RESTRICTED  
  
WT/BFA/W/450  
 
15 June 2018  
(18-3720) Page: 1/80 
Committee on Budget, Finance and Administration    
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
WORLD TRADE ORGANIZATION  
2017 FINANCIAL PERFORMANCE REPORT  
 
 WT/BFA/W/450  
 
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  EXECUTIVE SUMMARY  
1. The 2017 WTO financial statements are prepared in accordance with International Public 
Sector Accounting Standards (IPSAS).  
2. In this 7th year of a Zero Nominal Growth budget, the expenditure amounted to 
CHF 196.7  million, compared to the budget of CHF  197.2  million. Resulting in a budgetary surplus 
of CHF 0.5 million.   
3. After adjusting the budgetary surplus as per IPSAS, the financial result obtaine d is a deficit 
of CHF  30.9 million. The key adjustments were the actuarial cost of pension and After Service 
Health Insurance ( ASHI) benefits.  
4. The Doha Development Agenda Globa l Trust Fund (DDAGTF) along with several other Trust 
Funds financed technical assistance programmes and training activities for Developing and Least 
Developed Countries.  WT/BFA/W/450  
 
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  TABLE OF CONTENTS  
1   INTRODUCTION  ................................ ................................ ................................ ..........  6 
1.1   Budget  ................................ ................................ ................................ .......................  6 
1.2   Outstanding contributions  ................................ ................................ .............................  7 
1.3   Budget Breakdown  ................................ ................................ ................................ ...... 8 
1.4   Capacity Building  ................................ ................................ ................................ .........  9 
1.5   Budget and financial result  ................................ ................................ .......................... 10 
2   BUDGET PERFORMANCE  ................................ ................................ ............................  11 
2.1   2017 WTO Income  ................................ ................................ ................................ ......11 
2.2   Consolidated WTO Budget Performance  ................................ ................................ ......... 12 
2.3   2017 WTO Secretariat Budget Performance  ................................ ................................ ...13 
2.4   Part A - Staffing Resources  ................................ ................................ .......................... 14 
2.5   Staff Expenditure ................................ ................................ ................................ ........ 14 
2.6   Temporary Assistance Expenditure  ................................ ................................ ............... 15 
2.7   Part B - Other Resources  ................................ ................................ ............................. 15 
2.8   General Services  ................................ ................................ ................................ ........ 16 
2.9   Travel and Hospitality  ................................ ................................ ................................ .17 
2.10   Implementing Partners  ................................ ................................ .............................. 17 
2.11   Capital Expenditure  ................................ ................................ ................................ ...18 
2.12   Financial Expenditure  ................................ ................................ ................................ 18 
2.13   Part C - Operating Funds and ITC  ................................ ................................ ............... 18 
2.14   Transfers between Budgetary Sections  ................................ ................................ ........ 19 
2.15   2017 Appellate Body and its Secretariat's Budget Performance  ................................ .......20 
2.16   Proposed Transfers b etween Budgetary Sections  ................................ .......................... 22 
2.17   Expenditure by Key Activities and Projects  ................................ ................................ ...22 
2.18   Dispute Settlement  ................................ ................................ ................................ ...23 
2.19   Information Technology  ................................ ................................ ............................. 24 
2.20   Technical Assistance  ................................ ................................ ................................ .25 
2.21   Security  ................................ ................................ ................................ ................... 26 
2.22   Building Maintenance  ................................ ................................ ................................ 26 
2.23   Documents Reproduction  ................................ ................................ ........................... 27 
2.24   Human Resources Training Program  ................................ ................................ ............ 27 
2.25   Public Forum  ................................ ................................ ................................ ............ 28 
3   EXPENDITURE PER OUTP UT CHAPTER  ................................ ................................ ....... 28 
3.1   Background  ................................ ................................ ................................ ............... 28 
3.2   2017 Expenditure by Output Chapter Compared to the Output Budget  .............................. 28 
3.3   Facilitating Negotiations  ................................ ................................ .............................. 29 
3.4   Administering Agreed WTO Rules  ................................ ................................ .................. 29 
3.5   Monitoring Trade Policies  ................................ ................................ ............................. 29 
3.6   Settling Disputes  ................................ ................................ ................................ ........ 29 WT/BFA/W/450  
 
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  3.7   Capacity Building  ................................ ................................ ................................ ........ 29 
3.8   Assisting Accessions ................................ ................................ ................................ ....29 
3.9   Conducting Research  ................................ ................................ ................................ ..29 
3.10   Reaching Out  ................................ ................................ ................................ ........... 29 
4   PERFORMANCE OF TRUST FUNDS  ................................ ................................ ..............  30 
4.1   Doha Development Agenda Global Trust Fund  ................................ ................................ 30 
General WTO -related technical assistance and tr aining  ................................ ........................... 32 
Specialized and advanced technical assistance training  ................................ ........................... 32 
WTO Chairs Programme (WCP)  ................................ ................................ ............................ 32 
Trainee programmes and internships  ................................ ................................ .................... 32 
E-Learning  ................................ ................................ ................................ ........................ 32 
4.2   Evaluation of Activities of WTO Trust Funds  ................................ ................................ ...34 
4.3   The French Irish Internship Programme  ................................ ................................ ......... 34 
4.4   Netherlands Trainee Programme  ................................ ................................ .................. 35 
4.5   Trade Facilitation Agreement Facility (TTFAF)  ................................ ................................ .36 
4.6   Ministerial Conferenc e– Participation of LDCs  ................................ ................................ .36 
4.7   Standards and Trade Development Facility  ................................ ................................ ....37 
4.8   China LDCs and Accessions Programme  ................................ ................................ ......... 38 
4.9   China Development Cooperation Research Fund  ................................ ............................. 38 
4.10   Enhanced Integrated Framework Executive Secretariat  ................................ .................. 38 
4.11   Data Set on Trade in Service s by Sector and Mode of Supply  ................................ ......... 39 
4.12   Independent Entity – Pre-Shipment Inspection – Deposits  ................................ ............. 39 
4.13   Programme Support Fund  ................................ ................................ .......................... 40 
5   FINANCIAL STATEMENTS  ................................ ................................ ..........................  41 
5.1   Management letter of representation  ................................ ................................ ............ 41 
5.2   Opinion of the external auditor  ................................ ................................ ..................... 42 
5.3   WTO Financial Statements  ................................ ................................ ........................... 44 
5.4   Notes to the financial statements  ................................ ................................ ................. 47 
5.4.1    Note 1 Accounting policies  ................................ ................................ ........................ 47 
5.4.2    Note 2 Financial risk policy  ................................ ................................ ........................ 51 
5.4.3    Note 3 Restatement of the 2016 Statement of Financial Position  ................................ ....51 
5.4.4    Note 4 Cash and cash equivalents  ................................ ................................ .............. 52 
5.4.5    Note 5 Receivables from Members, Observers and Donors  ................................ ............ 52 
5.4.6    Note 6 Inventories  ................................ ................................ ................................ ...53 
5.4.7    Note 7 Other receivables  ................................ ................................ .......................... 54 
5.4.8    Note 8 Advances and Prepaym ents ................................ ................................ ............ 54 
5.4.9    Note 9 Property, Plant and Equipment  ................................ ................................ ........ 55 
5.4.10    Note 10 Intangible Assets  ................................ ................................ ....................... 56 
5.4.11    Note 11  Accounts payable  ................................ ................................ .................... 56 
5.4.12    Note 12  Assessed contributions paid in advance  ................................ ...................... 57 WT/BFA/W/450  
 
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  5.4.13    Note 13 Voluntary contribution s refundable to donors  ................................ ................. 57 
5.4.14    Note 14 Employee benefits  ................................ ................................ ...................... 58 
5.4.1 5   Note 15 Loan  ................................ ................................ ................................ ......... 61 
5.4.16    Note 16 Working Capital Fund  ................................ ................................ ................. 62 
5.4.17    Note 17 Reserves  ................................ ................................ ................................ ...62 
5.4.18    Note 18 Revenue  ................................ ................................ ................................ ...63 
5.4.19    Note 19 Expenses  ................................ ................................ ................................ ..64 
5.4.20    Note 20 Segment reporting  ................................ ................................ ..................... 65 
5.4.21    Note 21 Reconciliation with Budget  ................................ ................................ .......... 66 
5.4.22    Note 22 Key management personnel  ................................ ................................ ........ 67 
5.4.23    Note 23 Contingent assets and contingent liabilities  ................................ ................... 67 
5.4.24    Note 24 Events after the reporting date  ................................ ................................ ....67 
5.5   Schedules  ................................ ................................ ................................ .................. 68 
5.5.1    Schedule A 2017 Statement of Contributions from Members  ................................ ......... 68 
5.5.2    Schedule B Statement of  Outstanding Contributions as at 31  December  2017 – 
Members  ................................ ................................ ................................ ........................... 72 
5.5.3    Schedule C Statement of Outstanding Contributions as 31  December  2017 – 
Observers  ................................ ................................ ................................ ......................... 75 
5.5.4    Schedule D Voluntary contributions received in 2017  ................................ ................... 76 
5.5.5    Sched ule E Balance due to donors as 31  December  2017 ................................ .............. 77 
5.5.6    Schedule F World Trade Organization – Program Support Fund  ................................ ......79 
 
 WT/BFA/W/450  
 
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  1  INTRODUCTION  
1.1.  In accordance with the WTO Financial Regulations, the Director -General is submitting the 
Financial Performance Report of the WTO for the  year ended 31  December  2017. The report is 
presented in Swiss Francs (CHF).  
1.2.  This Financial Report comprises of the following key sections: Budget  Performance , 
Expenditure per Output Chapter, Performance of Trust Funds and 2017 Financial Statements . The 
Opinion of the External Auditor is based on the consolidated financial statements, which comprise 
of regular budget and Trust Funds.  
1.3.  The WTO is the only International Organization dealing with the global rules of trade between 
nations . The WTO's scope enc ompasses : 
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 Negotiation s: 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 i nfringed. Settling disputes is the 
responsibility of the Dispute Settlement Body.  
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 f rom 
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 -Governmen tal Organizations, 
parliamentarians, other International Organizations, the media and the general public on 
various aspects of the WTO , with the aim of enhancing cooperation and increasi ng 
awareness of WTO activities.  
1.1  Budget  
1.4.   The 2017 Budget (WT/GC/M/160) was approved by the General Council after 
recommendation by the Committee on Budget, Finance and Administration (WT/BFA/151). The 
total amount of the 2017 budget was CHF 197.2 million. Figure 1 depicts the annual budget 
amounts since 2000. The 2011 and 201 2 regular budget was 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 remained stagnant  for 
the past seven years.  WT/BFA/W/450  
 
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  Figure 1 Budget Evolution (MCHF)  
 
 
1.5.  The budget is financed from assessed contributions from Members and miscellaneous 
income:  
a. The share to be contributed by each Member is based on its 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 the previous year's obligations; rental of meeting rooms; contributions 
from Observers; and overhead fees collected for the management of Trust Funds.  
1.2  Outstanding contributions  
1.6.  From 2005 to 2016, the amount of outstanding Member contributions st eadily decreased, 
with the lowest level of arrears ever at the end of 2016. The amount of outstanding contributions 
at the end of 2017 was mainly due to a major contributor having only partially remitted its 2017 
contribution at the end of the year. In tot al, 116 Members had no outstanding contributions at the 
end of 2017, compared to 97 Members at the end of 2016.  
WT/BFA/W/450  
 
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  Figure 2 Outstanding Contributions (MCHF)  
 
1.3  Budget Breakdown  
1.7.  The WTO Budget is divided into three parts: Part  A covers the cost of Staffing Resources ; 
Part B covers Other C osts; and P art C the Operating Funds and the WTO's contribution to the 
budget of the I nternational Trade Centre (ITC).  
Figure 3 WTO 2017 Budget by part  
 
 
 
 
1.8.  The budget allocated to Staffing Costs  (Part A) represents approximately  75% of the total 
budget . This includes all expenditures linked to salaries of regular  staff, fixed term staff, temporary 
staff and C onsultants. Provisions for accrued benefits such as  home leave, education grant, family 
allowances, separation grant and untaken annual leave have been accounted for as IPSAS 
adjustment s. 
WT/BFA/W/450  
 
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  1.9.  The budget under Part B represents 14% of the total budget and mainly includes the 
expenditure for General Services; Tr avel & Hospitality; Capital and Financial Expenditure.  
1.10.   Part C, which represents 11% of the budget, includes the three Operating Funds and the 
WTO's contribution to the International Trade Centre's budget  
1.4  Capacity Building  
1.11.   The International Trade Centre ( ITC) is the joint technical 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 since 
1968 under t he joint aegis of GATT/WTO and the UN, the latter acting through the United Nations 
Conference for Trade and Development (UNCTAD). ITC is the focal point for technical assistance 
and 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 
9 August  1973.  
1.12.   In addition to its regular budget, the WTO obtains voluntary contributions for selected 
programmes that are managed through  Trust Funds. In 201 7, the WTO incurred CHF 20.8  million 
of expenditure financed through Trust F unds. These programmes are geared at supporting 
activities for technical cooperation and training meant to enable developing and least developed 
countries to  draw greater benefit from the Multilateral Trading S ystem.  
Figure 4 Key donors to Trust Funds since 2000  
 
 
 
1.13.   The DDAGTF  is the core  Trust Fund for technical assistance.  Activities financed through the 
DDAGTF are carried out in confor mity with the Biennial Technical Assistance and Training Plan (The 
Plan). The Plan foresees general and specialised trade -related seminars at the global and regional 
level, while also envisaging national activities as requested by Members. Other activities  such as 
e-learning ; academic support for training and capacity building; as well as trainee programmes are 
also financed.   
Sweden
14%
Norway
11%
Netherlands
10%
Germany
8%
United States
6%European Union
6%France
5%Denmark
5%Australia
5%Finland
4%Canada
4%Ireland
4%UK
3%Japan
3%Others
12%WT/BFA/W/450  
 
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  Figure 5 Number of Contribution to Trust Funds  
 
 
1.5  Budget and financial result  
1.14.   As at 31 December 2017, the WTO had budgetary savings of CHF 1.138 million. However, 
the final financial result obtained was a deficit of CHF 30.9 million.   
1.15.   The variance between the b udget ary result and financial d eficit derived from the negative 
impact of the actuarial cos t of pension and ASHI benefits.  
1.16.   The discount rate used to calculate the WTO Pension Plan's  (WTOPP) assets was revised 
downwards from 2.25% to 2 %. As a result, the WTOPP's revenue decreased by approximately 
CHF 7 Million, compared to the previous year .  
1.17.   Table 1 shows the evolution and the accumulation of the budgetary surplus and the financial 
deficit since the introduction of IPSAS in 2012. As at 31 December 2017, the WTO accumulated 
CHF 52 million of budgetary surpluses. After adjusting for IPSAS requirem ents, the result is a 
cumulative budgetary surplus of approximately CHF52 million and a cumulative financial deficit 
approaching CHF 101 million .  
6 627
2422 22 23 24
19 19 19
14 14 1513 13 12 130 00
038 713
1015
12
1513 12
1217
13 12
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
DDAGTF Contributions Other contributionsWT/BFA/W/450  
 
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  Table 1 Evolution of Budgetary Surplus and Financial Deficit since  Introduction of IPSAS 
(kCHF)  
Reconciliation Budget 
and Financial Results 
(in Thousands of  CHF)   2012  2013  2014  2015  2016  2017  Total  
 WTO yearly 
budget ary savings  11,328  10,090  14,476  4,557  1,056  503 42,010  
 WTO miscellaneous 
income  2,224  -181 304 1,547  -51  635 4,478  
 Other 
Income/Expenditures  1,311  4,140  -26 75  38  - 5,538  
 Overall Budgetary 
Surplus  14,863  14,049  14,754  6,179  1,043  1,138  52,026  
 IPSAS Adjustments  -   19,491  2,794  5,585  5,520  3,215  36,605  
 Acquisition of Property 
Plant and Equipment  5,430  2,048  1,922  1,046  304 1,113  11,864  
 Depreciation and 
amortization of Property 
Plant and Equipment  -1,097  -4,068  -4,919  -4,973  -5,047  -4,997  -25,101  
 Pension benefits 
actuarial valuation    -25,386  -24,687  -13,231  332 -16,885  -20,357  -100,214  
 ASHI benefits actuarial 
valuation   -13,707  -11,907  -11,497  -14,755  -13,177  -11,058  -76,101  
 Financial Result 
(IPSAS)   -19,897  -5,074  -10,177  -6,586  -28,242  -30,946  -100,922  
 
2  BUDGET PERFORMANCE1 
2.1  2017 WTO Income  
Table 2 WTO Income ( kCHF)  
  Budget  Receipts  Balance  
Contributions from WTO Members  195,500  195,500  0 
Miscellaneous Income  1,704  2,339  635 
Total  197,204  197,839  635 
 
2.1.  The total income of the WTO , excluding Trust F unds, amounted to CHF  197.8 million in 201 7. 
After taking  accounting of the budgeted amount of CHF  197.7 million, a  positive balance of 
CHF 635,000 resulted. This was mainly from miscellaneous income, as detailed below:  
Table 3 2017 Miscellaneous Income (kCHF)  
Item   Budget  Receipts  Balance  
Contributions from Observer Countries  600 588 -12 
Sale of Publications & royalties  270 284 14 
Trust Fund s – share of  direct costs  180 196 16 
Refund of prior year's expenditure  100 783 683 
Rental of meeting rooms & office space  120 128 8 
Profit/Loss on foreign exchange  0 -177 -177 
Interest earned  0 1 1 
Other  434 536 102 
Total  1,704  2,339  635 
 
2.2.  The positive  result under 'Refund of prior year's expenditure' mainly relates to a 
reimbursement from the ITC emanating from a budgetary surplus in the biennium 2014 -2015 
(CHF 0.4 million), as well as reimbursements from the insurance company for two invalidity cases.  
                                                
1 All balances are p resented in thousands of Swiss Francs. As  a result , small rounding differences may 
occur.  WT/BFA/W/450  
 
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  2.3.  The loss on foreign exchange is linked to the evolution of the USD during 2017. The positive 
result under 'Other' includes the rental income from  the Enhanced Integrated Framework 
(CHF 0.2 million ), the reimbursement of the insurance company for staff members on long -term 
sick leave (CHF 0.1 million) and savings on outstanding obligations  (CHF 0.2 million).  
2.2  Consolidated WTO Budget Performance  
Table 4 2017 Consolidated WTO Budget Performance  
(WTO Secretariat and Appellate Body Secret ariat) (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  90,480  87,215  3,264  
    ii) Staff Pension & Post -
Employment Benefits  22,110  20,619  1,491  
    iii) Staff Health & Invalidity 
Insurance  5,944  5,891  53 
    iv) Staff Family & 
International Benefits  11,071  12,204  -1,133  
    v) Other Staff Expenditure  1,810  2,022  -212 
  2. Temporary 
Assistance  i) Short -Term Staff  9,013  13,605  -4,592  
    ii) Consulting  6,770  5,239  1,531  
    iii) Panellists & Appellate 
Body Members ' Fees 1,506  1,499  7 
A Staffing Resources Total    148,705  148,295  409 
B Other 
Resources  3. General Services  i) Telecommunication & 
Post 831 572 260 
    ii) Contractual Services & 
Maintenance  10,681  10,154  527 
    iii) Energy & Supplies  2,251  1,554  697 
    iv) Documentation & 
Publication  1,479  1,349  130 
    v) Other / Miscellaneous  88 11 77 
  4. Travel & Hospitality  i) Travel  7,135  6,537  599 
    ii) Hospitality  216 159 56 
  5. Implementing 
Partners  i) Implementing Partners  213 604 -391 
  6. Capital Expenditure  i) Procurement of Fixed 
Assets  1,430  1,970  -540 
    ii) Rental & Leasing of 
Equipment  920 400 520 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 222 -142 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total    26,524  24,731  1,793  
C 
Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  i) Contribution to ITC  18,775  18,775  - 
    ii) Appellate Body 
Operating Fund  2,000  2,000  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation 
Fund 600 2,300  -1,700  
C Operating Funds and ITC 
Total    21,975  23,675  -1,700  
Grand Total     197,204  196,701  503 
 
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  Table 5 2017 Consolidated Expenditure (kCHF)  
 Budget  Actual  Balance  
WTO Secretariat  189,624  189,355  269 
Appellate Body and its Secretariat  7,580  7,347  233 
Grand Total  197,204  196,701  503 
 
2.3  2017 WTO Secretariat Budget Performance  
Table 6 2017 WTO Secretariat Budget Performance (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  87,154  84,393  2,761  
    ii) Staff Pension & Post -
Employment Benefits  21,380  20,020  1,360  
    iii) Staff Health & Invalidity 
Insurance  5,765  5,714  52 
    iv) Staff Family & 
International Benefits  10,776  11,735  -960 
    v) Other Staff Expenditure  1,767  1,937  -170 
  2. Temporary 
Assistance  i) Short -Term Staff  8,958  13,213  -4,255  
    ii) Consulting  6,745  5,239  1,506  
    iii) Pane llists & Appellate 
Body Members ' Fees 715 744 -29 
A Staffing Resources Total     143,260  142,996  265 
B Other 
Resources  3. General Services  i) Telecommunication & Post  822 572 250 
    ii) Contractual Services & 
Maintenance  10,663  10,136  527 
    iii) Energy & Supplies  2,231  1,551  680 
    iv) Documentation & 
Publication  1,469  1,349  120 
    v) Other / Miscellaneous  87 11 75 
  4. Travel & Hospitality  i) Travel  7,085  6,511  574 
    ii) Hospitality  215 159 56 
  5. Implementing 
Partners  i) Implementing Partners  213 604 -391 
  6. Capital Expenditure  i) Procurement of Fixed 
Assets  1,405  1,970  -565 
    ii) Rental & Leasing of 
Equipment  920 400 520 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 222 -142 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total     26,388  24,684  1,705  
C Operating 
Funds and 
ITC 8. Contributions to ITC 
& Special Reserves  i) Contribution to ITC  18,775  18,775  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation Fund  600 2,300  -1,700  
C Operating Funds and ITC Total    19,975  21,675  -1,700  
Grand Total     189,624  189,355  269 
 
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  2.4  Part A - Staffing Resources  
2.4.  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 . Exp enditure for short -term staff, Consultants and P anellists is also 
included under this Part.  
2.5  Staff Expenditure  
Figure 6 Comparison Budget/Expenditure for Regular S taff (kCHF)  
 
 
 
2.5.  Under Staff Remuneration, the saving realized is mainly due to vacant posts in the first half 
of 2017.  
2.6.  The items Staff Pension and Post -Employment Benefits and health insurance are closely 
linked to salaries. Therefore, consistent with salaries, savings were realized for these elements.  
2.7.  Under Other Staff Expenditure, the deficit is due to over -expenditure u nder Travel & Removal 
linked to separations and installations and US taxes. This is partly compensated by savings under 
Installation  and Separation Grant . 
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  2.6  Temporary Assistance Expenditure  
Figure 7 Comparison Budget/Expenditure for Temporary Assistance (kCHF)  
 
2.8.  The main over -expenditure under Temporary Assistance is due to the recruitment of 
additional short -term staff assigned to dispute settlement and other areas, 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.  
2.9.  Under Translation and Interpretation, the saving realized is split into a saving of 
approximately CHF  200,000 under translation, and a saving approachi ng CHF 150,000 under 
interpretation.  
2.10.   Under Consultants, the saving is due to lower expenditure under IT Consultants and 
Consultants working on technical training activities. This is partly offset by over -expenditure under 
Consultants working on dispute -settlement issues.  
2.11.   Under Panellist Fees, the overspending is due to an increase in dispute settlement panels.  
2.7  Part B - Other Resources  
2.12.   Part B comprises the budget and expenditure for general services, travel and hospitality, 
activities jointly funded  by the W TO and third parties as well as capital and financial expenditure.  
WT/BFA/W/450  
 
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  2.8  General Services  
Figure 8 Comparison Budget/Expenditure for General Services (kCHF)  
 
 
2.13.   The saving under Telecommunication and Post is mainly due to a saving under postal 
expenditure. This is the result of fewer documents being dispatched to Members and the continued 
reduction of paper use in the WTO.  
2.14.   Under Contractual Services and Maintenance, the sav ing is mainly realized under Building 
Maintenance and maintenance for office and IT equipment. This is partly offset by an over -
expenditure on the outsourced IT Service Desk and the International Computing Centre.  
2.15.   Under Energy and Supplies, the saving main ly consists of a saving under supplies in the 
area of IT supplies, documents reproduction supplies and office supplies and electricity.  
2.16.   Under Documentation and Publications the saving is due to a saving under publications and 
Media & Public Relations.  
2.17.   Under Other/Miscellaneous, the expenditure under Membership Fees and Advertising was 
lower than originally budgeted.  
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  2.9  Travel and Hospitality  
Figure 9 Comparison Budget/Expenditure for Travel and Hospitality (kCHF)  
 
2.18.   With respect to Trav el, the major part of the savings was achieved under technical 
assistance  related activities , the Director General's travel budget, the travel budgets for Panellists 
and Trade Policy Reviews.  
2.19.   Under Insurance, a slight overspending resulted from the negotia tion of a new contract with 
International SOS insurance, This is compensated for by a reduction in the WTO medical premiums 
(under Staff Health Insurance).  
2.20.   The saving under Hospitality  is due to a very strict management of the hospitality budget.  
2.10  Implementing Partners  
Figure 10 Comparison Budget/Expenditure for Implementing Partners (kCHF)  
 
 
 
WT/BFA/W/450  
 
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  2.21.   Implementing Partners  represent  events that are partiall y or fully funded by the WTO and  
execute d by a third party organization , contributions to professional networks , contributions to the 
Staff Assistance Fund  and contributions to  the International Labour Organization (ILO) 
Administrative Tribunal. The ove rspending is related to provisions for legal damages for pending 
and potenti al cases at the ILO  Administrative  Tribunal.  
2.11  Capital Expenditure  
Figure 11 Comparison Budget/Expenditure for Capital Expenditure (kCHF)  
 
 
 
2.22.   The overspending under Procurement of fixed assets is due to the partial funding of the 
renewal of the security equipment (CHF 0.8 million). The total cost of this project is split over the 
two years. The overspending was partially offset by a saving under Computing Hardware.  
2.23.   Under Rental and Leasing  of Equipment, a saving of CHF 0. 5 million  was realized.  
2.12  Financial Expenditure  
Figure 12 Comparison Budget/Expenditure for Financial Expenditure (kCHF)  
 
 
 
2.24.   The Financial Expenditure includes the reimbursement of the 50 -year interest -free loan for 
the new administrative bui lding 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 prescribed threshold amounts. The market conditions with respect to negative 
interest have become sterner.   
2.13  Part C - Operating Funds and ITC  
2.25.   Part C is related  to the contribution to the budget of International Trade Centre and 
allocation of funds to the Operating Funds of the WTO.  
WT/BFA/W/450  
 
- 19 - 
 
 
  Figure 13 Comparison Budget/Expenditure for Operating Funds and ITC (kCHF)  
 
 
2.26.   The CHF 18.8 million contribution to the International Trade Centre has been fully paid.  
2.27.   The Ministerial Conference Operating Fund was established in 1999, and is aimed at 
avoiding budgetary fluctuations with respect to the expenditure for Ministerial Conferences, which 
in general take place every two years. In December 2017, the 11th Ministerial Conference of the 
WTO was held in Buenos Aires, Argentina. The expenditure of CHF 1.2 mi llion, financed by the 
WTO, was charged to the Ministerial Conference Operating Fund, which was therefore fully 
expensed.  
2.28.   The Building Renovation Fund (BRF) 2 was established at the end of 2015 in order to reserve 
funds to finance medium and long -term build ing 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 2016. An additional CHF 1.7 million was allocated at the end of 2017, as an 
exercise of  prudence, given that the estimated amount to be collected over a 10 year  period 
approximates CHF 25 million . 
2.14  Transfers between Budgetary Sections  
2.29.   In accordance  with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections a re 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:  
                                                
2 WT/BFA/W/359 Building Renovation Fund.  
WT/BFA/W/450  
 
- 20 - 
 
 
  Table 7 Proposed Transfers between Sections of the 201 7 WTO Budget (kCHF)  
Part Section  Budget  Expenditure  Balance  Proposed 
Transfers  Revised 
Appropri
-ations  Balance  
A Staffing 
Resources  1. Staff Expenditure  126,842  123,800  3,042  -2,778  124,065  265 
  2. Temporary 
Assistance  16,418  19,196  -2,778  2,778  19,196  - 
A Staffing Resources Total  143,260  142,996  265 - 143,260  265 
B Other 
Resources  3. General Services  15,271  13,619  1,652  -1,652  13,619  - 
  4. Travel & 
Hospitality  7,300  6,670  630 -625 6,674  5 
  5. Implementing 
Partners  213 604 -391 391 604 - 
  6. Capital 
Expenditure  2,325  2,370  -45 45 2,370 - 
  7. Financial 
Expenditure  1,280  1,422  -142 142 1,422  - 
B Other Resources Total  26,388  24,684  1,705  -1,700  24,688  5 
C 
Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  19,975  21,675  -1,700  1,700  21,675  - 
C Operating Funds and ITC 
Total  19,975  21,675  -1,700  1,700  21,675  - 
Grand Total  189,624  189,355  269 - 189,624  269 
 
2.15  2017 Appellate Body and its Secretariat's Budget Performance  
2.30.   The budget for the Appellate Body and its Secretariat is distinct from the budget of the WTO 
Secretariat. Expenditures  incurred by the Appellate Body and its Secretariat are divided into 
permanent and variable costs linked to the number of disputes handled  by the Appellate Body. 
Permanent costs of the Appellate Body and its Secretariat are financed through an annual budget 
allocation in accordance with the WTO Financial Regulations and  Financial  Rules. The Appellate 
Body and its Secretariat's budget follow the same structure as that of the WTO Secretariat.  WT/BFA/W/450  
 
- 21 - 
 
 
  Table 8 2017 Appellate Body and its Secretariat Budget Performance (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  3,326  2,822  503 
    ii) Staff Pension & Post -
Employment Benefits  730 598 131 
    iii) Staff Health & Invalidity 
Insurance  179 177 2 
    iv) Staff Family & International 
Benefits  296 469 -173 
    v) Other Staff Expenditure  43 85 -41 
  2. Temporary 
Assistance  i) Short -Term Staff  55 393 -337 
    ii) Consulting  25 - 25 
    iii) Panel lists & Appellate Body 
Members ' Fees 791 755 36 
A Staffing Resources Total    5,444  5,300  145 
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 0 10 
    v) Other / Miscellaneous  2 0 2 
  4. Travel & 
Hospitality  i) Travel  50 26 24 
    ii) Hospitality  1 1 1 
  6. Capital 
Expenditure  i) Procurement of Fixed Assets  25 - 25 
B Other Resources Total     136 47 88 
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  - 
Grand Total     7,580  7,347  233 
 
2.31.   The expenditure incurred by the Appellate Body and its Secretariat amounted to 
CHF 7.3 million in 2017. It led to a budgetary saving of CHF 0.2  million.  
2.32.   The contribution to the Appellate Body Operating Fund (ABOF ) which covers the variable 
costs associated with appeals, mainly daily fees and travel costs of Appellate Body Members, 
amounted to CHF 2  million in 2017 and was directly allocated to the ABOF at the beginning of the 
year.  
2.33.    The detail of the expenditure  incurred by the ABOF in 201 7 is presented in the following 
table.  
Table 9 Appellate Body Operating Fund Expenditure (kCHF)  
Statement of Appellate Body Operating Fund Expenditure  kCHF  
Opening Balance as at 1  January  2017  1,707  
Contribution from the regular budget of the Appellate Body and its Secretariat  2,000  
Sub-Total  3,707  
Expenditure in 2017 :  
Appellate Body Members ' daily fees  -991 
Appellate Body Members ' travel expenditure  -619 
Oral hearings  -119 
Postage  -1 
Total expenditure  -1,730  
Closing balance as at 31  December  2017  1,977  WT/BFA/W/450  
 
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  2.16  Proposed 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 with savings  from other budgetary sections. Authority is sought to e ffect the 
following transfers:  
Table 10 Proposed Transfers between Sections of the 201 7 Appellate Body and its 
Secretariat Budget (kCHF)  
Part Section  Budget  Expenditure  Balance  Proposed 
Transfers  Revised 
Appropri -
ations  Balance  
A Staffing 
Resources  1. Staff Expenditure  4,573  4,152  421 -277 4,296  145 
  2. Temporary 
Assistance  871 1,148  -277 277 1,148  - 
A Staffing Resources Total  5,444  5,300  145 - 5,444  145 
B Other 
Resources  3. General Services  59 21 38 - 59 38 
  4. Travel & Hospitality  51 26 25 - 51 25 
  6. Capital Expenditure  25 - 25 - 25 25 
B Other Resources Total  136 47 88 - 136 88 
C Operating 
Funds and 
ITC 8. Contributions to ITC 
& Special Reserves  2,000  2,000  - - 2,000  - 
C Operating Funds and ITC Total  2,000  2,000  - - 2,000  - 
Grand Total  7,580  7,347  233 - 7,580  233 
 
2.17  Expenditure  by Key Activities and Projects  
Figure 14 Expenditure by Key Activities and Projects (kCHF)  
 
 
 
2.35.   The expenditure  by key activities  and projects is detailed in the following sections : 
WT/BFA/W/450  
 
- 23 - 
 
 
  2.18  Dispute Settlement  
 Table 11 Dispute Settlement Expenditure – Panels (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary Assistance  i) Short -Term Staff  71 967 -895 
    ii) Consulting  0 135 -135 
    iii) Panellists  715 744 -29 
A Staffing Resources Total    786 1,845  -1,059  
B Other 
Resources  3. General Services  i) Telecommunication & 
Post 10 6 4 
    ii) Contractual Services & 
Maintenance  - 2 -2 
    iii) Energy & Supplies  - - - 
    iv) Documentation & 
Publication  - 2 -2 
  4. Travel & Hospitality  i) Travel  730 595 135 
    ii) Hospitality  0 1 -1 
B Other Resources Total    740 605 135 
Grand Total     1,526  2,450  -924 
 
2.36.   During the year 2017, the WTO received 17 requests for consultations for new cases and a 
further four such requests relating to compliance proceedings. Thirteen panels were established by 
the Dispute Settlement Body during the course of the year. Thirty -two panel and arbitration 
proceedings were active on average each month, including panels in composition and panel reports 
in translation. This continues the trend of high dispute settlement activity witnessed in recent 
years. A total of 11 panel reports wer e circulated in 2017; nine of these concerned original 
disputes and two concerned disputes about compliance. One arbitration decision on the level of 
suspension of concessions under Article 22.6 was also circulated.  
2.37.   Under short -term staff, there was an ov er-expenditure of CHF 895,000. This includes the 
expenditure for short -term lawyers as well as other temporary staff hired to support the dispute 
settlement divisions. This figure is largely due to the continuing increase in the number and 
complexity of di sputes.  
2.38.   There was a CHF  29,000 over -expenditure on Panellist fees. Panellists' fees are very much 
dependent on whether the panellists are Government officials and/or the complexity/duration of 
the panel's work – a particularly complex panel completed its w ork in 2017. There is clear 
tendency of increased time worked by Panellists as reflected in the higher costs of panel work.  
2.39.   Savings of CHF 135,000 were achieved under Travel and Hospitality, mainly due to 
decreased travel expenditure for pan ellists.  WT/BFA/W/450  
 
- 24 - 
 
 
  Table 12 Dispute Settlement Expenditure – Appeals (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  55 393 -337 
    ii) Consulting  - - - 
    iii) Appellate Body Members ' 
Fees 791 755 36 
A Staffing Resources Total    846 1,148  -302 
B Other 
Resources  3. General Services  i) Telecommunication & Post  10 - 10 
    ii) Contractual Services & 
Maintenance  - 18 -18 
    iv) Documentation & 
Publication  - - - 
B Other Resources Total    10 18 -9 
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  - 
Grand Total     2,856  3,166  -310 
 
2.40.   Dispute settlement activity related to appeals was high in 2017, with eight appeal 
proceedings initiated and six Appellate Body reports circulated. In addition, work on one large 
appeal filed in 2016 continued throughout 2017. The Appellate Body Secretaria t also assisted 
Arbitrators in two arbitrations under Article  21.3(c) of the DSU on the determination of the 
reasonable period of time for implementation of decisions.  
2.41.   Appeals pending in 2017 included the extremely complex compliance proceedings in "EC 
and Certain Member States – Large Civil Aircraft (Airbus)" and in "US – Large Civil Aircraft 
(Boeing)" and other large appeals such as in Brazil – Taxation. Complex appeals absorbed more 
time of Appellate Body Members and required more staff members . Several appeal proceedings 
were on hold for some months until preceding appeals were completed and resources became 
available to staff them.  
2.42.   Under dispute settlement expenditure related to appeals, the over -expenditure is, as under 
the panel stage, linked to the expenditure for short -term lawyers and other short -term staff hired  
to work on ap peals.  
2.19  Information Technology  
Table 13 Information Technology Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  40 172 -132 
    ii) Consulting  1,763  1,351  412 
A Staffing Resources Total    1,803  1,523  280 
B Other 
Resources  3. General Services  i) Telecommunication & 
Post 324 287 37 
    ii) Contractual Services & 
Maintenance  4,195  4,468  -273 
    iii) Energy & Supplies  270 92 178 
  4. Travel & 
Hospitality  i) Travel  15 7 8 
    ii) Hospitality  1 - 1 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  1,180  961 219 
    ii) Rental & Leasing of 
Equipment  132 32 100 
B Other Resources Total    6,117  5,848  269 
Grand Total     7,920  7,371  549 WT/BFA/W/450  
 
- 25 - 
 
 
  2.43.   In the area of IT, the under -spending in 2017 is mainly due to the fact that due to the 
Ministerial Conference in December 2017, the IT Solutions D ivision did not have the human 
capacity to deliver the projects it had been planning for the third quarter of 2017. This was mainly 
related to two projects, the DOMOS project (Replacement of the application used to manage 
translation and publication of off icial documents) and the software for Webcasting.  
2.44.   Around two thirds of the IT expenditure (CHF 6 million) related to the running of the day -to-
day business. The two largest items include the United Nations International Computing Centre 
(UNICC) with CHF 1. 8 million and the IT Service Desk with CHF 1.1 million. Other major items in 
the contractual services included several maintenance contracts with software publishers, with 
consultancy companies for custom -built applications and with hardware manufacturers.  The 
telecommunications costs remained stable.  
2.45.   A third of the budget (CHF 2.3 million budget and CHF 1.9 million expenditure) was 
allocated to projects. In 2017, the IT Solutions Division manag ed to close an unprecedented 
19 projects demonstrating real pro gress in project management and the ability to deliver. E -
registration was a notable success and proved to be a very efficient tool to register delegates, 
IGOs, NGOs and media to the 11th Ministerial Conference. It also supported the launch of e -
subscripti on, a platform allowing delegates to register to receive personalized emails from 
Documents Online .  
2.20  Technical Assistance  
Table 14 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 60 -53 
    ii) Consulting  313 115 198 
A Staffing Resources Total    319 174 145 
B Other 
Resources  3. General Services  i) Telecommunication & 
Post 67 - 67 
    iii) Energy & Supplies  20 1 19 
    iv) Documentation & 
Publication  31 3 27 
  4. Travel & 
Hospitality  i) Travel  4,061  3,904  158 
    ii) Hospitality  50 15 34 
B Other Resources Total    4,229  3,924  305 
Grand Total     4,548  4,098  450 
 
2.46.   The major part of the savings was realized due to  prudent management of the Consultants' 
budget, and due to savings realized for the travel budget . WT/BFA/W/450  
 
- 26 - 
 
 
  2.21  Security  
Table 15 Security Expenditure (kCHF)  
Part Section  Line Account  Budget  Exp. Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  Consulting Firms & 
Employment Agencies  - 29 -29 
A Staffing Resources Total     - 29 -29 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Building Maintenance  225 121 104 
      Contractual Services  3,513  3,346  167 
      Equipment 
Maintenance  250 99 151 
    iii) Energy & 
Supplies  Supplies  25 29 -4 
  4. Travel & 
Hospitality  i) Travel  Insurance / 
Participants  130 107 23 
  6. Capital 
Expenditure  i) Procurement  of 
Fixed Assets  Security Equipment  155 941 -786 
B Other Resources Total     4,298  4,643  -345 
Grand Total       4,298  4,672  -374 
 
2.47.   In the last quarter of 2017, the project to replace the existing security system  started.  The 
existing security system's technology dated from 2009 and was reaching the end of its useful life. 
The analogue system will be replaced with a WTO -controlled infrastructure based on Internet 
Protocol (IP).  
2.48.   The expenditure for 2017 includes the global study of the security project, t he replacement 
of the video surveillance, the access control, the interphone equipment, radio control and cabling 
amounting to a total of CHF 0.8 million. About the same amount needs to be funded in 2018.  
2.49.   This expenditure was partially offset by a saving u nder the outsourced security provider and 
equipment maintenance . 
2.22  Building Maintenance  
Table 16 Building Maintenance Expenditure (kCHF)  
Part Section  Line Account  Budget  Expenditure  Balance  
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Building 
Maintenance  1,208  1,022  186 
      Contractual 
Services  948 874 74 
      Equipment 
Maintenance  7 11 -4 
      Insurance  175 103 72 
    iii) Energy & 
Supplies  Electricity  595 343 252 
      Gas & Fuel  450 408 42 
      Supplies  60 55 5 
      Water  54 65 -11 
B Other Resources Total     3,497  2,881  616 
 
2.50.   Under the activity Building Maintenance, a saving was mainly realized from the general 
maintenance of the building and from consumption of electricity.   WT/BFA/W/450  
 
- 27 - 
 
 
  2.23  Documents  Reproduction  
Table 17 Documents Reproduction and Distribution Expenditure (kCHF)  
Part Section  Line Account  Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term 
Staff   200 470 -270 
    ii) Consulting  Consulting Firms & 
Employment 
Agencies  0 3 -3 
A Staffing Resources Total     200 472 -272 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Equipment 
Maintenance  60 24 36 
    iii) Energy & 
Supplies  Supplies  509 375 134 
  6. Capital 
Expenditure  ii) Rental & 
Leasing of 
Equipment  Rental and Leasing 
of Equipment  740 354 386 
B Other Resources Total     1,309  754 555 
Grand Total       1,509  1,226  283 
 
2.51.   In the area of leasing of equipment, the production equipment for the printing equipment in 
black and white was reduced from 6 to 3 machines.   
2.24  Human Resources Training Program  
Table 18 Human Resources Training Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  1,075  970 105 
A Staffing Resources Total  1,075  970 105 
B Other 
Resources  4. Travel & Hospitality  i) Travel  220 157 63 
    ii) Hospitality  76 64 13 
B Other Resources Total  296 220 76 
Grand Total    1,371  1,190  181 
 
2.52.   The Learning Service team undertook a variety of new initiatives in 2017. Of particular note 
was the production of an induction video on the WTO. This video is targeted at newcomers to help 
them integrate more easily into the Secretariat's work, values and  processes. The video is also 
currently being used at career fairs to promote the work of the WTO. The four -part video 
addresses (i) working for an international organization/serving Members (ii) the history of the 
Multilateral Trading System (iii) the WTO  Secretariat and (iv) career development and support for 
Secretariat staff  members . 
2.53.   Also noteworthy was a comprehensive, modular performance management program 
implemented for approximately 100 managers in support of the findings of the Working Group on 
Performance Management. Particular emphasis was placed on equipping managers with the skills 
to provide constructive feedback and coach staff to enhance the latter's job performance.  
2.54.   Other new initiatives included workshops on Mastering Trade Policy and Pr otocol Skills as 
well as the establishment of a network of research economists from WTO/UNCTAD/ILO/ITC/UNECE 
and WEF. The aim of this multi -organization network was to share best practice and identify areas 
for future collaboration. The Learning Service, i n conjunction with the IT Solutions Division, also 
implemented a revamped suite of Microsoft Office workshops. 30 IT courses were conducted for a 
total of 355 Secretariat staff  members .  
2.55.   2017 also saw a record number of  requests for language skills trainin g.  
2.56.   The above -mentioned initiatives were undertaken in addition to the ongoing programmes 
delivered the Learning Service. These included executive and team coaching assignments;  WT/BFA/W/450  
 
- 28 - 
 
 
  Divisional retreats, interviewing skills for selection panels, bespoke divisio nal training for trainers' 
programs and the processing of requests for internal and external training programs.  
2.57.   The expenditure rate under the Human  Resources Training Program in 2017 was 87% with 
a saving of CHF 180,000 . The saving was mainly  realized un der consulting agencies/providers.  
2.25  Public Forum  
Table 19 Public Forum Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  100 120 -20 
A Staffing Resources Total    100 120 -20 
B Other 
Resources  3. General 
Services  ii) Contractual Services & 
Maintenance  30 12 18 
    iii) Supplies  30 54 -24 
    iv) Documentation & 
Publication  60 66 -6 
    v) Other / Miscellaneous  - - - 
  4. Travel & 
Hospitality  i) Travel  110 38 72 
    ii) Hospitality  20 14 6 
B Other Resources Total    250 184 66 
Grand Total      350 304 46 
 
2.58.   The Public Forum is the WTO’s largest annual outreach event, which provides a platform for 
participants to discuss the latest developments in world trade and to  propose ways of enhancing 
the Multilateral Trading S ystem. The event attracts more than  1,500 representatives from the civil 
society, academia, business, the media, G overnment, parliamentarians and inter -governmental 
organizations. Th e topic of the Public Forum 2017 was "Trade: Behind the Headlines".  
3  EXPENDITURE PER OUTP UT 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 F inancial Performance R eport.  
3.2.  The actual expenditure for 2017 is closely aligned to the budgeted  amounts, as reflected in 
the table below:  
3.2  2017 Expenditure  by Out put Chapter Compared to the Output Budget  
Table 20 2017 Expenditure by Output Chapter  
Output Chapter  Budget 2017  % of T otal Expenditure 2017  % of T otal Difference 
Budget - 
Expenditure  
1  Facilitating Negotiations  10,600  5% 9,623  5% 977 
2  Administering Agreed WTO Rules  45,000  23% 45,302  23% -302 
3  Monitoring Trade Policies  26,000  13% 25,780  13% 220 
4  Settling Disputes  35,000  18% 39,666  20% -4,666  
5  Capacity B uilding  42,000  21% 41,683  21% 317 
6  Assisting Accessions  7,000  4% 5,997  3% 1,003  
7  Conducting Research  17,000  9% 13,486  7% 3,514  
8  Reaching O ut 14,604  7% 15,165  8% -561 
Grand Total  197,204  100%  196,701  100%  503 
 WT/BFA/W/450  
 
- 29 - 
 
 
  3.3  Facilitating Negotiations  
3.3.  This Output Chapter includes various committees and negotiating groups related to the Doha 
Development Agenda (DDA) negotiations such as the Trade Negotiations Committee and other 
negotiating groups.  
3.4.  At the end of 2017, the expenditure was  close to the level projected . 
3.4  Administering Agreed WTO Rules  
3.5.  This Output C hapter includ es the Ministerial Conference, all Committees related to the 
General  Council and its Subsidiary B odies, Committees related to the Coun cil for Trade in Goods 
and its Subsidiary B odies, Committees related to the Council for Trade in Services and its Bodies, 
and the Council for Trade -related Aspects of Intellectual Property. The realized expenditure in 
2017 was in line with the projection.  
3.5  Monitoring Trade Policies  
3.6.  This Output Chapter mainly comprises of all expenditure related to the WTO Trade Policy 
Review B ody, Trade Policy Reviews and Trade Policy Monitoring. The expenditure for 2017 was in 
line with the projection . This was due to the higher activity on one side and translation cost for 
Trade Policy Reviews for two Members which recently acceded, as the ma in factor of the increase.  
3.6  Settling Disputes  
3.7.  This Output Chapter includes the D ispute Settlement Body , as well as pre -dispute activities, 
panels, appeals and arbitrations. The actual expenditure for 2017 is 13% higher than the 
projection. This represent s the highest increase over all Output C hapters compared to the 
projection. This is mainly due to the increased activity in the dispute settlement area, and due to 
the high number of dispute settlement related reports that were translated in 2017.  
3.7  Capacity Building  
3.8.  This Output Chapter comprises all activity related to capacit y building courses and training ; 
the Aid for Trade work programme; and the contribution to the International Trade Centre (ITC). 
The actual expenditure for 2017 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 2017 was slightly  lower than projected. This is mainly  due to a lower activity level 
on accessions.  
3.9  Conducting Res earch  
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; as well as the management of WTO 
publications. The realised expenditure for 2017 is lower than projected. This  is not due to the fact 
that the activity was on a lower level, but due to the fact that fewer documents were translated 
from English into the two other official languages.  
3.10  Reaching Out  
3.11.   This Output 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 2017 is in line with the projection.  WT/BFA/W/450  
 
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  4  PERFORM ANCE OF TRUST FUNDS  
4.1.  This part describes the activities performed in 201 7 using extra -budgetary funds , which are 
managed through Trust Funds . The flagship of the WTO's Trust Funds is the  DDAGTF . While there 
are several other Trust Funds  that address specifi c purposes, it is the policy of the WTO to 
encourage the consolid ation of most T rade-related Technical Assistance under  the DDAGTF . 
4.1  Doha Development Agenda Global Trust Fund  
Figure 15 Allocation of DDAGTF Resources 201 7 
 
 
 
Table 21 Doha Development Agenda Global Trust Fun d - Financial Report Summary  
Financial Report Summary ( in thousand  CHF)  2017  2016  
Funds as at 1  January  15,986  16,934  
Transfer from TEVA3L 108 - 
Contributions received  6,169  6,880  
Interest earned  -25 -14 
Total funds  22,238  23,800  
Contribution reimbursement to Netherlands  -299 - 
Contracted commitments  -61 -41 
Total expenditures  -8,380  -7,773  
Balance as at 31  December  13,498  15,986  
 
4.2.  The DDAGTF  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 F und was to consolidate  the 
numerous extra -budgetary funds in a s ingle un -earmarked Trust F und, so as to provide a stable 
financial basis for the delive ry of the Technical Assistance P lan adopted by Members. The activities 
supported by the DDAGTF are intended to: enhance institu tional and human capacity in beneficiary 
countries; address trade policy issues and concerns; facilitate fuller participatio n of beneficiaries in 
the Multi lateral Trading System; and encourage effective participation in the negotiations.  
4.3.  The WTO's technica l assistance and training programmes are primarily geared towards 
Government officials from WTO Members and acceding countries that are directly responsible for 
WTO-related issues, including the implementation  of the Agreements of the Multi lateral Trading 
System and the Doha Development Agenda negotiations. A secondary broader audience, including 
                                                
3 The indicated amount was transferred on the closure of the Trust Fund for the Evaluation of WTO Trust 
Funds Activities (TEVAL) .  
General WTO -Related 
T.A.
35%
Specialized and 
Advanced T.A.
25%Academic Support
7%Trainee Programmes 
and Internships
5%Staff Costs and Other 
Programmes
28%WT/BFA/W/450  
 
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  academics, civil society, parliamentarians and private sector representatives is targeted through 
the academic and outreach programmes.  
4.4.  Trade -related Technical A ssistance and training activities are carried out in accordance with a 
Biennial Technical Assistance and Training Plan ("the TA Plan"), which derives funding from both 
the regular budget and the DDAGTF.  
4.5.  The TA Plan identifies the objectives and types of acti vities to be delivered by the Secretariat 
for the period concerned. The TA Plan normally foresees a number of activities at the global and 
regional levels, to be delivered within a given year. The TA Plan also anticipates additional 
activities at the natio nal level on the basis of specific requests by Members.  
4.6.  The TA Plans are structured  around a progressive learning strategy designed in such a way as 
to: 
a. ensure that the beneficiaries are gradually moving to higher levels of learning;  
 
b. contribute to sustain able human and institutional capacity -building;  
 
c. strengthen inter -linkages among programmes;  
 
d. build synergies across subject areas; and  
 
e. assure coherence and cost -effectiveness in the delivery of TRTA.  
4.7.  Increasingly, important elements of results based management (RBM) are being incorporated 
into the WTO's TA Plans as ap proved for the biennium 2016-2017.  
4.8.  The WTO undertakes activities in which it has a comparative advantage and that fall within its 
mandate  i.e. WTO Agreements and those areas that are dire ctly part of the DDA negotiations. The 
WTO co -operates 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.  
4.9.  The Trade -related Technical Activity  products  can be grouped broadly into five categories:  
a. E-learning/Self Training Courses  – Takes full advantage of information technology and 
the Internet as a complement to traditional training programmes. This approach is  
focused particularly on introductory 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 g eneral knowledge of 
the Multilateral Trading S ystem. 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 increase their skills.  
c. Specialized and advanced technical assistance 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. Academ ic support for training and capacity 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 doctora l students, programme for visiting academics, research 
collaboration and document dissemination for universities).  
e. Trainee programmes and internships  – They provide an opportunity for junior officials to 
get first hand exposure to the functioning of the Mu ltilateral Trading S ystem and/or to 
provide support to the respective beneficiaries' regional secretariats.  WT/BFA/W/450  
 
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  4.10.   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 DDAGTF.  
4.11.   TRTA programmes implemented under the DDAGTF in 2017 were based on the Biennial 
Technical Assistance and Training Plan 2016 -2017.  
4.12.   Main activities implemented in 2017, many of which were undertaken in partnership with 
other agencies and  bodies, include:  
General WTO -related technical assistance and training  
a. Six two month Regional Trade Policy Courses (RTPC). They covered French –speaking 
Africa, Central and Eastern Europe, Middle East, Asia/Pacific, the Caribbean and Latin 
Amer ica. 
b. Twelve Geneva  based topic -specific symposia.  
c. Five regional and sub -regional training and short trade policy courses.  
Specialized and advanced technical assistance training  
a. Fifteen topic -specific regional seminars (on Agriculture, Government Procuremen t, 
Market Access, Regional Trade Agreements, Rules, Standards (SPS and TBT), Services, 
Trade and Env ironment, Development and Trade -related Aspects of Intellectual 
Property).  
b. Four intensive courses on trade negotiation skills (for English and for French sp eaking 
African Countries, Asian and Pacific Economies, and the Middle East) . 
c. Six outreach activities for parliamentarians and the civil society.  
d. The establishment or upgrading of Refe rence Centres in Cambodia, Côte d'Ivoire, 
Morocco and Sudan.  
WTO Chairs Programme ( WCP ) 
a. One WTO Chairs Board Annual Meeting was held in Geneva, Switzerland and another one 
during the WCP Annual Conference in Buenos Aires, Argentina.  
b. WTO Grants were made to six WTO Chairs (Benin, Brazil, Oman, South Africa, Tunisia 
and Turkey).  
c. The support programme covered four doctoral students, compared to three in 2016.  
d. Eleven Support missions were undertaken to host institutions.  
Trainee programmes and internships  
a. There were five Regional  Coordinator Internships:  Two coordinators for PIFS a nd one 
coordinator each  the ACP Group, LDC Group and Arab Group.  
E-Learning  
4.13.   There was a 11% increase in E -Learning participants in 2017.  The number of participants 
rose from 10,279 in 2016 to 11,491 in 2017 . 
4.14.   In 2017, synergies developed in 2014 between E-Learning and the Netherlands Trainee 
Programme (NTP) were strengthened to the benefit of both programmes.  Five Interns worked as WT/BFA/W/450  
 
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  assistant tutors in the E -Learning Unit focussing on interacting with the participants and 
developing online discussions for  the News Forum.  
4.15.   The catalogue of courses continues to be enriched with new training material to not only 
cover all main WTO subjects but to also offer updated courses .  Courses with the new E -Learning 
methodology facilitate active learning and allow for m ore interactivity of the participants  with the 
learning material  as well as  with other students and their trainers.   
4.16.   The WTO E -Learning programme offered 78 online courses in English, French and Spanish. 
Also many interactive activities were organized and  offered to update participants on WTO 
concepts and trade -related issues. The number of Chat Sessions was 85 in 2017.  The number of 
online discussions launched in the News Forum was very high (110). These were carried out in the 
three official languages. In addition to E -Lectu res, the E -Learning Unit is continued to develop  the 
use of social media for updates on trade -related issues, interactivity and outreach.  
4.17.   The E -Learning Unit continued to facilitate the implementation of blended learning.  Tailored 
virtual classrooms were offered and hosted in the E -Campus website for face -to-face activities to 
assist in the smooth delivery of these activities.   
4.18.   Virtual classrooms were created in the E -Campus website with the following functionalities: 
i) access and d ownload pedagogical materials for each module as well as documents and 
information on the WTO in general, and ii) complete weekly and final evaluation forms.  
4.19.   The E -Learning programme is active on  Twitter, Facebook, LinkedIn and YouTube to reach a 
wider aud ience and promote the courses. The training material is als o made available for self -
study, upon request . The number of requests remained stable in 2017 and amounted to 5 ,337 
(English: 3,587; Spanish: 1,147; French: 603). 305 requests were made through the  dedicated 
mobile App ( 269 in English and 36 in Spanish).  
4.20.   Excellent results in 2017 were achieved in the WTO E -Learning field and statistics hence 
confirm the trend toward quality training identified in E -Learning over the past years:  
a. The number of success ful participants increased by 694, compared to 2016.  
b. About  66% of participants successfully co mpleted  a course in line with the  67% obtained 
in 2016.   
c. The share of successful participants that obtained a certificate with distinction was 41%, 
and their number rose by 802 participants compared to 2016.   
d. The average score in the course exams for successful participants was slightly higher 
than in 2016, at 88%. The drop -out rate increased to 30% compared to 15% in 2016.  
e. 54.5% out of the 11 ,491 participants were men (6,263); 45.5% were women (5,228).  
4.21.   A new course was finalized in December 2017 "The Agriculture Xpress", based  on the 
learning by doing approach . The development of a new course on "Trade Facilitation" continued 
throughout 2017.   
4.22.   The translations of four courses were made available in French and Spanish: Legal 
Underpinning (new interactive version); Copyright in the WTO; The WTO Dispute Settlement 
System; and Patents in the WTO.  
4.23.   The courses "Regional Trade Agreements", "Technica l Barriers to Trade", " Multilateral Trade 
Agreements" and "Introduction to the WTO" were updated and made available online in English, 
French and Spanish.  
4.24.   The course "Market Access Intelligence Online" was upgraded to a new version of the E -
Learning soft ware and made available for participants in English, French and Spanish.  WT/BFA/W/450  
 
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  Table 22 Number of P articipants of E-Learning C ourse s Per Year  
Year Number of participants  
2011 2,890  
2012 3,023  
2013 5,645  
2014 7,590  
2015 7,523  
2016 10,279  
2017 11,491  
 
4.25.   Africa remains the region with the highest number of e -learners, with those from 
French -speaking Africa representing 19% of all participants. Participation from Latin -America 
represented 23%. Almost one third of all participants are from LDCs.  
4.2  Evaluation of Activities of WTO Trust Funds  
4.26.   The Institute for Training and Technical Cooperation (ITTC) coordinated with donors and 
beneficiaries on an external evaluation of the WTO's TA activities. A specific Trust Fund was 
created, in 2015, for this purpose: the TEVAL. It covered the expenses for external evaluation of 
all WTO Trade -related Technical Assistance activities. TEVAL was closed in 2017 and the remaining 
balance was a llocated to the DDAGTF for an amount of CHF 108,000 and to the LDC Ministerial 
Fund for an amount of CHF 48,000. An amount of CHF 55,000 and CHF 48,000, respectively, were 
paid back to the European Commission and to Sweden.  
4.3  The French Irish Internship Pro gramme  
4.27.   The French Irish Internship Programme aims to: enhance the 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 Missio ns 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 place 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 an d/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 f amiliarity with standard software packages.  
4.30.   Interns are selected by the ITTC and the Human Resources Division of the WTO, together 
with the Mission concerned. Special consideration is given to those candidates who will be using 
their experience upon return ing to their country. LDCs with very few staff  members  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 Representative of 
the 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;  
 WT/BFA/W/450  
 
- 35 - 
 
 
  c. assistance in the preparation of reports, documents and communications of economic 
and/or legal nature related to the WTO;  
 
d. assistance in other tasks undertaken b y the Mission.  
 
4.33.   The evaluation of the Intern's work by the Mission takes place at mid -term and at the end of 
the assignment and is shared with the WTO.  
4.34.   In 2017, this Trust Fund financed the costs related to 14 Interns from the following 
countries: Burundi,  Cameroon, Eswatini , Haiti, Kenya, Kyrgyzstan, Madagascar, Myanmar, Nepal, 
Senegal, Sudan, Tajikistan, Vanuatu, and Zambia.  
Table 23 The French Irish Internship Programm e - Financial Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  950 1,129  
Contributions received  847 814 
Interest earned / (paid)  -1 -1 
Total funds  1,796  1,942  
Total expenditures  -783 -992 
Balance as at 31  December  1,013  950 
 
4.4  Netherlands Trainee Programme  
4.35.   The Netherlands Trainee Programme was launched on 1  April 2005 with an initial completion 
date of  31 December  2008. In November  2008, the Government of the Netherlands extended this 
Programme for four more years, i.e. until the end of 2012. In 2013 the WTO  was given authority 
to continue to expend the remaining balance from the prior arrangement and a new multiyear 
arrangement was signed to continue the programme from 2014 to 2017.  
4.36.   The objective of the Programme is to generate tangible, measurable and lasti ng capacity 
building in areas related to trade policy in LDCs, low income countries and comparable poor and 
vulnerable economies , with particular attention given to African countries , to assist in their 
economic and social development.  
4.37.   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 organizations, unive rsity graduates, 
participants in trade policy courses and other suitable candidates with adequate knowledge of the 
WTO.  
4.38.   Trainees spend a total period of up to ten months with the WTO and are expected to 
complete well  defined tasks in that period 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. contributing to the attainment of the Doha Round  objectives , e.g. tabling an initial or 
improved offer in services;  
 
c. fulfilling outstanding notification obligations and assisting in the implem entation of 
commitments for  recently acceded Members;  
 
d. assisting acceding countries in this process;  
 
e. assisting in the preparation for  trade policy reviews;  
 
f. undertaking other tasks, which would contribute to a better and fuller participation of the 
beneficia ry country in the Multil ateral Trading System ; WT/BFA/W/450  
 
- 36 - 
 
 
  g. assisting WTO Divisions with specific tasks.  
4.39.   The candidates are selected by the Secretariat, from applications and nominations proposed 
by the beneficiary countries.  
4.40.   Trainees work full -time at the WTO Secretariat and carry out tasks and duties assigned to 
them but with no expectation of renewal or extension of the traineeship beyond ten months. 
Following the completion of their assignments, trainees are required to provide an evaluation 
report with detailed information of the tasks ac complished and an assessment of their relevance 
for the candidate and the beneficiary country.  
4.41.   The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 176 at the end of 2017.  
4.42.   In 2017, this Trust F und financ ed the costs related to one regional seminar at the 
Clingendael Institute about Policy Trends and Trends in International Trade. It also  financed 16 
Interns from the following countries: Algeria, Burkina Faso, Chad, Comoros, Gabon, The Gambia, 
Ghana, Lesot ho, Liberia, Malawi, Mali, Mozambique, St Kitts and Nevis, Suriname, Uganda, and 
Yemen.  
Table 24 Netherlands Trainee Programme – Financial Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  184 1,137  
Contributions received  875 - 
Interest earned / (paid)  -1 - 
Total funds  1,058  1,137  
Total expenditures  -951 -953 
Balance as at 31  December  107 184 
 
4.5  Trade Facilitation Agreement Facility  (TTFAF)  
4.43.   The purpose of the TTFAF  is to help developing countries and LDCs to implement the Trade 
Facilitation Agreement.  
4.44.   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, and make support 
available in instances where pote ntial recipients have earlier failed to secure assistance from other 
donors.  
Table 25 Trade Facilitation Agreement Facility – Financial Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  5,962  4,121  
Contributions received  1,217  2,303  
Interest earned  -11 -5 
Total funds  7,168  6,419  
Total expenditures  -586 -457 
Balance as at 31  December  6,582  5,962  
 
4.6  Ministerial Conference – Participation of LDCs  
4.45.   Since the first WTO Ministerial Conference held in Singapore in 1996, the WTO has 
facilitated the participation of LDCs in the Ministerial Conferences, funded from voluntary 
contributions pooled into a special extra -budgetary fund. Costs related to air tra vel, 
accommodation and per diem of LDC delegations , comprised of one Minister and two high level 
Officials , are covered.  WT/BFA/W/450  
 
- 37 - 
 
 
  Table 26 Ministerial Conference  Trust Funds for the Participation of LDCs  – Financial 
Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  90 - 
Reimbursement from MC10  - 90 
Contributions received  780 - 
Contributions from TEVAL  48 - 
Interest earned  - - 
Total funds  918 90 
Total expenditures  -561 - 
Balance as at 31 December  357 90 
4.46.   At the end of a given Ministerial Conference, the remaining balances in favour of the various 
donors are carried forward and added to the new contributions to be utilized for the same purpose 
in the subsequent Ministerial Conference , unless the donor requests a reimbursement.  
4.7  Standards and Trade Development Facility  
4.47.   The Standards and Trade Development Facility (STDF) is a global partnership and Trust 
Fund, established by the Food and Agriculture Organization (FAO), the World Organizat ion for 
Animal Health (OIE), the World Bank, the World Health Organization (WHO) and the WTO, that 
supports developing countries in building their capacity to implement international Sanitary and 
Phytosanitary Standards (SPS)  guidelines and recommendations  as a mean s to improve their 
human, animal and plant health status and ability to gain and maintain access to markets. Other 
organizations involved in SPS -related technical cooperation, donors contributing to the STDF and 
developing country experts partici pate actively in its work.4 The STDF is managed by the WTO.  
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 poi nt for the exchange of information. The Secretariat also participated in a number of 
conferences, training workshops and other information sessions to promote coherence and 
synergies in the design of SPS projects.  
4.49.   Throughout the year, a wide variety of pro posals and ideas for projects were received and 
discussed with potential beneficiaries, ranging from one -page concept notes to fully -fledged 
project documents. 29 applications for project preparation grants (PPGs) and 25 project 
applications were received.  The STDF Working Group approved seven PPGs and nine projects for 
funding. The total STDF contribution to these projects amounted to USD 4.2 million, with around 
50% going to LDCs and other low -income countries (OLICs). All projects were collaborative, 
innovative and/or regional in nature. More and recurrent PPG applications could be expected if 
bilateral donors would be able to increasingly co -fund resultant projects.  
4.50.   Three projects were completed and achieved good immediate results. Since 2004, STDF has 
funded over CHF40 million to build the SPS capacity of producers, traders and Governments in 
developing countries. STDF funding has mobilized CHF 25 million in additional resources. Overall, 
the STDF has devoted 61% of project resources to LDCs and OLICs, e xceeding its target to 
dedicate at least 40% of its project resources to LDCs and OLICs. Monitoring project 
implementation, however, remained challenging and resource -intensive.  
                                                
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/450  
 
- 38 - 
 
 
  Table 27 Standards and Trade Development Facility – Financial Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  7,534  8,632  
Contributions received  4,679  4,045  
Interest  -16 -9 
Total funds  12,197  12,668  
Expenditures  -4,528  -5,134  
Balance as at 31  December  7,669  7,534  
 
4.8  China LDCs and Accessions Programme  
4.51.   In July  2011, China funded the establishment of "China's  LDCs and Accessions Programme"  
to help strengthen LDC Members' participation in the WTO activities and also to help acceding 
LDCs to improve their capacity for acc ession.  
4.52.   The Government of China Trust contribut ed approximat ely CHF 473,000  to this Trust Fund  
in 2017.  
4.53.   In accordance with Annex III of the related Memorandum of Understanding (MoU), ten 
internships were made available, in comparison to six in 2016.  
Table 28 China LDCs and Accessions Programme – Financial  Report  Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  560 385 
Contributions received  473 485 
Interest earned / (paid)  -1 - 
Total funds  1032  870 
Total expenditures  -633 -310 
Balance as at 31  December  399 560 
 
4.9  China Development Cooperation R esearch Fund  
4.54.   The Government of the People's Republic of China and the WTO set up this Trust Fund to 
strengthen collaboration in research and research -related technical assistance and capacity 
building for trade.  
4.55.   The Trust Fund aims to support the WTO in organizing a series of Investment Facilitation 
Partnership Fora and maintain a global database of investment facilitation measures and other 
related activities.  
Table 29 China Development Cooperation Research Fund – Financial Report Summary  
Expressed in (thousands of CHF)  2017  
Funds as at 1  January  - 
Contributions received  520 
Interest  - 
Total funds  520 
Total expenditures  -235 
Balance as at 31  December  285 
 
4.10  Enhanced Integrated Framework Executive Secretariat  
4.56.   The Enhanced Integrated Framework (EIF) is an initiative to provide Trade -related Technical 
Assistance to the world's poorest countries as a means of integrating them fully into the 
Multilateral Trading System. Its Executive Secretariat was established in 2008 and is housed at the 
WTO. The International Bank for Reconstruction a nd Development, the International Monetary 
Fund, the International Trade Center , the United Nations Conference on Trade and Development, WT/BFA/W/450  
 
- 39 - 
 
 
  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.  
4.57.   Funding for the EIF is channelled through two sources: the multilater al EIF 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 expenditure s of the EIF Executive Secretariat.  
Table 30 Enhanced Integrated Framework Executive Secretariat – Financial Report 
Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  851 599 
Contributions received  3,731  4,269  
Interest  -5 -2 
Total funds  4,577  4,866  
Contracted commitments  -125 -115 
Total expenditures  -4,100  -3,900  
Balance as at 31  December  352 851 
 
4.11  Data Set on Trade in Services by Sector and Mode of Supply  
4.58.   The Trust F und was created in October 2016 by an agreement between the EU Commission 
and the WTO to finance a project aimed at  analys ing and providing data on goods, services and 
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 analysis in the services domain.  
Table 31  Data Set on Trade in Services - Financial Report Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  108 - 
Contributions received from the European Union  94 108 
Interest earned  - - 
Total funds  202 108 
Total expenditures  -104 - 
Balance as at 31  December  98 108 
 
4.12  Independent Entity – Pre-Shipment Inspection – Deposits  
4.60.   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 (ICC) and the International Federation of Inspection Agencies (IFIA) is established 
under Article 4 of the Agreement on Pre -shipment Inspection.  
4.61.   Deposit  payments 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  
Inspection Limited, Inspectorate Griffith Limited, Inchcape Testing Services International Limited.  
4.62.   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/450  
 
- 40 - 
 
 
  Table 32 Independent Entity – Pre-Shipment Inspection – Deposits – Financial Report 
Summary  
Expressed in (thousands of CHF)  2017  2016  
Funds as at 1  January  88 88 
Interest earned  - - 
Total funds  88 88 
Total expenditures  - - 
Balance as at 31  December  88 88 
4.13  Programme Support Fund  
4.63.   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).  
4.64.   The WTO may allocate a portion of the Programme Support Costs to Trust F unds that it 
manages with implementing partners.  
4.65.   Overhead fees are collected and calculated as of the 31st December of each year.  
4.66.   10% of the expenses in the PSF are statutorily credited back to the WTO regular budget as 
a contribution in r ecognition of the fact that the Organization's resources are being used for the 
delivery of the technical assistance activities financed from the extra-budgetary funds.  
4.67.   In 2017, expenses in the PSF corresponded mainly to fixed  term and short -term contracts  
for professional or support staff performing back -office duties relating to the delivery and the 
administration of technical assistance activities.  
Table 33 Programme Support Fund –Financial Report Summary  
Financial Report Summary (thousands of CHF)  2017  2016  
Funds as at 1  January  996 914 
Overhead fees collected  2,395  2,282  
Overheads fees – Allocated to Implementing Partners  -212 -204 
Total funds  3,179  2,992  
Total expenditures  -2,155  -1,996  
Balance as at 31  December  1,024  996 
 WT/BFA/W/450  
 
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  5  FINANCIAL STATEMENTS  
5.1  Management letter of representation  
5.1.  The financial statements for 2017 are the responsibility of the Management of the WTO 
Secretariat. These financial statements are prepared in accordance with the World Trade 
Organization's (hereinafter "WTO") Financial Regulations, Financial Rules and International Public 
Sector Accounting Standards. The financial disclosures form part of the financial statements 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 provide reasonable assurance regarding the 
reliability of these financial statements. Th is 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 Re gulations and Financial Rules; and provide reasonable assurance regarding the 
prevention or timely detection of unauthorized acquisition, use or disposal of the WTO's assets. 
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 2017 
and financial position as at 31 Decemb er 2017. 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 pages.  
 
 
 
 
 
   
__________________________________  
 __________________________________  
 
 
 
 Roberto Azevêdo  Francesco Perlini  
 Director -General  Head of Financial Reporting , Chartered Accountant  
  Administration and General  
  Services Division  WT/BFA/W/450  
 
- 42 - 
 
 
  5.2  Opinion of the external auditor  
BUNDESRECHNUNGSHOF -SUPREME AUDIT  
INSTITUTION OF GERMANY  
 
 June 2017 
 
 
To Mr  Roberto Azevêdo,  
Director -General of the World Trade Organization  
 
 
Dear Sir,  
 
I have the honour to transmit the financial statements of the World Trade Organization (WTO) for 
the financial year ended 31 December 2017, which were submitted to me in accordance with 
WTO´s Financial Regulations. I have audited these statements and have expressed my opinion 
thereon.  
 
Further, in accordance with the Organization´s Financial Rules and Regulations, I have the honour 
to present my report on the accounts of the WTO for the year ended 31 December 2017  
 
Please accept, Sir, 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 2017, 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 Institutions (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 misstatement.  
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 audit 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 IPSAS and for such internal control as Management determines is 
necessary to enable the preparation of financial statements that a re free from material 
misstatement, whether due to fraud or error.  
In preparing the financial statements, the Management is responsible 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 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 report ing 
process.  
Auditor's responsibility  
 WT/BFA/W/450  
 
- 43 - 
 
 
  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 mate rial 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 scepticism 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 for  
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 a re 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 sign ificant 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 a re 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 WTO  to cease to continue as a going concern;  
 Evaluate the overall presenta tion, 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 charged 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 2017, that they have been prepared in 
accordance with International Public  Sector Accounting Standards (IPSAS) and 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 2017.  
 
Report Reference  
 
I have also prepared a long -form report on the W TO’s financial statements.  
 
 
 
 
 Kay Scheller  
 President of the Bundesrechnungsh of 
 Supreme Audit Institution of Germany  
 External Auditor  WT/BFA/W/450  
 
- 44 - 
 
 
  5.3  WTO Financial Statements  
Table 34 Statement of Financial Position  
Statement of F inancial Position     
    
Expressed in '000 CHF  Note s 31/12/2017  31/12/20165 
ASSETS     
Current assets     
Cash and cash equivalents  4 115,098  132,862  
Receivables from Members  5 23,366  6,755  
Receivables from Observers  5 590 582 
Inventories  6 393 442 
Other receivables  7 3,522  2,789  
Advances and prepayments  8 4,766  5,381  
Total Current Assets   147,735  148,811  
    
Non -current assets     
Building  9 121,347  124,346  
Equipment  9 11,711  13,238  
Intangible assets  10 409 372 
WTO Pension Plan a ssets 14 595,921  535,529  
Total  non -current assets   729,388  673,485  
    
Total assets    877,123  822,296  
    
LIABILITIES     
Current liabilities     
Payables  11 4,801  2,754  
Accruals  11 6,600  5,099  
Assessed contributions received in advance  12 9,372  16,783  
Voluntary Contributions refundable to donors  13 32,916  34,502  
Short -term employee benefits  14 12,122  12,148  
Total current liabilities   65,811  71,286  
    
Non-current liabilities     
Loan  15 54,000  55,200  
Pension benefits  14 1,034,918  982,040  
After Service Health Insurance benefits  14 228,938  226,251  
Other Long -term employee benefits  14 8,315  7,708  
    
Total non -current liabilities   1,326,171  1,271,199  
Total liabilities    1,391,982  1,342,485  
    
Net assets/equity   -514,860  -520,190  
    
NET ASSETS/EQUITY     
Working Capital Fund  16 10,885  10,885  
Actuarial gain/(loss)  14 246,687 210,445  
Accumulated surplus   -837,337  -806,391  
Provision for right of use – Centre William Rappard  9 58,586  59,192  
Reserves  17 15,844  12,179  
Extra Budget Fund Allocation  17 -9,525  -6,500  
Total net assets/equity   -514,860  -520,190  
                                                
5 The 2016 Statement of Financial Position was adjusted as per Note 3.  WT/BFA/W/450  
 
- 45 - 
 
 
  Table 35 Statement of Financial Performance  
Statement of Financial Performance     
    
Expressed in '000 CHF  Notes  31/12/2017  31/12/2016  
 REVENUE     
Contributions assessed on Members  18 195,500  195,538  
Contributions of Observers  18 588 594 
Voluntary contributions on Trust F unds 18 20,895  19,786  
Revenue from publications  18 545 614 
Other revenue  18 1,164  1,136  
WTO Pension Plan revenues  18 2,406  9,556  
    
Total revenue   221,098  227,224  
    
EXPENSES     
Staff Expenditure  19 -134,819  -133,477  
Actuarial cost for ASHI  19 -11,058 -13,177  
Actuarial cost for pension  19 -22,763  -26,441  
Temporary Assistance  19 -24,450  -22,942  
Supplies and other General Service Costs  19 -15,436  -15,471  
Travel & Hospitality  19 -15,124  -12,636  
Implementing Partners  19 -4,371  -4,572  
Contribution to ITC  19 -18,775  -18,775  
Ministerial Conference Operating Fund (variation)  19 1,022  -532 
Appellate Body Operation Fund (variation)  19 -270 -399 
Depreciation  19 -5,603  -5,653  
Provision for contribution in arrears  19 -499 -1,373  
Depreciation of provision for right of use – Centre 
William Rappard  19 606 606 
Finance Costs  19 -292 -174 
Loss on foreign exchange transactions  19 -214 -449 
    
Total expenses   -252,044  -255,466  
    
Surplus/(deficit) for the period   -30,946  -28,242  
 
Table 36 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION  
AS AT DECEMBER 31, 2017 (Expressed in Thousands of CHF)  
 Working 
Capital 
Fund Actuarial 
loss Cumulative 
Surplus/ 
(Deficit )  Right of 
use Budget 
allocati
on Reserves  Total Net 
Assets/ 
Equity  
Balance at 
31/12/201 6 10,885  210,445  -806,392  59,192  -6,500  12,179  -520,190  
Actuarial loss  -  36,242  -  -  -  -  36,242  
Recognition right 
of surface  -  -  -  -606     -  -606 
Budget allocation  -  -  -  -  - 3,025  -  -3,025  
Surplus/Deficit 
for the period  -  -  -30,946  -  -  -  -30,946  
Reserves  -  -  -  -  -  3,665  3,665  
Balance at 
31/12/2017  10,885  246,687  -837,338  58,586  -9,525  15,844  -514,860  
 WT/BFA/W/450  
 
- 46 - 
 
 
  Table 37 Cash Flow Statement (Indirect method)  
WORLD TRADE ORGANIZATION    
AS AT DECEMBER 31, 2017 ( Expressed in Thousands of CHF)    
 2017  2016  
Cash Flows from Operating Activities    
Surplus/Deficit from ordinary activities  -30,946  -28,242  
Depreciation and amortisation  5,603  5,653  
Right of use - Centre William Rappard  -606 -606 
Provision for contribution in arrears  499 1,373  
(Increase) / decrease in receivables from Members and Observers  -17,118  6,286  
(Increase) / decrease in inventories  49 -54 
(Increase) / decrease in other receivables  -733 2,806  
(Increase) / decrease in pension assets  -60,392  -39,263  
(Increase) / decrease in advances and prepayments  615 -93 
Increase / (decrease) in payables  2,047  -3,800  
Increase / (decrease) in accruals  1,501  2,328  
Increase / (decrease) in contributions received in advance  -7,411  473 
Increase / (decrease) in voluntary contributions refundable to donors  -1,586  -1,168  
Increase / (decrease) in grants  - -135 
Increase / (decrease) in employee benefits  56,146  -10,244  
Increase / (decrease) IPSAS Opening Balance  - -118 
Actuarial Gain / (Loss)  -36,242  77,519  
Increase/(decrease) Reserves  3,665  4,030  
Increase/(decrease) Extra Budget Allocation  -3,025  -3,100  
Net Cash Flows from Operating Activities  -15,450  13,646  
   
Cash Flows from Investing Activities    
(Increase)/decrease property, plant and equipment  -1,077  -456 
(Increase)/decrease of intangible assets  -37 143 
Net Cash flows from investing activities  -1,114  -313 
   
Cash Flows from Financing Activities    
Increase/ (decrease) of loans  -1,200  -1,200  
Increase/ (decrease) in Working Capital Contributions  - 108 
Net Cash Flows from Financing Activities  -1,200  -1,092  
   
Net Increase /(Decrease) in Cash and Cash Equivalents  -17,764  12,242  
   
Cash and cash equivalents at beginning of period  132,862  120,620  
     
Cash and Cash Equivalents at end of period  115,098  132,862  
 
 
 
 
 
 
 WT/BFA/W/450  
 
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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 the International Public Sector Accounting Standards (IPSAS ). Where IPSAS are 
silent concerning any specific standard, the appropriate International Financial Reporting 
Standards (IFRS) are applied.  
5.4.1.2   Consolidation  
5.5.  The International Trade Centre UNCTAD/WTO (ITC) is the joint technical co -operation agency 
of the United Nati ons (UN) and the WTO for Trade -related Technical Assistance . Originally created 
by the General Agreement on Tariffs and Trade (GATT) in 1964, the ITC has operated since 1968 
under the joint aegis of GATT and the UN, the latter acting through the  United Nations Conference 
for Trade and Development (UNCTAD). At that time, GATT and UNCTAD were both under the 
United Nations system and thus reporting to the General Assembly.  
5.6.  ITC is the focal point for technical assistance and cooperation activities i n 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 9  August  1973.  
5.7.  In accordance with IPSAS 35, 36 and 37 ITC  is not considered  as being  a jointly controlled 
entity . Therefore, its financial statements are not  consolidat ed into those of the WTO.   
5.4.1.3   Foreign currency  
5.8.  The functional and reporting currency of the WTO is Swiss Francs (CHF). Transactions 
denominated in foreign currencies (other than as sessed 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 
converted and credited at th e bank rate of exchange applicable on the value date. Monetary assets 
and liabilities in currencies other than CHF are converted into CHF at the year -end United Nations 
exchange rate.  
5.9.  Foreign exchange gains and losses resulting from the settlement of forei gn transactions are  
recognised in the S tatement of Financial P erformance.  
5.4.1.4   Segment reporting  
5.10.   A segment is a distinguishable activity or group of activities for which financial information 
is reported separately. WTO activities are classified into two segmen ts: i) regular budget and ii) 
Trust Funds.  
5.4.1.5   Use of estimates  
5.11.   The preparation  of financial statements includes the use of 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; financial risks on 
inventories and accounts receivable; expenses relating to the ITC; contributions to the 
International Computing Centre; contingent assets and liabilities and the degree of im pairment of 
fixed assets. Actual results could differ from these estimates. Changes in estimates are reflected in 
the period in which they become known.  
                                                
6 All balances are presented in thousands of Swiss Francs. As a result, small rounding differences may 
occur.  WT/BFA/W/450  
 
- 48 - 
 
 
  5.4.1.6   Cash and cash equivalents  
5.12.   Cash and cash equivalents comprise cash in hand and cash accounts at banks. C ash and 
cash equivalents that can only be used for a specific purpose (e.g. Working Capital Fund) are 
considered as restricted.  
5.13.   The Cash Flow Statement is prepared using the indirect method.  
5.4.1.7   Receivables  
5.14.   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.  
5.15.   The methodology for provision for assessed outstanding contributions from Members and 
Observers is based on the numbe r of years of outstanding contributions and complies  with the 
principles established by the General Council pertaining to Administrative Measures.  
Table 38 Level of Provisions on 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  
5.16.   Discounting on advances and prepayments is not applied unless the effect is expected to be 
significant.  
5.4.1.9   Inventories  
5.17.   Inventories include the value of publications and souvenirs held for sale and those 
distributed free of charge. The cost of acquired publica tions 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 labour cos t. 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.  
5.18.   An annual physical inventory is co nducted for 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 E quipment  
5.19.   Property, Plant and E quipment are recognised at historical cost less any accumulated 
depreciation and impairment loss. The following thresholds are defined fo r the recognition of 
Property, Plant and E quipment:  
 Any asset with a value above CHF  5,000 is fully capitali zed when acquired 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 value above CHF 500,000. Moreover any internally developed software is capitalized if 
the value exceeds CHF 500,000.  WT/BFA/W/450  
 
- 49 - 
 
 
  5.20.   Property is recognised at cost. All classes of equipment have been recognised 
retrospectively, except for furniture. Only furniture and equipment acquired since 2007 has been 
accounted for in the opening balance. The Organization is using the transitional provision (IPSAS 
17, par. 95) for this class of asset. The Organization has also not been able to recognise the c osts 
directly attri butable to specific piece s of equipment (such as consulting costs) if they were 
separately invoiced.  
5.21.   Contributions in -kind relating to Property, Plant and E quipment, 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.  
5.22.   Depreciation is provided for Property, Plant and E quipment 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.  
5.23.   The useful lives of major classes of assets have been estimated as follows:  
Table 39 Useful Life of Classes of Assets  
Class  Estimated useful life (years)  
Centre William Rapp ard building  99 years  
Structural components of the building  50 years  
Building carpentry  25 years  
Waterproof system, restoration, 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  
Artwork  10 years  
Windows and heating  25 years  
Vehicles  5 years  
 
5.24.   Damaged assets are impaired at year -end based on information received.  
5.25.   Heritage assets are not recognised in the financial statements.  
5.4.1.11    Intangible Assets  
5.26.   Intangible assets are stated at historical cost less accumulated depreciation and impairment 
losses. Depreciation is provided over the estimated useful life (4 years) using the straight line 
method. Licence rights lasting one year are ex pensed during the year.  
5.27.   Maintenance and upgrade costs imposed by the software companies or other external 
factors are recognised as expenditure. The cost of software bought with hardware is included in 
the hardware cost.  
5.28.   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  
5.29.   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 employment benefits (installation grants); regular 
monthly benefits (wages, salaries, and allowances); compensated absences (paid sick WT/BFA/W/450  
 
- 50 - 
 
 
  leave or maternity leave); annual leave and other short -term benefits for international 
staff members  (education grant, home leave).  
b. Post-employment benefits comprise the estimated actuarial liability of defined benefit 
plans for retirement; and the ASHI cover.  
5.30.   The actuarial liability is the present value of the defined benefit obligations (relating to 
pension and ASHI) at the reporting date . Simila rly, the fair value of the 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.  
5.31.   The WTOPP is a separate entity with i ts 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 statements of the 
WTO Secretariat.  
5.32.   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 recognized immediately in net assets.  
5.33.   Post-employment benefits include the removal cost lump sum option for international staff 
members and separation grant. They are calculated in -house and are discounted using the same 
rate as the one used for the  valuation of the WTOPP and ASHI.  
5.4.1.13   Provisions an d contingent liabilities  
5.34.   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 required to 
settle the obligation.  
5.35.   Other commitm ents, 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 -occurrence of one or more uncertain future eve nts which are 
not wholly within the control of the WTO.  
5.4.1.14   Tax 
5.36.   The WTO assets, income and other property are exempt from all direct taxation.  
5.4.1.15   Revenue recognition  
5.37.   Revenue from assessed contributions as well as voluntary contributions is recognised as 
non-excha nge 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 
reception of the funds, the WTO re cognises an asset and a liability (voluntary 
contributions refundable to donors). Revenue is recognised when carrying out the 
specified performance and the conditional liability is therefore discharged. Voluntary 
contributions are therefore recognised up t o the amount expensed in the period.  
5.38.   Revenue from exchange transactions (mainly sale of publications, interest earned and rental 
of meeting rooms) is recognised when goods or services are delivered.  
5.39.   In-kind contributions of services are not recognised in the financial statements.  WT/BFA/W/450  
 
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  5.4.1.16   Expenses  
5.40.   Under accrual accounting, expenses are recognised at the time of delivery of goods or 
services by the supplier or service provider.  
5.41.   The WTO signs agreeme nts with partners to implement T rade-related T echnical 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 disbursement 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  
5.42.   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 rating equivalent to A - or better.  
b. Foreign currency exchange risk:  
 The exposure to the foreign exchange rate risk is reduce d 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 permissible 
maximum holding in foreign currency is 10% of overall funds.  
c. Interest and ma rket 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 invested 
through the following asset classes:  
Table 40 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 o f 
the receipt of Members ' contributions and the cash -flow requirements.  
5.4.3   Note 3 Restatement of the 201 6 Statement of Financial Position  
5.4.3.1   Aging factor assumption  
5.43.   In 2016, being the first year of the engagement  with the new actuarial provider , due to a 
miscommunication with the former actuary the age factor assumption was not considered in the 
calculation for  the 2016 ASHI liabilities. This resulted in a significant overcasting of the actuarial 
gain when measuring the benefit obligation at the end of 2016.  
5.44.   As of 31  December , 2017, the age factor was instead taken into account when determining 
the valuation of  the ASHI liabilities. This resulted in an actuarial loss when measuring the benefit 
obligation at end of 2017 . For completeness and consistency, the 2016 value was then restated, WT/BFA/W/450  
 
- 52 - 
 
 
  applying the same aging factor assumption.  This only affected the ASHI liabi lities and net 
assets/equity. See the table below:  
Expressed in thousands of CHF     
 31/12/2016  ASHI Adjustments  31/12/2016 
(adjusted)  
Total assets  822,296  -  822,296  
Total liabilities  1,227,166  115,319  1,342,485  
Total net assets/equity  -404,870  -115,319  -520,189  
 
5.4.3.2   Persistence of negative interest  
 
5.45.   In 2017 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.  
5.4.4   Note 4 Cash and cash equivalents  
Table 41 Cash Situation  
Cash and cas h equivalent  
(expressed in thousands of CHF)  31/12/2017  31/12/2016  
Cash in hand  5                               10  
Cash at bank by currency  115,093                        132,852  
Total cash and cash equivalent  115,098  132,862  
   
Cash represented in terms of base currency    
CHF 97,336                        122,920  
USD (in CHF equivalent)  14,805  8,334  
EUR (in CHF equivalent)  2,883  1,256  
GBP (in CHF equivalent)  74 352 
Total at bank by currency  115,098  132,862  
5.46.   The bank balance  in CHF includes restricted funds held by the Working Capital Fund for an 
amount  of CHF 10. 885 million . 
5.47.   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 bank s in order to obtain competitive 
rates. However, the expense emanating from  negative interest rates continues to rise as 
thresholds are adjusted . 
5.4.5   Note 5 Receivables from Members, Observers and Donors  
5.48.   Receivables from Members and Observers include receivabl e assessed contributions as well 
as receivable advances due to the Working Capital Fund. The details for contributions due from 
Members and Observers are presented in S chedules  B and C, respectively.  
5.49.   A provision for outstanding contributions is calculated based on the ag eing of the 
contributions.  
Table 42 Receivables from Members  
Expressed in thousands of CHF  31/12/2017  31/12/2016  
Receivable Assessed Contributions - Members  33,779  16,507  
Receivables due to the Working Capital Fund  - 163 
Provision for Contributions in Arrears  -10,413  -9,915  
Total receivable from Members  23,366  6,755  
 WT/BFA/W/450  
 
- 53 - 
 
 
  Table 43 Receivables from Observers  
Expressed in thousands of CHF  31/12/2017  31/12/2016  
Receivable assessed contributions - Observers  590 582 
Total receivable from Observers  590 582 
Table 44 Provision for Arrears from Members and Observers  
Expressed in Thousands of  CHF Provision for 
outstanding 
contributions a s 
of 1st January 
2017 Adjustment of 
the provision 
during 2017  Provision for 
outstanding 
contributions as  31 
December 2017  
Members  9,447  500 9,947  
Observers  468  2  466  
Total  9,915  498 10,413  
 
5.50.   As of 31 December 2017, thirteen Members , with a total amount outstanding of CHF 
6.9 million , were subject to Administrative Measures. This amount represented  21% of the total 
amount outstanding. Among the observers, Libya and Sao Tome & Principe were subject to 
Administrative Measures for a total amount outstanding of CHF 420,400, representing 71% of the 
total amount outstanding.   
5.4.6   Note 6 Inventories  
Table 45 Inventories per type  
Inventories Expressed in Thousands of  CHF 31/12/2017  31/12/2016  
WTO publications and co -publications  277 314 
Non WTO publications  43 51 
Souvenirs  73 77 
Subtotal inventories (including adjustments and write offs)  393 442 
Table 46 Inventories per storage  
Inventories Expressed in Thousands of  CHF 31/12/2017  31/12/2016  
External WTO Storage  120 126 
Internal WTO Storage  273 316 
Subtotal inventories (including adjustments and write offs)  393 442 
 
5.51.   Inventories consist of WTO publications, co -publications, other non -WTO publications and 
souvenirs held for sale and similar items handed out as gifts.  
Table 47 Inventory Adjustments and write -offs 
Expressed in Thousands of  CHF 31/12/2017  31/12/2016  
Adjustments  -6 - 
Write -offs -22 -8 
Total Adjustments and write offs  -28 -8 
 
5.52.   T 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 is about 1 .40% (CHF 5,824 ) of the total inventory and well below indu stry standards 
ranging around 5% of discrepancy.  
5.53.   Write -offs relate to obsolete inventories. T he write -off policy was revised in 2011. Obsolete 
publications are identified by making a title by title analysis based on statistics of the last three 
years ' sales and distribution . 
 WT/BFA/W/450  
 
- 54 - 
 
 
  5.4.7   Note 7 Other receivables  
Table 48 Other Receivables  
Expressed in Thousands of  CHF 31/12/2017  31/12/2016  
Recoverable United States taxes  2,854  2,548  
Recoverable Swiss taxes  26 20 
Various other receivables  642 221 
Total other receivables  3,522  2,789  
 
5.54.   Other receivables include receivables from non -exchange7 transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables".  
5.55.   In 2017, 94% of the amount of "Other R eceivables " 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 requires its citiz ens and residents to file and pay tax regardless of their domicile. 
When a staff member is obligated 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 of America Government, in conformity with an Agreement between the WTO 
Secretariat and the United States of America, of 22 December 2000.  
5.56.   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 latter has been validated by the 
Administrative Tribunal of the International Labour Organization. The difference in reimbursement 
methods results in a non -reimbursable amount of CHF 286,509 for 2017. In 2016 the amount was 
CHF 205,040. 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.  
5.57.   As an International Organization, the WTO 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 to the Swiss authorities.  
5.58.   The various other receivables include advances paid by WTO for the 11 th Ministerial 
Conference  that are to be reimbursed by the country that hosted the Ministerial Conference.   
5.4.8   Note 8 Advances and Prepayments  
Table 49 Prepayments  
Expressed in Thousands of  CHF 31/12/2017  31/12/2016  
Staff advances for salary, travel and education grant  2,789  2,829  
Advances relating to Trust Fund  activities  1,337  1,643  
Other advances  640 909 
Total advances and prepayments  4,766  5,381  
 
5.59.   Staff advances for education grants, salary and travel are in line with the value of 2016 , 
representing a total of CHF 2.7 9 million in 2017.  
5.60.   Advances relating to Trust Fund activities include advances paid to hotels where the 
activities were held as well as advances to implementing partners. This amount decreased 
compared to the previous year s ince 2017 was a Ministerial Conference year thus not allowing for 
Technical Assistance  activities to continue through November and December.  
5.61.   Other advances correspond to payments made to suppliers, C onsultants and insurance.  
                                                
7 As per IPSAS 23.  WT/BFA/W/450  
 
- 55 - 
 
 
  5.4.9   Note 9 Property, Plant and Equi pment  
Table 50 Building s 
Expressed in (thousands of CHF)  Building  
Historical Cost as 1st January 2017  134,543  
Additions  -  
Cost at 31/12/2017  134,543  
Accumulated depreciation 01/01/2017  -10,197  
Depreciation  for 2017  -2,999  
Accumulated depreciation at 31/12/2017  -13,196  
Net carrying amount at 31/12/2017  121,347  
 
5.62.   On 7th August  2015 the infrastructure contract signed between WTO and the Swiss 
Authorities concerning the C entre William Rappard  building was registered at the " Registre foncier 
de Genève". This registration defines a new process of depreciation for 99 years that begins with 
the date of registration.  
5.63.   The agreement imposed restrictions on the resale value of the C entre 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 using the same rate of depreciation as that of the Building.  
5.64.   The C entre William Rappard  and the new administrative building belong to the WTO. At the 
end of 2012, final reception for both the renovation work of the C entre William Rappard  (financed 
by the Swiss authorities) and the construction work of the new building was completed. No 
revaluation of the carrying amount occurred in 201 7. 
5.65.   The WTO has ben efited from contributions in -kind relating to the use of different buildings:  
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 
Organization Internat ionales" (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.  
c. Free right to use an underground parking lot with 400  parking spaces, located in the 
neighbourhood.  
5.66.   As part of the building project, artwork and decoration s were acquired and recognised at 
their purchase prices and are subject to depreciation.  WT/BFA/W/450  
 
- 56 - 
 
 
  Table 51 Equipmen t 
Expressed in 
(thousands of 
CHF)  Furnit ure Audio 
visual 
equipment  Security 
equipment  Reproduction 
equipment  IT  
equipment  Vehicle  Total  
Historical cost at 
01/01/2017  9,317  7,738  3,103  1,638  3,445  291  25,532  
Additions  -  17  737  -  154  -  908  
Disposals   - -  -  -  -138  -  -138  
Cost at 
31/12/17  9,317  7,755  3,840  1,638  3,461  291  26,302  
Accumulated 
depreciation as 
at 01/01/2017  -3,565  -2,750  -1,733  -1,414  -2,550  -166  -12,178  
Depreciation 
for 2017  -929  -775  -324  -42  -322  -44  -2,436  
Disposals  -  -  -  -  23  -  23  
Accumulated 
depreciation  
at 31/12/17  -4,494  -3,525  -2,057  -1,456  -2,849  -210  -14,591  
Net carrying 
amount at 
31/12/17    4,823  4,230  1,783  182  612  81  11,711  
 
5.4.10   Note 10 Intangible Assets  
Table 52 Intangible Assets  
Expressed in (thousands of CHF)  Software acquired  Software internally 
developed  Total 
Intangible  
Historical cost at 01/01/2017  802  466    1,268  
Additions  205  -    205  
Disposals  - - -    
Cost at 31/12/2017  1,007  466  1,473  
Accumulated depreciation as at 
01/01/2017  -430  -466  -896  
Depreciation for the 2017  -168  -    -168  
Disposals  - - -    
Impairment losses  - - -    
Accumulated depreciation as at 
31/12/2017  -598  -466  -1,064  
Net carrying amount at 
31/12/2017  409  -  409  
 
5.4.11   Note 11  Accounts payable  
Table 53 Payables  
Expressed in (thousands of  CHF) 31/12/2017  31/12/2016  
Suppliers  3,772  2,399  
WTO staff, consultants and interns  1,004  351  
Other payables  25  4  
Total payables  4,801  2,754  
Accruals  6,600  5,099  
Grand Total  11,401  7,853  
 
5.67.   The total accounts payables include payables to suppliers, WTO staff members, Consultants 
and I nterns, other payables, and accruals. The payables to suppliers arise from the purchase of 
goods and services that have been rendered but not paid by the end of 2017.  
5.68.   The incr ease in payables to WTO staff members, Consultants and I nterns was about mainly 
relates to  premium for the health insurance.  WT/BFA/W/450  
 
- 57 - 
 
 
  5.4.12   Note 12  Assessed contributions paid in advance  
5.69.   Contributions paid in advance by Members a nd Observers at 31  December  2017 consist of 
advance payments received and interest earned and due to Members.  
Table 54 Contributions paid in Advance by Members and Observers  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  Reference  
Contributions paid in advance by Members and Observers  9,372  16,783  Schedule s B and 
C 
Total contributions paid in advance by Members and 
Observers  9,372  16,783    
5.70.   The General Council implemented a system to encourage early payment of contributions. 
The annual interest earned on the current year's contributions is refunded to Members on the basis 
of calculations that take into account the amount and date of payment. The interest earned by a 
Member in a given year is deducted from the Member's contribution due two years later.  In 2015, 
2016 and 2017 , due to the establishment of negative interest rate b y the Swiss National Bank, 
Members gained no interests. On a contrary, negative interest was covered by the WTO regular  
budget and not charged to the M embers.  
5.4.13   Note 13 Voluntary contributions refundable to donors  
Table 55 Voluntary  contributions refundable to donors (including advances)  
Expressed in (thousands of CHF)  2017  2016  
Balance due to donors as of 31 December 2016  34,502  35,671  
Contributions paid in advance for 2017 activities  -1,112  -1,387  
Balance due to donors as of  1 January 2017  33,391  34,284  
Voluntary contributions received in 2017  19,386  19,112  
Reimbursement in 2017   -402  -  
Receivables  -  -219  
Expenses incurred on Trust F unds (note 20)  -20,894  -19,786  
Allocation Health Insurance L -Post 216 - 
Balance due to donors as at 31 December 2017 (Schedule E)  31,696  33,391  
Contributions paid in advance for 2017 and 2018 activities  1,221  1,112  
Balance due to donors as at 31 December 2017 (including advances)  32,916  34,502  
 
5.71.   In accordance with IPSAS 23, contributions from donors 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 performance.  
5.72.   In accordance with IPSAS, expenses are no longer recognised based on commitments but 
rather on accruals. Voluntary contributions refundable to donors include commitments m ade to 
third parties regarding Trust F und activities.  
5.73.   In 2017 a total amount of CHF 402,000 were reimbursed to donors CHF 299,000 were 
reimbursed from the DDGTAF to the Netherlands, CHF 55,000 from the TEVAL to the European 
Union and CHF 48,000 from the TEVAL to Sweden.  WT/BFA/W/450  
 
- 58 - 
 
 
  5.4.14   Note 14 Employee benefits8 
Table 56 Provision for Employee Benefits  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
 Short -term benefits   Dependency allowance  50  50  
   Untaken annual leave  8,804  8,724  
  Compensatory time  8,678  8,607  
        Overtime  126  117  
   Education grant  1,283  1,268  
   Home leave  1,040  967  
   Separation grant due for 
payment within 12 months    107  298  
   Provision for Bonus    839  839  
Subtotal    12,122  12,147  
Long-term benefits  Removal indemnity  1,033  946 
  Separation grant  7,281  6,762  
Post-employment benefits   ASHI  228,938  226,251  
   Pension   1,034,918  982,040  
Total    1,284,293  1,228,147  
 
5.74.   Employee benefits liabilities are determined by professional actuaries or calculated by the 
WTO based on personnel data and past payment experience.  
5.75.   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 fin ancial support for the 
dependants of staff  members that may have become eligible in 2017 but do not get 
announced until the following year.  The dependency allowances provision is determined 
in order to provide sufficient financial coverage to unexpected de pendency costs  
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 pruden ce the provision  
for untaken leave  is based on  90 days . Included in the provision of annual leave is the 
amount related to overtime of CHF 126,000.  
c. The provision for education grant is established associated with the first four out of ten 
months of the sch ool year corresponding to the closing  period 2017 (from September to 
December) that will only be settled at the end of the school year in the following 
calendar year.  
d. The provision for home leave is established to cover the amount due to eligible staff 
members in a given year for their home leave. Staff members are entitled to  go on  home 
leave every two years. The rules to calculate the home leave estimation for all the 
permanent international staff  members  are: 
i. The date of the last Home Leave (HL) is consi dered as the year during which the 
home leave was taken.  
ii.  A staff member who has not taken  HL for 2 years, i.e. since 2015 , is entitled to 
100% rights.  
iii. A staff member who has taken home leave in 2016 is assigned  half of the right . 
                                                
8 The value of ASHI Liabilities for 2016 has been restated as explained in Note 3.  WT/BFA/W/450  
 
- 59 - 
 
 
  iv.  A staff member who has t aken ho me leave in 2017  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 2014 and 
never asked for home leave.  
5.76.   At the end of their employment contract s, eligible staff members receive separation grant 
and international staff members leaving Switzerland are entitled to removal costs. The estimated 
amounts of the provision for separation and removal benefits is based on the  following 
assumptions:  
a. An average unit cost of the removal/indemnity for the international staff members, 
based on data from the past six years.  
b. The amount of the median salary and estimated inflation are based on the weighted 
average salary  between the highest and th e 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 in crement rate. Other assumptions such as the 
discount rate, working time and inflation rates are the same as the ones used for the 
actuarial valuation for pension and ASHI.  
5.77.   The rules to calculate the long term separation grant are:  
a. Local staff members with more than 10 years of service without dependents are entitle d 
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. International 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 separating 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 turns depends on the pay scale, regardless of time of 
service. In this case separation grant is  paid in two parts: 50% at the moment of 
separation and the other 50% after the p roof of relocation is provided.   
Table 57 Actuarial Assumptions to define benefit obligations  
Actuarial Assumptions  Pension   ASHI  
Discount rate  2.00% 2.00% 
Medical inflation rate  -  3.10% 
Inflation  0.60% -  
Rate of compensation increase  0.6% for 5 years, 1.1% thereafter plus merit 
increases  -  
Rate of pension increase  0.60%  -   
Table 58 Actuarial Assumptions  to define benefit costs  
Actuarial Assumptions  Pension   ASHI  
Discount rate  2.25% 2.25% 
Medical inflation rate  3.10%  3.10% 
Inflation  0.60%  -        
Rate of compensation increase  0.60% for 6 years, 1.1 0% 
thereafter plus merit 
increases  -  
Rate of pension increase  0.60%  -   
Expected long -term rate of  return of  the WTO Pension P lan assets  2.00%   -   WT/BFA/W/450  
 
- 60 - 
 
 
  5.78.   The actuarial assumptions shown in table 57 are used to calculate the liabilities for the 
WTOPP and ASHI at the year -end, using the end of year rates for 2017.  
5.79.   The actuarial assumptions shown in table 58 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 
WTOPP participants in the current period.  
Table 59 Financ ial Asset  – Pension  Asset  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Fair value of  the WTOPP  assets at  the beginning of  the year 535,529  496,266  
Expected return on the WTOPP  assets  11,706  13,310  
Actuarial (loss)/gain on the WTOPP  assets net of actual investment 
expenses  48,463  20,152  
Employer contributions  19,042  19,110  
Employer receivable contributions  241 2,016  
WTOPP  participants' contributions  9,522  9,555  
Benefits paid from the plan  -27,147  -23,454  
Expenses paid  -409 -373 
Premium paid  -983 -1,053  
Net transfer in(out) including effect of any business combinations  -43 -  
Fair value of WTOPP  assets at the end of  the year 595,921   535,529  
Table 60 Defined benefit obligation – Pension  Benefit  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Benefit obligation at beginning of year  982,040  855,635  
Service cost  29,420  27,385  
Interest cost  21,882  23,936  
WTOPP  participants' contributions  9,522  9,555  
Actuarial (gain)/loss  20,592  90,409  
Business combinations/divestitures/ transfers  -  -  
Benefits paid  -27,147  -23,454  
Premium paid  -1,391 -1,426  
Benefit obligation at the end of  the year 1,034,918  982,040  
 
Table 61 History of defined benefit obligations and experience gains and losses – 
Pension  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Defined benefit obligation  1,034,918  982,040  
Less: Fair value of WTOPP  assets  595,92 1  535,529  
Surplus / (Deficit ) 438,997   446,511  
 
Table 62 Defined benefit obligation – ASHI  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Benefit obligation at the beginning of the year  110,932  245,531  
Service cost  3,803  8,844  
Interest cost  2,556  6,959  
Actuarial (gain)/loss  113,927  -32,457  
Benefits paid  -280 -2,626  
Benefit obligation at the end of  the year 228,938  226,251  
 
5.80.   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.  WT/BFA/W/450  
 
- 61 - 
 
 
  5.81.   The method of calculation of the discount rate applied to 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 63 Summary  of experienced actuarial gain or losses in  the WTOPP  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Actuarial (loss)/gain on WTOPP  and ASHI assets net of actual 
investment expenses  48,463  20,152  
Actuarial loss on Pension Benefits  20,592  90,409  
Total actuarial gain/(losses) for the WTOPP   27,871  -70,257  
Table 64 Summary of experienced actuarial gain or losses for ASHI  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Total actuarial gain/(losses) for ASHI  113,927  -32,457  
5.82.   Pension and ASHI  benefits are calculated by consulting actuaries. The WTO pension liability 
amounts to CHF 1,034.92 million . This liability is counterbalanced by the corresponding pension's 
net fair value asset s of CHF 595.32 million. As a result the overall 2017 pension net liability is CHF 
439 million .  
5.83.   The 201 7 liability for ASHI is CHF 228.94 million  and decreased by CHF 118.01 million  
compared to the previous year.  
5.84.   The pension and ASHI liability increase is due mainly to the decrease of the actuarial rate 
from 2.25% in 2016  to 2% in 2017 . 
5.85.   Due to the change of the actuarial service provider, the ASHI liability for 2016 was 
calculated without the assumption on medical inflation by age which is an important assumption 
that affected both medical inflation and the contribut ions to ASHI.  
5.86.   In 2017, the new Actuarial Service Provider was able to collect the information on the aging 
factor for the 2017 WTO population and as a consequence the overall liability was adjusted in 
2017.  
5.87.   The discount rate is based on the rate by the Swiss Chamber of Pension Fund Experts 
(CSEP).  
5.88.   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 vol atility 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, early 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 s alaries, benefits , or medical costs; and  
c. differences between the actual return and the expected return on WTOPP assets.  
5.4.15   Note 15 Loan  
5.89.   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 duration of the loan is 50 years.  As at 31 December 2017 
the loan balance was CHF 54 million.  WT/BFA/W/450  
 
- 62 - 
 
 
  5.4.16   Note 16 Working Capital F und 
5.90.   Governments  acceding to the WTO are obligated to ma ke 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 c ountries or separate customs territories whose share of the total 
trade of Members is  0.5% or less.  
Table 65 Working Capital Fund Statement  
Expressed in Thousands  CHF 31/12/2017  31/12/2016  
ASSETS      
Cash and cash equivalents  10,885  10,723  
Receivables from Members  -    162  
      
Total assets  10,885  10,88 5 
      
LIABILITIES AND CAPITAL FUND      
Advances made by Members  6,161  6,161  
Interest earned  4,724  4,724  
      
Total liabilities and capital fund  10,885  10,88 5 
 
5.4.17   Note 17 Reserves  
Table 66 Reserves  
Expressed in 
Thousands  
CHF   Ministerial 
Conference 
Operating 
Fund   Doha 
Development 
Global Trust 
Fund   Appellate 
Body 
Operating 
Fund   Building 
Renovation 
Funds  Special 
Reserve 
Account 
Medical 
Insurance   Total  
Opening 
Balance at 
01/01/2017  532  1,000  1,707  8,940  -  11,179  
Replenishment 
of reserves  600  -  2,000  2,300  1,627  6,527   
Utilisation of 
reserves  -1,132  -  -1,730  -  -  -2,862   
Balance a s 
31/12/2017  - 1,000  1,977  11,240  1,627  14,844  
 
5.91.   The WTO Reserve Funds, amounting to CHF 15.84 million, include the following:  
a. In 2016, CHF 68,000 was spent from the Ministerial Conference Operating Fund to cover 
preparatory missions to Buenos Aires. In 2017, the Ministerial Conference Operating 
Fund was replenished with the annual allocation of CHF 600,000. In December 2017, the 
11th Ministerial Conference in Buenos Aires took place and was financed using the 
Ministerial Conference Operating Fund for a total amount of equalli ng its remaining 
balance.  
b. The DDAGTF 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 Appellate Body Operating Fund was replenished with an allocation of CHF 2 Million. 
Due to the increasing activ ity related to legal appeals, this Trust  Fund covered expenses 
approximating CHF 1. 73 Million in 2017 . 
d. The Building Renovation Fund was established in 2015 and was financed in 2 017 with an 
allocation of CHF 2 .3 million. No expendit ures had to be covered by this Trust F und in 
the current year. The overall value of the Trust Fund  is CHF 11.24  Million.  WT/BFA/W/450  
 
- 63 - 
 
 
  e. The Special Reserve Account for Medical Insurance was established in 2017, in 
accordance with a decision by the Committee on Budget, Finance and Administration. 
Budge tary savings pertaining to the medical expense b udget line in 2017 hav e been 
transferred to this Special Reserve Account.  
5.4.18   Note 18 Revenue  
5.92.   Revenue from non -exchange transactions includes revenue from assessed contrib utions 
from Members and Observers and voluntary contributions.  
a. Assessed Contributions amo unt 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 
Statements.  
b. Contributions from Observers amount to CHF 588,000 and are detailed in Schedule A of  
the Financial Statements . 
c. Voluntary Contributions from Trust Funds amounted to CHF 20.895 million. This amount 
is summarized in the table below. The 2017 voluntary contributions , by country,  are 
detailed in Schedule  D of the Financial Statements.  
Table 67 Voluntary Contributions   
Expressed in (thousands of CHF)  12/31/2017  
Contributions from Donors  19,385  
Reimbursement of Contributions  (403) 
2017 Performance of Trust  Funds  1,913  
Total  20,895  
5.93.   Revenue from exchange transactions is included in the line "Revenue from publications" and 
"Other revenue".  
5.94.   Income from publications including sales through the WTO bookshop and the WTO 
distributor as well as royalties, is summarized in the table below:  
Table 68 Revenues from publications  
Expressed in (thousands of CHF)  12/31/2017  12/31/2016  
Revenues from publications  printed in house  261 309 
Sales of WTO publications  139 177 
Sales of non WTO publications  78 81 
Sales of s ouvenirs  38 32 
Other sales on p ublications  (royalties)  29 15 
Total  545 614 
5.95.   Other revenue is summarized in the table below:  
Table 69 Other Revenue  
Expressed in (thousands of CHF)  31/12/2017  31/12/2016  
Refund of prior year's outstanding obligations  836  843  
Rental of meeting rooms and office spaces  128  127  
Miscellaneous  200  165  
Total Other Revenue  1,164  1,135  
5.96.   The refund of prior year obligations includes refunds from the medical insurance service 
providers and a portion of 2014/15 budgetary surplus from ITC.  
5.97.   Rental of meeting rooms and office space includes revenues generated by the outsourcing of 
WTO meeting facilities to other entities.  WT/BFA/W/450  
 
- 64 - 
 
 
  5.98.   Miscellaneous revenue includes the income portion of the grant received from FIPOI to 
repair the terrazzo in the Centre William Rappard.  
5.99.   Revenue from investment returns for the WTOPP amount ed to CHF 2.41 million.  
5.4.19   Note 19 Expenses  
5.100.   The main category of expenses are summarized as follows:  
a. Staff expenditures include costs such as salaries, annual leave, pension, health insurance 
among others.  
b. Pension Actuarial Cost increased compared to last year due to the effect of the inter est 
costs.  
Table 70 Staff Expenditures including Trust Funds  
Line 2017  2016  
Staff / Salary  90,897  86,928  
Staff / Annual leave  418  673 
Increase  / (decrease)  of Provision Annual Leave  79 -426 
Staff / Overtime  91 103 
Staff / Representation Allowance  171 176 
Staff / Pension  18,755  20,600  
Staff / Retiree Health Insurance  2,716  2,626  
Staff / Health Insurance  5,301  5,272  
Death and Invalidity Insurance  460 548 
Staff/ Allowances for Dependences  7,648  7,258  
Staff / Education Grant  4,127  4,210  
Increase  / (decrease)  of Provision f or Education Grant  15 -127 
Staff / Home Leave  990 1,554  
Increase / (decrease) of Provision for Home Leave  72 -44 
Staff / Rental Subsidy  432 429 
Staff / Travel and Removal  754 621 
Increase / (decrease) of Provision Travel & Removal  87 -253 
Staff / Installation Grant & Medical Examinations  397 141 
Staff / Separation Grant  498 1,256  
Increase  / (decrease)  of Separation Grant  519 -1,300  
Staff / Negotiated Termination Indemnity  106 3,025  
Staff / US Taxes  286 205 
Subtotal  134,819  133,477  
Staff / Pension Actuarial Cost  22,763  26,441  
Staff / Retiree Health Insurance Actuarial Cost  11,058  13,177  
Grand Total  168,640  173,095  
 
c. Temporary Assistance expenditures refer to costs related to external translation 
activities, and recruitment of C onsultants or staff with a sh ort-term contract. Costs for 
panellists and appellate body member s' fees also fall in this category.  
  WT/BFA/W/450  
 
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  Table 71 Temporary Assistance  including Trust Funds  
Line 2017  2016  
Short -Term Staff / Salary  6,229  5,583  
Short -Term Staff / Pension  638 627 
Short -Term Staff / Health Insurance  285 244 
Short -Term Staff / Annual Leave  324 278 
Short -Term Staff / Overtime  18 12 
Language and Translation costs  8,188  6,790  
Consulting costs  3,570  4,390  
Panellists & Appellate Body Members ' Fees 2,609  2,562  
Interns  2,628  2,492  
Consolidation with Trust Funds  -39 -36 
Total  24,450  22,942  
5.101.   Other categories of expenditures reported in the Statement of Financial P erformance 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; tickets  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 refreshments during official meetings.  
c. Implementing p artners' expenditures amount to CHF 4 .4 million and represent costs for 
activities funded by WTO but executed by third -party organizations. The costs for these 
activities remained stable compared to the previous year.  
d. Contribution to ITC includes the funds  granted to ITC for its core activities.  
e. The Ministerial Conference of Operating Fund was used in 2017 to cover expenditures of 
the Ministerial conference in Buenos Aires which by statute are fixed in the maximum 
amount of CHF 1.2 million for the WTO.  
f. The depreciation of assets  includes the amortisation of the liability related to the C entre 
William Rappard  following the concession of a right of use of C entre William Rappard  
premises from the Canton de Genève.  
g. Finance and foreign exchange costs refer main ly to interest paid to banks and expenses 
due to exchange rate transactions among different currencies.  
5.4.20   Note 20 Segment reporting  
5.102.   Segment information is based on the two main categories . These segments are: i) the 
regular budget of the WTO, and ii) Trust F unds. Segment reporting will only be presented for the 
Statement of Financial Performance.  
5.103.   The only transfer across segments relates to the reallocation of part of the flows into the 
EPSF (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 that the Organization's 
resources are being used for the delivery of the technical assistance activities financed from the 
extra-budgetary funds (correspond ing to the amount of CHF 196,000). The counterpart of this 
amount is redistributed as follows:  WT/BFA/W/450  
 
- 66 - 
 
 
  a. 80% of this contribution is allocated to the Supplies and other general services costs 
(corresponding to the amount of CHF 157,000).  
b. 20% of this contribution is allocated to Temporary Assistance (corresponding to the 
amount of CHF 39,000).  
Table 72 Financial Performance by segments  
Expressed in Thousands of  CHF WTO 
Budget  Trust 
Funds  Inter -Fund 
Transactions  TOTAL 
WTO  
REVENUE          
Contributions assessed on Members  195,500  - - 195,500  
Contributions of Observers  588 - - 588 
Voluntary contributions on trust funds  - 20,895  - 20,895  
Profit / Loss on Fixed asset    - - - 
Extraordinary Revenue FIPOI  - - - - 
Revenue from publications  545     545 
Other revenue  1,360  - -196 1,164  
Transfer from Building Renovation Fund  - - - - 
WTO Pension Plan Revenue  2,406  - - 2,406  
Total revenue  200,399  20,895  -196 221,098  
          
EXPENSES          
Staff Expenditure  -127,717  -7,102  - -134,819  
Actuarial cost for ASHI  -11,058  - - -11,058  
Actuarial cost for pension  -22,763  - - -22,763  
Temporary Assistance  -21,527  -2,962  39 -24,450  
Supplies, write off and other general services 
costs -15,181  -412 157 -15,437  
Travel & Hospitality  -8,580  -6,544  - -15,124  
Implementing Partners  -604 -3,767  - -4,371  
Contribution to ITC  -18,775  - - -18,775  
Ministerial Conference Operating Fund  1,022  - - 1,022  
Appellate Body Operation Fund  -270 - - -270 
Depreciation  -5,603  - - -5,603  
Provision for contributions in arrears  -499 - - -499 
Depreciation of provision for right of use – 
Centre William Rappard  606 - - 606 
Finance costs  -222 -70 - -292 
Loss/(Gain) on foreign exchange transactions  -177 -37 - -214 
Building Renovation Fund  - - - - 
          
Total expenses  -231,346  -20,89 5 196 -252,045  
          
Surplus/(deficit) for the period  -30,946      -30,946  
 
5.4.21   Note 21 Reconciliation with Budget  
5.104.   The WTO consolidated budget includes the budget for the WTO Secretariat and the budget 
for the Appellate Body and its Secretariat. T he WTO F inancial Statements also include the activities  
financed by the Trust Funds. T he WTO Consolidated B udget 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).  
5.105.   A statement of comparison of the original 201 7 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 savings with the surplus account as required by the Financial Regulations 
and with the financial results as obtained from the implementation of IPSAS.  WT/BFA/W/450  
 
- 67 - 
 
 
  Table 73 Reconciliation of the budget ary result and financial result  
Expressed in Thousands of CHF   
Budgetary savings 31/12/2017  503 
Assessed contributions on new Members  -    
Miscellaneous income  635  
Surplus 31/12/2017  1,138  
Loan reimbursement  1,200  
Sales of Assets  -    
Revenue from publications printed in -house  260  
Building R enovation Fund Allocation  2,300  
Acquisition of  Property, P lant and E quipment  1,113  
Depreciation and amortisation of P roperty, Plant and E quipment  -5,603  
Depreciation of provision for right of use – Centre William Rappard  606  
Provision for contribution in arrears  -499  
Staff Provisions  -48  
Pension benefits actuarial valuation (net value)  -20,357  
After Service H ealth Insurance (ASHI) benefits actuarial valuation  -11,058  
Financial result 31/12/2017  -30,946  
 
5.106.   The financial deficit for 201 7 is CHF 30.9 million.  
5.4.22   Note 22 Key management personnel  
5.107.   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 
Director s-General.  
5.108.   The aggregate remuneration paid to key management personnel includes net salaries, 
entitlements such as education grant, home leave and dependency allowances, employer pension 
and health insurance con tributions.  
Table 74 Key management personnel  
Expressed in 
CHF Number 
of Staff  
Members  Net salaries and 
representation 
allowances  Other 
entitlements  Pension and 
health plans  Total 
31/12/201 7 
Key 
management 
personnel  5 1,545,030  30,308  322,067  1,897,405  
 
5.4.23   Note 23 Contingent assets and contingent liabilities  
5.109.   At the end of 201 7, the Organization held  bank guaranties  of kCHF 2,212 from Implenia 
related to the Building Project , kCHF 679 from HRS related to the Building Project  and kCHF 185 
for the Welcome P avilion . 
5.4.24   Note 24  Events after the reporting date  
5.110.   No material events  that would have impacted these statements  occurred between the 
reporting date and the date when the Financial  Statements were authorised for issue.  WT/BFA/W/450  
 
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  5.5  Schedules  
5.5.1   Schedule A 201 7 Statement  of Contributions from Member s  
Table 75 Contributions from Members in 201 7 (in CHF)  
Country  Net Assessed  
Contributions  
Afghanistan  48,875  
Albania  44,965  
Angola  496,570  
Antigua and Barbuda  29,325  
Argentina  780,045  
Armenia  35,190  
Australia  2,754,595  
Austria  1,978,460  
Bahrain, Kingdom of  168,130  
Bangladesh  297,160  
Barbados  29,325  
Belgium  3,800,520  
Belize  29,325  
Benin  29,325  
Bolivia, Plurinational State of  93,840  
Botswana  72,335  
Brazil  2,586,465  
Brunei Darussalam  80,155  
Bulgaria  316,710  
Burkina Faso  31,280  
Burundi  29,325  
Cabo Verde  29,325  
Cambodia  86,020  
Cameroon  64,515  
Canada  5,022,395  
Central African Republic  29,325  
Chad 44,965  
Chile 787,865  
China  18,756,270  
Colombia  576,725  
Congo  91,885  
Costa Rica  142,715  
Côte d'Ivoire  105,570  
Croatia  224,825  
Cuba 146,625  
Cyprus  119,255  
Czech Republic  1,397,825  
Democratic Republic of the Congo  103,615  
Denmark  1,515,125  
Djibouti  29,325  
Dominica  29,325  
Dominican Republic  154,445  
Ecuador  240,465  
Egypt  510,255  
El Salvador  74,290  
Estonia  179,860  
Eswatini  29,325  
Fiji 29,325  
Finland  944,265  WT/BFA/W/450  
 
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  Country  Net Assessed  
Contributions  
France  7,470,055  
Gabon  68,425  
The Gambia  29,325  
Georgia  64,515  
Germany  14,294,960  
Ghana  152,490  
Greece  672,520  
Grenada  29,325  
Guatemala  140,760  
Guinea  29,325  
Guinea -Bissau  29,325  
Guyana  29,325  
Haiti 29,325  
Honduras  76,245  
Hong Kong, China  5,157,290  
Hungary  1,030,285  
Iceland  60,605  
India 4,463,265  
Indonesia  1,800,555  
Ireland  1,955,000  
Israel  832,830  
Italy 5,436,855  
Jamaica  52,785  
Japan  8,345,895  
Jordan  164,220  
Kazakhstan  639,285  
Kenya  121,210  
Korea, Republic of  5,947,110  
Kuwait, the State of  694,025  
Kyrgyz Republic  39,100  
Lao People's Democratic Republic  29,325  
Latvia  156,400  
Lesotho  29,325  
Liberia  29,325  
Liechtenstein  62,560  
Lithuania  310,845  
Luxembourg  848,470  
Macao, China  303,025  
Madagascar  29,325  
Malawi  29,325  
Malaysia  2,084,030  
Maldives  29,325  
Mali 29,325  
Malta  125,120  
Mauritania  29,325  
Mauritius  58,650  
Mexico  3,503,360  
Moldova, Republic of  37,145  
Mongolia  54,740  
Montenegro  29,325  
Morocco  351,900  
Mozambique  62,560  
Myanmar  91,885  
Namibia  56,695  WT/BFA/W/450  
 
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  Country  Net Assessed  
Contributions  
Nepal  41,055  
Netherlands  5,821,990  
New Zealand  451,605  
Nicaragua  48,875  
Niger  29,325  
Nigeria  785,910  
Norway  1,530,765  
Oman  391,000  
Pakistan  340,170  
Panama  254,150  
Papua New Guinea  64,515  
Paraguay  113,390  
Peru 416,415  
Philippines  660,790  
Poland  2,107,490  
Portugal  793,730  
Qatar  791,775  
Romania  666,655  
Russian Federation  4,418,300  
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  2,490,670  
Senegal  43,010  
Seychelles   29,325  
Sierra Leone  29,325  
Singapore  4,723,280  
Slovak Republic  764,405  
Slovenia  308,890  
Solomon Islands  29,325  
South Africa  1,051,790  
Spain  3,800,520  
Sri Lanka  158,355  
Suriname  29,325  
Sweden  2,142,680  
Switzerland  3,554,190  
Chinese Taipei  3,000,925  
Tajikistan  29,325  
Tanzania  91,885  
Thailand  2,367,505  
The former Yugoslav Republic of Macedonia  52,785  
Togo 29,325  
Tonga  29,325  
Trinidad and Tobago  115,345  
Tunisia  217,005  
Turkey  1,998,010  
Uganda  54,740  
Ukraine  746,810  
United Arab Emirates  2,774,145  
United Kingdom  7,366,440  
United States of America  21,968,335  
Uruguay  119,255  WT/BFA/W/450  
 
- 71 - 
 
 
  Country  Net Assessed  
Contributions  
Vanuatu  29,325  
Venezuela, Bolivarian Republic of  705,755  
Viet Nam  1,114,350  
Yemen  99,705  
Zambia  86,020  
Zimbabwe  48,875  
TOTAL  195,500,000  
 
Table 76 Contributions from Observers in 201 7 – (in CHF)  
Observers  2017  
Contribution  
Algeria  29,325  
Andorra  29,325  
Azerbaijan  29,325  
Bahamas  29,325  
Belarus  29,325  
Bhutan  29,325  
Bosnia and Herzegovina  29,325  
Comoros  29,325  
Equatorial Guinea  29,325  
Ethiopia  29,325  
Holy See  29,325  
Iran 29,325  
Iraq 29,325  
Lebanese Republic  29,325  
South Sudan  1,527  
Serbia  29,325  
Somalia  29,325  
Sudan  29,325  
Syrian Arab Republic  29,325  
Timor -Leste  29,325  
Uzbekistan  29,325  
TOTAL  588,027  
 WT/BFA/W/450  
 
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  5.5.2   Schedule B  Statement of Outstanding C ontributions as  at 31 December  2017 – 
Members  
Table 77 Outstanding c ontributions as at 31 December  2017 – Member s – (in CHF)  
Members' Contributions 
(Swiss Francs)  Cate-
gory 1974 -
2015  2016  2017  TOTAL  Advance  
Afghanistan    -  -  -  -  -  
Albania    -  -  -  -  -  
Angola    -  12,841  496,570  509,411  -  
Antigua and Barbuda   I  233  29,325  29,325  58,883  -  
Argentina    -  -  -  -  1  
Armenia    -  -  -  -  -  
Australia    -  -  -  -  2,680,305  
Austria    -  -  -  -  1,931,540  
Bahrain, Kingdom of    -  -  -  -  -  
Bangladesh    -  -  297,160  297,160  -  
Barbados    -  -  -  -  -  
Belgium    -  -  -  -  -  
Belize    -  -  29,325  29,325  -  
Benin    -  -  -  -  1,170  
Bolivia, Plurinational State of    -  -  -  -  -  
Botswana    -  -  -  -  -  
Brazil    -  -  -  -  -  
Brunei Darussalam    -  -  -  -  -  
Bulgaria    -  -  -  -  -  
Burkina Faso    -  2,797  31,280  34,077  -  
Burundi   III  492,306  29,325  29,325  550,956  -  
Cabo Verde    -  -  24,075  24,075  -  
Cambodia    -  -  -  -  -  
Cameroon   I  29,808  70,380  64,515  164,703  -  
Canada    -  -  -  -  -  
Central African Republic   III  944,215  29,325  29,325  1,002,865  -  
Chad (2)    726,639  48,875  44,965  820,479  -  
Chile   -  -  -  -  -  
China    -  -  -  -  -  
Colombia    -  -  -  -  19,253  
Congo    -  88,282  91,885  180,167  -  
Costa Rica    -  -  -  -  25,059  
Côte d'Ivoire (2)    167,044  101,660  105,570  374,274  -  
Croatia    -  -  -  -  -  
Cuba   -  -  -  -  1  
Cyprus    -  -  -  -  -  
Czech Republic    -  -  -  -  -  
Democratic Republic of the 
Congo    -  -  -  -  -  
Denmark    -  -  -  -  -  
Djibouti   III  187,573  29,325  29,325  246,223  -  
Dominica   I  -  29,325  29,325  58,650  -  
Dominican Republic    -  -  176  176  -  
Ecuador    -  -  -  -  -  
Egypt    -  -  -  -  -  
El Salvador    -  60,858  74,290  135,148  -  
Estonia    -  -  -  -  175,950  
Eswatini    -  -  -  -  -  
European Union (1)    -  -  -  -  -  
Fiji   -  -  -  -  -  WT/BFA/W/450  
 
- 73 - 
 
 
  Members' Contributions 
(Swiss Francs)  Cate-
gory 1974 -
2015  2016  2017  TOTAL  Advance  
Finland    -  -  -  -  -  
France    -  -  -  -  -  
Gabon    -  -  20,040  20,040  -  
Georgia    -  -  -  -  68,425  
Germany    -  -  -  -  -  
Ghana    -  -  -  -  1,561  
Greece    -  -  -  -  -  
Grenada    -  -  25,015  25,015  -  
Guatemala    -  -  -  -  1  
Guinea   I  28,850  29,325  29,325  87,500  -  
Guinea -Bissau (2)    590,813  29,325  29,325  649,463  -  
Guyana    -  -  -  -  22,260  
Haiti   -  -  -  -  -  
Honduras    -  -  -  -  5,032  
Hong Kong, China    -  -  -  -  -  
Hungary    -  -  -  -  1,000,935  
Iceland    -  -  -  -  62,560  
India   -  -  -  -  -  
Indonesia    -  -  -  -  -  
Ireland    -  -  -  -  -  
Israel    -  -  -  -  -  
Italy   -  -  -  -  -  
Jamaica    -  -  -  -  -  
Japan    -  -  -  -  -  
Jordan    -  -  -  -  -  
Kazakhstan    -  -  -  -  -  
Kenya    -  -  3,313  3,313  -  
Korea, Republic of    -  -  -  -  -  
Kuwait, the State of    -  -  -  -  -  
Kyrgyz Republic    -  -  -  -  4,274  
Lao People's Democratic 
Republic    -  -  -  -  -  
Latvia    -  -  -  -  -  
Lesotho    -  79  29,325  29,404  -  
Liberia    -  -  5,262  5,262  -  
Liechtenstein    -  -  -  -  -  
Lithuania    -  -  -  -  -  
Luxembourg    -  -  -  -  -  
Macao, China    -  -  -  -  -  
Madagascar    -  -  -  -  579  
Malawi    -  -  8,716  8,716  -  
Malaysia    -  -  -  -  -  
Maldives    -  -  -  -  -  
Mali   -  -  -  -  35,435  
Malta    -  -  -  -  -  
Mauritania  III  370,442  29,325  29,325  429,092  -  
Mauritius    -  -  -  -  -  
Mexico    -  -  -  -  -  
Moldova, Republic of    -  -  -  -  37,145  
Mongolia    -  -  -  -  -  
Montenegro    -  -  -  -  29,325  
Morocco    -  -  -  -  -  
Mozambique    -  -  62,541  62,541  -  
Myanmar    -  -  -  -  2,229  
Namibia    -  -  -  -  -  WT/BFA/W/450  
 
- 74 - 
 
 
  Members' Contributions 
(Swiss Francs)  Cate-
gory 1974 -
2015  2016  2017  TOTAL  Advance  
Nepal    -  -  132  132  -  
Netherlands    -  -  -  -  -  
New Zealand    -  -  -  -  -  
Nicaragua    -  -  -  -  -  
Niger   III  477,925  29,325  29,325  536,575  -  
Nigeria    -  146,481  785,910  932,391  -  
Norway    -  -  -  -  -  
Oman    -  -  -  -  -  
Pakistan    -  -  97  97  -  
Panama    -  -  -  -  11  
Papua New Guinea    -  -  -  -  -  
Paraguay    -  7,882  113,390  121,272  -  
Peru   -  -  -  -  8,267  
Philippines    -  -  -  -  -  
Poland    -  -  -  -  -  
Portugal    -  -  -  -  778,090  
Qatar    -  -  -  -  -  
Romania    -  -  -  -  -  
Russian Federation    -  -  -  -  -  
Rwanda   I  -  29,325  29,325  58,650  -  
Saint Kitts and Nevis    -  -  942  942  -  
Saint Lucia    -  -  -  -  -  
Saint Vincent and the 
Grenadines    -  13,069  29,325  42,394  -  
Samoa    -  -  -  -  15  
Saudi Arabia, Kingdom of    -  -  -  -  -  
Senegal    -  1,385  43,010  44,395  -  
Seychelles    -  -  -  -  -  
Sierra Leone   III  580,871  29,325  29,325  639,521  -  
Singapore    -  -  -  -  -  
Slovak Republic    -  -  -  -  -  
Slovenia    -  -  -  -  -  
Solomon Islands    -  -  29,325  29,325  -  
South Africa    -  -  -  -  -  
Spain    -  -  -  -  -  
Sri Lanka    -  -  -  -  -  
Suriname    -  79  29,325  29,404  -  
Sweden    -  -  -  -  -  
Switzerland    -  -  -  -  -  
Tajikistan    -  -  -  -  -  
Tanzania    -  5,415  91,885  97,300  -  
Chinese Taipei    -  -  -  -  -  
Thailand    -  -  -  -  2,390,965  
The former Yugoslav Republic 
of Macedonia    -  -  -  -  32,785  
The Gambia (2)    133,615  29,325  29,325  192,265  -  
Togo   -  20  29,325  29,345  -  
Tonga    -  -  15  15  -  
Trinidad and Tobago    -  -  -  -  -  
Tunisia    -  -  -  -  -  
Turkey    -  -  -  -  -  
Uganda   I  37,977  54,739  54,740  147,456  -  
Ukraine    -  -  -  -  -  
United Arab Emirates    -  -  -  -  -  
United Kingdom    -  -  -  -  -  WT/BFA/W/450  
 
- 75 - 
 
 
  Members' Contributions 
(Swiss Francs)  Cate-
gory 1974 -
2015  2016  2017  TOTAL  Advance  
United States of America    -  -  21,968,279  21,968,279  -  
Uruguay    -  -  -  -  -  
Vanuatu    -  -  138  138  -  
Venezuela, Bolivarian 
Republic of   III  1,549,292  711,620  705,755  2,966,667  -  
Viet Nam    -  -  -  -  -  
Yemen    -  -  -  -  -  
Zambia    -  458  86,020  86,478  -  
Zimbabwe    -  -  48,818  48,818  -  
GRAND TOTAL  13 6,317,603  1,678,820  25,782,354  33,778,777  9,313,173  
1 European Union  Member States pay contributions on an individual basis i.e. there is no global 
assessment of the EU's contributions.  
2 Member under payment scheme.  
3 There are 13 Members under administrative measures.  
 
5.5.3   Schedule C  Statement of Outstanding Contributions as 31  December  2017 – 
Observers  
Table 78 Outstanding contributions as 31  Dece mber  2017 - Observers  
Observers 
Contributions 
(Swiss Francs)  Cat 2001 -2015  2016  2017  TOTAL  Advanc
e 
Algeria    -    -    -    -    -    
Andorra    -    -    -    -    -    
Azerbaijan    -    -    -    -    -    
Bahamas    -    -    343  343  -    
Belarus    -    -    -    -    -    
Bhutan    -    -    -    -    29,325  
Bosnia and 
Herzegovina    -    -    -    -    -    
Comoros    -    -    16,617  16,617  -    
Equatorial Guinea    -    -    -    -    -    
Ethiopia    -    -    -    -    -    
Holy See    -    -    -    -    29,325  
Iran   -    689  29,325  30,014  -    
Iraq   -    -    -    -    -    
Lebanese Republic    -    -    29,325  29,325  -    
Libya III 84,546  29,325   n/a  113,871  -    
Sao Tome And 
Principe  III 306,529   n/a   n/a  306,529  -    
Serbia    -    -    -    -    -    
Somalia    -    2,009  29,325  31,334  -    
South Sudan    -    -    1,527  1,527  -    
Sudan   -    -    -    -    -    
Syrian Arab Republic    -    -    29,325  29,325  -    
Timor -Leste    -    2,009  29,325  31,334  -    
Uzbekistan    -    -    -    -    -    
TOTAL  2 391,075  34,032  165,112  590,219  58,650  
1  There are two Observers under Administrative M easures . 
   
  WT/BFA/W/450  
 
- 76 - 5.5.4   Schedule D Voluntary contributions received in 2017 
Table 79 WTO Trust Funds - Voluntar y contributions received in 201 7 per donor and by fund  
Funds  
  
  
  
  
  
  
  
Donors  
Doha Development Agenda 
Gglobal Trust Fund 
STDF Standards and T rade 
Development F acility  
Enhanced Integrated 
Framework – Executive 
Secretariat  
Mission Internship 
Programme  
Netherland T rainees  
China LDCs and Accessions 
Programme  
Trade F acilitation 
Agreement Faci lity 
Data Set on Trade in 
Services  
11th Ministerial C onference 
- LDCs  
China Development 
Cooperation Research Fund  
TOTAL  
Australia    552,079              327,890    879,969  
Austria  215,200                    215,200  
Canada    144,237              78,616    222,853  
China (People's Republic)            473,000  984,000      520,300  1,977,300  
Estonia  21,520                    21,520  
Finland                       -    
France  455,600  57,300    683,400              1,196,300  
Germany  1,139,000  171,900                  1,310,900  
Ireland    163,650    163,650          54,550    381,850  
Japan  233,669                    233,669  
Korea  331,100                    331,100  
Liechtenstein  40,000                    40,000  
Lithuania  20,273                    20,273  
Netherlands  490,000  875,000      875,000            2,240,000  
New Zealand                  20,877    20,877  
Norway  722,022  481,348              96,270    1,299,639  
Sweden  1,929,722  1,138,803              60,587    3,129,112  
Switzerland                  50,000    50,000  
United States  571,172  439,475                  1,010,647  
European Union    654,600          233,200  93,773  91,120    1,072,693  
UNOPS      3,730,702                3,730,702  
 Total  6,169,278  4,678,392  3,730,702  847,050  875,000  473,000  1,217,200  93,773  779,910  520,300  19,384,605  
 
 
   
  WT/BFA/W/450  
 
- 77 - 5.5.5   Schedule E  Balance d ue to donors as 31  December  2017 
Table 80 WTO Trust funds - Balance due to donors as 31  December  2017 
Funds  
Doha Development 
Agenda Global Trust Fund  
Enhanced Integrated 
Framework – Executive 
Secretariat  
French -Irish Mission 
Internship Programme  
Independent Entity  
Program Support Fund  
Netherlands Trainee 
Program  
China Development 
Cooperation, Research 
Fund  
Trade Faci litation 
Agreement Facility  
STDF Standards and 
Trade Development 
Facility  
China LDCs and 
Accessions Programme  
Data Set on Trade in 
Services by Sector and 
Mode of Supply  
11th Ministerial 
Conference  
Total    
  
  
  
  
  
Donors  
Australia  1,254,662              738,937  391,004      149,658  2,534,260  
Austria  345,214              193,146          538,361  
Canada  165,850                682,092      37,710  885,652  
China              285,553  933,812    399,017      1,618,382  
Chinese Taipei  35,479              30,822  111,155        177,456  
Denmark  356,172                387,923        744,095  
Estonia                            
European Union                      97,347    97,347  
Finland  83,623              160,393  256,740      24,789  525,545  
France  945,748    795,316            76,757        1,817,822  
Germany  2,179,641                347,651        2,527,292  
Ireland      217,608          31,640  354,527      28,444  632,219  
Japan  515,695                95,287        610,982  
Korea (Republic of)  646,062                        646,062  
Liechtenstein  74,087                        74,087  
Lithuania                          0 
Luxembourg                          0 
Netherlands  442,144          106,536      1,536,538        2,085,218  
New Zealand                43,340        10,910  54,250  
Norway  2,467,293              4,082,665  826,861      47,264  7,424,083  
Sweden  2,474,586                2,130,505      31,572  4,636,664  
Switzerland  194,999                74,387      26,259  295,645  
United Kingdom                327,966          327,966  
United States  1,418,083              39,578  397,084        1,854,745  
Organizations:                          0 
UNOPS    476,662                      476,662  
Others:                          0   
  WT/BFA/W/450  
 
- 78 - Funds  
Doha Development 
Agenda Global Trust Fund  
Enhanced Integrated 
Framework – Executive 
Secretariat  
French -Irish Mission 
Internship Programme  
Independent Entity  
Program Support Fund  
Netherlands Trainee 
Program  
China Development 
Cooperation, Research 
Fund  
Trade Faci litation 
Agreement Facility  
STDF Standards and 
Trade Development 
Facility  
China LDCs and 
Accessions Programme  
Data Set on Trade in 
Services by Sector and 
Mode of Supply  
11th Ministerial 
Conference  
Total    
  
  
  
  
  
Donors  
Bureau Veritas International        17,626                  17,626  
Cotecna International Ltd.        17,532                  17,532  
Inchape Testing Services 
International Ldt.        17,626                  17,626  
Inspectorate Griffith Ltd.        17,627                  17,627  
Société Général de Surveillance        17,466                  17,466  
WTO Members          1,023,582                1,023,582  
Total  13,599,338  476,662  1,012,924  87,876  1,023,582  106,536  285,553  6,582,297  7,668,513  399,017  97,347  356,606  31,696,252  
 
 
 
 
 
 
 WT/BFA/W/450  
 
- 79 - 
 
  5.5.6   Schedule F  World Trade Organization – Program Support Fund  
Table 81 WTO Program Support Fund 
  2017  2016  
Opening Balance  996,324  913,671  
Income of the year  2,394,691  2,282,226  
Retrocession to other organizations  -211,550  -203,904  
Total income  3,179,465  2,991,994  
Salary costs  -1,951,893  -1,786,269  
Share of certain secretariat cost and 
other costs  -203,989  -209,401  
Total costs  -2,155,882  -1,995,670  
Closing balance  1,023,582  996,324  
Table 82 WTO Program Support  Fund actual expenditure and overheads  
Trust Funds  Actual expenditure CHF  Overheads CHF (13% of actual 
expenses)  
  2017  2016  2017  2016  
Doha Development Agenda Global 
Trust Fund  7,415,599  6,879,174  964,028  1,000,110  
Enhanced Integrated 
Framework - Executive Secretariat  3,628,335  3,553,152  471,684    487,203  
Mission Internship Programme    692,959    877,498  90,085    107,436  
Ministerial Conference - LDCs   496,073  -   79,426  64,489            -  
Netherlands Trainee Programme    841,651    843,471  109,415   96,593  
Trade Facilitation Agreement 
Facility    518,600    404,418  67,418   32,352  
Trade Facilitation - National Needs 
Assessments          
Trade Facilitation - LDCs         
Standards and Trade Development 
Facility  4,007,216  4,543,202  520,938    521,566  
China LDCs and Accesions ' 
Programme    560,244    274,147  72,832   55,556  
Data Set on Trade in Services by 
Sector and Made of Supply      97,460   -  12,670  -  
China Development Cooperation 
Research Fund    207,541   -  26,980  -  
Other extra budgetary funds:  IE – 
Pre Shipment inspection  80  80     10            -  
Evaluation of WTO Trust Fund 
Activities   -    259,950  -  -  
Total  18,465,758  17,555,58 6  2,400,549  2,300,815  
 
 WT/BFA/W/450  
 
- 80 - 
 
  Table 83 Overheads shared with other Organizations  
Overheads shared with other organizations  Retrocession amount  
  2017  2016  
Income of the year (A)  2,394,691  2,282,226  
STDF - ITC 46,702   
STDF - FAO 43,129  117,724  
STDF - IICA 45,085  24,724  
STDF - OIRSA  1,097  - 
STDF - UNDP  7,279  10,766  
STDF – CAB International  2,287  - 
STDF - FEEDLATINA  17,795  9,036  
STDF - AFFA 33,880  12,050  
STDF - ISS - 3,760  
STDF - Panamerican Health Association  - 1,370  
STDF - UNIDO  - - 
STDF - Erasmus University Rotterdam  4,680  9,930  
STDF - International Cocoa Organization  3,689  8,036  
TIFES - UNDP  - - 
DDAGTF - UNESCAP  1,746  519 
DDAGTF - PIFS 2,833  4,004  
TCLAP - UNESCAP  1,348  1,985  
Total Retrocession (B)  211,550  203,904  
Net Income - Programme Support Fund (A -B) 
(Overhead charges - Retrocession)  2,183,141  2,078,322  
 
 
__________