO's financial results in a 
manner that is complete and understandable.  
5.2.  The Management of the WTO is responsible for establishing and maintaining adequate internal 
controls over financial reporting so as to pr ovide reasonable assurance regarding the reliability of 
these financial statements. This includes policies and procedures that: enable the maintenance of 
records that accurately and fairly reflect the transactions of the WTO; provide reasonable assurance 
that transactions are authorized and recorded in compliance with the WTO's Financial Regulations 
and Financial Rules; and provide reasonable assurance regarding the prevention or timely detection 
of unauthorized acquisition, use or disposal of the WTO's ass ets. However, due to the inherent 
limitations of internal controls, these controls may not prevent or detect all misstatements.  
5.3.  Based on the above, the Management of the WTO is of the view that these financial statements 
fairly present the WTO's financial performance for the year ended 31 December 2019 and financial 
position as at 31 December 2019. These statements have been audited by External Auditors 
appointed by the WTO General Council. The report of the External Auditors is contained in the 
following p ages.  
  
 
 
 
 
 
 
 
   (signed)  (signed)  
__________________________________  
 __________________________________  
 
 
 
 Roberto Azevêdo  Nthisana Phillips  
 Director -General  Director,  
  Administration and General  
  Services Division  WT/BFA/W/52 7 
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  5.2  Opinion of the external auditor  
BUNDESRECHNUNGSHOF -SUPREME AUDIT  
INSTITUTION OF GERMANY  
 
 September  2020 
 
 
To the Director -General of the World Trade Organization  
 
 
I have the honour to transmit the financial statements of the World Trade Organization (WTO) for 
the financial ye ar ended 31 December 2019, which were submitted to me in accordance with the 
WTO´s Financial Regulations. I have audited these statements and have expressed my opinion 
thereon.  
 
Further, in accordance with the Organization´s Financial Regulations and Rules, I have the honour 
to present my report on the accounts of the WTO for the year ended 31 December 2019 . 
 
Please accept  the assurance of my highest consideration.  
 
Identification of the financial statements  
 
I have audited the financial statements of the World Trade Organization (hereinafter “WTO”) for 
the financial year ended 31 December 2019, comprising :  
• the Statement of Financial Position,  
• the Statement of Financial Performance,  
• the Statement of Cash Flow,  
• the Statement of the Changes  in Net Assets,  
• supporting notes and annexes to the Financial Statements.  
 
Basis of Opinion  
 
I conducted my audit in conformity with International Standards on Auditing (ISAs) as adopted and 
expanded by the International Organization of Supreme Audit Inst itutions (INTOSAI) and issued as 
International Standards for Supreme Audit Institutions (ISSAIs). These standards require that I plan 
and perform the audit to obtain reasonable assurance about whether the financial statements are 
free from material misstat ement.  
I am independent of the WTO in accordance with the ethical requirements that are relevant to my 
audit of the financial statements and I have fulfilled all other ethical responsibilities in accordance 
with these requirements.  
 
I believe that the au dit evidence I have obtained is sufficient and appropriate to provide a basis for 
my opinion.  
 
Responsibilities of Management  
 
The Management of WTO is responsible for the preparation and fair presentation of the financial 
statements in accordance with IPS AS and for such internal control as Management determines is 
necessary to enable the preparation of financial statements that are free from material 
misstatement, whether due to fraud or error.  
 
In preparing the financial statements, the Management is resp onsible for assessing WTO 's ability 
to continue as a going concern, disclosing, as applicable, matters related to going concern and 
using the going concern basis of accounting unless Management either intends to liquidate the 
WTO or to cease operations, or  has no realistic alternative but to do so.  
Those charged with governance are responsible for overseeing the WTO 's financial reporting process.  
 WT/BFA/W/52 7 
- 45 - 
 
  Auditor's responsibility  
 
My objectives are to obtain reasonable assurance about whether the financial statements as a whole 
are free from material misstatements, whether due to fraud or error, and to issue an auditor 's report 
that includes my opinion. Reasonable assurance is a high level of assurance but is not a guarantee 
that an audit conducted  in accordance with ISAs will always detect each and every material 
misstatement. Misstatements can arise from fraud or error and are considered material if, 
individually or in the aggregate, they could reasonably be expected to influence the economic 
decisions of users , taken on the basis of these financial statements.  
 
As part of an audit in accordance with ISAs, I exercise professional judgement and maintain 
professional skepticism throughout the audit.  I also:  
 
• identify and assess the risks of material misstatement of the financial statements, whether 
due to fraud or  error, design and perform audit procedures responsive to those risks, and 
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. 
The risk of not detecting a material misstatement resulting from fraud is higher than fo r one 
resulting from error, as fraud may involve collusion, forgery, intentional omissions, 
misrepresentations, or the override of internal control;  
• obtain an understanding of internal control relevant to the audit in order to design audit 
procedures that are appropriate in the circumstances, but not for the purpose of expressing 
an opinion on the effectiveness of WTO 's internal control;  
• evaluate the appropriateness of underlying accounting policies and the reasonableness of 
accounting estimates and related  disclosures made by management;  
• conclude on the appropriateness of Management 's use of the going concern basis of 
accounting and, based on the audit evidence obtained, whether a material uncertainty exists 
related to events or conditions that may cast sig nificant doubt on the WTO 's ability to 
continue as a going concern. If we conclude that a material uncertainty exists, we are 
required to draw attention in our auditor 's report to the related disclosures in the financial 
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions 
are based on the audit evidence obtained up to the date of our auditor 's report. However, 
future events or conditions may cause the WTO to cease to continue as a going concern;  
• Evaluate the overall pre sentation, structure and content of the financial statements, 
including the disclosures, and whether the financial statements represent the underlying 
transactions and events in a manner that achieves fair presentation.  
My team communicated with those cha rged with governance regarding, among other matters, the 
planned scope and timing of the audit and significant audit findings, including any significant 
deficiencies in internal control that we identify during our audit.  
 
Audit Opinion  
 
As a result of my audit, I am of the opinion that the financial statements present fairly, in all material 
respects, the financial position as at 31 December 2019, that they have been prepared in accordance 
with International Public Sector Accounting Standards (IPSAS) an d WTO´s stated accounting 
policies, and that the transactions have been in accordance with the Financial Regulations.  
 
I have placed an unqualified opinion on WTO 's financial statements for 2019.  
 
Report Reference  
 
I have also prepared a long-form report on the WTO 's financial statements.  
 
 
 
 
 Kay Scheller  
 President of the Bundesrechnungshof  
 Supreme Audit Institution of Germany  
 External Auditor  WT/BFA/W/52 7 
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  5.3  WTO Financial Statements5 
Table 38 Statement of Financial Position  
Statement of Financial Position       
Expressed in '000 CHF  Notes  31/12/2019  31/12/2018  
ASSETS      
Current assets      
Cash and cash equivalents  4 147,456  130,377  
Receivables from Members  5 14,075  15,964  
Receivables from Observers  5 818 646 
Inventories  6 344 320 
Other receivables  7 3,778 3,839  
Advances and prepayments  8 5,778 5,755  
Total Current Assets   172,249  156,900  
      
Non -current assets      
Building  9 115,350  118,348  
Equipment  9 8,232  9,836  
Intangible assets  10 112 212 
WTO Pension Plan assets  14 634,687  564,847  
Total non -current assets   758,381  693,244  
      
Total assets   930,630  850,144  
      
LIABILITIES      
Current liabilities      
Payables  11 6,497  4,094  
Accruals  11 1,550 10,451  
Provisions  11 9,513 - 
Assessed contributions received in advance  12 12,448  4,891  
Refundable voluntary contributions  13 31,516  34,191  
Short -term employee benefits  14 11,670  11,683  
Total current liabilities   73,19 4 65,310  
      
Non-current liabilities      
Loan  15 51,600  52,800  
Pension benefits  14 1,287,398  1,072,042  
After Service Health Insurance benefits  14 277,159  283,674  
Other Long -term employee benefits  14 8,898  8,878  
Total non -current liabilities   1,625,055  1,417,394      
Total liabilities   1,698,2 49 1,482,704  
      
Net assets/equity   -767,619  -632,560  
      
NET ASSETS/EQUITY      
Working Capital Fund  16 64,217  62,910  
Actuarial gain/(loss)  14 54,687  155,559  
Accumulated surplus/(deficit)  3 -950,783  -917,567  
Provision for right of use – Centre William Rappard  9 57,374  57,980  
Reserves  17 25,346  22,850  
IPSAS  Budget Allocation  and Provisions for BRF and SRA  17 -18,460  -14,291  
Total net assets/equity   -767,619  -632,560  
 
5 All balances are p resented in thousands of Swiss Francs. As  a result , details may not add to totals due 
to rounding . WT/BFA/W/52 7 
- 47 - 
 
  Table 39 Statement of Financial Performance  
Statement of Financial Performance       
Expressed in '000 CHF  Notes  31/12/2019  31/12/2018  
REVENUE       
Contributions assessed on Members  18 195,500  195,500  
Contributions of Observers  18 616 616 
Voluntary contributions on trust funds  18 21,964  21,048  
Revenue from publications  18 536 461 
Other revenue  18 4,267  1,301  
WTO Pension Plan revenues  18 - 3,351  
       
Total revenue   222,883  222,277  
       
EXPENSES       
Staff Expenditure  19 -132,005  -133,243  
Actuarial cost for ASHI  19 -12,012  -11,639  
Actuarial cost for pension  19 -26,117  -23,517  
Temporary Assistance  19 -25,622  -23,340  
Supplies and other General Service Costs  19 -15,401  -15,473  
Travel & Hospitality  19 -14,468  -13,557  
Implementing Partners  19 -3,929  -5,255  
Contribution to ITC  19 -18,243  -18,243  
Ministerial Conference Operating Fund (variation)  19 -529 -596 
Appellate Body Operatin g Fund (variation)  19 -766 -583 
Depreciation  19 -5,488  -5,684  
Provision for contribution in arrears  19 -394 690 
Depreciation of provision for right of use - CWR 19 606 606 
Finance Costs  19 -348 -580 
Loss on foreign exchange transactions  19 -63 -67 
       
Total expenses   -254,779  -250,482  
       
Surplus/(deficit) for the period   -31,896  -28,205  
 
Table 40 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION  
AS AT DECEMBER 31, 2019 (CHF)  
Expressed in 
'000 CHF  WCF Actuarial 
loss Ac. 
Surplus/ 
Deficit  Right of 
use BRF and SRA  Reserves  Total Net 
Assets/ 
Equity  
Balance at 
31/12/2018  62,910  155,559  -917,567  57,980  -14,291  22,850  -632,559  
Increase in 
WCF 1,320  - -1,320  - - - - 
 WCF Negative 
Interest  -13      -13 
Actuarial loss  - -100,872  - - - - -100,872  
 Recognition of 
right of surface 
use  - - - -606 - - -606 
Allocation to 
BRF and SRA*  - - - - -4,169  - -4,169  
 Period 
Surplus/Deficit  - - -31,896  - - - -31,896  
Reserves  - - - - - 2,496  2,496  
 Balance at 
31/12/2019  64,217  54,687  -950,783  57,374  -18,460  25,346  -767,619  
*  Of this amount, CHF 3.6 million was allocated to the Building Renovation Fund and CHF 0.569 million 
was allocated to the Special Reserve Account for medical insurance.  WT/BFA/W/52 7 
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  Table 41 Cash Flow Statement (Indirect method)  
WORLD TRADE ORGANIZATION   
 
AS AT DECEMBER 31 (Expressed in Thousands of CHF)  2019  2018  
Cash Flows from Operating Activities    
Surplus/Deficit from ordinary activities  -31,896  -28,205  
Depreciation and amortisation  5,488  5,684  
Right of use - Centre William Rappard  -606 -606 
Provision for contribution in arrears         394  -690 
(Increase) / decrease in receivables from Members and Observers  1,322  8,036  
(Increase) / decrease in inventories  -24 73 
(Increase) / decrease in other receivables  -148 -317 
(Increase) / decrease in pension assets  -69,840  31,073  
(Increase) / decrease in advances and prepayments  186 -989 
Increase / (decrease) in payables  2,403  -707 
Increase / (decrease) in accruals  and provisions  613 3,851  
Increase / (decrease) in contributions received in advance  7,556  -4,481  
Increase / (decrease) in refundable voluntary contributions  -2,675  1,275  
Increase / (decrease) in employee benefits  208,848  91,983  
   
Actuarial Gain / (Loss)  -100,872  -91,128  
Increase/(decrease) Reserves  2,497  7,006  
Increase/(decrease) Extra Budget ary Allocation  -4,169  -4,766  
Net Cash Flows from Operating Activities  19,07 7 17,092  
   
Cash Flows from Investing Activities    
(Increase)/decrease property, plant and equipment  -885 -811 
(Increase)/decrease of intangible assets  100 197 
Net Cash flows from investing activities  -785 -614 
   
Cash Flows from Financing Activities    
Increase/ (decrease) of loans  -1,200  -1,200  
Increase/ (decrease) in Working Capital negative interest  -13 - 
Net Cash Flows from Financing Activities  -1,213  -1,200  
   
Net Increase /(Decrease) in Cash and Cash Equivalents  17,079  15,278  
    
Cash and cash equivalents at beginning of period  130,377  115,098  
     
Cash and cash equivalents at end of period  147,456  130,376  
 WT/BFA/W/52 7 
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  5.4   Notes to the financial statements6 
5.4.1   Note 1 Accounting policies  
5.4.1.1   Basis of preparation  
5.4.  The financial statements of the WTO have been prepared on the accrual basis of accounting in 
accordance with IPSAS.  
5.4.1.2   Consolidation  
5.5.  The International Trade Centre (ITC) is the joint technical co -operation agency of the United 
Nations (UN) and the WTO for Tra de-related Technical Assistance. The ITC has operated since 1968 
under the joint aegis of the GATT and the UN, the latter acting through the United Nations Conference 
for Trade and Development (UNCTAD).  
5.6.  In accordance with IPSAS 35, 36 and 37 ITC is not co nsidered as being a jointly controlled 
entity. Therefore, its financial statements are not consolidated into those of the WTO.  
5.4.1.3   Foreign currency  
5.7.  The functional and reporting currency of the WTO is Swiss Francs (CHF). Transactions 
denominated in foreign cur rencies (other than assessed contributions from Members and Observers), 
are converted into CHF using the official United Nations exchange rate on the date of the transaction. 
For assessed contributions received in a currency other than CHF, they are conver ted and credited 
at the bank rate of exchange applicable on the value date. Monetary assets and liabilities in 
currencies other than CHF are converted into CHF applying the year -end United Nations exchange 
rate. 
5.4.1.4   Segment reporting  
5.8.  A segment is a distinguish able activity or group of activities for which financial information is 
reported separately. WTO activities are classified into two segments: i) regular budget and ii) Trust 
Funds.  
5.4.1.5   Use of estim ates 
5.9.  The preparation of financial statements includes the use o f accounting estimates as well as 
management assumptions and judgement. The areas where estimates are used include obligations 
for post -employment benefits; provisions for litigation; accrued charges; the risk of lack of collection 
of accounts receivable; contingent assets and liabilities; and the degree of impairment of fixed 
assets. Actual results could differ from these estimates. Changes in estimates are reflected in the 
period in which they become known.  
5.4.1.6   Cash and cash equivalents  
5.10.   Cash and cash equivale nts comprise cash in hand and cash accounts at banks. Cash and cash 
equivalents that can only be used for a specific purpose are considered as restricted.  
5.11.   The Cash Flow Statement is prepared using the indirect method.  
5.4.1.7   Receivables  
5.12.   Receivables are recognised at nominal value less any allowances for estimated irrecoverable 
amounts. Discounting on receivables is not applied unless the effect is expected to be significant.  
 
6 All balances are presented in thousands of Swiss Francs. As a result, small rounding differences may 
occur.  WT/BFA/W/52 7 
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  5.13.   The methodology for provision for outstanding assessed contributions from Member s and 
Observers is based on the number of years of outstanding contributions as per Table 41 below . 
Table 42 Level of Provisions for Outstanding Contributions  
Members and Observers with outstanding 
contributions at year -end Level of the provision  
Greater than 3 years  100%  
Greater than 2 years, but less than 3 years  75% 
Greater than 1 year but less than 2 years  50% 
≤ 1 year  0% 
 
5.4.1.8   Advances and prepayments  
5.14.   Applying a discount factor on advances and prepayments is not done unless the effect is 
expected to be significant and material.  
5.4.1.9   Inventories  
5.15.   Inventories include the value of publications and souvenirs held for sale and those distributed 
free of charge. The cost of acquired publications and souvenirs includes the purchase price as well 
as the transport costs. The cost of publications produced in -house includes the costs of supplies 
(paper), the cost of the rental of equipment (including maintenance and ink) as well as the staff 
costs directly attributed to inventory. For in -house publications sent to the WTO's outsourced 
distribution storage, the cost also includes the relevant transportation costs. The cost of inventories 
is assigned in line with the weighted average cost formula.  
5.16.   An annual physical inventory is conducted f or the stock of publications and souvenirs held in -
house and at the distributor's storage. At the end of each year, items that are either damaged or 
obsolete are written -off to reflect net realizable value.  
5.4.1.10   Property, Plant and Equipment  
5.17.   Property, Plant and  Equipment is recognised at historical cost less any accumulated 
depreciation and impairment loss. The following thresholds are defined for the recognition of 
Property, Plant and Equipment:  
• Any asset with a value above CHF  5,000 is fully capitalized when a cquired individually.  
• Any asset with a value above CHF 2,500 is fully capitalized when acquired as part of a lot with 
a total value above CHF 50,000.  
• Any asset, irrespective of its value, is fully capitalized when acquired as part of a lot with a 
total val ue above CHF 500,000. More -over any internally developed software is capitalized if 
the value exceeds CHF 500,000.  
5.18.   Contributions in -kind relating to Property, Plant and Equipment, such as the donated surface 
right to use the land on which WTO headquarters stand, are recognised in the financial statements 
and disclosed in the notes.  
5.19.   Depreciation is provided for Propert y, Plant and Equipment using the straight -line method, 
except for land which is not subject to depreciation. In the context of the building project, buildings 
and equipment are depreciated as of 1  January  2013.  
5.20.   The useful lives of major classes of assets h ave been estimated as follows:  WT/BFA/W/52 7 
- 51 - 
 
  Table 43 Useful Life of Classes of Assets  
Class  Estimated useful life (years)  
Centre William Rappard building  99 years  
Structural components of the building  50 years  
Building carpentry  25 years  
Waterproof system, elevator  15 years  
Furniture  10 years  
Reproduction equipment  5 or 10 years  
Audio -visual equipment  10 years  
Computer equipment  4 years  
Security equipment  10 years  
Windows and heating  25 years  
Vehicles  5 years  
 
5.21.   Damaged assets are impaired at year -end based on information received.  
5.22.   Heritage assets are not recognised in the financial statements.  
5.4.1.11    Intangible Assets  
5.23.   Intangible assets are stated at historical cost less accumulated depreciation and impairment 
losses. Depreciation is prov ided over the estimated useful life (4 years) using the straight -line 
method. Licence rights lasting one year are expensed during the year.  
5.24.   Maintenance and upgrade costs for software are recognised as expenditure. The cost of 
software bought at the same time as associated hardware is included in the hardware cost.  
5.25.   Copyrights, preproduction costs for publications, WTO website costs and internal and external 
development costs for databases are not recognised as intangible assets.  
5.4.1.12   Employee benefits  
5.26.   WTO employee benefits are classified as follows:  
a. Short -term employee benefits are due to be settled within 12 months of the reporting date 
and are measured at their nominal values based on accrued entitlements at current rates 
of pay. They include first -time e mployment benefits (installation grants); regular monthly 
benefits (wages, salaries, and allowances); compensated absences (paid sick leave or 
maternity leave); annual leave and other short -term benefits for international staff 
members (education grant, ho me leave).  
b. Post-employment benefits comprise the estimated actuarial liability of defined benefit 
plans for retirement; and the ASHI cover.  
5.27.   The actuarial liability is the present value of the defined benefit obligations (relating to pension 
and ASHI) at th e reporting date. Similarly, the fair value of the WTO Pension Plan (WTOPP) is shown 
among the non -current assets of the Financial Statements. The assets of the WTOPP shall be 
exclusively used for the purposes outlined in the Pension Plan's Regulations.  
5.28.   The WTOPP is a separate entity with its own management, governance processes and 
reporting mechanisms to the General Council. It produces its own financial statements that are 
reported and approved by the General Council, independently from the financial sta tements of the 
WTO Secretariat.  
5.29.   The benefit obligation is calculated annually by an independent actuary using the projected 
unit credit method. The actuarial gains or losses arising from experience adjustments and changes 
in actuarial assumptions are recog nized immediately in net assets.  WT/BFA/W/52 7 
- 52 - 
 
  5.30.   Post-employment benefits include the lump sum option for removal costs for international 
staff members and separation grant. These are calculated in -house and are discounted using the 
same rate as the one used for the valua tion of the WTOPP and ASHI.  
5.4.1.13   Provisions and contingent li abilities  
5.31.   Provisions are made for future liabilities and charges where the WTO has a present legal or 
constructive obligation as a result of past events and it is probable that the WTO will be require d to 
settle the obligation.  
5.32.   Other commitments, which do not meet the recognition criteria for liabilities, are disclosed in 
the notes to the financial statements as contingent liabilities when their existence can be confirmed 
by the occurrence or non -occur rence of one or more uncertain future event which is not wholly within 
the control of the WTO.  
5.4.1.14   Tax 
5.33.   The WTO assets, income and other property are exempt from taxation.  
5.4.1.15   Revenue recognition  
5.34.   Revenue from assessed contributions as well as voluntary contribution s is recognised as non -
exchange transactions as per IPSAS 23:  
a. Assessed contributions are recognised as revenue at the beginning of the year to which 
they relate.  
b. Voluntary contributions received by the WTO have conditions governing their use. At the 
recept ion of the funds, the WTO recognises an asset (cash and cash equivalent) and a 
liability ( refundable voluntary contributions). Revenue is recognised when carrying out the 
specified performance and the conditional liability is therefore discharged. Voluntar y 
contributions are therefore recognised up to the amount expensed in the period.  
5.35.   Revenue from exchange transactions (mainly sale of publications, interest earned and rental 
of meeting rooms) is recognised when goods or services are delivered.  
5.36.   In-kind cont ributions of services are not recognised in the financial statements.  
5.4.1.16   Expenses  
5.37.   Under accrual accounting, expenses are recognised at the time of delivery of goods or services 
by the supplier or service provider.  
5.38.   The WTO signs agreements with partners to imp lement Trade -related Technical Assistance 
activities. Recognition is based on the delivery principle. Most of the projects relate to activities 
which last a maximum of two months. For multi -year projects, the recognition principle is based on 
the disbursem ent as disbursement is made upon validation of progress reports and corresponds to 
the costs incurred by the beneficiary.  
5.4.2   Note 2 Financial risk policy  
5.39.   The Organization is exposed to limited financial risks:  
a. Counterparty risk:  
• The preservation of capital is the primary objective when investing funds. In order to 
limit counterparty risk, funds are deposited with at least two internationally 
recognized financial institutions with a  credit  rating equivalent to  Standard & Poor's  
A- or better.  WT/BFA/W/52 7 
- 53 - 
 
  b. Foreign c urrency exchange risk:  
• The exposure to the foreign exchange rate risk is reduced by maintaining most funds 
in CHF, the Organization's base currency. With respect to the holdings in foreign 
currency, the risk mitigating factor is that the combined permissib le maximum 
holding in foreign currency is 10% of overall funds.  
c. Interest and market risks:  
• Interest and market risks are also very limited as speculation on interest rates is 
strictly forbidden and cash balances retained by the Secretariat can only be inve sted 
through the following asset classes:  
Table 44 Asset classes for investment  
Asset classes*  % to be held  
Cash and Cash equivalents, minimum of  70% 
Bonds up to a maximum of  30% 
Equities  0% 
*  Investment in hedge funds, derivatives and alternative asset classes is prohibited.  
 
d. Liquidity risk:  
• The level of funds available shall be maintained to meet the payment requirements 
of the WTO. The investment duration shall take into account the uncertain  timing of 
the receipt of Members' contributions and the cash -flow requirements.  
5.4.3   Note 3 Negative interest and negative equity  
5.40.   In 2019 the Swiss National Bank (SNB ) continued to implement its policy of negative interest 
on deposits  over a certain threshold. Due to this decision no interest was available for distribution 
to Members, as had been envisaged by the early payment interest scheme.  
5.41.   In 2019 the WTO show ed a negative net equity. This situation remains unchanged since the 
introduction of IPSAS in 2012. The introduction of IPSAS implied the recognition of assets and 
liabilities which were undetected under the cash basis accounting system. The amount indicated 
under accumulated surplus (deficit) represents the IPSAS adjustments that occurred in the 
restatement of the financial statements as of 31.12.2012 and the subsequent impact of each year 's 
IPSAS financial results.  
5.4.4   Note 4 Cash and cash equivalents  
Table 45 Cash Situation  
Cash and cash equivalent  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Cash in hand CHF 5 5 
Cash at bank by currency  147,451  130,372  
Total cash and cash equivalent  147,456  130,377  
Cash at bank represented in terms of base currency    
CHF 131,11 9 113,117  
USD 14,954  14,866  
EUR 1,044  2,021  
GBP 339 368 
Total at bank by currency  147,45 6 130,372  
5.42.   The bank balance in CHF includes restricted funds held by the Working Capital Fund for an 
amount of CHF 64.217  million , of which CHF 53.345  million is the accumulated budgetary surplus 
for the period 2012 -2018. WT/BFA/W/52 7 
- 54 - 
 
  5.43.   Bank accounts are held with UBS, Crédit  Suisse and the Swiss Post Finance Bank. The WTO 
negotiates interest rates on bank account deposits with the banks in order to obtain competitive 
rates. However, the expense emanating from negative interest rates continues to rise as thresholds 
are adjusted. In order to partially offset the negative interests paid, a Money Market investment in 
USD was made,  generating about kCHF 0 positive interests.  
5.4.5   Note 5 Receivables from Members, Observers and Contributors  
5.44.   Receivables from Members and Observers comprise of rec eivable assessed contributions. The 
details for contributions due from Members and Observers are presented in Schedules  B and C, 
respectively.  
5.45.   A provision for outstanding contributions is calculated based on the ageing of the 
contributions. A provision of 100% is calculated when the ageing of the contribution is older or equal 
to 3 years, 75% when it is between two and three years and 50% when it is between one and two 
years.  
Table 46 Receivables from Members  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Receivable Assessed Contributions - Members  24,193  25,687  
Provision for Contributions in Arrears  -10,118  -9,723  
Total receivable from Members  14,075  15,964  
Table 47 Receivables from Observers  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Receivable assessed contributions - Observers  818 646 
Total receivable from Observers  818 646 
Table 48 Provision for Arrears from Members and Observers  
Expressed in '000 CHF  Provision for 
outstanding 
contributions at 
31 December  2018  Adjustment of 
the provision 
during 2019  Provision for 
outstanding 
contributions at 
31 December 2019  
Members  9,249  343 9,592  
Observers                  475                  51                         526  
Total  9,724  394 10,118  
 
5.46.   As of 31 December 201 9, 12 Members, with a total amount outstanding of CHF  8 million, were 
subject to Administrative Measures. This amount represented 33% of the total amount outstanding. 
Among the Observers, Libya and Sao Tome & Principe were subject to Administrative Measures  in 
category III.  
5.4.6   Note 6 Inventories  
Table 49 Inventories per type  
Inventories  
Expressed in '000 CHF  31/12/2019  31/12/2018  
WTO publications and co -publications  229 223 
Non-WTO publications  43 35 
Souvenirs  72 62 
Total inventories (including adjustments and write offs)  344 320 WT/BFA/W/52 7 
- 55 - 
 
  Table 50 Inventories per storage  
Inventories  
Expressed in '000 CHF  12/31/2019  12/31/2018  
External WTO Storage  105 91 
Internal WTO Storage  239 229 
Subtotal inventories (including adjustments and 
write offs)  344 320 
 
5.47.   Inventories consist of WTO publications, co -publications, other non -WTO publications and 
souvenirs held for sale.  
Table 51 Inventory adjustments and write -offs 
Expressed in '000 CHF  12/31/2019  12/31/2018  
Adjustments  2 -11 
Write offs  -3 -63 
Total Adjustments and write offs  -1 -74 
 
5.48.   The adjustment corresponds to the reconciliation between the value of the inventory in the 
financial accounts and the value of the actual physical inventory. The amount of the adjustment 
including write off is about CHF 653 which is well below industry variance standard s of 5%. 
5.49.   Write -offs relate to obsolete inventories. Obsolete publications are identified by making a title 
by title analysis based on statistics of the last three years' sales and distribution.  
5.4.7   Note 7 Other receivables  
Table 52 Other Receivables  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Recoverable United States taxes  2,444  2,760  
Recoverable Swiss taxes  10 34 
Various other receivables  1,324 1,045  
Total other receivables  3,778 3,839  
 
5.50.   Other receivables include receivables from non -exchange7 transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables".  
5.51.   61% of the amount of "Other Receivables" in 2019 is due to amounts receivable from the 
United States Government for deferred income taxes of US staff members. Generally, staff members 
remunerated by the Organization are exempted from income taxes. However, the United States of 
America and Switzerland require their citizens and residents to file and pay tax es.  
5.52.   When a staff member is ob ligated to pay income tax to the United States of America, the WTO 
provides advances for estimated tax payments and subsequently asks for a reimbursement from the 
United States Government, in conformity with an Agreement between the WTO Secretariat and the  
United States of America, of 22 December 2000.  
5.53.   The method of reimbursement applied by the Government of the United States of America is 
different from the method applied by the WTO Secretariat. The difference in reimbursement methods 
results in a non -reimbursable amount of CHF 301,551 for 2019. In 2018 the amount was CHF 
334,193. The difference is due to the variation of the part of the non -WTO salary of the American 
staff members, which fluctuates from year to year.  
 
7 As per IPSAS 23.  WT/BFA/W/52 7 
- 56 - 
 
  5.54.   As an International Organization, the W TO is exempted from Swiss taxes such as value added 
tax (VAT), federal stamp duty and tax on the interest earned on investments. Annually, the WTO 
Secretariat files a tax reimbursement claim with the Swiss authorities. The reimbursement of such 
receivable is settled in the year following the year of the submission.  
5.4.8   Note 8 Advances and Prepayments  
Table 53 Advances and Prepayments  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Staff advances for salary, travel and education grant  3,048  3,106  
Advances relating to Trust Funds activities  1,613  1,686  
Other advances  1,117 963 
Total advances and prepayments  5,778 5,755  
 
5.55.   Staff advances for education grants, salary and travel decreased by 1.9% from 2018, 
advances relating to Trust Fund activities include advances paid to hotels where the activities were 
to be held as well as advances to implementing partners.  
5.56.   Other advance s include advances for about CHF 209, 142 paid by WTO for the 11th Ministerial 
Conference that were not yet reimbursed by the country that hosted the Ministerial Conference. The 
Secretariat has sent several letters and had meetings with the country's offic ials in Buenos Aires and 
those at the Mission of the Government of Argentina to the WTO, requesting that this amount be 
settled. There has not been much movement from the country on this.  
5.57.   The remaining balance in Other advances corresponds  to deferred expe nditure, payments 
made to suppliers, Consultants and insurance service providers.  
5.4.9   Note 9 Property, Plant and Equipment  
Table 54 Buildings  
Expressed in '000 CHF  Building  
Cost at 01/01/2019  134,543  
Additions                            -  
Cost at 31/12/2019  134,543  
Accumulated depreciation as at 01/01/2019  16,194  
Depreciation  in 2019  2,999  
Accumulated depreciation at 31/12/2019  19,193  
Net carrying amount at 31/12/2019  115,350  
 
5.58.   On 7th August  2015 the infrastructure contract signed between the WTO and the Swiss 
Authorities regarding  the Centre William Rappard building was registered at the "Registre foncier de 
Genève". This registration defines a new process of depreciation over 99 year s, that begins with the 
date of registration.  
5.59.   The agreement restricts the resale value of the Centre William Rappard Building. A provision 
for the right of use of the building is reported as part of the equity of the WTO and has appreciated 
accordingly usi ng the same rate of depreciation as that of the Building, resulting in a net -off effect.  
5.60.   The Centre William Rappard and the new administrative building belong to the WTO.  
5.61.   The WTO has benefited from contributions in -kind relating to the use of different bu ildings:  
a. Free right to use the Salle William Rappard. This conference centre is owned by the Canton 
of Geneva and maintained by the " Fondation des Immeubles pour les Organizations 
Internationales" (FIPOI).  
b. Free right to use the Villa Rappard and two small neighbouring villas. These villas are the 
property of the Canton of Geneva. The WTO bears the maintenance costs.  WT/BFA/W/52 7 
- 57 - 
 
  c. Free right to use an underground parking lot with 400  parking spaces, located in the 
neighbourhood.  
Table 55 Equipment  
Expressed in 
'000 CHF  Furniture  Audio 
visual 
equipment  Security 
equipment  Reproduction 
equipment  IT 
equipment  Vehicle  Total  
Cost at 
01/01/2019  9,346  7,905  4,196  1,638  3,415  255  26,755  
Additions  13  409  185  -  131  54  792  
Disposals  -23  -  -  -  -  -33  -56  
Cost at 
31/12/2019  9,336  8,314  4,381  1,638  3,546  276  27,491  
Accumulated 
depreciation 
01/01/2019  -5,417  -4,294  -2,461  -1,495  -3,041  -209  -16,917  
Depreciation  -922  -774  -381  -40  -245  -28  -2,390  
Disposals  15  -  -  -  -  33  48  
Accumulated 
depreciation 
at 
31/12/2019  -6,324  -5,068  -2,842  -1,535  -3,286  -204  -19,259  
Net carrying 
amount at 
31/12/2019  3,012  3,246  1,539  103  260  72  8,232  
 
5.4.10   Note 10 Intangible Assets  
Table 56 Intangible Assets  
Expressed in '000 CHF  Software 
acquired  Software internally 
developed  Total 
Intangible  
Assets  
Cost at 01/01/2019                     1,019                            466               1,485  
Additions                          -                                -                     -    
Disposals                          -                                -                     -    
Cost at 31/12/2019                    1,019                           466              1,485  
Accumulated depreciation 01/01/2019  -807  -466  -1,273  
Depreciation  for 2019                       -100                              -    -100  
Disposals                          -                                -                     -    
Impairment losses                          -                                -                     -    
Accumulated depreciation at 
31/12/2019  - 907  -466  -1,373  
Net carrying amount at 31/12/2019                       112                               0                 112  
 
5.4.11   Note 11  Accounts payable , accruals and provisions  
Table 57 Payables  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Suppliers                5,314             2,652  
WTO staff, consultants and interns                1,164             1,426  
Other payables                    19                  16  
Total payables               6,497            4,094  
 
5.62.   The total accounts payable include payables to suppliers, WTO staff members, consultants 
and interns, other payables, and accruals. The payables to suppliers arise from the purchase of 
goods and services that have been delivered but not yet paid for at the  end of 2019.  
5.63.   In 2019, the payables to the suppliers grows by 100%, it is mainly due to the payment terms 
to the insurance company (Allianz Worldwide Care Services) for the retirees and to the WHO  
(International Computing Centre ) for provision of various IT-hosting services . WT/BFA/W/52 7 
- 58 - 
 
  5.64.   The increase in payables to WTO staff members, Consultants and Interns mainly relates to 
premium for health insurance.  
Table 58 Accruals and P rovisions  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Accruals              1,550             6,588  
Provision s                9,513              3,863  
Total Accruals and Provisions             11,06 3          10,451  
 
5.65.    In 2019, the Accruals and Provisions balances are presented separately on the face of the 
Statement of Financial Position to align with IPSAS requirements. Consequently , CHF 9,3 million 
balance due to disability cases has been reclassified to Provisions.  
5.4.12   Note 12  Assessed contributions paid in advance  
5.66.   Contributions paid in advance by Members and Observers as at 31 December  2019 consist of 
advance payments received.  
Table 59 Contributions paid in Advance by Members and Observers  
Expre ssed in '000 CHF  31/12/2019  31/12/2018  Reference  
Contributions paid in advance by Members and Observers  12,443  4,824  Schedule B  
Contributions paid in advance by Observers  5 68  Schedule C  
Total contributions paid in advance by Members and 
Observers  12,448  4,891    
5.4.13   Note 13 Refundable v oluntary contributions  
Table 60 Refundable v oluntary  contributions (including advances)  
Expressed in '000 CHF  31/12/2019  31/12/2018  Schedule  
Balance due as of 31 December 2018 /2017  34,192  32,914    
Contributions paid in advance for 2019 /2018  activities  -2,279  -1,220    
Balance due as of 1 January   31,913  31,694   
Voluntary contributions received during the year  20,955  21,294  Schedule D   
Reimbursement in 2019 /2018  -58 -28    
Expenses incurred by trust funds  -21,964  -21,048  Note 20   
Balance due as at 31 December  30,846  31,913  Schedule E  
Receivables  -473 -   
Contributions paid in advance for 2020 /2019  activities  1,143  2,278    
Balance due as at 31 December  2019 /2018  (including 
advances)  31,516  34,191    
 
5.67.   In accordance with IPSAS 23, voluntary contributions subject to conditions (i.e. use of funds 
exclusively for specific activities within a project) have been classified under deferred revenue. 
Revenue is recognised up to the amount expensed in the period, corresponding to the completion of 
the specified activities.  
5.68.   In accordance with IPSAS, expenses are no longer recognised based on commitments but 
rather on accruals. Refundable v olunta ry contributions include commitments made to third parties 
regarding Trust Fund activities.  
5.69.   In 201 9 a total amount of CHF 58,186  was reimbursed from the LDCs Ministerial Trust Fund, 
upon their request. Specifically, CHF 33,962  was reimbursed to the Europea n Commission and 
CHF 24,224  to Ireland . 
 
 WT/BFA/W/52 7 
- 59 - 
 
  5.4.14   Note 14 Employee benefits  
Table 61 Provision for Employee Benefits  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Short -term benefits   Dependency allowance  50                     50  
   Untaken  compensatory time off  
and overtime                  8,786  8,425   
   Education grant                  1,335                 1,351  
   Home leave                    841                    787  
   Separation grant                    178                    118  
   Provision for Bonus                    480                    839  
Subtotal                 11,670              11,570  
Long-term benefits  Removal indemnity                  1,196                 1,193  
  Separation grant                  7,702                 7,685  
Post-employment 
benefits   ASHI              277,159              283,674  
   Pension            1,287,398  1,072,042  
Total            1,585,125         1,376,277  
5.70.   Liabilities relating to employee benefits are determined by professional actuaries or calculated 
by the WTO based on personnel data and past payment experience.  
5.71.   Short -term employee benefits include dependency allowances, untaken annual leave, 
education grant and home leave:  
a. The provision for dependency allowances is established to cover financial support for the 
dependants of staff members that may have become eligible in 2018 but for whom 
information has not y et been provided during the year. The dependency allowances 
provision is determined in order to provide sufficient financial coverage to unexpected 
dependency cost adjustments between the end of one financial year and the beginning of 
the following one.  
b. The maximum allowable accumulated annual leave is 60 days, which corresponds to a 
two-year entitlement that the employees can carry forward. For prudence the provision 
for untaken leave is based on 90 days.  
c. The provision for education grant is associated wi th the first four out of ten months of the 
school year, corresponding to the closing period for 2019 (i.e. from September to 
December).  
d. Staff members are entitled to go on home leave every two years. The provision for home 
leave is established to cover the  amount due to eligible staff members, in a given year, 
for their home leave. The rules to calculate the home leave estimation for internationally -
recruited staff members eligible for home leave are:  
i. The date of the last home leave is considered as the yea r during which the home leave 
was taken.  
ii.  A staff member who has not taken home leave for 2 years, i.e. since 2017, is entitled 
to 100% rights.  
iii. A staff member who has taken home leave in 2018 is assigned half of the right.  
iv.  A staff member who has taken hom e leave in 2019 has no entitlement.  
v. The amount of the last home leave paid is the estimation for the cost of the home 
leave. No provision has been made for staff members who entered before 2016 and WT/BFA/W/52 7 
- 60 - 
 
  never asked for home leave, as they are deemed to have foregone their rights for that 
period.  
5.72.   At the end of their employment contracts, eligible staff members receive a separation grant. 
Furthermore, international staff members leaving Switzerland are entitled to removal costs. The 
estimated amount of the provision for removal benefits is based on average costs of the 
removal/indemnity for the international staff members, based on data from the past six years.  
5.73.   The provision for the separation grant is based on the amount of the median salary and 
estimated inflation as well as on the weighted average  salary between the highest and the lowest 
value of WTO salary scales, which is calculated considering the number of employees with different 
pay scales. There is no increment for the employees who are in the maximum grade. The estimated 
adjustment for the  median salary comprises of the increment rate. Other assumptions such as the 
discount rate, working hours  and inflation rates are the same as the ones used for the actuarial 
valuation for pension and ASHI.  
5.74.   The rules to calculate the long -term separation g rant are:  
a. Local staff members with more than 10 years of service without dependents are entitled 
to one month of median salary.  
b. Local staff members with more than 10 years of service with dependents are entitled to 
two months of the median salary.  
c. Internat ional staff members with more than 10 years of service are entitled to two months 
of the median salary.  
d. International staff members with less than 10 years of service are not entitled to receive 
long term separation grant if they remain in Geneva after sep arating from the WTO.  
e. International staff members departing from Geneva with no dependents are entitled to 
two months of the median salary regardless of time of service.  
f. International staff members departing from Geneva with dependents are entitled to four  
months of median salary, which in turn depends on the pay scale, regardless of time of 
service. In this case the separation grant is paid in two parts: 50% at the moment of 
separation and the other 50% after the proof of relocation is provided.  
Table 62 Actuarial Assumptions to define benefit obligations  
Actuarial Assumptions  Pension  ASHI  
Discount rate  1.83%  1.83%  
Medical inflation rate  -  3.1%  
Inflation  1.00%  -  
Rate of compensation increase  0.6% for 6 years, 1.1% 
thereafter plus merit 
increases  -  
Rate of pension increase  1.0%   -  
 
Table 63 Actuarial Assumptions to define benefit costs  
Actuarial Assumptions  Pension  ASHI  
Discount rate  2% 2% 
Medical inflation rate  - 3.1%  
Inflation  0.6%  -    
Rate of compensation increase  0.6% for 6 years, 1.1% 
thereafter plus merit 
increases  -  
Rate of pension increase  0.6%   -  
Expected long -term rate of return of the WTO Pension Plan assets  2%  -  WT/BFA/W/52 7 
- 61 - 
 
  5.75.   The actuarial assumptions shown in the table 61 are used to calculate the liabilities for the 
WTOPP and ASHI at the year -end, using the end of year rates for 2019.  
5.76.   The actuarial assumptions shown in table 62 are used to calculate the service cost. This is  
calculated at  the beginning of the year, using the market rates at the end of the previous year. 
These service costs refer to the present value of the projected retirement benefits earned by the 
WTOPP  participants in the current period.  
Table 64 Financial Asset – Pension Asset  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Fair value of plan assets at beginning of year                    564,847       595,921  
Expected return on plan assets  5,083  11,762  
Actuarial (loss)/gain on plan assets net of actual investment 
expenses  64,808  -44,000  
Employer contributions  20,904  19,151  
Plan participants' contributions  9,680  9,576  
Benefits paid from the plan  -28,257  -25,742  
Expenses paid  -1,386  -836 
Premium paid  -992 -984 
Net transfer in(out) including effect of any business 
combinations/divestitures  - -1 
Foreign currency exchange rate changes  -  -  
Fair value of plan assets at end of year  634,687  564,847  
 
Table 65 Defined benefit obligation – Pension Benefit  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Benefit obligation at beginning of year  1,072,042  1,034,918  
Service cost  31,038  30,561  
Interest cost  21,066  20,518  
Plan participants' contributions  9,680  9,576  
Actuarial (gain)/loss  184,207  4,031  
Business combinations/divestitures/ transfers  -  -  
Benefits paid  -28,257  -25,742  
Premium paid  -2,378  -1,820  
Benefit obligation at end of year  1,287,398  1,072,042  
 
Table 66 History of defined benefit obligations and experience gains and losses – 
Pension  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Defined benefit obligation                 1,287,399       1,072,042  
Fair value of plan assets                    634,687          564,847  
Surplus / Deficit                       652,712          507,195  
 
Table 67 Defined benefit obligation – ASHI  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Benefit obligation at beginning of year                    283,674          228,938  
Service cost  9,039  9,179  
Interest cost  5,826  4,740  
Actuarial (gain)/loss  -18,527  43,097  
Benefits paid  -2,853  -2,281  
Benefit obligation at end of year  277,159  283,673  
 WT/BFA/W/52 7 
- 62 - 
 
  5.77.   The valuation of the post -employment benefit obligations should reflect the term of the 
expected payments under the WTOPP and ASHI  liability. The volatility in the actuarial valuations has 
had significant impact on the financial results. In 2019 the variation of the benefit obligation at the 
end of the year are mainly due to:  
a. changes in demographic assumptions (loss of 9.342 kCHF): such losses are explained by 
the employer contribution rate increase to 59.7% compared to 56.21% of last year.  
b. experience adjustments (loss of 33.755 kCHF): such negative adjustments are mainly 
expla ined by the premium evolution. In 2018 the premium increased to 632.80 CHF per 
month compared to 550.25 CHF in 2017. In percentage this represents an increase of 14% 
versus the actuarial assumed increase of 3.1%  
5.78.   The method of calculation of the discount r ate applied  to the WTOPP and ASHI liabilities was 
reviewed in 2015 in order to reduce volatility. In this regard, the spot rate was replaced with the 
reference interest rate for Swiss pension plans, which is determined by the Swiss Chamber of Pension 
Fund Experts (CSEP).  
Table 68 Summary of experienced actuarial gain or losses in the WTOPP  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Actuarial (loss)/gain on WTOPP and ASHI assets net of 
actual investment expenses  -184,207  -4,031  
Actuarial (loss)/gain on Pension Benefits  64,808  -44,000  
Total actuarial gain/(losses) for the WTOPP  -119,399  -48,031  
 in (thousands of CHF)  
Table 69 Summary of experienced actuarial gain or losses for ASHI  
Expressed in '000 CHF  12/31/2019  12/31/2018  
Total actuarial gain/(losses) for ASHI  18,527  -43,097  
5.79.   Pension and ASHI  benefits are calculated by consulting actuaries. The WTO pension liability 
amounts to CHF 1,287 million. This liability is counterbalanced by the corresponding pension's net 
fair value assets of CHF 635 million. As a result, the overall 2019 pension net l iability is 
CHF 653 million.  
5.80.   The 2019 liability for ASHI is CHF 277 million a decrease  of CHF 7 million compared to the 
previous year.  
5.81.   The discount rate is based on the rate by the Swiss Chamber of Pension Fund Experts (CSEP). 
And it is calculated as foll ows: 
a. two thirds according to the average performance of a representative pension fund index 
over the last 20 years ; 
b. One third according to the yield on ten -year Federal bonds less a margin of 0.5%; and  
c. The result is finally rounded down to the nearest 0.25%.  
5.82.   Actuarial gains or losses may result from increases or decreases in either the present value 
of a defined benefit obligation or the fair value of any related assets. Defining a discount rate with 
a reduced volatility across the years allows a better decision -making process and facilitates the 
identification of trends in benefits liabilities. In addition to the discount rate variations other causes 
of actuarial gains and losses include:  
a. unexpectedly high or low rates of employee turnover, earl y retirement or mortality, 
increases in salaries, changes in benefits or medical costs;  
b. the effect of changes in estimates of future employee turnover, early retirement, or 
mortality, or of increases in salaries, benefits, or medical costs; and  WT/BFA/W/52 7 
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  c. differences  between the actual return and the expected return on WTOPP assets.  
5.4.15   Note 15 Loan  
5.83.   The Organization received a CHF 60 million interest free loan from the Swiss Authorities 
(CHF 20 million for the transformation of the South and North courtyards and CHF 40 million for the 
new administrative building). The repayment period  of the loan is 5 0 years. As of 31December 2019 
the loan balance was CHF 51.6 million.  
5.4.16   Note 16 Working Capital Fund  
5.84.   Governments acceding to the WTO are obligated to make an advance to the Working Capital 
Fund in accordance with the scale of contributions applicable to the budget for the year of their 
accession. The minimum advance to the Working Capital Fund amounts to 0.5% of the value of the 
Working Capital Fund for countries or separate customs territories whose share of the total trade of 
Members is  0.5% or less.  
5.85.   In Dec ember 2019, the General Council approved to reallocate the surplus of year 2018, 
amounting to CHF 1.320 million  to the Working Capital Fund.  
Table 70 Working Capital Fund Statement  
Expressed in Thousands of CHF  31/12/2019  31/12/2018  
Advances made by Members                               4,724                         4,724  
Interest earned                               6,148                         6,161  
Transferred from the Budget ary Surplus                                       53,345  52,025  
Total liabilities and capital fund                            64,217  62,910  
 
5.4.17   Note 17 Reserves  
Table 71 Reserves  
Expressed in 
Thousands of CHF  Ministerial 
Operating 
Fund  Doha 
Development 
Global Trust 
Fund  Appellate 
Body 
Operating 
Fund  Building 
Renovation 
Fund Special 
Reserve 
Account 
Medical 
Insurance  Total  
Opening Balance at 
31/12/2018  596                 
1,000  2,560  15,340  3,354  22,850  
Replenishment of 
reserves  600                        
-  2,000  3,600                       
927                    
7,127  
Utilisation of 
reserves  -71  -  -4,560  -                                        -  -4,631  
Balance at 
31/12/2019       1,125             1,000  0       18,940        4,281  25,346  
 
5.86.   The WTO Reserve Funds, amounting to KCHF 25,346, include the following:  
a. In 2019, CHF 71,499 was spent from the Ministerial Conference Operating Fund to cover 
preparatory missions to Kazakhstan. The Ministerial Conference Operating Fund was 
replenished with the annual allocation of CHF 600,000.  
b. The Global Trust Fund was established in 2001 and the amount of CHF 1  million allocated 
together with its establishment  and beginning of operation was never used.  
c. The balance in the Appellate Body Operating Fund was transferred to Miscellaneous 
Income at the end of 2019.  
d. The Building Renovation Fund was provided with an  allocation of CHF 3. 6 million  in 2019 . 
The closing ba lance is CHF 18,940  million.  
e. The Special Reserve Account for Medical Insurance was established in December 2017, in 
accordance with a decision by the Committee on Budget, Finance and Administration.  WT/BFA/W/52 7 
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  5.87.   For compliance with IPSAS 19, budget provisions to the Building Renovation Fund and t o the 
special reserve account were identified within the equity as depicted in the table below:  
Table 72 Budget allocations and provisions for BRF and SRA  
Expressed in '000 CHF  Building 
Renovation Fund 
Budget  Special Reserve 
Accoun t Total  
Opening Balance at 01/01/2019  -12,900  -1,391  -14,291  
Allocation in 2019  -3,600  -569  -4,169  
Expenditure  -  -  0  
Balance at 31/12/2019  -16,500  -1,960  -18,460  
5.4.18   Note 18 Revenue  
5.88.   Revenue from non -exchange transactions includes revenue from assessed contributions from 
Members and Observers and voluntary contributions.  
a. Assessed Contributions amount to CHF 195.5 million and are presented in the budget 
performance section of the report and in detail in Schedule A of the Financial St atements.  
b. Contributions from Observers amount to CHF 616 ,000 and are detailed in Schedule A of 
the Financial Statements.  
c. Voluntary Contributions from Trust Funds amounted to CHF 21.964 million. This amount 
is summarized in the table below. The 2019 volunta ry contributions, by country, are 
detailed in Schedule D of the Financial Statements.  
Table 73 Voluntary Contributions  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Contributions  20,955  21,294  
Reimbursement of Contributions  -58 -28 
Voluntary Contributions net of reimbursement  20,897  21,266  
(Increase)/ Decrease amount relative  to the previous year 1,067  -218 
Total Voluntary Contributions  21,964  21,048  
5.89.   Revenue from exchange transactions is included in the line "Revenue from publications" and 
"Other revenue".  
5.90.   Income from publications including sales through the WTO bookshop and the WTO distributor 
as well as royalties, is summarized in the table below:  
  WT/BFA/W/52 7 
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  Table 74 Revenue from publicat ions 
Expressed in '000 CHF  31/12/2019  31/12/2018  
Revenue from publications printed in -house  259 200 
Sales of WTO publications  112 129 
Sales of non WTO publications  75 63 
Sales of souvenirs  47 40 
Other sales on Publications  43 29 
Total  536 461 
5.91.   Other revenue is summarized in the table below:  
Table 75 Other Revenue  
Expressed in '000 CHF  31/12/2019  31/12/2018  
Refund of prior year's outstanding obligations  3,734  857  
Rental of meeting rooms and office spaces  125  126  
Miscellaneous  408  318  
Total Other Revenue  4,267  1,301  
5.92.   The refund of prior year obligations includes refunds following account reconciliation and the 
release of a provision for legal damages.  
5.93.   Rental of meeting rooms and office space includes revenues generated by the outsourcing of 
WTO meeting facilities to o ther entities.  
5.94.   Miscellaneous revenue includes compensation received from the Insurance Company to cover 
invalidity cases.  
5.95.   Revenue from investment returns for the WTOPP amounted to about CHF 5 million. However 
the amount needs to be offset by the net partic ipants contributions for an amount of CHF 9.6 million. 
This generate a negative amount of CHF 4.6 million which allocated among the WTOPP actuarial 
costs. Therefore in 2019 the real return of investments from pension asset is CHF 0.  
  WT/BFA/W/52 7 
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  5.4.19   Note 19 Expenses  
5.96.   The main categories of expenses are summarized in the two tables below:  
Table 76 Staff Expenditures including Trust Funds  
Line 2019  2018  
Staff / Salary  87,054                    87,599  
Variation Provision medical  582 4,060  
Staff / Annual leave                          312                         323  
Variation Provision Annual Leave                          248  -266 
Staff / Overtime                            87  92 
Staff / Representation Allowance                          198  158 
Staff / Pension  20,064  18,640  
Staff / Retiree Health Insurance  2,969  2,726  
Staff / Health Insurance  5,584  5,466  
Death and Invalidity Insurance                          505  503 
Staff/ Allowances for Dependances  5,314  5,463  
Staff / Education Grant  4,262  4,321  
Variation Provision for Education Grant  -16  68 
Staff / Home Leave  1,293  1,316  
Variarion Provision for Home Leave                            54  -253 
Staff / Rental Subsidy                          386  455 
Staff / Travel and Removal                          488  594 
Variation Provision Travel & Removal                             3  160 
Staff / Installation Grant & Medical Examinations                          232  259 
Staff / Separation Grant  1,050  717 
Variation Separation indemnity                            17  404 
Staff / Negotiated Termination Indemnity  1,017  105 
Staff / US Taxes                          302  334 
Subtotal                   132,00 5  133,243  
Staff / Pension Actuarial Cost  26,117  23,517  
Staff / Retiree Health Insurance Actuarial Cost  12,012  11,639  
Grand Total                   170,13 4 168,399  
 
Table 77 Temporary Assistance including Trust Funds  
Line 2019  2018  
Short -Term Staff / Salary  6,938  5,555  
Short -Term Staff / Pension  858 566 
Short -Term Staff / Health Insurance  345 245 
Short -Term Staff / Annual Leave  316 306 
Short -Term Staff / Overtime  12 25 
Language and Translation costs  8,379  8,120  
Consulting costs  3,321  4,049  
Panellists & Appellate Body Members Fees  2,316  2,107  
Interns  3,177  2,406  
Consolidation with Trust Funds  -40 -38 
Total  25,622  23,340  
  WT/BFA/W/52 7 
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  5.97.   Other categories of expenditures reported in the Statement of Financial Performance are the 
following:  
a. Supplies and other general service expenditures include general administration costs such 
as the cost of utilities, maintenance costs, and publication co sts. In addition, costs for the 
purchase of supplies and small equipment and a write -off for obsolete publications are 
part of this category.  
b. Travel & Hospitality expenditure represents the costs related to travel on official mission; 
accommodation; ticket s for staff members; panellists and participants at trade -related 
technical activities, among others. Hospitality expenses are related to costs incurred by 
Senior Management for receptions; and providing food and refreshments during official 
meetings or of ficial meals.  
c. Implementing partners' expenditures amount to CHF 3.9  million and represent costs for 
activities funded by the WTO which are executed by third -party organizations.  
d. Contribution to ITC represents funds granted to the ITC for its core activiti es.  
e. The Ministerial Conference Operating Fund was used in 2019 to cover expenditures 
preparatory mission of CHF 68 ,000 for the Ministerial Conference which was scheduled to  
take place in June 2020.  
f. The depreciation of assets includes the amortisation of the liability related to the Centre 
William Rappard following the concession of a right of use of the Centre William Rappard 
premises by the Canton de Genève.  
g. Finance and foreign exchange costs refer mainly to interest paid to banks and expenses 
due to exc hange rate transactions among different currencies.  
5.4.20   Note 20 Segment reporting  
5.98.   Segment information is based  on: i) the regular budget of the WTO, and ii) Trust Funds. 
Segment reporting will only be presented for the Statement of Financial Performance.  
5.99.   The o nly transfer across segments relates to the reallocation of part of the flows into the 
Programme Support Fund to the regular budget. Of this amount, 10% is statutorily credited back to 
the WTO regular budget as a contribution in recognition of the fact tha t the Organization's resources 
are being used for the delivery of the technical assistance activities financed from the extra -
budgetary funds (corresponding to the amount of CHF 189,973). The counterpart of this amount is 
redistributed as follows:  
a. 80% of t his contribution is allocated to supplies and other general services costs 
(corresponding to the amount of CHF 151,978).  
b. 20% of this contribution is allocated to Temporary Assistance (corresponding to the 
amount of CHF 37,995).  
  WT/BFA/W/52 7 
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  Table 78 Financial Performance by segments year 2019  
Expressed in '000 CHF  WTO 
Budget  Trust Funds  Inter -Fund 
Transactions  TOTAL 
WTO  
REVENUE          
Contributions assessed on Members  195,500  - - 195,500  
Contributions of Observers  616 - - 616 
Voluntary contributions on trust funds  - 21,964  - 21,964  
Profit / Loss on fixed asset s   - - - 
Extraordinary revenue - FIPOI  - - - - 
Revenue from publications  536     536 
Other revenue  4,467  - -201 4,268  
Transfer from  the Building Renovation 
Fund - - - - 
WTO Pension Plan revenue  - - - - 
Total revenue  201,119  21,964  -201 222,883  
          
EXPENSES          
Staff expenditure  -124,639  -7,366  - -132,005  
Actuarial cost for ASHI  -12,012  - - -12,012  
Actuarial cost for pension  -26,117  - - -26,117  
Temporary assistance  -21,767  -3,895  40 -25,622  
Supplies, write off and other general 
services costs  -15,131  -431 161 -15,401  
Travel & hospitality  -7,771  -6,696  - -14,467  
Implementing partners  -428 -3,501  - -3,929  
Contribution to ITC  -18,243  - - -18,243  
Ministerial Conference Operating Fund  -529 - - -529 
Appellate Body Operation Fund  -766 - - -766 
Depreciation  -5,488  - - -5,488  
Provision for contributions in arrears  -394 - - -394 
Depreciation of provision for right of 
use – CWR 606 - - 606 
Finance costs  -273 -75 - -348 
Loss/(Gain) on foreign exchange 
transactions  -63 - - -63 
Building Renovation Fund  - - - - 
          
Total expenses  -233,015  -21,964  201 -254,77 9 
          
Surplus/(deficit) for the period  -31,896  - - -31,896  
5.4.21   Note 21 Reconciliation with Budget  
5.100.   The WTO consolidated budget includes the budget for the WTO Secretariat and the budget 
for the Appellate Body and its Secretariat. The WTO Financial Statements also include the activities 
financed by the Trust Funds. The WTO Consolidated Budget is approved on a modified cash basis 
(no capitalisation of assets and no recognition of long -term employee benefits) whereas the Financial 
Statements are issued  on an accrual basis (IPSAS).  
5.101.   A statement of comparison of the original 201 9 budget and actual amounts is presented in 
the first narrative part of this report where material differences are explained. The following table 
reconciles the budgetary result wit h the financial results as obtained from the implementation of 
IPSAS.  WT/BFA/W/52 7 
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  Table 79 Reconciliation of the budgetary result and financial result  
Expressed in '000 CHF    
Budgetary savings - 31/12/2019  1,801  
Miscellaneous income                       3,603  
Provision for contribution in arrears  -394  
Surplus - 31/12/2019  5,010  
    
Loan reimbursement                       1,200  
Sales of Assets  -8  
Production stocked                          259  
Building Renovation Fund Allocation                       3,600  
Acquisition of property, plant and equipment                          543  
Depreciation and amortisation of property, plant and equipment  -5,488  
Depreciation of provision for right of use - CWR                         606  
Staff Provisions                          511  
Pension benefits actuarial valuation (net value)  -26,117  
After service health insurance (ASHI) benefits actuarial valuation  -12,012  
    
Financial result - 31/12/2019  -31,896  
 
5.102.   The financial deficit for 2019 is kCHF 31,896 . 
5.4.22   Note 22 Key management personnel  
5.103.   Key management personnel have the authority and responsibility for planning, directing and 
controlling the activities of the WTO. These are the Director -General and the four Deputy Directors -
General.  
5.104.   The aggregate remuneration paid to key management personnel includes net salaries, 
entitlements such as education grant, home leave and dependency allowances, empl oyer pension 
and health insurance contributions.  
Table 80 Key management personnel  
Expressed in 
CHF Number 
of Staff 
Members  Net salaries and 
representation 
allowances  Other 
entitlements  Pension and 
health plans  Total 
31/12/2019  
Key 
management 
personnel  5 1,545,030  30,308  322,067  1,897,405  
 
5.4.23   Note 23 Contingent assets and contingent liabilities  
5.105.   At the end of 2019, the Organization held bank guaranties  of approximately CHF  186,000 
for the Welcome Pavilion.  
5.4.24   Note 24 Events after the reporting date  
5.106.   No material events that would have impacted on these statements occurred between the 
reporting date and the date when the Financial Statements were authorised for issue.  
  WT/BFA/W/52 7 
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  5.5  Schedules  
5.5.1   Schedule A 2019 Statement of Contributions from Members  
Table 81 Contributions from Members in 2019 (in CHF)  
Country  Net Assessed  
Contributions 2019  
Afghanistan                       46,920  
Albania                       41,055  
Angola                     428,145  
Antigua and Barbuda                       29,325  
Argentina                     733,125  
Armenia                       37,145  
Australia                  2,594,285  
Austria                  1,911,990  
Bahrain, Kingdom of                     246,330  
Bangladesh                     338,215  
Barbados                       29,325  
Belgium                  3,646,075  
Belize                       29,325  
Benin                       29,325  
Bolivia, Plurinational  
State of                     103,615  
Botswana                       74,290  
Brazil                  2,394,875  
Brunei Darussalam                       72,335  
Bulgaria                     310,845  
Burkina Faso                       33,235  
Burundi                       29,325  
Cabo Verde                       29,325  
Cambodia                     105,570  
Cameroon                       70,380  
Canada                  4,922,690  
Central African 
Republic                       29,325  
Chad                      39,100  
Chile                    731,170  
China                 19,737,680  
Colombia                     563,040  
Congo                       78,200  
Costa Rica                     152,490  
Côte d'Ivoire                     109,480  
Croatia                     220,915  
Cuba                    136,850  
Cyprus                     121,210  
Czech Republic                  1,388,050  
Democratic Republic of 
the Congo                     105,570  
Denmark                  1,517,080  
Djibouti                       29,325  
Dominica                       29,325  
Dominican Republic                     164,220  
Ecuador                     228,735  
Egypt                     496,570  
El Salvador                       78,200  
Estonia                     175,950  
European Union                             -    
Fiji                      29,325  WT/BFA/W/52 7 
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  Country  Net Assessed  
Contributions 2019  
Finland                     877,795  
France                  7,440,730  
Gabon                       60,605  
The Gambia                       29,325  
Georgia                       70,380  
Germany                 13,882,455  
Ghana                     166,175  
Greece                     608,005  
Grenada                       29,325  
Guatemala                     146,625  
Guinea                       29,325  
Guinea -Bissau                       29,325  
Guyana                       29,325  
Haiti                      29,325  
Honduras                       76,245  
Hong Kong, China                  5,427,080  
Hungary                     991,185  
Iceland                       76,245  
India                 4,445,670  
Indonesia                  1,722,355  
Ireland                  2,361,640  
Israel                     842,605  
Italy                 5,096,685  
Jamaica                       52,785  
Japan                  7,896,245  
Jordan                     168,130  
Kazakhstan                                                  570,860  
Kenya                     127,075  
Korea, Republic of                  5,777,025  
Kuwait, the State of                     645,150  
Kyrgyz Republic                       41,055  
Lao People's 
Democratic Republic                       37,145  
Latvia                     160,310  
Lesotho                       29,325  
Liberia                       29,325  
Liechtenstein                       64,515  
Lithuania                     316,710  
Luxembourg                     930,580  
Macao, China                     256,105  
Madagascar                       31,280  
Malawi                       29,325  
Malaysia                  1,966,730  
Maldives                       29,325  
Mali                      31,280  
Malta                     136,850  
Mauritania                       29,325  
Mauritius                       58,650  
Mexico                  3,720,365  
Moldova, Republic of                       37,145  
Mongolia                       54,740  
Montenegro                       29,325  
Morocco                     353,855  
Mozambique                       70,380  
Myanmar                     115,345  WT/BFA/W/52 7 
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  Country  Net Assessed  
Contributions 2019  
Namibia                       50,830  
Nepal                       44,965  
Netherlands                  5,745,745  
New Zealand                     459,425  
Nicaragua                       54,740  
Niger                       29,325  
Nigeria                     656,880  
Norway                  1,411,510  
Oman                     383,180  
Pakistan                     346,035  
Panama                     263,925  
Papua New Guinea                       62,560  
Paraguay                     111,435  
Peru                    418,370  
Philippines                     719,440  
Poland                  2,142,680  
Portugal                     772,225  
Qatar                     793,730  
Romania                     688,160  
Russian Federation                  3,937,370  
Rwanda                       29,325  
Saint Kitts and Nevis                       29,325  
Saint Lucia                       29,325  
Saint Vincent and the 
Grenadines                       29,325  
Samoa                       29,325  
Saudi Arabia, Kingdom 
of                 2,326,450  
Senegal                       46,920  
Seychelles                                                    29,325  
Sierra Leone                       29,325  
Singapore                  4,774,110  
Slovak Republic                     768,315  
Slovenia                     303,025  
Solomon Islands                       29,325  
South Africa                     973,590  
Spain                  3,663,670  
Sri Lanka                     173,995  
Suriname                       29,325  
Eswatini                       29,325  
Sweden                  2,068,390  
Switzerland                  3,710,590  
Chinese Taipei                  3,384,105  
Tajikistan                       29,325  
Tanzania                       95,795  
Thailand                  2,404,650  
The former Yugoslav 
Republic of Macedonia                       52,785  
Togo                      29,325  
Tonga                       29,325  
Trinidad and Tobago                     117,300  
Tunisia                     199,410  
Turkey                  2,011,695  
Uganda                       54,740  
Ukraine                     627,555  
United Arab Emirates                  3,071,305  WT/BFA/W/52 7 
- 73 - 
 
  Country  Net Assessed  
Contributions 2019  
United Kingdom                  7,446,595  
United States of 
America                 22,660,405  
Uruguay                     144,670  
Vanuatu                       29,325  
Venezuela, Bolivarian 
Republic of                     570,860  
Viet Nam                  1,401,735  
Yemen                       89,930  
Zambia                       86,020  
Zimbabwe                                                      54,740  
TOTAL             195,500,000  
 
Table 82 Contributions from Observers in 2019 – (in CHF)8 
Observers  2019  
Contribution  
CHF 
Algeria  29,325.00  
Andorra  29,325.00  
Azerbaijan  29,325.00  
Bahamas  29,325.00  
Belarus  29,325.00  
Bhutan  29,325.00  
Bosnia and Herzegovina  29,325.00  
Comoros  29,325.00  
Equatorial Guinea  29,325.00  
Ethiopia  29,325.00  
Holy See  29,325.00  
Iran 29,325.00  
Iraq 29,325.00  
Lebanese Republic  29,325.00  
Serbia  29,325.00  
Somalia  29,325.00  
South Sudan  29,325.00  
Sudan  29,325.00  
Syrian Arab Republic  29,325.00  
Timor -Leste  29,325.00  
Uzbekistan  29,325.00  
TOTAL  615,825.00  
 
 
 
8 Libya and Sao Tome and Principe assessed contributions are not listed as both countries are under 
category III.  WT/BFA/W/52 7 
- 74 - 
 
  5.5.2   Schedule B Statement of Outstanding Contributions as at 31 December  2019 – 
Members  
Table 83 Outstanding contributions as at 31  December  2019 – Members – (in CHF)  
Members 
Contributions 
(Swiss Francs)  Category9 1980 -2017  2018  2019  TOTAL  Advance  
Afghanistan   - - - - - 
Albania   - - - - - 
Angola   - - - - - 
Antigua and 
Barbuda  III 58,883  29,325  29,325  117,533  - 
Argentina   - - 99,801  99,801  - 
Armenia   - - - - - 
Australia   - - - - - 
Austria   - - - - 1,917,855  
Bahrain, Kingdom 
of  - - - - - 
Bangladesh   - - - - - 
Barbados   - - - - - 
Belgium   - - - - - 
Belize   - - - - - 
Benin   - - - - 1,831  
Bolivia, 
Plurinational State 
of  - - 103,615  103,615  - 
Botswana   - - - - - 
Brazil   - - 1,120,491  1,120,491  - 
Brunei Darussalam   - - - - - 
Bulgaria   - - - - - 
Burkina Faso   - - - - 20,703  
Burundi  III 550,956  29,325  29,325  609,606  - 
Cabo Verde   - - 24,210  24,210  - 
Cambodia   - - - - - 
Cameroon   - - 67,267  67,267  - 
Canada   - - - - - 
Central African 
Republic   825,811  29,325  29,325  884,461  - 
Chad  460,762  43,010  39,100  542,872  - 
Chile  - - - - - 
China   - - - - - 
Colombia   - - 163,920  163,920  - 
Congo  II 180,167  84,065  78,200  342,432  - 
Costa Rica   - - - - 11,931  
Côte d'Ivoire   - - 20,176  20,176  - 
Croatia   - - - - - 
Cuba  - 142,714  136,850  279,564  - 
Cyprus   - - - - - 
Czech Republic   - - - - - 
Democratic 
Republic of the 
Congo  I - 103,615  105,570  209,185  - 
Denmark   - - - - - 
Djibouti   - - 1,219  1,219  - 
Dominica   - - - - - 
Dominican Republic   - - - - 6 
Ecuador   - - - - 374 
 
9 There are 12 Members under administrative measures, in Categor ies I, II and III.  WT/BFA/W/52 7 
- 75 - 
 
  Members 
Contributions 
(Swiss Francs)  Category9 1980 -2017  2018  2019  TOTAL  Advance  
Egypt   - - - - - 
El Salvador   - - - - 105 
Estonia   - - - - 175,950  
Eswatini   - - - - - 
European Union10  - - - - - 
Fiji  - - - - - 
Finland   - - - - - 
France   - - - - - 
Gabon   - - - - - 
The Gambia   - - 1,668  1,668  - 
Georgia   - - - - - 
Germany   - - - - - 
Ghana   - 158,749  166,175  324,924  - 
Greece   - - - - - 
Grenada   - - - - - 
Guatemala   - - - - - 
Guinea   - 1,483  29,325  30,808  - 
Guinea -Bissau  III 649,463  29,325  29,325  708,113  - 
Guyana   - - - - 734 
Haiti  - - - - - 
Honduras   - - - - 35,471  
Hong Kong, China   - - - - - 
Hungary   - - 25 25 - 
Iceland   - - - - - 
India  - - - - 4,455,445  
Indonesia   - - - - - 
Ireland   - - - - - 
Israel   - - - - 856,290  
Italy  - - - - - 
Jamaica   - - - - - 
Japan   - - - - - 
Jordan   - - - - - 
Kazakhstan   - - - - - 
Kenya   - - - - - 
Korea, Republic of   - - - - - 
Kuwait, the State 
of  - - - - - 
Kyrgyz Republic   - - - - - 
Lao People's 
Democratic 
Republic   - - - - - 
Latvia   - - - - - 
Lesotho   - - - - 5,879  
Liberia  I 5,262  29,325  29,325  63,912  - 
Liechtenstein   - - - - - 
Lithuania   - - - - - 
Luxembourg   - - - - 97,224  
Macao, China   - - - - - 
Madagascar   - - 1,170  1,170  - 
Malawi   - 557 29,325  29,882  - 
Malaysia   - - - - - 
Maldives   - - - - - 
 
10 European Union Member States pay contributions on an individual basis i.e. there is no global 
assessment of the EU's contributions.  WT/BFA/W/52 7 
- 76 - 
 
  Members 
Contributions 
(Swiss Francs)  Category9 1980 -2017  2018  2019  TOTAL  Advance  
Mali  - - - - 1,478  
Malta   - - - - - 
Mauritania   - - 29,242  29,242  - 
Mauritius   - - - - - 
Mexico   - - - - - 
Moldova, Republic 
of  - - - - 37,145  
Mongolia   - - - - - 
Montenegro   - - - - - 
Morocco   - - - - - 
Mozambique   - - - - - 
Myanmar   - - 2,246  2,246  - 
Namibia   - - - - - 
Nepal   - - 143 143 - 
Netherlands   - - - - - 
New Zealand   - - - - - 
Nicaragua   - - - - - 
Niger  III 536,575  29,325  29,325  595,225  - 
Nigeria   - - 648,616  648,616  - 
Norway   - - - -  
Oman   - - - - - 
Pakistan   - - 1,234  1,234  - 
Panama   - - - - 1,726  
Papua New Guinea   - - - -  
Paraguay   - - - - - 
Peru  - - 178,343  178,343  - 
Philippines   - - - - - 
Poland   - - - - - 
Portugal   - - - - - 
Qatar   - - - - - 
Romania   - - - - - 
Russian Federation   - - - - - 
Rwanda   - - 29,325  29,325  - 
Saint Kitts and 
Nevis   - - - - 455 
Saint Lucia   - - - - - 
Saint Vincent and 
the Grenadines   - - - - 21,196  
Samoa   - - - - 15 
Saudi Arabia, 
Kingdom of   - - - - - 
Senegal  I 42,895  46,920  46,920  136,735  - 
Seychelles   - - - - - 
Sierra Leone  III 639,521  29,325  29,325  698,171  - 
Singapore   - - - - 4,744,785  
Slovak Republic   - - - - - 
Slovenia   - - - - - 
Solomon Islands   - - - - - 
South Africa   - - - - - 
Spain   - - - - - 
Sri Lanka   - - - - - 
Suriname   - - 29,126  29,126  - 
Sweden   - - - - - 
Switzerland   - - - - - 
Chinese Taipei   - - - - - 
Tajikistan   - - - - 675 WT/BFA/W/52 7 
- 77 - 
 
  Members 
Contributions 
(Swiss Francs)  Category9 1980 -2017  2018  2019  TOTAL  Advance  
Tanzania   - 2,539  95,795  98,334  - 
Thailand   - - - - - 
The former 
Yugoslav Republic 
of Macedonia   - - - - 55,000  
Togo  - - 20 20 - 
Tonga   - - 29,325  29,325  - 
Trinidad and 
Tobago   - - - - - 
Tunisia   - - - - - 
Turkey   - - - - - 
Uganda   - - 4,205  4,205  - 
Ukraine   - - - - - 
United Arab 
Emirates   - - - - - 
United Kingdom   - - - - - 
United States of 
America   - - 11,330,202  11,330,202  - 
Uruguay   - - - - - 
Vanuatu   - - 4,843  4,843  - 
Venezuela, 
Bolivarian 
Republic of  III 2,966,667  664,700  570,860  4,202,227  - 
Viet Nam   - - - - - 
Yemen  I - 89,930  89,930  179,860  - 
Zambia   - 2,174  86,020  88,194  - 
Zimbabwe  I 48,818  56,695  54,740  160,253  - 
TOTAL  12 6,965,780  1,602,426  15,624,517  24,192,735  12,442,273  
 
5.5.3   Schedule C Statement of Outstanding Contributions as 31  December  2019 – 
Observers  
Table 84 Outstanding contributions as 31  December  2019 – Observers  
Observers (23)  Cat.11 2001 -2017  2018  2019  TOTAL  Advance  
Algeria   - - - - - 
Andorra   - - - - - 
Azerbaijan   - - - - - 
Bahamas   - - - - - 
Belarus   - - - - - 
Bhutan   - - - - - 
Bosnia and Herzegovina   - - - - - 
Comoros  I 16,617  29,325  29,325  75,267  - 
Equatorial Guinea   - - 29,325  29,325  - 
Ethiopia   - - 29,325  29,325  - 
Holy See   - - - - 5,270  
Iran  - - 29,325  29,325  - 
Iraq  - - 118 118 - 
Lebanese Republic   - - 29,325  29,325  - 
Libya III 84,546  n/a n/a 84,546  - 
Sao Tome and Principe  III 306,529  n/a n/a 306,529  - 
Serbia   - - - - - 
Somalia  II 31,334  29,325  29,325  89,984  - 
 
11 There are five Observers under Administrative Measures.  WT/BFA/W/52 7 
- 78 - 
 
  Observers (23)  Cat.11 2001 -2017  2018  2019  TOTAL  Advance  
South Sudan  I 1,527  29,325  29,325  60,177  - 
Sudan   - - 28,513  28,513  - 
Syrian Arab Republic   - - 29,325  29,325  - 
Timor -Leste   - - 26,525  26,525  - 
Uzbekistan   - - - - 1 
TOTAL  5 440,553  87,975  289,756  818,284  5,271  
   
 
  WT/BFA/W/52 7 
- 79 - 
 
5.5.4   Schedule D Voluntary contributions received in 2019  
Table 85 Voluntary contributions received in 2019 by fund   
Doha development agenda global 
trust fund  
STDF Standards and trade 
development facility  
Enhanced integrated framework 
– Executive  secretariat  
French -Irish Intership 
Programme  
Netherland trainee Programm  
China LDCs and accessions 
programme  
Trade Facilitation Agreement 
Facility  
Data Set on Trade in Services by 
Sector and Mode of Supply  
EIF - LDC Graduation Fund  
WTO Fisheries for the 
participation of LDC Capital -
Based Officials  
ASYCUDA TIVA Databases  
Transferring  technologies and 
know -how for  
the development of cotton  
in eight pilot  African LDCs  
LDCs  in the 12th WTO 
Ministerial Conference, Nur -
Sultan, Kazakhstan,  
8-11 June 2020  
Total 
Sweden  1,955,184  1,100,255             3,055,439  
UNOPS    4,482,861       199,800    146,550   4,829,211  
Norway  541,213  703,577         115,069    32,473  1,392,333  
Netherlands   575,000    875,000          1,450,000  
Germany  1,099,000              1,099,000  
European 
Union  1,128,400  663,600       5,002      49,455  1,846,457  
United States  485,122  798,900             1,284,022  
France  488,250  162,750   868,000    108,500        1,627,500  
Denmark   586,682             586,682  
Australia   360,479         15,525     376,005  
United Kingdom   803,750             803,750  
Ireland   165,900   222,000          43,960  431,860  
Japan  231,601              231,601  
China (People's 
Republic)       499,500      1,091,200    1,590,700  
Austria  226,600              226,600  
New Zealand           38,455     38,455  
Liechtenstein  40,000              40,000  
Estonia  22,800              22,800  
Lithuania  22,800              22,800  
Total  6,240,970  5,920,894  4,482,861  1,090,000  875,000  499,500  108,500  5,002  199,800  169,049  1,091,200  146,550  125,888  20,955,214    
 
  WT/BFA/W/52 7 
- 80 - 
 
5.5.5   Schedule E Balance due to contributors  as 31  December  2019  
Table 86 Balance due as 31  December  2019  by trust fund 
 
Doha Development 
Agenda Global Trust  
Fund  
French -Irish Mission 
Internship Programme  
Netherlands Trainee 
Program  
WTO Fisheries for the 
Participation of LDC 
Capital -Based Officials  
Trade Facilitation 
Agreement Facility  
STDF Standards and 
Trade Development 
Facility  
EIF -LDC Graduation  
 Fund  
China LDCs and 
Accessions Programme  
Data Set on Tra de in 
Services by Sector and 
Mode of Supply * 
Transfering Technologies 
and Know -how for the 
Development of Cotton in 
eight pilot African LDCs  
Natural Disasters and 
Trade  
11th and 12th Ministerial 
Conference  
CDCRI: Investment 
Facilitation for 
Development  
CDCRI: Asycuda TIVA 
Databases  
Total  
Australia  447,838      3,098  535,807   521,176          7,699  131,079      1,646,697  
Austria  328,040         140,051                          -        468,091  
Canada        58,364             460,063            33,028      551,455  
China             677,112        748,685           -    195,931  1,088,912  2,100,640  
Denmark    125,340             880,973                     -        1,006,313  
Estonia               -                                    -        0 
European Union                -                       50,506      50,506  
Finland      437,357           284,421    377,304            21,712      1,120,793  
France      780,384  969,913         171,438   241,829                         -        2,163,564  
Germany   1,770,722              233,594                        -        2,004,317  
Ireland     258,682          22,942    358,175              44,515      684,315  
Japan      308,749              42,988                        -        351,737  
Korea (Republic 
of)     332,619                                     -        332,619  
Liechtenstein        62,149                                     -        62,149  
Lithuania               -                                     -        0 
Luxembourg                                        -        0 
Netherlands     163,056    1,182,348       1,372,598                         -        2,718,002  
New Zealand         7,675     31,426                            -        39,101  
Norway   1,165,916      22,962  2,960,362  1,244,827             73,421      5,467,489  
Sweden   2,617,391           2,263,219              27,652      4,908,262  
Switzerland       68,622               33,559            22,999      125,179  
Chinese Taipei               -           22,349     50,146                      -        72,495  
United Kingdom             237,810   952,893                     -        1,190,703  
United States      977,433           28,698    358,445                       -        1,364,576  
EIF       119,926    77,715      197,641  
Total  9,643,979  1,228,596  1,182,348  33,735  5,112,416  9,391,790  119,926  748,685  0 77,715  7,699  404,912  195,931  1,088,912 29,236,644  
*   Activities of the fund are formally concluded and will be closed as of 31 December 2019     
 
  WT/BFA/W/52 7 
- 81 - 
 
               
Table 87 Balance due as 31  December  2019  by administrative fund 
 Enhanced Integrated 
Framework – Executive 
Secretariat  Independent Entity  Program Support Fund  Total  
Organizations:           
UNOPS  482,906       482,906  
Others:          
Bureau Veritas International    17,597    17,597  
Cotecna International Ltd.    17,504    17,504  
Inchape  Testing Services International Ldt.    17,597    17,597  
Inspectorate Griffith Ltd.    17,599    17,599  
Société Générale de Surveillance    17,438    17,438 
WTO Members       1,039,300  1,039,300  
Total  482,906  87,735  1,039,300  1,609,941  
 
 
 WT/BFA/W/52 7 
- 82 - 
  5.5.6   Schedule F World Trade Organization – Programme Support Fund  
Table 88 WTO Programme Support Fund  
  2019  2018  
Opening Balance  939,003  1,023,582  
Income of the year  2,521,597  2,401,734  
Retrocession to other organizations  -210,873  -396,606  
Total income  3,249,728  3,028,710  
Salary costs  -2,009,479  -1,890,342  
Share of certain secretariat cost and other costs  -200,948  -199,365  
Total costs  -2,210,427  -2,089,707  
Closing balance  1,039,301  939,003  
 
Table 89 WTO Programme Support Fund actual expenditure and overheads  
Funds in CHF  Actual 
expenditure 
CHF Overheads 
(PSF Income)  Actual 
expenditure 
CHF Overheads 
(PSF Income)  
 
2019  2019  2018  2018  
Doha Development Agenda Global Trust 
Fund 8,129,879  1,056,884  7,384,431  959,976  
Enhanced Integrated Framework –  
Executive Secretariat  3,900,525  507,068  3,891,418  505,884  
Mission Internship Programme  992,893  129,076  796,822  103,587  
Ministerial Conference - LDCs - - (8,867 ) (1,153 ) 
Netherlands Trainee Programme  594,320  77,262  - - 
Trade Facilitation Agreement Facility  1,071,252  139,263  611,141  79,448  
ASYCUDA TIVA Databases  1,071  139 - - 
Standards and Trade Development Facility  4,184,184  543,944  5,344,798  694,824  
China LDCs and Acces sions Programme  283,553  36,862  284,489  36,984  
Data Set on Trade in Services by Sector and 
Mode of Supply  21,868  858 74,345  5,204  
WTO Fisheries for the participation of LDC 
Capital -Based Officials  119,649  15,554  - - 
Transferring technologies and know -how for 
the development of cotton in eight pilot 
African LDCs  64,242  4,497  - - 
EIF - LDC Graduation Fund  74,386  5,207  - - 
China Development Cooperation Research 
Fund (421)  (55) 78,957  10,264  
Natural and Disaster Trade Fund  38,751  5,038  51,659  6,716  
Total  19,476,153  2,521,597  18,509,192  2,401,734  
 
 WT/BFA/W/52 7 
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 Table 90 Overheads shared with other Organizations for 2019  
Overheads shared with other organizations  Retrocession amount  
  2019  
Asian Pesticide Residue Mitigation (STDF 634 PPG)                 -1,843.93  
RSCCT (STDF 375 - PROJECT)                 -7,662.78  
MRCCCB  (STDF 577 PPG)                 -3,140.89  
AIRS (STDF 534 – PROJECT)               -25,701.63  
 EMATA  (STDF 447 - PROJECT)               -47,333.28  
PRAP (STDF 495 - PROJECT)                 -9,301.04  
SPSC (STDF 242)                 -4,580.50  
TPA (STDF 682 PPG)                 -3,311.36  
RCM (STDF 566 PPG)               -10,105.86  
CSIS (STDF 578 - PROJECT)                 -5,163.36  
FVS (STDF 543 - PROJECT)               -15,257.72  
SSVC (STDF 517 - PROJECT)               -33,021.70  
RSCCP (STDF 498 - PROJECT)                 -6,934.89  
SQSPP (STDF 593 - PROJECT)                 -6,004.80  
ECFSM (STDF 569 - PROJECT)               -37,252.71  
IDELE (STDF  534 - PROJECT) *                 6,850.10  
(ESCAP – TDA190021)                 -1,106.16  
Total           (210,872.51)  
 
* This represents reimbursement as the final expenses related to this project were less than anticipated. 
Therefore, IDELE had to reimburse funds (and anticipated overhead) to the WTO.  
 
__________