RESTRICTED  
  
WT/BFA/W/ 392/Rev.1  
5 August  2016 
(16-3769) Page: 1/90 
Committee on Budget, Finance and Administration   
  
 WT/BFA/W/XXX  
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WORLD TRADE ORGANIZA TION  
2015 FINANCIAL PERFORMANC E REPORT  
 
Revision  
  WT/BFA/W/392/Rev.1  
 
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  EXECUTIVE SUMMARY OF 2015 
1. The W orld Trade Organization (W TO) has 162 M embers at the end of 2015,  accounting fo r 
approximately 97  per cent of Global T rade. Two new Members , Seychelles and Kazakhstan formally 
acceded to the WTO in 2015 .  
2. The Nairobi Package contains a series o f six Ministerial Decisions on Agriculture, Cotton and 
issues related to Least -Developed C ountries. These include a commitment to abolish export 
subsidi es for farm exports, which  the Director -General , Roberto Azevê do, hailed as th e “most 
significant outcome on Agriculture” in the O rganization’s 20 -year history . 
3. The 2015 structure of the financial statements is based on  International Public Sector 
Accounti ng Standards (IPSAS). These Standards aim to improve the quality of general purpose 
financial reporting by public sector entities, leading to better informed assessments of the resourc e 
allocation decisions made by G overnments, thereby increasing transpare ncy and accountability. The 
adoption of IPS AS generated the disclosure of the WTO Pension Plan benefit and After Service 
Health Insurance1 liabilities . This has had a  considerabl e effect on  the financial situation of the WTO 
Secretariat. The WTO Pension Plan Liabilities and Pension Assets are expressed separately in order 
to better disclose information to Third P arties.  
4. The 2015 amendment of the Pension Plan  increased the commuted portion of the retirement 
pension lump -sum. This modification allowed , for th e first time since the IPSAS was introduced , to 
have pension actuarial revenues higher  than pension actuarial costs. Annual ASHI costs , on the 
contrary , increased compared to the previous year. In order to reduce the volatility of the actuarial 
difference across the year s, a new calculation method of the discount rate was intro duced and 
aligned to the Swiss S tandard set by the Swiss Chamber of Pension Fund Experts .  
5. The b udgetary expenditure amounted to CHF  192.6  million in 2015 compared to an approved 
budget of CHF  197.2  million. The b udgetary savi ngs amounted to a total of CHF  4.6 million  and 
emanated from the following parts  of the budget :  
o Savings of about CHF 4  million have been achieved in part A of the budget on 
personnel related costs. This was mainl y due to a high number of  vacant posts  in the 
first semester of 2015. Part of these  savings were used to provide additional human 
capital  to the Dispute Settlement area and to the Appellate Body. Additional savings 
were generated by lower expenditure for t ranslation and interpretation. The 
possibility to generate high savings on personnel costs becomes , year by year , less 
likely due to the  fact that most of the vacant posts have been  filled and transferred 
to the Dispute S ettlement area and due to the incre ased promptness  of the 
recruitment process . 
o Savings of about  CHF 4  million have been achieved in part B mainly on postal  and 
communication costs in addition to savings generated in the area of travel, rental 
and leasing of equipment  and security  equipment.  
o An allocation of CHF 3.4 million for the Building Renovation Fund was charged to 
part C of the Budget , which partially compensated the s avings on the previous parts.  
6. The 2015 Members' contributions amounted to CHF  195.6  million , including the contribution s 
of two new Member s and miscellaneous income amounting to CHF  3.2 million. The miscellaneous 
income is higher than the CHF  1.7 million initially budgeted due to a surplus generated by the 
International Trade Center (ITC) for the B iennium 2011 -2012 which was returned to the WTO in 
2015. The collection of Member s' contributions in 2015 represented  92% of the assessed 
contributions. The provision for contributions in arrears decreased by CHF 1 million.  
7. The budg etary savings of CHF 4.6  million combined with a higher than expected level of 
miscellaneous income and the contribution s for Seychelles and Kazakhstan , all totalling 
CHF 1.6 million , led to a positive budgetary result  of CHF 6.2  million for 2015. The b udgetary result 
is however only an intermediate stag e to assess the overall performance of the WTO. Due to the 
introduction of IPSAS, the financial result and not the budgetary result has to be considered to 
evaluate the yearly performance of the Secretariat.  
                                                
1 After Service Health Insurance refers to the health coverage system of retirees.  WT/BFA/W/392/Rev.1  
 
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  8. For 2015, the financial result o btained accordin g to IPSAS, led  to a deficit of CHF  6.6 million , 
diverging from  the positive budget result. The variance  between the Budget Result and Financial 
Deficit derived  from the negative impact of the actuarial cost of ASHI benefits , being  CHF 15 million , 
and othe r accounting adjust ments related to the IPSAS implementation , e.g.: depreciation etc. 
9. The Doha Development Agenda Global Trust Fund (DDAGTF) along with several other trust 
funds financed technical assistance programmes and training activ ities for Developin g and Least 
Developed C ountries. For example in 2015, under the framework of these trust funds, e -learning 
courses in thr ee languages were provided to 7,523 participants and  costs related to 16 interns from 
developing and Least Developed C ountries were cov ered. Additionally, over 100 general and 
specialized Technical A ssistance, training and capacity building activities were organized. The 
balance of the DDAGTF amounted to CHF  16.4 million as at 31 December 2015.   WT/BFA/W/392/Rev.1  
 
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  TABLE OF CONTENTS  
EXECUTIVE SUMMARY OF  2015  ................................ ................................ ...........................  2 
1   INTRODUCTION  ................................ ................................ ................................ .............  9 
1.1   Budget  ................................ ................................ ................................ ........................  10 
1.2   Outstanding contributions  ................................ ................................ ..............................  10 
1.3   Budget Breakdown  ................................ ................................ ................................ ....... 11 
1.4   Building capacity  ................................ ................................ ................................ ..........  12 
1.5   Budget and financial results  ................................ ................................ ...........................  13 
2   BUDGET PERFORMANCE  ................................ ................................ ...............................  13 
2.1   2015 Income  ................................ ................................ ................................ ...............  13 
2.2   2015 Consolidated WTO Budget Performance  ................................ ................................ ... 15 
2.3   2015 WTO Secretariat Budget Performance  ................................ ................................ ..... 16 
2.3.1    Part A - Staffing Resources  ................................ ................................ .........................  17 
2.3.2    Part B - Other Resour ces ................................ ................................ ............................  19 
2.3.3    Part C - Operating Funds and ITC  ................................ ................................ ................  21 
2.3.4    Proposed transfers between budgetary sections  ................................ .............................  22 
2.4   2015 Appellate Body and its Secretariat budget perfo rmance  ................................ .............  23 
2.4.1    Part A - Staffing Resources  ................................ ................................ .........................  24 
2.4.2    Part B - Other Resources  ................................ ................................ ............................  25 
2.4.3    Part C - Operating Funds and ITC  ................................ ................................ ................  25 
2.5   Proposed transfers between budgetary sections  ................................ ...............................  25 
2.6   Expenditure by Key Outputs and Projects  ................................ ................................ ........  26 
2.6.1    Dispute Settlement  ................................ ................................ ................................ .... 26 
2.6.2    Information Technology  ................................ ................................ ..............................  28 
2.6.3    Technical Assistance  ................................ ................................ ................................ .. 29 
2.6.4    Security  ................................ ................................ ................................ ....................  29 
2.6.5    Building Maintenance  ................................ ................................ ................................ . 30 
2.6.6    Documents Reproduction  ................................ ................................ ............................  30 
2.6.7    Human Resources Training Programme  ................................ ................................ ........  31 
2.6.8    Outreach  ................................ ................................ ................................ ..................  31 
3   TRUST FUNDS PERFORMANCE  ................................ ................................ ......................  33 
3.1   Doha Development Agenda Global Trust Fund  ................................ ................................ .. 33 
3.2   General WTO -related technical assistance and training  ................................ ......................  35 
3.3   Specialized and advanced technical assistance training  ................................ .....................  35 
3.4   WTO Chairs Programme (Academic support)  ................................ ................................ .... 35 
3.5   Trainee programmes and internships  ................................ ................................ ..............  36 
3.6   E-learning ................................ ................................ ................................ ....................  36 
3.7   Evaluation of WTO Trust funds Activities (TEVAL)  ................................ .............................  37 
3.8   The Frenc h Irish Internship Programme (TIMM1)  ................................ ..............................  37 
3.9   Netherlands Trainee Programme (TNL05)  ................................ ................................ ........  38 WT/BFA/W/392/Rev.1  
 
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  3.10   Trade Facilitation Agreement Facility (TTFAF)  ................................ ................................ . 39 
3.11   Ministerial Conf erence – Participation of Least -Developed Countries  ................................ .. 39 
3.12   Standards and Trade Development Facility (TWB01)  ................................ .......................  40 
3.13   China LDCs and Accessions Programme (TCLAP)  ................................ .............................  41 
3.14   Enhanced Integrated Framework Executive Secretariat (TIFES)  ................................ ........  41 
3.15   Independent Entity – Pre-Shipment Inspection – Deposits (T0013)  ................................ ... 42 
3.16   Programme Support Fund (EPSF1)  ................................ ................................ ................  42 
4   FINANCIAL STATEMENTS  ................................ ................................ .............................  44 
4.1   Management letter of representation  ................................ ................................ ..............  44 
4.2   Opinion of the external auditor  ................................ ................................ .......................  45 
BUNDESRECHNUNGSHOF -SUPREME AUD IT  INSTITUTION OF G ERMANY  .........................  45 
4.3   Financial statements  ................................ ................................ ................................ ..... 46 
4.4   Notes to the financial statements  ................................ ................................ ...................  50 
4.4.1    Note 1 Accounting policies  ................................ ................................ ..........................  50 
4.4.2    Note 2 Financial risks policy  ................................ ................................ ........................  54 
4.4.3    Note 3 Changes in the financial statements and relevant events in 2015  ..........................  55 
4.4.4    Note 4 Cash and cash equivalents  ................................ ................................ ................  56 
4.4.5    Note 5 Receivables  from Members, Observers and Donors  ................................ ..............  56 
4.4.6    Note 6 Inventories  ................................ ................................ ................................ ..... 57 
4.4.7    Note 7 Other receivables  ................................ ................................ ............................  57 
4.4.8    Note 8 Advances and P repayments  ................................ ................................ ..............  58 
4.4.9    Note 9 Property, Plant and Equipment  ................................ ................................ ..........  58 
4.4.10    Note 10 Intangible Assets  ................................ ................................ .........................  60 
4.4.11    Note 11  Accounts payable  ................................ ................................ ......................  60 
4.4.12    Note 12  Assessed contributions paid in advance  ................................ ........................  61 
4.4.13    Note 13 Voluntary contributions refundable to donors  ................................ ...................  61 
4.4.14    Note 14 Employee benefits  ................................ ................................ ........................  62 
4.4.15   Note 15 Loan and Grant  ................................ ................................ ............................  66 
4.4.16    Note 16 Working Capital fund  ................................ ................................ ....................  66 
4.4.17    Note 17 Funds  ................................ ................................ ................................ .........  67 
4.4.18    Note 18 Revenue  ................................ ................................ ................................ ..... 67 
4.4.19    Note 19 Expenses  ................................ ................................ ................................ .... 68 
4.4.20    Note 20 Segment reporting  ................................ ................................ .......................  70 
4.4.21    Note 21 Reconciliation with Budget  ................................ ................................ ............  71 
4.4.22    Note 22 Key management personnel  ................................ ................................ ..........  72 
4.4.23    Note 23 Contingent assets and contingent liabilities  ................................ .....................  72 
4.4.24    Note 24 Commitments  ................................ ................................ ..............................  73 
4.4.25    Note 25 Events after the reporting date  ................................ ................................ ...... 73 
4.5   Schedules  ................................ ................................ ................................ ....................  74 
4.5.1    Schedule A 2015 Statement of Contributions from Member States 2015  ...........................  74 
4.5.2    Schedule B 2014 Early payment encouragement scheme  ................................ ................  78  WT/BFA/W/392/Rev.1  
 
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  4.5.3    Schedule C Statement of Outstanding Contributions as 31  December  2015 – Members  ...... 80 
4.5.4    Schedule D Statement of Outstanding Contributions as 31  December  2015 –Observers  ...... 83 
4.5.5    Schedule E Volu ntary contributions received in 2015 and 2014 per donor and by fund  ....... 84 
4.5.6    Schedule F Balance due to donors as 31  December  2015 and 2014  ................................ .. 86 
4.5.7    Schedule G Interest earned in 2014  ................................ ................................ .............  88 
4.5.8    Schedule H World Trade Organization – Program Support Fund  ................................ ....... 89 
Figures  
Figure 1 Budget Evolution (MCHF)  ................................ ................................ ..........................  10 
Figure 2 Outstanding Contributions (MCHF)  ................................ ................................ .............  11 
Figure 3 WTO 2015 Budget by part  ................................ ................................ ........................  11 
Figure 4 Key  donors to Trust Funds since 2000  ................................ ................................ ........  12 
Figure 5 Trust Funds Contribution (MCHF)  ................................ ................................ ...............  13 
Figure 6 2015 Expenditure Staffing Resources (k CHF) ................................ ..............................  17 
Figure 7 Comparison Budget/Expenditure for regular staff (kCHF)  ................................ ..............  17 
Figure 8 Distribution of Temporary Assistance (kCHF)  ................................ ...............................  18 
Figure 9 Comparison Budget/Expenditure for Temporary Assistance (kCHF)  ................................  18 
Figure 10 Comparison Budget/Expenditure for General  Services (kCHF)  ................................ ...... 19 
Figure 11 Comparison Budget/Expenditure for Travel and Hospitality (kCHF)  ...............................  20 
Figure 12 Comparison Budget/Exp enditure for Implementing Partners (kCHF)  .............................  20 
Figure 13 Comparison Budget/Expenditure for Capital Expenditure (kCHF)  ................................ .. 21 
Figure 14  Comparison Budget/Expenditure for Financial Expenditure (kCHF)  ...............................  21 
Figure 15 Comparison Budget/Expenditure for Operating Funds and ITC (kCHF)  ..........................  22 
Figure 16 Expenditure by Key Outputs and Projects (kCHF)  ................................ .......................  26 
Figure 17 Allocation of DDAGTF Resources 2015  ................................ ................................ ...... 33 
Tables  
Table 1 WTO Income (kCHF)  ................................ ................................ ..............................  13 
Table 2 2015 Miscellaneous Income (kCHF)  ................................ ................................ ..........  14 
Table 3 2015 Consolidated  WTO Budget Performance (WTO Secretariat and Appellate Body 
Secretariat) (kCHF)  ................................ ................................ ................................ ...........  15 
Table 4 2015 Consolidated Expenditure (kCHF)  ................................ ................................ ..... 16 
Table 5 2015 WTO Secretariat Budget Performance (kCHF)  ................................ ....................  16 
Table 6 Proposed Transfers between Sections of the 2015 WTO Budget (kCHF)  ........................  23 
Table 7 2015 Appellate Body and its Secretariat Budget Performance (kCHF)  ...........................  24 
Table 8 ABOF expenditure (kCHF)  ................................ ................................ .......................  25 
Table 9 Proposed Transfers between Sections of the 2015 Appellate Body and its Secretariat 
Budget (kCHF)  ................................ ................................ ................................ ..................  25 
Table 10 Dispute Settlement Expenditure – Panels (kCHF)  ................................ .....................  26 
Table 11 Dispute Settlement Expenditure – Appeals (kCHF)  ................................ ...................  27 
Table 12 Information Technology Expenditure (kCHF)  ................................ ............................  28 
Table 13 Technical Assistance Related Training Courses by Expenditure Line (kCHF)  .................  29 
Table 14 Security Expenditure (kCHF)  ................................ ................................ .................  29 
Table 15 Building Maintenance Expenditure (kCHF)  ................................ ...............................  30 WT/BFA/W/392/Rev.1  
 
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  Table 16 Documents Reproduction and Distribution Expenditure (kCHF)  ................................ .. 30 
Table 17 Human Resources Training Expenditure (kCHF)  ................................ .......................  31 
Table 18 Public Forum Expenditure (kCHF)  ................................ ................................ ...........  31 
Table 19 WTO@20 ( kCHF)  ................................ ................................ ................................ .. 32 
Table 20 Open Day (kCHF)  ................................ ................................ ................................ . 32 
Table 21 Doha Development Agenda Global Trust Fund (DDAGTF)  ................................ ..........  33 
Table 22 Number of participants who successfully completed an E -Learning course  ...................  37 
Table 23 The French Irish Internship Programme (TIMM1)  ................................ .....................  38 
Table 24 Netherlands Trainee Programme (TNL05)  ................................ ................................  39 
Table 25 Trade Facilitation Agreement Facility (TTFAF)  ................................ ..........................  39 
Table 26 Ministerial Conference – Participation of Least -Developed Countries (TMI10)  ...............  40 
Table 27 Standards and Trade Development Facility (TWB01)  ................................ ................  41 
Table 28 China LDCs and Accessions Programme (TCLAP)  ................................ ......................  41 
Table 29 Enhanced Integrated Framework Executive Secretariat (TIFES)  ................................ . 42 
Table 30 Independent Entity – Pre-Shipment Inspection – Deposits (T0013)  ............................  42 
Table 31. Programme Support Fund (EPSF1)  ................................ ................................ ........  43 
Table 32 Statement of Financial Position  ................................ ................................ ..............  46 
Table 33 Statement of Financial Performance  ................................ ................................ ....... 47 
Table 34 Statement of Changes in Net Assets/Equity  ................................ .............................  48 
Table 35 Cash Flow Statement (Indirect method)  ................................ ................................ .. 49 
Table 36 Level of P rovisions on Outstanding Contributions  ................................ .....................  51 
Table 37 Class of Assets  ................................ ................................ ................................ .... 52 
Table 38 Cash Situation  ................................ ................................ ................................ ..... 56 
Table 39 Receivables from Members and Observers  ................................ ..............................  56 
Table 40 Provision for Arrears from Members and Observers  ................................ ..................  56 
Table 41 Inventories per type  ................................ ................................ .............................  57 
Table 42 Inventories per storage  ................................ ................................ ........................  57 
Table 43 Inventory Adjustments and write o ffs ................................ ................................ ..... 57 
Table 44 Other Receivables  ................................ ................................ ................................  57 
Table 45 Prepayments  ................................ ................................ ................................ ....... 58 
Table 46 Building  ................................ ................................ ................................ ..............  58 
Table 47 Equipment  ................................ ................................ ................................ ..........  60 
Table 48 Intangible Assets  ................................ ................................ ................................ . 60 
Table 49 Payables  ................................ ................................ ................................ .............  60 
Table 50 Contributions paid in Advance by Members and Observers  ................................ ........  61 
Table 51 Voluntary contributions r efundable to donors (including advances)  .............................  61 
Table 52 Employee Benefits  ................................ ................................ ...............................  62 
Table 53 Actuarial Assumptions to define benefit oblig ations  ................................ ..................  64 
Table 54 Actuarial Assumptions to define benefit costs  ................................ ..........................  64 
Table 55 Financial assets – Pension  ................................ ................................ .....................  64 
Table 56 Defined benefit obligation - Pension  ................................ ................................ ....... 64 
Table 57 History of defined benefit obligations and experience gains and losses – Pension  .........  65  WT/BFA/W/392/Rev.1  
 
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  Table 58 Defined benefit obligation - ASHI ................................ ................................ ...........  65 
Table 59 History of defined benefit obligations and experience gains and losses - ASHI .............  65 
Table 60 Working Capital Fund Statement  ................................ ................................ ............  67 
Table 61 Funds  ................................ ................................ ................................ .................  67 
Table 62 Revenues from publications  ................................ ................................ ...................  68 
Table 63 Other Revenues  ................................ ................................ ................................ ... 68 
Table 64 Staff Expenditures including Trust Funds  ................................ ................................ . 69 
Table 65 Temporary Assistance including Trust Funds  ................................ ............................  69 
Table 66 Financial Performance by segments  ................................ ................................ ........  71 
Table 67 Reconciliation between budget result and financial result  ................................ ..........  72 
Table 68 Key management personnel  ................................ ................................ ..................  72 
Table 69 Contributions from Members in 2015  ................................ ................................ ...... 74 
Table 70 Contributions from Observers in 2015  ................................ ................................ .... 77 
Table 71 Interest to be dis tributed to Member States in 2016  ................................ .................  78 
Table 72 Outstanding contributions as 31  December  2015 – Member States .............................  80 
Table 73 Outstand ing contributions as 31  December  2015 - Observers  ................................ .... 83 
Table 74 WTO Trust funds - Voluntary contributions received in 2015 per donor and by fund ...... 84 
Table 75 WTO Trust funds - Voluntary contributions received in 2014 per donor and by fund ...... 85 
Table 76 WTO Trust funds - Balance due to donors as 31  December  2015 ................................  86 
Table 77 WTO Trust funds - Balance due to donors as 31st December  2014 ..............................  87 
Table 78 WTO Trust funds - Interest earned in 2014  ................................ .............................  88 
Table 79 WTO Program support fund  ................................ ................................ ...................  89 
Table 80 WTO Program support fund actual expenditure and overheads  ................................ .. 89 
Table 81 Overheads shared with other organizations  ................................ .............................  90 
 WT/BFA/W/392/Rev.1  
 
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  1  INTRODUCTION  
1.1.  In accordance with Financial Regula tion 32  of the World Trade Organization (WTO), the 
Director -General submits the Financ ial Performance R eport of the WTO for the financial reporting 
period spanning from  1 January  2015 through to 31 December  2015. The report is presented in 
Swiss Francs (CHF).  
1.2.  This Financial R eport comprises  three parts (Budget, Trust Funds and Financial Sta tements). 
The first part provides information on the expenditure for all the activities financed by the WTO 
regular budget. The second part provides information on the expenditure for all activities financed by 
Extra -Budgetary resources in trust funds. The  third part presents the consolidated (Regular and 
Extraordinary Funds) financial statements of the WTO Secretariat and includes the opinion of the 
External Auditor.  
1.3.  The World Trade Organization (WTO) is the only International O rganization dealing with the  
global rules of trade between nations. Its main function is to ensur e that trade flows as smoothly 
and predictably as possible . The areas  of our activity are:  
a. Implementation and Monitoring of exi sting Trade Rules: various WTO B odies seek to 
ensure that WT O agreements are being properly implemented. All WTO Members undergo 
periodic scrutiny of their trade policies and practices.  
b. Trade Negotiations: changes to the rules of trade re quire the agreement of all WTO 
Members, who must reach consensus through negot iations.  
c. Dispute Settlement: WTO Members bring disputes to the WTO if they think their rights 
under trade agreements are being infringed. Settling disputes is the responsibility of the 
Dispute Settlement Body.  
d. Building Trade Capacity: the WTO aims to help Developing C ountries to build their trade 
capacity. A large number of training activities are organized each year for officials from 
developing countries. This is part of a wider Aid -for-Trade Initiative, under which there is 
also the Enhanced Integrated F ramework (EIF) and the Standards and Trade Development 
Facility (STDF).  
e. Outreach: the WTO maint ains regular dialogue with non -Governmental Organizations, 
Parliamentarians, other International O rganizations, the media and the general public on 
various aspec ts of the WTO and the on -going negotiations, with the aim of enhancing 
cooperation and increasing awareness of WTO activities.   WT/BFA/W/392/Rev.1  
 
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  1.1  Budget  
1.4.  The budget proposal covering the expenses and income for the biennium is submitted to the 
Committee on Budget, Finance an d Administration. It comprises the Budget for the first year of that  
biennium, and the provisional b udget for the second year. The proposal reflects needs based on the 
projected level of activity for the biennium. The 201 5 Budget was approved by the Genera l-Council 
(WT/GC/M/149), on recommendation of the Committee on Budget, Finance and Administration 
(WT/BFA/139). It amounted to CHF  197 million and represent ed the second  year of the B iennium 
2014-2015.  
Figure 1 Budget Evolution (MC HF) 
 
1.5.  The budget is financed from Member States' assessed contributions 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 Member s. Assessed 
contributions represent a high percentage  of the funding of the b udget.  
b. Miscellaneous income is mainly made of the sale of publications and royalties, savings or 
refunds on previous year's obligations and expenses, rental of meeting rooms and o ffice 
space, contributions of Observers and overhead fee s collected for the management of the 
Trust Funds . 
1.2  Outstanding contributions  
1.6.  The amount of outstanding Members' contributions over the past 15 years has globally 
remained stable with the lowest level reached in 2014. Between 2014 and 2015 a slight increase can 
be observed . Members , who have arrears in contributions for more than one year, are subject to 
administrative measures. There are three categories of administrative measures depending on the 
numb er of years of outstanding contributions. Members have the possibility to enter into a payment 
plan that suspends the administrative measures. Seven Members were part of such plans at the end 
of 2015.  WT/BFA/W/392/Rev.1  
 
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  Figure 2 Outstanding Contribut ions (MCHF)  
 
1.3  Budget Breakdown  
1.7.  The WTO Budget is divided into three parts and eight sections by type of expenditure. Part A 
covers personnel related costs, part B covers other costs, and part C the Operating Funds and the 
WTO's contribution to the budget o f the International Trade Centre (ITC).  
Figure 3 WTO 201 5 Budget by part  
 
 
1.8.  The budget allocated to personnel -related expenditure (Part A) represents around 75% of the 
total budget allocated to the Secretariat. The personnel -relate d budget includes all expenditures 
linked to salaries of regular, fix ed-term staff, temporary staff and consultants. Since 2009, 
provisions for accrued benefits such as home leave, education grant, family allowances , separation 
grant  and untaken annual lea ve have been accounted for. The actuarial liabilities towards the WTO 
Pension Plan and for After Service Health Insurance  have been assessed since 2010 and are 
disclosed in the note s to the financial statements, but they are not part of the budget.  
1.9.  The bud get under Part B represents 14% of the total budget and mainly includes the 
expenditure for General Services, Travel & Hospitality, Capital and Financial Expenditure. Part C, 
which represents 11% of the budget, includes the three Operating Funds and the ex penditure for the 
International Trade Centre.   WT/BFA/W/392/Rev.1  
 
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  1.4  Building capacity  
1.10.   The International Trade Centre (ITC) is the joint technical co -operation agency of the United 
Nations (UN) and the WTO for Trade Related Technical Assistance (TRTA). Originally created by the 
General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated since 1968 under the 
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 technica l 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.  
1.11.   In addition to its regular budget , the WTO obtains voluntary contributions for selected 
programmes that are mana ged through trust funds. In 2015 , the WTO incurred CHF 21.26  million of 
expenditure financed by trust funds. These programmes are essentially geared at supporting 
activities for  technical cooperation and training meant to enable developing and Least D eveloped 
Countries to make better use of the WTO and draw greater benefit from the multilateral trading 
system.  
Figure 4 Key donors to Trust Funds since 2000  
 
Denmark
5% Finland
4%
Germany
7%
Netherlands
9%
Norway
10%
Sweden
12%
United States
6%European 
Union
6%others
41%
 
 
1.12.   The core of the WTO trade related activities are channelled through the Doha Development 
Agenda Global Trust Fund (DDAGTF). The DDAGTF activities are carried out in conformity with the 
Biennial Technical Assistance and Training Plan (The Plan). The Pl an foresees mainly 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 and training courses, 
academic support for training a nd capacity building as well as trainee programmes are also 
conducted. The DDAGTF also includes some staff expenditure directly or indirectly related to the 
delivery of the technical assistance activities. The proportion of voluntary contributions to the 
DDAGTF has decreased in recent years with larger inflows into ear-marked funds.  WT/BFA/W/392/Rev.1  
 
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  Figure 5 Trust Funds Contribution (MCHF)  
3 221
181619 20 19 19 20
16 15
1214
8 9 000
1
0848 711
10 11
1311
1313
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
DDAGTF Contributions Other contributions
 
 
1.5  Budget and financial results  
1.13.   At the end of each financial period, a proposal is made to the General Council on the use of 
the balance of the surplus account. The balance of the surplus account includes the budgetary 
savings or deficit as well as  other income and exp enditure which are not part of the budget ( rental of 
meeting rooms, sales of publications, refunds  of prior year's obligations among others ). A positive 
balance on the surplus account can either reduce Members' future contributions, be transferred to 
the Working Capital Fund of the Organization or be used for any other purpose decided  upon by the 
Gener al Council. A deficit   should be covered , to the extent possible, by a transfer from the Working 
Capital Fund. Any uncovered part should be included in the budget  of the following year . 
1.14.   The implementation of the International Public Sector Accounting Stand ards (IPSAS) in 2012 
introduced the financial or accounting result. This financial result includes expenditure not previously 
budgeted and accounted for, relating to pension and After Service Health Insurance liabilities . 
1.15.   In 2015, the WTO budget reported b udgetary savings of CHF 4. 6 million and miscellaneous 
income of CHF 1.6 million which  led to a positive budget resu lt of CHF 6.2  million. However, due to 
the introduction of IPSAS, the budget result became only an intermediate element of the 
performance ev aluation whilst the financial result assumed a key role in the performance 
assessment.  
1.16.   For 2015 the final financial result obtained according to IPSAS amounts to a deficit of CHF  6.6 
million and shows an opposite scenario compared to the positive budget re sult. 
1.17.   The discrepancy between the subtotal result (Budget Surplus) and the grand total IPSAS 
result (Financial Deficit) is mainly due to the negative impact of the actuarial cost of After Service 
Health Insurance benefits of CHF 15 million and other accoun ting adjustments related to the IPSAS 
implementation such as depreciation or provision for contributions in arrears among others.  
2  BUDGET PERFORMANCE  
2.1  2015 Income  
Table 1 WTO Income (kCHF)  
  Budget  Receipts  Balance  
Contributions fr om WTO Members  195,500  195,575  75 
Miscellaneous Income  1,704  3,251  1,547  
Total  197,204  198,826  1,622  
 
2.1.  The total income of the WTO, excluding trust funds, amounted to CHF  199 million in 201 5. It is 
CHF 1.6 million above the budgeted amount. This is compo sed of CHF  75,000 of additional 
contributions received due to the accession of two new Member s (Seychelles and Kazakhstan ) and 
higher receipts under miscellaneous income detailed below:   WT/BFA/W/392/Rev.1  
 
- 14 - 
  
  Table 2 2015 Miscellaneous Income ( kCHF)  
  Budget  Receipts  Balance  
Contributions of Observer Countries  700 652 -48 
Sale of Publications & Royalties  230 301 71 
Trust Fund - Participation to direct costs  180 190 10 
Refund of prior year's expenditure  200 1,989  1,789  
Saving o outstanding obligatio ns 0 34 34 
Rental of meeting rooms & office space  110 108 -2 
Profit/Loss on foreign exchange  0 195 195 
Other  284 -218 -502 
Total  1,704  3,251  1,547  
 
2.2.  Under miscellaneous income,  the WTO received the reimbursement of the budgetary surplus of 
ITC for the biennium 2012 -2013 amounting to CHF 1. 9 million. This is shown under " Refund of prior 
year's expenditure" . Additionally, higher receipts than projected were realized under the sale of 
publications, which is mainly due to the sales during the Ministerial Co nference. The WTO also 
realized a profit on foreign exchange due to the exchange rate development of the USD.  WT/BFA/W/392/Rev.1  
 
- 15 - 
 
  2.2  2015 Consolidated WTO Budget Performance  
Table 3 2015 Consolidated WTO Budget Performance  (WTO Secretariat and Appellate 
Body Secretariat) (kCHF)  
Part Section  Line  Budget  Expenditure  Balance  
A Staffing Resources        
  1. Staff Expenditure        
   i) Staff Remuneration  90,532  84,763  5,769  
    ii) Staff Pension & Post -
Employment Benefits  21,960  22,592  -632 
   iii) Staff Health & Invalidity 
Insurance  6,074  5,086  989 
    iv) Staff Family & 
International Benefits  11,244  10,577  667 
   v) Other Staff Expenditure  1,605  4,414  -2,809  
  2. Temporary Assistance        
   i) Short -Term Staff  8,110  11,575  -3,464  
    ii) Consulting  7,933  4,228  3,704  
   iii) Panellists & Appellate 
Body Member Fees  1,124  1,298  -174 
A Staffing Resources Total  148,582  144,532  4,050  
B Other Resources        
  3. General Services        
   i) Telecommunication & Post  1,686  713  974 
    ii) Contractual Services & 
Maintenance  9,649  9,811  -162 
   iii) Energy & Supplies  2,341  1,764  577 
    iv) Documentation & 
Publication  1,681  1,723  -42 
   v) Other / Miscellaneous  244  361  -117 
  4. Travel & Hospitality        
   i) Trave l 7,245  5,642          
1,604  
    ii) Hospitality  236  161  74  
  5. Implementing Partners        
    i) Implementing Partners  273  231  42  
  6. Capital Expenditure        
    i) Procurement of Fixed 
Assets  1,510  1,529  -19 
   ii) Rental & Leasing o f 
Equipment  1,457  441  1,016  
  7. Financial Expenditure         
   i) Bank & Interest 
Charges    30  69  -39 
    ii) Building Loan 
Reimbursement    1,200  1,200  -    
B Other Resources Total  
  27,551  23,644  3,908  
C Operating Funds and ITC         
  8. Contributions to ITC & Special Reserves        
    i) Contribution to ITC    18,470  18,470  -    
   ii) Appellate Body 
Operating Fund    2,000  2,000  -    
    iii) Ministerial Conference 
Operating Fund  600  600  -    
   iv) Building Renovation 
Fund   -    3,400  -3400 
C Operating Funds and ITC Total    21,070  24,470  - 3,400  
Grand Total         197,204  192,646  4,558  
 
  WT/BFA/W/392/Rev.1  
 
- 16 - 
  
  Table 4 2015 Consolidated Expenditure ( kCHF)  
 Budget  Actual  Balance  
WTO Secretariat  190,699  185,991  4,708 
Appellate Body and its Secretariat  6,505  6,656  -151 
Grand Total  197,204  192,646  4,558  
 
2.3  2015 WTO Secretariat Budget Performance  
Table 5 2015 WTO Secretariat Budget Performance  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources        
  1. Staff Expenditure        
    i) Staff Remuneration  88,055  82,348  5,706  
     ii) Staff Pension & Post -
Employment Benefits  21,440  22,086  -647 
    iii) Staff Health & Invalidity 
Insurance  5,917  4,955  962 
     iv) Staff Family & 
International Benefits  10,948  10,316  632 
    v) Other Staff Expenditure  1,562  4,363  -2,801  
  2. Temporary Assistance        
   i) Short -Term Staff  8,066  11,154  -3,089  
     ii) Consulting  7,933  4,228  3,704  
    iii) Panellists  365  492  -127 
A Staffing Resources Total   144,285  139,943  4,342  
B Other Resources        
  3. General Services        
   i) Telecommunication & Post  1,645  713  933 
    ii) Contractual Services & 
Maintenance  9,631  9,811  -180 
   iii) Energy & Supplies  2,321  1,743  578 
    iv) Documentation & 
Publication  1,671  1,717  -46 
   v) Other / Miscellaneous  217  352  -135 
  4. Travel & Hospitality        
   i) Travel  7,195  5,612  1,583  
    ii) Hospitality  235  161  74 
  5. Implementing Partners        
    i) Implementing Partners  273  231  42 
  6. Capital Expenditure        
    i) Procurement of Fixed 
Assets  1,485  1,529  -44 
   ii) Rental & Leasing of 
Equipment  1,442  441  1,001  
  7. Financial Expenditure         
   i) Bank & Interest Charges  30  69  -39 
    ii) Building Loan 
Reimbursement  1,200  1,200  0 
B Other Resources Total  27,344  23,578  3,766  
Operating Funds and ITC           
  8. Contributions to ITC & Special Reserves        
    i) Contribution to ITC  18,470  18,470  0 
  
 iii) Ministerial  Conference 
Operating Fund  600  600  0 
    iv) Building Renovation Fund  -  3,400  -3,400  
C Operating Funds and ITC Total   19,070  22,470  -3,400  
Grand Total      190,699  185,991  4,708  
 
 WT/BFA/W/392/Rev.1  
 
- 17 - 
 
  2.3.1   Part A - Staffing Resources  
2.3.  Part A comprises expenditure for re gular staff related to salary, pension, health insurance, 
death and invalidity insurance, staff benefits and expenditure related to removal, installation and 
separation of staff. Expenditure for short term staff, consultants and panellists is also included  under 
this item.  
Figure 6 2015 Expenditure  Staffing Resources  (kCHF)  
 
 
2.3.1.1   Staff Expenditure  
Figure 7 Comparison Budget/Expenditure for regular staff (kCHF)  
 
 
2.4.  Under Staff Remuneration, a saving has been real ised which is mainly due to a high number of 
vacant posts during the first semester 2015. Since then, a significant number of posts has been 
filled. The saving under Staff Remuneration also translates into savings under Health Insurance and 
staff benefits,  as these elements are closely linked to salaries.  
2.5.  Under Staff Pension and Post -Employment Benefits,  the overspending is due to obligatory 
compensation payments to the WTO Pension Plan for several voluntary separations. These voluntary 
separations were und ertaken in order to liberate necessary posts for the dispute settlement area.   WT/BFA/W/392/Rev.1  
 
- 18 - 
  
  2.6.  Under Staff Health and Invalidity Insurance, the projected increase of 4% with respect to the 
medical premiums in 2014 and in 2015 did not materialize and therefore resulted into  a saving.  
2.7.  Under Staff Family and International Benefits, the expenditure for Home Leave was lower than 
expected, which is mainly due to the reduction of travel costs due to the overall reduction of the 
reference airfare rate used as a basis for the calcul ation of the home leave travel cost.  An additional 
saving under Education Grant was realised due to a change in staff profile. The expenditure under 
child allowance also resulted into a saving which is linked to the number of vacant posts.  
2.8.  Under Other Staf f Expenditure, which relates to Removal, Installation and Separation of Staff, 
the overspending is mainly due  a write -off for uncollectible US taxes, as well as to separation 
payments for the voluntary separations.  
2.3.1.2   Temporary Assistance Expenditure  
Figure 8 Distribution of  Temporary Assistance  (kCHF)  
 
 
Figure 9 Comparison Budget/Expenditure for Temporary Assistance  (kCHF)  
 
 
2.9.  Under Temporary Assistance, the overspending in mainly due to the short term staff i n the 
dispute -settlement divisions (CHF 1.6 million), which includes the project -based dispute settlement WT/BFA/W/392/Rev.1  
 
- 19 - 
 
  lawyers (between 11 and 4 during the year), as well as other short term staff. Additionally, this 
overspending includes replacements for staff of leav e without pay, on long -term sick leave or for 
vacant posts.  
2.10.   Under Translation and Interpretation, a saving of CHF 1.4 million was realised under 
Translation. This surplus is due to various elements: every document to be translated is 
systematically outsour ced to the most efficient source, new technologies such as machine -assisted 
translations have been enhanced and the overall workload has slightly decreased over the last 
years.   Under Interpretation, an additional saving of CHF 0.3 million was generated, w hich is due to 
a better coordination of the individual interpreter teams and a slight reduction in workload.  
2.11.   Under Consultants, the saving is mainly due to a saving of CHF 1.3 million under IT 
consultants and a saving of CHF 0.4 million under the H uman Res ources  Training Programme. This is 
partly offset by the over -expenditure of some divisions. Under the IT budget, the saving under IT 
consultants is partly offset by the over -expenditure under short term IT staff and the over -
expenditure under Contractual S ervices. This includes the outsourced IT service centre, which has 
been established in 2015.  
2.12.   Under Panellist Fees, the overspending is due to the  continuous  increase in dispute settlement 
panels. The expenditure for panellist fees has increased by 35% comp ared to 2014.  
2.3.2   Part B - Other Resources  
2.13.   Part B comprises the expenditure for general services, travel and hospitality, activities jointly 
funded by the WTO and third parties as well as capital and financial expenditure.  
2.3.2.1   General Services  
Figure 10 Comparison Budget/Expenditure for General Services (kCHF)  
 
2.14.   The saving under Telecommunication and Post is composed of a saving under postal 
expenditure of CHF 0. 6 million and a saving under telecommunication of CHF 0.4 million. The 
reductio n of postal charges is due to the paperless strategy of the WTO in order to reduce the 
amount of official documentation being printed and distributed by mail and to increased e -mail 
exchange instead of letters.  The saving under telecommunication is the res ult of closer monitoring 
and re -negotiated rates for mobile phones.  
2.15.   Under Contractual Services and Maintenance, the overspending on the outsourced IT Service 
Desk (CHF 0.8 million) and building maintenance (CHF 0.5 million) is partly offset by savings unde r 
the security outsourcing contract (0.5 million) and on insurance premiums due to the re -negotiation 
of several insurance policies (0.1 million).   WT/BFA/W/392/Rev.1  
 
- 20 - 
  
  2.16.   Under Energy and Supplies, the saving on electricity (CHF  0.3 million)  and supplies 
(CHF 0.2 million)  is part ly offset by the overspending on heating and water (CHF 0.1 million).  The 
saving under electricity is due to the selection of a new electricity provider and the negotiation of 
more favourable rates for the WTO.  
2.17.   Under Document ation and Publications a slight  over-expenditure has been realised due to 
write-offs of obsolete publications . 
2.18.   Under Other/Miscellaneous, the expenditure under Membership Fees, which is part of the HR 
Training Programme, was slightly higher than budgeted (CHF 0.2 million). However, this  is largely 
compensated by savings under consultants related to the HR Training Programme.  
2.3.2.2   Travel and Hospitality  
Figure 11 Comparison Budget/Expenditure for Travel and Hospitality (kCHF)  
 
2.19.   The saving under Travel is mainly  due to the fact that technical assistance activities could be 
organised at a lower  cost than originally projected, which was either due to cost saving measures or 
due to the fact that a lower number of participants than projected attended the courses.  
Additionall y, a saving on the travel of panellists of CHF 0. 2 million was generated.  
2.20.   Under Insurance related to mission travel, a slight overspending was realized, due to the 
negotiation of a new contract for international SOS insurance. However, this overspending is  
compensated by a reduction in the WTO medical premiums  (under Staff Health Insurance) , which 
formerly included this part of the SOS insurance.  
2.21.   The saving under Hospitality is due to a very strict management of the hospitality budget.  
2.3.2.3   Implementing Partners  
Figure 12 Comparison Budget/Expenditure for Implementing Partners (kCHF)  
273 231
Implementing Partners
Budget Expenditure
 
2.22.   The saving under Implementing Partners is due to a reduction of activities related to joint 
programmes with universities in the area of technical assistanc e. WT/BFA/W/392/Rev.1  
 
- 21 - 
 
  2.3.2.4   Capital Expenditure  
Figure 13 Comparison Budget/Expenditure for Capital Expenditure (kCHF)  
 
 
2.23.   The overspending  under Procurement of fixed assets  is due to an overspending of 
CHF 0.3 million on computing hardware. This is partly offset by a saving on security equipment of 
CHF 0.2 million.  
2.24.   Under Rental and Leasing of Equipment, the saving of CHF 1 million is a result of the 
streamlining measures and the re -negotiation of several rental agreements. Additionally, some re -
negotiated c ontracts have only started later in the year, thereby increasing the saving.  
2.3.2.5   Financial Expenditure  
Figure 14 Comparison Budget/Expenditure for Financial Expenditure (kCHF)  
 
2.25.   The Financial Expenditure includes the reimbursement of t he 50 -year interest -free loan for 
the new administrative building of the WTO, as well as bank and interest charges . At the end of 
March 2015, the WTO's main banks introduced  negative interest on current account balances . As a 
result of the delay in the im plementation of the new regime and continued negotiations with the 
WTO main banks, the impact of the negative interest was limited to some CHF 40,000 for 2015. 
Without these negotiations, the interest charge would have been far beyond CHF 100,000.  
2.3.3   Part C - Operating Funds and ITC  
2.26.   Part C is related to the contribution to the International Trade Centre and the operating funds 
of the WTO.   WT/BFA/W/392/Rev.1  
 
- 22 - 
  
  Figure 15 Comparison Budget/Expenditure for Operating Funds and ITC (kCHF)  
18,470
60018,470
6003,400
Contribution to ITC Ministerial Conference
Operating FundBuilding Renovation Fund
Budget Expenditure
 
2.27.   The contribution to t he International Trade Centre, whose  budget is jointly funded by the 
WTO and the UNCTAD, has been fully paid and amounted to CHF 18.5 million.  
2.28.   The Ministerial Operating Fund (MOF), originally created in 1999, has been established to 
avoid budgetary fluctua tions with respect to the expenditure for Ministerial Conferences, which in 
general take s place every two years. In a non -Ministerial year, the Ministerial Operating Fund is 
replenished to provide funds for the following Ministerial year. The two -years pro vision under the 
MOF relates to any type of expenditure that the Organization would have had to incur, had the 
Ministerial been held at the headquarters in Geneva, and excludes all expenditure relating to its 
change of venue, which is underwritten by the c ountry hosting the Ministerial Conference.  In 2014, 
the provision of CHF 0.6 million was renewed and credited to the MOF.  In 2015, the yearly provision 
of CHF 0.6 million was credited to the MOF at the beginning of the year. In December 2015, the 10th 
Ministerial Conference of the WTO was held in Nairobi, Kenya. The expenditure of CHF 1.2 million 
was charged to the MOF, which was therefore fully expensed.  
2.29.   The Building Renovation Fund2 (BRF) was established at the end of 2015 in order to cover the 
foreseeabl e costs of medium and long -term building and infrastructure projects.  The purpose of the 
Building Renovation Fund is to finance the costs of extraordinary but necessary building and 
infrastructure maintenance of the single site, including the costs of futu re projects, undertaken with 
a view to introducing improvements or enhancements to the site.  
2.30.   Following the establishment of the Building Renovation Fund in November 2015, it has been 
replenished with the remaining funds from the Members Transition Operatin g Fund (MTOF), the  
remaining surplus of 2011 and available funds from the regular budget.  
2.3.4   Proposed transfers between budgetary sections  
2.31.   In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessar y in order to cover excess expenditure over approved appropriations 
by savings. Authority is sought to increase these appropriations accordingly, as follows:  
                                                
2 WT/BFA/W/359 Building Renovation Fund.  WT/BFA/W/392/Rev.1  
 
- 23 - 
 
  Table 6 Proposed Transfers between Sections of the 201 5 WTO Budget (kCHF)  
Part Section  Budget  Expenditure  Balance  Proposed 
Transfers  Revised 
Appro pri-
ations  Balance  
A Staffing Resources              
  1. Staff Expenditure  127,921  124,068  3,853  -151 127,770  3,702  
  2.Temporary Assistance  16,363  15,874  489 0 16,363  489 
B Other Resources              
  3. General Services  15,485  14,335  1,150  -1,150  14,335  0 
  4. Travel & Hospitality  7,430  5,773  1,656  -1,656  5,773  0 
  5. Implementing 
Partners  273 231 42 0 273 42 
  6. Capital Expenditure  2,927  1,970  957 -632 2,294  325 
  7. Fina ncial Expenditure  1,230  1,269  -39 39 1,269  0 
C Operating Funds and ITC              
  8. Contributions to ITC 
& Special Reserves  19,070  22,470  -3,400  3,400  22,470  0 
Grand Total   190,699  185,991  4,708  -151 190,548  4,558  
 
2.4  2015 Appellate Body and its Secre tariat budget performance  
2.32.   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 Rules and Regulations. The Appellate Body an d its 
Secretariat budget follow  the same structure as the one used for the WTO Secretariat.   WT/BFA/W/392/Rev.1  
 
- 24 - 
  
  Table 7 2015 Appellate Body and its Secretariat Budget Performance (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources        
  1. Staf f Expenditure        
   i) Staff Remuneration  2,478  2,415  63 
    ii) Staff Pension & Post -Employment Benefits  520  506  15 
   iii) Staff Health & Invalidity Insurance  157  131  26 
    iv) Staff Family & International Benefits  296  261  34 
   v) Other  Staff Expenditure  43  51  -7 
  1. Staff Expenditure Total   3,494  3,363  131 
  2. Temporary Assistance        
    i) Short -Term Staff  45  420  -376 
   ii) Consulting  0 0 0 
    iii) Appellate Body Member Fees  759  806  -47 
  2. Temporary Assistance To tal  804  1,226  -423 
A Staffing Resources Total   4,298  4,590  -292 
           
B Other Resources          
  3. General Services        
    i) Telecommunication & Post  41  0 41 
   ii) Contractual Services & Maintenance  18  0 18 
    iii) Energy & Suppli es 20  21  -1 
   iv) Documentation & Publication  10  6  4 
    v) Other / Miscellaneous  27  9  18 
  3. General Services Total   116  36  80 
  4. Travel & Hospitality        
   i) Travel  50  29  21 
    ii) Hospitality  1  1  0 
  4. Travel & Hospitality T otal  51  30  21 
  6. Capital Expenditure        
   i) Procurement of Fixed Assets  25  0 25 
    ii) Rental & Leasing of Equipment  15  0 15 
  6. Capital Expenditure Total   40  0 40 
B Other Resources Total   207  66 141 
C Operating Funds and ITC        
  8. Contributions to ITC & Special Reserves        
   ii) Appellate Body Operating Fund  2,000  2,000  0 
  8. Contributions to ITC & Special Reserves Total  2,000  2,000  0 
C Operating Funds and ITC Total  2,000  2,000  0 
Grand Total  6,505  6,656  -151 
 
2.33.   The expenditure incurred by the Appellate Body and its Secretariat amounted to 
CHF 6.6 million in 201 5. It led to a slight budgetary deficit of CHF 0. 1 million.  
2.4.1   Part A - Staffing Resources  
2.34.   Part A of the Appellate Body Secretariat comprises the same element s as mentioned for the 
WTO Secretariat above, i.e. all elements linked to salaries of regular, fixed -term, temporary staff 
and Appellate Body Members.  
2.35.   The overspending under Temporary Assistance mainly includes the expenditure for the 
temporary dispute set tlement lawyers as well as other short term staff recruited to assist with the 
high workload A slight overspending has been realized under Appellate Body Member Fees, as the 
budgetary allocation did not foresee the full funding of the seventh Appellate Bod y Member. This has 
been adjusted for the next biennium.  WT/BFA/W/392/Rev.1  
 
- 25 - 
 
  2.4.2   Part B - Other Resources  
2.36.   Under Part B, the main part of the expenditure occurred under Supplies,  Other/Miscellaneous 
and Travel. The expenditure under Supplies related to paper and office supplies for  the Appellate 
Body Secretariat. Other/Miscellaneous included the expenditure for staff training as a part of the HR 
Training Programme, and Travel included the divisional travel expenditure.  
2.4.3   Part C - Operating Funds and ITC  
2.37.   The contribution to the Appella te Body Operating Fund (ABOF) which covers for the variable 
costs associated to appeals, mainly daily fees and travel costs of Appellate Body Members, 
amounted to CHF 2 million in 201 5 and was exactly covered by the budget for this item. Due to the 
increas ing number of appeals, the allocation had been increased from CHF 1.6 million in 2013 to 
CHF 1.8 million in 2014 and to CHF 2 million in 2015.  
2.38.    The detail of the expenditure incurred by the ABOF in 201 5 is presented in the following  
table.  
Table 8 ABOF expenditure (kCHF)  
Statement of Appellate Body Operating Fund Expenditure  KCHF  
Opening Balance as at 1  January  2015  1,020 
Contribution from the regular budget of the Appellate Body and its Secretariat  2,000  
Expenditure in 2015:    
Appellate Body Members daily fees  -1,029 
Appellate Body Members travel expenditure  -562 
Oral hearings  -114 
Postage  -6 
Total expenditure  -1,711  
Closing balance as at 31  December  2015  1,309  
 
2.5  Proposed transfers between budgetary sections  
2.39.   In accordance w ith Financial Regulation 2 1 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order to cover excess expenditure over approved appropriations 
by savings. Authority is sought to increase these appropriations accordingly, as fo llows:  
Table 9 Proposed Transfers between Sections of the 201 5 Appellate Body and its 
Secretariat Budget  (kCHF)  
Part Section  Budget  Expen - 
Balance  Proposed 
Transfers  Revised 
Appropri ations  Balance  
diture  
A Staffing Resource s             
  1. Staff Expenditure  3,494  3,363  131 -131 3,363  0 
  2. Temporary Assistance  804 1,226  -423 423 1,226  0 
B Other Resources              
  3. General Services  116 36 80 -80 36 0 
  4. Travel & Hospitality  51 30 21 -21 30 0 
  6. Capital Exp enditure  40 0 40 -40 0 0 
C Operating Funds and ITC              
  8. Contributions to ITC & 
Special Reserves  2,000  2,000  0   2,000  0 
Grand Total  6,505  6,656  -151 151 6,656  0  WT/BFA/W/392/Rev.1  
 
- 26 - 
  
  2.6  Expenditure by Key Outputs and Projects  
Figure 16 Expe nditure by Key Outputs and Projects (kCHF)  
1,087
2,794
8,170
4,548
4,303
2,533 
2,020
1,525
350
0
822,467
3,213
8,091
3,368
3,538
2,787 
1,082
1,176
308
240
74Dispute Settlement -
Panels
Dispute Settlement -
Appeals
IT
Technical Assistance
Activities
Security
Building Maintenance
Documents
Reproduction
HR Training
Programme
Public Forum
WTO@20
Open Day
Budget Expenditure
 
 
2.40.   The budget presented by key output and projects represents 42% of the total budget without 
the budget for regular salaries. The expenditure situation by key output and projects is detailed 
below:  
2.6.1   Dispute Settle ment  
 Table 10 Dispute Settlement Expenditure  – Panels  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources         
  2. Temporary Assistance  i) Short -Term Staff  0 1,451  -1,451  
   iii) Panellists  340 491 -151 
A Staffing Resources Total    340 1,943  -1,603  
B Other Resources      
   
  3. General Services  i) Telecommunication & Post  17 9 8 
   iii) Energy & Supplies  0 0 0 
  4. Travel & Hospitality  i) Travel  730 515 215 
B Other Resources Total    747 525 222 
Gran d Total    1,087  2,467  -1,380  
 
2.41.   During the year 2015, the WTO received thirteen new requests for consultations. Sixteen 
panels, covering eighteen disputes, were established by the DSB in the course of the year. A total of 
nine panel reports were circulated in 2015; six of these concerned original disputes and three 
concerned disputes about compliance. Two arbitration awards on the level of nullification or 
impairment were also circulated.  
2.42.   Under Temporary Assistance, an overspending of CHF 1.4 million was rea lized, which includes 
the expenditure for the project based dispute settlement lawyers as well as other temporary staff 
hired to support the dispute settlement divisions.  
2.43.   Under Panel ists, an over -expenditure on panelist fees has been realized. The expendi ture 
under this position has been constantly increasing since 2012, linked to the increasing number of 
panels in the dispute settlement area. Th e budgetary allocation for Pane lists has been increased by 
CHF 50,000 in 2014 and by another CHF 50,000 in 2015.  
2.44.   Under Travel, the travel expenditure related to panelists work is accounted for. A saving of 
CHF 0.2 million could be realized under this position.  WT/BFA/W/392/Rev.1  
 
- 27 - 
 
  Table 11 Dispute Settlement Expenditure  – Appeals  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary Assistance  i) Short -Term Staff  0 420 -420 
    iii) Appellate Body 
Members Fees  759 791 -32 
A Staffing Resources Total    759 1,211  -452 
B Other Resources          
  3. General Services  i) Telecommunication & 
Post 35 0 35 
  4. Travel & Hospitality  i) Travel  0 0 0 
    ii) Hospitality  0 1 -1 
B Other Resources Total    35 2 33 
C Operating Funds and ITC    35 2 33 
  8. Contributions to ITC  
& Special Reserves  ii) Appellate Body 
Operating Fund  2,000  2,000  0 
C Operating Funds and ITC Total    2,000  2,000  0 
Grand Total    2,794  3,213  -420 
 
2.45.   Dispute Settlement activity related to appeals remained high in 2015. Eleven Appellate Body 
reports concerning seven matters were circulated during the year. I n addition, the Appellate Body 
Secretariat assisted arbitrators in three arbitrations under Article 21.3(c) of the DSU .  
2.46.   Furthermore, given that the Appellate Body is composed of only seven Members, and given 
the current size of its Secretariat, its capaci ty to handle multiple appeals is limited. In light of the 
tight time -frames applicable to appeals and the increasing size and complexity of appeals, it is 
difficult for Appellate Body Members to work on more than two appeals at the same time. Therefore, 
the Appellate Body can usually not deal with more than three appeals simultaneously. This may limit 
the capacity of the dispute settlement mechanism, creating a bottleneck for the system. Where  
Members to consider increasing the number of Appellate Body Memb ers from seven to nine in order 
to increase the capacity of the system. This would lead to a greater need for additional lawyers and 
paralegal staff with the appropriate grading structure at the Appellate Body Secretariat, which would 
put an additional str ain on the resources of the organization. For the immediate future, however, the 
Appellate Body is likely to have less rather than more Appellate Body Members, as WTO Members 
have been unable to agree on the appointment and reappointment of individuals for  two positions on 
the Appellate Body. As of June 2016, and until two new Members are appointed, the Appellate Body 
will be composed of only 5 Appellate Body Members. As a result, the capacity of the Appellate Body 
to hear appeals will be significantly redu ced.   
2.47.   Under Dispute settlement expenditure related to appeals, the over -expenditure is, as under 
the panel stage, linked to the expenditure for the project -based lawyers and other short -term staff 
hired to work on appeals.   WT/BFA/W/392/Rev.1  
 
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  2.6.2   Information Technology  
Table 12 Information Technology Expenditure  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary 
Assistance  i) Short -Term Staff  40 628 -588 
    ii) Consulting  2,633  1,354  1,279  
A Staffing Reso urces Total    2,673  1,982  690 
B Other Resources          
  3. General Services  i) Telecommunication & Post  674 270 404 
    ii) Contractual Services  
& Maintenance  3,225  4,224  -999 
    iii) Energy & Supplies  270 149 121 
    v) Other / Miscellaneous  0 0 0 
  4. Travel & Hospitality  i) Travel  15 12 3 
    ii) Hospitality  1 0 1 
  6. Capital Expenditure  i) Procurement of Fixed Assets  1,180  1,378  -198 
    ii) Rental & Leasing of Equipment  132 76 57 
B Other Resources Total    5,497  6,108  -612 
Grand Total    8,170  8,091  79 
 
2.48.   Around two thirds of the ITSD expenditure relates to running the day to day business. The 
two largest items in this domain evolved significantly in 2015: Within the commodity services 
purchased from UNICC (CHF 1.6 million), the WTO added t he provision for the email which was 
outsourced during the year. 2015 was also the first year of service with the outsourced Service Desk 
(CHF 0.9 million under contractual service and maintenance) which provides the technicians for the 
IT service centre. These two outsourcing efforts were difficult projects which were successful and 
represent important milestones for the future. Other major items in this domain cover hardware 
replacement (CHF 1.4 million for PCs, Servers and Switches) as well as the mainte nance costs for all 
software and hardware (CHF 1.6 million). The telecommunication costs remained stable.  
2.49.   The last third of the IT expenditure includes the implementation of new IT solutions. In 2015, 
the IT division worked on more than 30 projects bringin g important services to the public and 
Members such as a new registration platform for Members, which had to be delivered before MC10, 
a new version of iTip Goods and iTip Services as well as a new login for Members on wto.org or a 
Trade Facilitation Agree ment facility website. Other projects are still going on and will be completed 
in 2016 even if most of the work was accomplished in 2015: the GPA site, DDSR, an Agriculture 
Notifications Website and a new IP Website. Concerning improvements to internal pro cesses, after 
completing the ERP upgrade, the IT team rolled -out a new reporting tool to analyse financial data. 
The team also worked on a new travel and expenditure platform which will be rolled -out in 2016. 
Furthermore, the IT team started upgrading the solution to distribute software to our 800 PCs and 
finalised a PC virtualization platform, increasing the ability to leverage external translators or IT 
developers.  
 WT/BFA/W/392/Rev.1  
 
- 29 - 
 
  2.6.3   Technical Assistance  
Table 13 Technical Assistance Related Traini ng Courses by Expenditure Line  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary 
Assistance  i) Short -Term Staff  6 0 6 
    ii) Consulting  241 164 77 
A Staffing Resources Total    247 164 83 
B Other Resources          
  3. General Services  i) Telecommunication & Post  87 17 70 
    iii) Energy & Supplies  0 5 -5 
    iv) Documentation & Publication  33 14 19 
  4. Travel & 
Hospitality  i) Travel  4,061  3,145  916 
    ii) Hospitality  50 23 27 
  5. Implementing 
Partners i) Implementing Partners  70 0 70 
B Other Resources Total    4,301  3,204  1,097  
Grand Total    4,548  3,368  1,180  
 
2.50.   The major part of the savings realised under technical assistance activities was due to the fact 
that several courses were organised at a lower cost than projected due to lower airplane tickets. The 
highest saving was realised under the Advanced Trade Policy Courses. One course, the Introduction 
Course for LDCs, has been cancelled due to the fact that not enough participants have registered.  
2.6.4   Security  
Table 14 Security Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary 
Assistance  ii) Consulting  0 5 -5 
            
A Staffing Resources Total    0 5 -5 
B Other Re sources          
  3. General Services  ii) Contractual Services 
& Maintenance  3,913  3,366  547  
    iii) Energy & Supplies  25  18  7  
  4. Travel & 
Hospitality  i) Travel  130  107  23  
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  235  42  193  
B Other Resources Total    4,303  3,533  770  
Grand Total    4,303  3,538  765  
 
2.51.   Under the output Security, savings have been generated under the security outsourcing 
contract and the procurement of security equipment.  The saving under the security outs ourcing 
contract is due to the establishment of the security perimeter in 2014 and to the re -negotiation of 
the security contract. The saving under security equipment is due to the complete renewal of 
security equipment during the renovation project.   WT/BFA/W/392/Rev.1  
 
- 30 - 
  
  2.6.5   Building Maintenance  
Table 15 Building Maintenance Expenditure (kCHF)  
Part Section  Line Account  Budget  Expenditure  Balance  
B Other Resources          
  3. General  
Services  ii) Contractual Services & 
Maintenance  Contractual 
Services  936 907 29 
    Building 
Maintenance  533 1,007  -474 
              
   iii) Energy & Supplies  Electricity  625 352 273 
      Water  39 66 -27 
    Gas & Fuel  300 393 -93 
      Supplies  100 62 38 
  3. General Services Total    2,533  2,787  -254 
B Other Resour ces Total     2,533  2,787  -254 
 
2.52.   Under the output Building Maintenance, over -expenditure was realised under the account 
building maintenance due to the fact that the WTO became the owner of its premises in 2013 and 
therefore became entirely responsible for the maintenance of its buildings. Until that date, the FIPOI 
(Fondation des Immeubles pour les Organisations Internationales ) has assumed part of the building 
maintenance. Under Electricity, a saving could be realised due to the change of supplier of the 
electricity provider and the complete re -negotiation of the contract.  
2.6.6   Documents Reproduction  
Table 16 Documents Reproduction and Distribution Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary 
Assistance  i) Short -Term Staff  170 235 -65 
A Staffing Resources 
Total    170 235 -65 
B Other Resources          
  3. General 
Services  i) Telecommunication & Post  0 0 0 
    ii) Contractual Services & 
Maintenance  90 35 55 
    iii) Energ y & Supplies  479 476 3 
    iv) Documentation & Publication  0 1 -1 
  6. Capital 
Expenditure  ii) Rental & Leasing of Equipment  1,281  335 945 
            
B Other Resources Total    1,850  847 1,002  
Grand Total    2,020  1,082  937 
 
2.53.   In the area of Documents R eproduction, the major part of the saving has been realised under 
rental and leasing of equipment for reproduction. Due to the streamlining measures introduced in 
2013, the reproduction equipment has been reduced from 6 to 3 machines. An additional saving has 
been realised under equipment maintenance which is the result of a complete review of all 
maintenance contracts related to reproduction equipment.  WT/BFA/W/392/Rev.1  
 
- 31 - 
 
  2.6.7   Human Resources  Training  Programme  
Table 17 Human Resources Training Expenditure  (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary Assistance  ii) Consulting  995 560 435 
A Staffing Resources Total      995 560 435 
B Other Resources          
  3. General Services  iii) Energy & Supplies  0 1 -1 
    v) Other / Miscellaneous  180 349 -169 
  4. Travel & Hospitality  i) Travel  250 218 32 
    ii) Hospitality  100 50 50 
B Other Resources Total     530 617 -87 
Grand Total      1,525  1,176  349 
 
2.54.   In the HR Training Programme 2015, greater emphasis was  placed on promoting Peer 
Learning and establishing "Communities of Practice". This took the form of learning networks for (i) 
New Directors; (ii) Managers; (ii) Committee Secretaries; (iii) Administrative Assistants and (iv) HR 
Administrators.  
2.55.   One third o f the budget was devoted to performance management and management 
development, i.e. enhancing the capability of all levels of management in the Secretariat. Key 
activities were (i) the Upward Feedback exercise and the ensuing coaching programme for directo rs 
and managers; (ii) Director -facilitated "Boost of energy" sessions which addressed various aspects 
of management and (iii) Leadership Masterclasses aimed at showcasing the latest thinking and 
research primarily in the area of management and leadership.  
2.56.   Focus was also placed on aspiring managers. New workshops such as "Technical Expert to 
People Manager" serve d to not only dispel some of the myths that technical experts may have 
regarding "being in charge" but  also assist ed course participants  to gauge th eir readiness for a 
managerial role.  
2.57.   Finally, a revised programme for Technical Assistance facilitators was also established in 
2015. This modular programme addresses not just how to deliver training but also new instructional 
design methods geared at ensu ring highly participative and engaging learning experiences  for 
Members . 
2.58.   The expenditure rate under  the Human Resources Training Programme  2015 was 77% with a 
saving of CHF 349,000.The saving was mainly realised under  consultants, which was partly offset b y 
an overspending under membership and registration fees.  
2.6.8   Outreach  
2.6.8.1   Public Forum  
Table 18 Public Forum Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing Resources          
  2. Temporary Assistance  i) Short -Term Staff  100 112 -12 
A Staffing Resources Total    100 112 -12 
B Other Resources          
  3. General Services  ii) Contractual Services & 
Maintenance  30 9 21 
    iii) Energy & Supplies  30 32 -2 
    iv) Documentation & Publication  60 84 -24 
  4. Trav el & Hospitality  i) Travel  110 55 55 
    ii) Hospitality  20 13 7 
B Other Resources Total    250 193 57 
Grand Total    350 305 45 
  WT/BFA/W/392/Rev.1  
 
- 32 - 
  
  2.59.   The Public Forum 2015 offered a total of 90 sessions around the general topic 'Trade Works'. 
The sessions were organized by a wide range of participants, including WTO members, businesses, 
non-governmental organizations, academia, law firms and international organizations and welcomed 
approximately 1,300 visitors.  
2.60.   With respect to the expenditure of the public forum 2015, 87% of  the budget have been 
spent. The overspending on temporary assistance has been offset by the saving realised under the 
travel expenditure of consultants.  
2.6.8.2   WTO 20th Anniversary  
Table 19 WTO@20 (kCHF)  
Part Section  Line Budget  Expenditu re Balance  
A Staffing Resources          
  2. Temporary 
Assistance  i) Short -Term Staff  0 92 -92 
A Staffing Resources Total    0 92 -92 
B Other Resources          
  3. General Services  iii) Energy & Supplies  0 50 -50 
    iv) Documentation & Publication  0 15 -15 
  4. Travel & Hospitality  i) Travel  0 69 -69 
    ii) Hospitality  0 6 -6 
  5. Implementing 
Partners  i) Implementing Partners  0 8 -8 
B Other Resources Total    0 148 -148 
Grand Total    0 240 -240 
 
2.61.   The 20th Anniversary of the WTO regrouped a numb er of activities throughout the year 2015, 
which includes several publications and book launches, joint activities with other organisations, video 
productions and the invitation of external speakers. The total expenditure amounted to CHF 240,000 
which was financed by savings in other areas.  
2.6.8.3   Open Day  
Table 20 Open Day (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
B Other Resources          
  3. General 
Services  ii) Contractual Services & 
Maintenance  31 10 21 
    iii) Energy & Supplies  21 15 6 
    iv) Documentation & Publication  30 18 12 
  4. Travel & 
Hospitality  ii) Hospitality  0 0 0 
  6. Capital 
Expenditure  ii) Rental & Leasing of Equipment  0 30 -30 
B Other Resources Total    82 74 8 
Grand Total    82 74 8 
 
2.62.   In 2015, the WT O organised the forth Open Day since its inception in 2009. The Open Day 
2015 was held as a part of the 20th Anniversary activities of the WTO in order to thank Geneva and 
its people for generously hosting the organization over the past 20 years. Some 3,00 0 visitors were 
welcomed that day.  
2.63.   The budget was on track with a small saving of CHF 8,000.  WT/BFA/W/392/Rev.1  
 
- 33 - 
 
  3  TRUST FUNDS PERFORMANCE  
3.1.  This part describes the activities performed in 201 5 using extra -budgetary funds. The flagship 
of the WTO's trust funds is the Doha Develop ment Agenda Global Trust Fund (DDAGTF). While there 
are several smaller funds that address specific purposes, it is the policy of the WTO to encourage the 
consolidation of most trade -related technical assistance under this global trust fund.  
3.1  Doha Developme nt Agenda Global Trust Fund  
Figure 17 Allocation  of DDAGTF Resources 201 5 
 
General WTO -Related 
T.A
42%
Specialized and 
Advanced T.A
22%Academic Support
6%Trainee Programmes 
and Internships
3%Staff Costs and Other 
Programmes
27%
 
 
3.2.  The complete qualitative and quantitative overview of technical assistance and training 
activities undertaken in each year is presented by the Secretaria t to the Membership in the spring of 
the following year in a separate report.  
Table 21 Doha Development Agenda Global Trust Fund (DDAGTF)   
Financial Report Summary ( '000 CHF)  2015  2014  
Funds as at 1  January  16,522 18,058  
Contrib utions received  9,105 7,793  
Interest earned  - 18 
Total funds  25,627 25,869  
Total expenditures  -9,225  -9,347  
Balance as at 31  December  16,372  16,522  
 
3.3.  The Doha Development Agenda Global Trust fund (DDAGTF) was established in December  2001 
to finance te chnical 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 global fund was to consolidate the numerous extra -budgetary funds in a single un -earmarked 
fund, so as to provide a stable financial basis for the delivery of the TA plan adopted by Members. 
The activities supported by the DDAGTF are intended to: enhance institutional and human capacity 
in beneficiary countries; address trade policy is sues and concerns; facilitate fuller participation of 
beneficiaries in the Multilateral Trading System; and encourage effective participation in the 
negotiations.  
3.4.  The WTO's technical assistance and training programmes are primarily geared towards 
governmen t officials from WTO Members and acceding countries that are directly responsible for 
WTO-related issues, including the implementation of the Agreements of the Multilateral Trading 
System and the DDA negotiations. A secondary broader audience, including ac ademics, civil society, 
parliamentarians and private sector representatives is targeted through the academic and outreach 
programmes.  
3.5.  Trade -related technical assistance and training activities (TRTA) 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.   WT/BFA/W/392/Rev.1  
 
- 34 - 
  
  3.6.  The TA Plan identifies the objectives and types of activities to be delivered by the Secretariat 
for the period concerned. The TA Plan normally  foresees a number of activities at the global and 
regional levels, to be delivered within a given year. The TA Plan also anticipates additional activities 
at the national level on the basis of specific requests by Members (potentially up to two activities  per 
year per developin g country Member and three for Least Developed C ountries (LDCs) ). 
3.7.  The TA Plans are structured  around a progressive learning strateg y designed in such a way as 
to: 
a. ensure that the beneficiaries are gradually moving to higher levels of  learning;  
b. contribute to sustainable human and institutional capacity -building;  
c. strengthen inter linkages among programmes;  
d. build synergies across subject areas;  
e. assure coherence and cost -effectiveness in the delivery of TRTA.  
3.8.  Increasingly, important eleme nts of results based management (RBM) are being incorporated 
into the WTO's TA Plans as approved for the biennium 2014 -15 and for the 2016 -2017. 
3.9.  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 directly 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 com petencies of the 
partner organizations.  
3.10.   The TA products  can be grouped b roadly in five main categories:  
a. E-learning/Self Training Courses  – Takes full advantage of information technology and the 
Internet as a complement as well as an alternative to traditio nal training programmes. 
These offerings consist of different types of IT -based technical assistance and training 
tools. This approach is focused particularly on introductory and intermediate level training 
for both generalists and specialists. Efforts are  currently under way to enhance existing 
e-learning options and expand options to provide higher level content.  
b. General WTO -related technical assistance and training  – Training activities for government 
officials with a broad overall WTO responsibility and  a general knowledge of the 
multilateral trading system. The main purpose is to initiate officials in the rules and 
functioning of the WTO and/or to raise the general level of knowledge and provide 
opportunities for them to increase their skills.  
c. Speciali zed and advanced technical assistance training  – National/regional seminars and 
workshops as well as specialized courses for the initiated and specialists/technicians. The 
focus is on providing in -depth training and enhancing skills that have a direct prac tical 
value in implementing WTO Agreements.  
d. Academic 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 profess ors on WTO matters, support programmes for 
doctoral 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 multilateral trading system (MTS) and/or 
to provide support to the respective beneficiaries' regional secretariats to the WTO.  
3.11.   In addition to the direct costs of the various training activities, some staff co sts related to the 
delivery of the technical assistance activities are funded from the DDAGTF.  
3.12.   TRTA programmes impl emented under the DDAGTF in 2015  were based on the Biennial 
Technical Assista nce and Training Plan 2014 -2015. The Committee on Trade and Deve lopment and 
the Committee on Budget, Finance and Administration jointly examined and endorsed the Technical 
Assistance and Training Plan 2014 -2015. Subsequent to the recommendation of the Committee on 
Budget, Finance and Administration, the General Council  approved a target amount of CHF  14 
million for the DDAGTF for each year of the biennium, corresponding to the estimated costs of the WT/BFA/W/392/Rev.1  
 
- 35 - 
 
  activities contained in the Plan. This represented a decrease from the prior years where the target 
amount was CHF 24 mill ion in 2011, and CHF 18  million  in 2012 and 2013 . The new target largely 
reflected the capacity of Members to participate in, and the WTO to implement, these types of 
activities.  
3.13.   Historically, actual expenditures from the DDAGTF have been around CHF  18 million. 
However, expenditure levels since 2011 fell considerably below this target.  
3.14.   The DDAGTF is a revolving fund, i.e. the remaining balance at the end of a year is carried 
forward t o the next year of the fund's operation and counts toward meeting the peri odic benchmarks 
set for co ntribution receipts as follows:  
a. 25% of the following year's target amount to be in the bank by 31  December;  
b. another 50% for an overall 75% by 31  March; and  
c. 100% by the end of June.  
3.15.   This approach is designed to allow smooth and eff ective implementation, through adequate 
and timely receipt of funds.  
3.16.   In 2015 , the actual level of actual fund balance  started the year ahead of the targeted budget  
due to the carry forward of a s trong balance at the end of 2014  (179% of the targeted budget ).: 
a. 179% was  in the bank at 31  December  2014; 
b. 129% wa s in the bank at 31  March  2015; 
c. 135% was in the bank at 30  June 2015; 
d. 152% was in  the bank at 30  September  2015; 
e. 178% was  in the bank at 31  December  2015. 
3.17.   These percentages correspond to the cumulated am ount of contribution during the year 
without  taking expenditures into account.  
3.18.    The level of new contributions r eceived in 2015  was ultimately 17% higher  than in the 
previous year and the number of donors was stable.  
3.19.   Main activities implemented in 2 015, many of which were undertaken in partnership with 
other agencies and  bodies, include:  
3.2  General WTO -related technical assistance and training  
a. Seven two -month Regional Trade Policy Courses (RTPC). They covered Africa (French and 
English -speaking), Central and E astern Europe, Middle East, Asia/Pacific, the Caribbean 
and Latin America.  
b. Nine Geneva -based topic -specific symposia and two regional and sub -regional training 
courses of shorter duration.  
c. One short trade policy courses for Uruguay.  
3.3  Specialized and advance d technical assistance training  
a. Thirty -two topic-specific regional seminars (on Agriculture, Government Procurement, 
Non-Agriculture Market Access, Rules, Sanitary and Ph ytosanitary Measures, Services , 
Trade and Environment, Trade and Development, Trade Fa cilitation and Trade -Related 
Aspects of Intellectual Property).  
b. Five intensive courses on trade negotiation skills.  
c. One outreach activity  for parliamentarians and civil society.  
d. The establish ment or upgrading of Reference C entres in  Lebanon, Kyrgyz Republi c, 
Lesotho, Chad, Guinea, DR Congo, Cameroon, Uganda, and Equatorial Guinea.  
3.4  WTO Chairs Programme (Academic support ) 
a. One conference s and board meeting.  
b. WTO Grants to seven new WTO Chairs.  
c. The support programme for five doctoral students, instead of seven  last year.   WT/BFA/W/392/Rev.1  
 
- 36 - 
  
  3.5  Trainee programmes and internships  
a. Seven  Regional Coordinator Internships.  
3.6  E-learning  
3.20.   In 201 5, E-Learning continued to deliver its online courses throughout the year in the three 
official languages to respond to the increasing demand for E -Learni ng courses from Members and to 
better contribute to the capacity building of the WTO in  line with the PLS Progressive Learning 
System  (PLS)  and Result Based Management (RBM).  
3.21.   At the beginning of May, the WTO E -Campus website  was hacked. Following this sec urity 
breach, access to the online registration, monitoring and interactive activities was unavailable for 
one month period, which had significant impact on the E -Learning programme results in the first half 
of 2015 .  
3.22.   In 2015 , the good quality of the train ing resulted in an excellent output.  The number of 
successful participants increased to 46 99 participants (1% increase compared to 2014 ) and the 
share of successful participants that obtain ed a certificate with distinction remain ed at 35%. The 
statistics h ighlight the trend toward quality training through  E-Learning over the past five years.  
3.23.   In 2015, three new courses were launched: "A short trip through TRIPS", "Copyright in the 
WTO" and "The WTO Dispute Settlement", all of them at level 2 of the specializ ed path in the PLS.  
The courses in the WTO online programme are also being updated to include new developments and 
to introduce new E -Learning methodologies.  
3.24.   In 2015 , synergies were developed between E -Learning and other WTO TA programmes such 
as the WTO Netherlands Trainee Programmes , The French Irish Internships Programme or the 
Regional Coordinator Internships Programmes  (RCPs) . Following the successful implementation of a 
joint delivery of online introduction courses by the E -Learning and selected inter ns from the 
Netherlands Trainee Programme (NTP) in 2014, eight interns were involved as Assistant T utors in 
the organization of a number of 2015 online courses.  Indeed eight NTP interns worked as assistant 
tutors in the E -Learning Unit, to the benefit of b oth programmes.  Participants' feedback shows that 
the quality of the training material was highly appreciated in 2015.91% of participants rated the 
quality of the c ourse content good or excellent; 82% of rated the balance between theory, case 
studies and e xercises good or excellent. In their feedback, participants suggested  shorter and more 
specialized courses covering Trade Facilitation and Trade Policy Reviews.  This will be taken into 
account when developing new materials in the 2016 -2017 biennium.  
3.25.   Tailored virtual classrooms for face -to-face activities have been implemented in 201 5. An 
Alumni platform for interns was tested with a view to offering Alumni platforms to different types of 
face-to-face TA programmes in 2015 - as a follow -up activity and way to develop WTO TA 
communities and networks.  
3.26.   Efforts have been made to develop new courses in partnership with regional institutions.  The 
E-Learning team worked in cooperation with the WTO SPS team and provided modules on the WTO 
SPS agreement for a joint course on SPS for the Latin American region in collaboration with  the 
Inter-American Development Bank (IADB).The course will be finalized once the IADB inputs on the 
regional dimension are made available. The regional dimension continued to be  introduced i n 2015 
through interactive activities targeted to specific regions or groupings.  Two discussion  sessions were 
focused on Africa and the LDCs in 2015.These targeted activities were well received by participants; 
more similar activities in the forum with a r egional dimension will therefore be launched in 2016.  WT/BFA/W/392/Rev.1  
 
- 37 - 
 
  Table 22 Number  of participants who successfully completed an E -Learning course  
Year Number of participants  
2011 2,890  
2012 3,023  
2013 5,645  
2014 7,590  
2015 7,523  
 
3.27.   Africa remains the region with the  highest number of participants, with those from Fre nch-
speaking Africa represent ing 23% of all participants. Participation from Latin -America decreased  by 
16% and represent ed 20%. Almost o ne third of all participants are from an  LDC. 60% of the 
participants followed courses in English, 22% in French and 18% in Spanish . 
3.7  Evaluation of WTO Trust funds Activities (TEVAL)  
3.28.   The ITTC coordinated with donors and beneficiaries on an external evaluation of the WTO's TA 
activities . A specifi c fund has been created  for this purpose: the TEVAL cover s the expenses for 
external evaluation of all WTO trade related technical assistance activities. Its budge t for the 
financial year 2015 was  CHF 215,000 .  However there were no expenses during this pe riod. Indeed 
it is expected that these activities will be implemented  in 2016.  
3.8  The French Irish Internship Programme  (TIMM1)  
3.29.   The French Irish Internship Programme aims  (i) to enhance the interns' knowledge and 
understanding of the multilateral trading syst em and of trade policy in general; (ii) to strengthen the 
understanding of the negotiation process at th e WTO; and (iii) to support Mission s in participating 
more actively in the daily activities at the WTO.  
3.30.   The interns work in their own country Mission in  Geneva and not in the WTO Secretariat 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.  
3.31.   The progr amme is open to nationals of developing and LDCs as well as economies in 
transition , with a  Mission  in Geneva . The required qualificati ons include: (i) a degree in economics, 
trade and/or law at the post -graduate level; (ii) mastery of one of the WTO worki ng languages and 
preferably a good knowledge of another; (iii) working experience in the national administration in 
the trade -related area; (iv) good drafting skills; and (v) operational familiarity with standard 
software packages.  
3.32.   Interns are selected by the Institute for Training and Technical Cooperation and the Human 
Resources Division of the WTO together with the Mission concerned. The selection criteria are similar 
to those for entry -level positions at the WTO. Special consideration is given to those candidates who 
will be using their experience upon returning to their country. LDCs and other developing countries 
with low per -capita GNP and those countries wit h very few staff posted to G eneva Missions are given 
preference.  
3.33.   The beneficiary Mission estab lishes 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.  
3.34.   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/392/Rev.1  
 
- 38 - 
  
  c. assistance in preparation of reports for the capital, documents and communications of 
economic and/or legal nature related to the WTO;  
d. assistance  in other tasks undertaken by the Mission.  
3.35.   The evaluation of the intern's work by the Mission takes place at mid -term and at the end of 
the assignment a nd is shared with the WTO. Further evaluation of the usefulness of this programme 
takes place one year after the end of the internship . 
3.36.   In 2015 , this fund financed the costs related to 17  interns from the following countries: 
Burundi, Congo, Côte d'Ivoir e, Fiji, Georgia, Lao People's D emocratic Republic, Liberia, Mali, Nepal, 
Nigeria, Pakistan, Sierra Leon e, Sri Lanka, Sudan, Tanzania, Togo  and Vanuatu.  
Table 23 The French Irish Internship Programme  (TIMM1)  
Expressed in ('000 CHF)  2015 2014  
Funds as at 1  January  1,254  1,405  
Contributions received  808 789 
Interest earned  - 2 
Total funds  2,063  2,196  
Total expenditures  -934 -942 
Balance as at 31  December  1,129  1,254  
 
3.9  Netherlands Trainee Programme (TNL05)  
3.37.   The Netherlands Train ee Programme was launched on 1  April 2005 and was to be completed 
by 31  December  2008. In November  2008, the Government of the Netherlands extended th is 
programme for four more y ears, 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.  
3.38.   The objective of the Programme is to generate tangible, measurable and lasting capacity 
building in areas  related to trade policy in least -developed countries, low income countries and 
comparable poor and vulnerable economies with particular attention given to African countries to 
assist in their economic and social development.  
3.39.   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, university graduates,  
participants in trade policy courses and other suitable candidates with adequate knowledge of the 
WTO.  
3.40.   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 the on -going negotiations. Examples include:  
a. undertaking a need s assessment 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, e.g. tabling an initial or improved offer 
in services;  
c. fulfilling outstanding notification obligations and assisting in the implementation of 
commitments for new, recently acceded Members;  
d. assisting acceding  countries in this process;  
e. assisting in the preparation of trade policy reviews;  
f. undertaking other tasks, which would contribute to a better and fuller participation of the 
beneficiary country in the Multilateral trading System (MTS);  
g. assisting WTO Divisi ons in specific tasks.  
3.41.   The candidates are selected by the Secretariat, from applications and nominations proposed 
by the beneficiary countries.  WT/BFA/W/392/Rev.1  
 
- 39 - 
 
  3.42.   Trainees work full -time at the WTO  Secretariat and carry out tasks and duties assigned to 
them but with no expec tation of renewal or extension of the traineeship beyond ten months. 
Following the completion of their as signments, trainees are required  to provide an evaluation report 
with detailed information of the tasks accomplished and an assessment of their relevan ce for the 
candidate and the beneficiary country.  
3.43.   The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 1 44 at the end of 2015 . 
3.44.   In 2015, this fund financed the costs related to one regional seminar about Clingendael Policy 
Trends and Trends in Interna tional Trade, and financed 14 interns from the following countries:  
Afghanistan, Azerbaijan, Bhutan, Botswana, Cameroun, Congo, Haiti, Madagascar, Niger, Rwanda, 
Saint Kitts and Nevis, Uganda, Yemen and Zimbab we. 
Table 24 Netherlands Trainee Programme (TNL05)  
Expressed in ('000 CHF)  2015 2014  
Funds as at 1  January  1,102 143 
Contributions received  875 1,750  
Interest earned  - 1 
Total funds  1,977 1,894  
Total expenditures  -840 -792 
Balance as at 31  December  1,137 1,102  
 
3.10  Trade Facilitation Agreement Facility (TTFAF)  
3.45.   At the end of December 2014 the two previous WTO Trade Facilitation Trust Fund (TTFN G) 
and Trade Facilitation National Needs Assessments ( TTFNA ) programs have been closed a nd 
replaced by t he Trade Facilitation Agreement Facility  (TTFAF) . 
3.46.   The purpose of the TTFAF is to h elp developing countries  and least developed countries to 
implement the Trade Facilitat ion Agreement . 
3.47.   The objective  is to assist developing co untries and LDCs helping them to identify sources of 
existing capacity building assistance , in order to implement the Agreement on Trade Facilitation, and 
provide funding to these countries  should they be unable to access existing assistance.  The facility 
will complement existing support efforts and enhance their effectiveness, and make support 
available in instances where potential recipients have e arlier failed to secure assistan ce from other 
donors.  
Table 25 Trade Facilitation Agreement Facility (TTFAF)  
Expressed in ('000 CHF)  2015  
Funds as at 1  January  1,304  
Contributions received  3,098  
Interest earned  0 
Total funds  4,402  
Total expenditures  -281 
Balance as at 31  December  4,082  
 
3.11  Ministerial Conference – Participation of Least -Developed Cou ntries  
3.48.   Since the first WTO Ministerial Conference held in Singapore in 1996, the WTO Secretariat has 
facilitated the participation of Least -Developed Countries (LDCs) in the Min isterial Conferences, 
funded from  voluntary contributions pooled into a specia l extra -budgetary fund.  Costs related to air 
travel, accommodation and per diem allowances of LDC delegations comprised of one Minister and 
two high level officials are covered.  In 2015 the 10th Ministerial Conference took place in Nairobi, 
Kenya .  WT/BFA/W/392/Rev.1  
 
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  Table 26 Ministerial Conference – Participation of Least -Developed Countries (TMI 10) 
Expressed in  ('000 CHF)  2015  2014  
Funds as at 1 January  - - 
Contributions received  454 - 
Interest earned  - - 
Total funds  454 - 
Total expenditures  -454 - 
Balance as at 31  December  - - 
3.49.   At the en d of a given Ministerial Conference , the remaining balances in favour of the various 
donors are traditionally carried forward and added to the new contributions to be utilized for the 
same purpose in the subseq uent Conference unless the donor requests a reimbursem ent. At the  end 
of 2015  after the conclusion of the Ministerial Conference the funds were  fully utilized . 
3.12  Standards and Trade Development Facility (TWB01)  
3.50.   The Standards and Trade Development Facility (S TDF) is a global partnership and trust fund, 
established by the Food and Agriculture Organization (FAO), the World Organization for Animal 
Health (OIE), the World Bank, the World Health Organization (WHO) and the WTO, that supports 
developing countries in building their capacity to implement international sanitary and phytosanitary 
(SPS) standards, guidelines and recommendations as a means to improve their human, animal and 
plant health status and ability to gain and maintain access to markets. Other organi zations involved 
in SPS -related technical cooperation, donors contributing to the STDF and developing country 
experts participate actively in its work3.The STDF is managed by the WTO.  
3.51.   In line with the STDF's new medium -term strategy, various efforts were u ndertaken to 
promote collaboration among STDF partners and further strengthen the STDF as a knowledge 
platform and reference point for the exchange of information and experiences and the identification 
and dissemination of good practice. The Secretariat al so participated in a number of conferences, 
training workshops and other information sessions and meetings to promote coherence and 
synergies in the design and delivery of SPS projects and initiatives.  
3.52.   Throughout the year, a wide variety of proposals and i deas for projects were received and 
discussed with potential beneficiaries, ranging from one -page concept notes to fully -fledged project 
documents. 18 applications for project preparation grants (PPGs) and twenty -one project 
applications were received. T he STDF Working Group approved five PPGs and five  projects for 
funding. The total STDF contribution to these projects amounted to US$4 .2M which  was higher than 
the forecast  at the start of the year ( US$3.2M ). All projects were collaborative, innovative and/o r 
regional in nature. More and recurrent PPG applications could be expected if bilateral donors would 
be able to increasingly (co -) fund resultant projects.  
3.53.   Four projects were completed and achieved good immediate results. The  STDF continued to 
meet its ta rget to dedicate at least 40% of its  project resources to LDCs and other low income 
countries (OLICs). Monitoring project implementation, however, remained chal lenging and 
resource -intensive.  
3.54.   Three  projects and four PPG  (project preparation grants)  were approved  to be contracted 
within 12 months . 
                                                
3 Further information on  the STDF and its activities, background documents, etc. is available on the STDF 
website ( http://www.standardsfacility.org/en/index.htm ). WT/BFA/W/392/Rev.1  
 
- 41 - 
 
  Table 27 Standards and Trade Development Facility (TWB01)  
Expressed in ('000 CHF)  2015  2014 
Funds as at 1  January  8,607 9,325  
Contributions received  4,558 4,344  
Interest earned  - 10 
Total funds  13,166  13,679  
Contracted commitments  -6,506 - 
Expenditures  -4,534 -5,072  
Balance as at 31  December  2,124  8,607 
 
3.13  China LDCs and Accessions Programme (TCLAP)  
3.55.   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 impro ve their capacity for accession . 
3.56.   The fund received contribution s approximating  CHF 485,000 from China.  This helped to 
finance  five workshops  in 20 15: three China round tables on  the WTO accession, and two DG 
Consultative Frameworks Mechanisms on Cotton for four African countries.  
3.57.   In accordance with Annex III of the related Memorandum of Understanding (MoU), seven  10-
month internship positions were m ade available , in comparison to  five in 2014.  No additional funds 
were received in 2015 ; however the ending balance of the fund as of 31 December 2015 was CHF 
385,000. 
Table 28 China LDCs and Accessions Programme (TCLAP)  
Expressed i n ('000 CHF)  2015  2014  
Funds as at 1  January  383 477 
Contributions received  485 - 
Interest earned  - - 
Total funds  868 477 
Total expenditures  -483 -94 
Balance as at 31  December  385 383 
 
3.14  Enhanced Integrated Framework Executive Secretariat (TIFES)  
3.58.   The Enhanced Integrated Framework (EIF) is an initiative to provide trade -related technical 
assistance to the worl d's poorest countries as a mean  of integrating them fully into the Multilateral 
Trading System. Its Executive Secretariat was established in 200 8 and is housed at the WTO. The 
International Bank for Reconstruction and Development, the International Monetary Fund, the 
International Trade Commission, the United Nations Conference on Trade and Development, the 
United Nations Development Programme and  the World Trade Organization (collectively "EIF 
Agencies"), EIF Least -Developed Countries ("EIF LDCs") and all donors constitute the partners of the 
EIF. The EIF is regarded as one of the most successful initiatives under the overall umbrella of Aid 
for Trade. 
3.59.   EIF funding is channelled through two sources: the multilateral EIF Trust Fund managed by 
the United Nations Office for Project Services (UNOPS) and bilateral/regional donor support direct to 
the beneficiary countries. The EIF Trust Fund makes an ann ual allocation to the WTO to cover the 
operating expenditures of EIF Executive Secretariat .  WT/BFA/W/392/Rev.1  
 
- 42 - 
  
  Table 29 Enhanced Integrated Framework Executive Secretariat (TIFES)  
Expressed in  ('000 CHF)  2015  2014  
Funds as at 1  January  2,108  1,182  
IPSAS adjustments  - - 
Contributions received  2,725  4,863  
Interest earned  - 4 
Total funds  4,834  6,049  
Total expenditures  -4,235  -3,941  
Balance as at 31  December  599 2,108  
 
3.15  Independent Entity – Pre-Shipment Inspection – Deposits (T0013)  
3.60.   Independent Ent ity (IE) is a mechanism for settling disputes between exporters and 
pre-shipmen t inspection companies/agencies. It is  constituted by the WTO, International Chamber of 
Commerce (ICC) and International Federation of Inspection Agencies (IFIA) and  is establis hed under 
Article 4 of the Agreement on Pre -shipment Inspection.  
3.61.   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.  
3.62.   The fund was never used since its establishment.  
Table 30 Independent Entity – Pre-Shipment Inspection – Deposits (T0013)  
Expressed in  ('000 CHF)  2015  2014  
Funds as at 1  January  88 88 
Interest earned  - - 
Total funds  88 88 
Total expenditures  - - 
Balance as at 31  December  88 88 
3.16  Programme Support Fund (EPSF1)  
3.63.   Prior to  1999, the 13% overhead fees charged on direct costs incurred in all Trust Funds 
administered by the WTO were being credited to the regular budget as miscellaneous income. Since 
1999, they are being channelled through a special fund created to colle ct them, the Programme 
Support Fund (PSF). According to its terms of reference, the funds should be used to finance 
expenses of a general nature, i.e. not related to any specific technical assistance project, which 
support technical assistance activities o f the WTO as a whole , due to the fact that  the WTO does not 
have the means to evaluate and underwrite the administrative support staff costs as direct charges 
to each extra -budgetary fund.  
3.64.   The WTO may allocate the 13% overhead fees charged to various trust  funds that it manages 
with implementing partners.  
3.65.   10 % of the expenses in the PSF are  statutorily credited back to the WTO regular budget as a 
token 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.  
3.66.   In 2015 , 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.  
3.67.   The fixed -term and short -term from contracts financed PSF included the following positions:  
a. Four fixed term support staff members in the ITTC of which two in Logistics U nit. 
b. Two fixed term support  staff members in  the Budget and Finance Section.  WT/BFA/W/392/Rev.1  
 
- 43 - 
 
  c. Three  fixed term professional staff members in the Economic R esearch and Statistics 
Division.  
d. Two fixed term support s taff members in the Information Technology Solutions Divisio n. 
e. One short term support st aff members in the Human Resources Division; one short term in 
the Trade Facilitation Section as logistic.  
Table 31. Programme Support Fund (EPSF1)  
Financial Report Summary ('000 CHF)  2015  2014  
Funds as at 1  January  978 998 
Overhe ad fees collected  2,301  2,301  
Overheads – Shared with Partners  -278 -433 
Total funds  3,000  3,005  
Total expenditures  -2,087  -2,027  
Balance as at 31  December  914 978 
  WT/BFA/W/392/Rev.1  
 
- 44 - 
  
  4  FINANCIAL STATEMENTS  
4.1  Management letter of representation  
4.1.  The Management of the WTO S ecretariat is responsible for these financial statements, which 
have been prepared in accordance with the Organization's Financial Regulations and Rules, and the 
decision of the General Council to implement International Pub lic Accounting Standards in 2012. The 
financial disclosures in this report are intended to fairly present the Organization's financial results in 
a manner that is complete and understandable.  
4.2.  The Management is responsible for establishing and maintaining adequate internal control over 
financial reporting so as to provide reasonable assurance regarding the reliability of these financial 
statements for external purposes. This includes policies and procedures that 1) provide for the 
maintenance of records that accurately and fairly reflect t he transactions of the Organization, 2) 
provide reasonable assurance that transactions are authorized and recorded in compliance with the 
Organization's Financial Regulations and Rules and 3) provide reasonable assurance regarding the 
prevention or timely detection of unauthorized acquisition, use or disposition of the Organization's 
assets. However, due to the inherent limitations of internal control over financial reporting, these 
controls may not prevent or detect all misstatements.  
4.3.  Based on the above, t he Management has concluded that these financial statements present 
fairly the Organization's financial position and pe rformance as of 31  December  2015. These 
statements have been audited by external auditors appointed by the General Council, and their 
report appears on the following page.  
 
 
 
 
  
__________________________________  
 __________________________________  
 
 
 
 Roberto Azevêdo  Francesco Perlini  
 Director -General  Finance Officer, Chartered Accountant  
  Administration and General  
  Services Division  WT/BFA/W/392/Rev.1  
 
- 45 - 
 
  4.2  Opinion of the external auditor  
BUNDESRECHNUNGSH OF -SUPREME AUDIT  
INSTITUTION OF GERMA NY 
 
 Bonn, 31 May 2016  
 
 
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 2015, 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 2015.  
 
Please accept , Sir, the assuran ce of my highest consideration.  
 
Statement of Responsibilities  
 
In accordance with WTO´s Financial Regulations, the Director -General is responsible for preparing 
the financial statements in accordance with the Organisation`s Financial Regulations and 
International Public Sector Accounting Standards (IPSAS) or Interna tional Financial Reporting 
Standards (IFRS) where these standards apply.  
My responsibility is to express an opinion on these financial statements based on my audit.  
 
Basis of Opinion  
 
I conducted my audit in conformity with International Standards on Audit ing (ISA) 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 r easonable assurance about whether the financial statements are 
free from material misstatement. An audit includes examining, on a test basis, evidence supporting 
the amounts and disclosures in the financial statements. An audit also includes assessing the 
accounting principles used and significant estimates made by the Director -General, as well as 
evaluating the overall financial statement presentation. I believe that my audit provides a 
reasonable basis for the audit opinion.  
 
Opinion  
 
As a result of my au dit, I am of the opinion that the financial statements present fairly the financial 
position as at 31 December 2015, that they have been prepared in accordance with International 
Public Sector Accounting Standards (IPSAS) and WTO´s stated accounting polici es, and that the 
transactions have been in accordance with the Financial Regulations.  
 
I have placed an unqualified opinion on WTO’s financial statements for 2015.  Please accept, Sir, the 
assurance of my highest consideration.  
 
 
 
 
 
 Christian Ahrendt  
 Vice-Preside nt of the Bundesrechnungsh of 
 Supreme Audit Institution of Germany  
 External Auditor   WT/BFA/W/392/Rev.1  
 
- 46 - 
  
  4.3  Financial statements  
Table 32 Statement of Financial Position  
Expressed in '000 CHF  Note  31/12/2015  31/12/2014  
    
ASSETS     
Current ass ets    
Cash and cash equivalents  4  120,620   107,708  
Receivables from Members  5  14,406  9,875  
Receivables from Observers  5 590  517  
Inventories  6 388  362  
Other receivables  7  5,595  3,614  
Advances and prepayments  8  5,288  5,236  
Total Curre nt Assets    146,888  127,312  
    
Non -current assets     
Building  9  127,345   118,378  
Equipment  9  15,436  16,925  
Intangible assets  10 515  558  
Pension Plan Assets  14  496,266   487,631  
Total non -current assets    639,562  623,492  
    
Total a ssets     786,449  750,805   
    
LIABILITIES     
Current liabilities     
Payables  11  6,554  3,505   
Accruals  11  2,771  973  
Assessed contributions received in advance  12  16,310  13,887  
Voluntary Contributions refundable to donors  13  35,670  32,577  
Short -term employee benefits  14  12,644  12,573   
Grant  15 135   
Total current liabilities    74,083  63,515  
    
Non-current liabilities     
Loan  15  56,400  57,600  
Pension benefits  14  855,635  1,209,593  
After Service Health Insurance benefits  14  245,531   342,853  
Other Long -term employee benefits  14  9,262  10,565  
Funds  17  8,149  4,321  
Total non -current liabilities   1,174,977  1,624,932   
Total liabilities    1,249,059  1,688,447   
    
Net assets/equity   -462,610  937,64 1 
    
NET ASSETS/ EQUITY     
Working Capital Fund  16  10,778  10,672  
Actuarial gain/(loss)  14 248,245   -226,093  
Accumulated surplus   -778,030   -770,707  
Provision for right of use - CWR 9  59,798  48,485  
Extra Budget Fund Allocation   -3,400   -  
Total net assets/equ ity  -462,610   -937,64 1 
 
 
 WT/BFA/W/392/Rev.1  
 
- 47 - 
 
  Table 33 Statement of Financial Performance  
 Notes  31/12/2015  31/12/2014  
 REVENUE     
Contributions assessed on Members  18  195,575  195,554  
Contributions of Observers  18 652   689  
Voluntary contri butions on trust funds  18  20,517  21,193  
Revenue from publications  18 684   590  
Other revenue  18  2,766   586  
Extraordinary revenue MTOF  18  -  2,527  
WTO Pension Plan revenues  18  19,178  20,543  
    
Total revenue    239,374  241,682  
    
EXPENS ES    
Staff Expenditure  19 -134,668  -129,447  
Actuarial cost for ASHI  19 -14,755  -11,497  
Actuarial cost for pension  19 -18,846  -33,775  
Temporary Assistance  19 -20,622  -20,631  
Supplies and other General Service Costs  19 -16,328  -14,687  
Travel & Hos pitality  19 -12,832  -12,319  
Implementing Partners  19 -4,727  -5,610  
Contribution to ITC  19 -18,470  -18,470  
Ministerial Conference Operating Fund (variation)  19 600   -600 
Appellate Body Operation Fund (variation)  19 -289  -111 
Depreciation  19  6,340  -5,525  
Provision for contribution in arrears  19 902   -26 
Depreciation of provision for right of use - CWR 19 -11,313   606  
Finance Costs  19  -79  -39 
Write off and Previous year adjustments  19 -1,155   -  
Loss on foreign exchange transactions  19 283   272  
    
Total expenses    -245,959   -251,859  
    
Surplus/(deficit) for the period    -6,586   -10,177  
 
  WT/BFA/W/392/Rev.1  
 
- 48 - 
  
  Table 34 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION  
AS AT DECEMBER 31, 2015 (CHF)  
Expressed in '0 00 CHF   WCF Actuarial 
loss 
  Ac. 
Surplus/ 
Deficit  right of 
use 
  BRF 
Budget 
earmark   Total Net 
Assets/ 
Equity  
Balance at 01/01/2014   10,616  155,465  -760,530   -   -   -594,449  
Increase in WCF    56       56  
Actuarial loss    -381,558     -381,558  
Surplu s/Deficit for the period      -10,177     -10,177  
   
10,672  -226,093  -770,707      -937,641  
Balance at 31/12/2014   10,672  -226,093  -770,707  48,485  
-   -   -937,641  
Increase in WCF    106       106  
Actuarial loss    474,338      474,338  
Recognition righ t of surface      11,313    59,798  
BRF Budget allocation       -3,400   -3,400  
Utilisation of pre -IPSAS surplus      -740    -740 
Surplus/Deficit for the period     -6,586     -6,586 
Balance at 31/12/2015   10,777   248,245  -778,03 1 59,798  -3,400  -462,610  
 
 
 
 
 
 
 WT/BFA/W/392/Rev.1  
 
- 49 - 
 
  Table 35 Cash Flow Statement (Indirect method)  
WORLD TRADE ORGANIZATION      
AS AT DECEMBER 31, 2015 (CHF)      
Expressed in '000 CHF    
Cash flows from operating activities  2015  2014  
   
Surplus/Deficit from ordinary activi ties -6,586 -10,177  
Depreciation and amortisation  -6,340  5,525  
Right of use - CWR 11,313  -606 
Provision for contribution in arrears  -902 26 
(Increase) / decrease in receivables from Members and Observers  -3,702  2,878  
(Increase) / Decrease in inventori es -26 36 
(Increase) / Decrease in other receivables  -1,981  1,943  
(Increase) / Decrease in pension assets  -8,635  -46,363  
(Increase) / Decrease in advances and prepayments  -52 -194 
Increase / (Decrease) in payables  3,049  608 
Increase / (Decrease) in ac cruals  1,798  -196 
Increase / (Decrease) in contributions received in advance  2,423  5,912  
Increase / (Decrease) in voluntary contributions refundable to 
donors  3,093  -1,039  
Increase / (Decrease) in grant  135 0 
Increase / (Decrease) in employee benefits  -452,513  453,270  
Increase / (Decrease) in funds  3,828  -1,683  
Increa se/ (Decrease) IPSAS Opening Balance  -740 0 
Actuarial Gain / (Loss)  474,338  -381,558  
Increase/(Decrease) Extra Budget Allocation  -3,400   
Net cash flows from operating activities  15,101  28,382  
   
Cash flows from investing activities    
Purchase of property, plant and equipment  -1,139  -2,693  
Purchase of intan gible assets  43 -362 
Net Cash flows from investing activities  -1,095  -3,055  
   
Cash flows from financing activities    
Increas e of loans  -1,200  -1,200  
Increase in Working Capital Contributions  106 56 
Net cash flows from financing activities  -1,094  -1,144  
   
Net Increase /(Decrease) in cash and cash equivalents  12,912  24,183  
   
Cash and cash equivalents at beginning of perio d 107,708  83,525  
    
Cash and cash equivalents at end of period  120,620  107,708  
 
 
 
  WT/BFA/W/392/Rev.1  
 
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  4.4   Notes to the financial statements  
4.4.1   Note 1 Accounting policies  
4.4.1.1   Basis of preparation  
4.4.  The financial statements of the Secretariat of the World Trade Organization (WTO) hav e 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.  
4.4.1.2   Consolidation  
4.5.  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.  
4.6.  The International Trade Centre UNCTAD/WTO (ITC) is the joint technical co -operation agency 
of the United Nations (UN) and the WTO for Trade Related Technical Assistance (TRTA). Originally 
created by the General Agreement on Tar iffs and Trade (GATT) in 1964, 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, the ventures GATT and UNCTAD 
were both under the United Nation system reporting to the final end to the General Assembly. 
Under these conditions ITC was deemed  to be a jointly controlled e ntity as defined by IPSAS 6 
and 8. 
4.7.  The replacement of GATT with WTO in 1995, determined on one side the establishment  of 
WTO as a new International Organization, independent both politically and economically from the 
United Nations System. On the other side, the role assumed by ITC across the years, made IPSAS 
principles on consolidations disputable  due to the absence of  elements such as economic return, 
power and control over the entity. Being financed by 50%  from WTO and by 50% from UN, ITC  
might fall under the category of a  grant taker organization rather than a joint controlled entity.  
4.8.  IPSAS principles on consolidatio n have also evolved in 2015 and have beco me stricter in 
terms of method of consolidation for jointly controlled entities . Due to this evolution, the 
consolidation of the accounts shall be done only with the equity method . This is problematic  due to 
the acc ounting structure of WTO and ITC and as no participation is recognized among the assets of 
WTO.  
4.9.  In addition the new principles clarify several aspects such as power of control, economic 
return, material influence among others that pose the WTO in a positio n for non -consolidating the 
accounts for the following reasons:  
a. The time -frame for publications of the audited accounts of WTO and ITC does not allow a 
consolida tion of the current year (2015) . This  implies  that the only data available for ITC 
is that pert aining to the previous year (2014).  
b. ITC in accordance with the other international organizations belonging to the UN system 
derogated from IPSAS 25 employee benefits and did not discounted the pension 
liabilities which significantly a ffected the val ues of the financial statements . 
c. There is no economic return from the WTO contributi ons to the ITC Regular Budget. 
There fore ITC cannot be considered an investment. Moreover there is no material  control 
over ITC as would be required in order for the relevant IPSA S standards on consolidation 
to apply.  
4.4.1.3   Foreign currency  
4.10.   The functional and reporting currency of the WTO is Swiss francs (CHF). Transactions 
denominated in foreign currencies (other than assessed contributions from Members and 
Observers), are converted in to CHF using the official United Nations exchange rate at the date of WT/BFA/W/392/Rev.1  
 
- 51 - 
 
  the transaction. For assessed contributions received in a currency other than CHF, they are 
converted and credited at the bank rate of exchange applicable at the value date. Monetary ass ets 
and liabilities in currencies other than CHF are translated into CHF at the year -end United Nations 
exchange rate.  
4.11.   Foreign exchange gains and losses resulting from the settlement of foreign transactions and 
from the translation at year -end UN exchange rate of monetary assets and liabilities in foreign 
currencies are recognised in the statement of financial performance.  
4.4.1.4   Segment reporting  
4.12.   A segment is a distinguishable activity or group of activities for which financial information 
is reported separately.  WTO activities are classified into two segments: i) regular budget & ii) trust 
funds.  
4.4.1.5   Use of estimates  
4.13.   The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. The areas where estima tes are used include but are not 
limited to post -employment benefits obligations, provisions for litigation, accrued charges, financial 
risks on inventories and accounts receivable, expenses relating to the International Trade Center 
and International Comp uting Center contributions, contingent assets and liabilities and the degree 
of impairment of fixed assets. Actual results could differ from these estimates. Changes in 
estimates are reflected in the period to which they become known.  
4.4.1.6   Cash and cash equival ents 
4.14.   Cash and cash equivalents comprise cash in hand and cash accounts at banks. Cash and 
cash equivalents that can only be used for a specific purpose (Working Capital Fund) are 
considered as restricted.  
4.15.   The Cash flow statement is prepared using the indir ect method.  
4.4.1.7   Receivables  
4.16.   Receivables are recognised at nominal value less any allowances for estimated irrecoverable 
amounts. Discounting on receivables is not applied unless the effect is significant.  
4.17.   The methodology of provision for assessed outstanding c ontributions from Members and 
Observers is based on the number of years of outstanding contributions aligned to the principles 
established by the General Council on Administrative Measures.  
Table 36 Level of Provisions on Outstandin g Contributions  
Members and Observers with outstanding 
contributions at year -end Level of the provision  
> 3 years  100%  
> 2 years  75% 
> 1 year  50% 
≤ 1 year  0% 
 
4.4.1.8   Advances and prepayments  
4.18.   Discounting on advances and prepayments is not applied unless the e ffect is significant.  
4.4.1.9   Inventories  
4.19.   Inventories include the value of publications and souvenirs held for sale and the ones 
distributed free of charge. The cost of acquired publications and souvenirs include s the purchase 
price as well as the transport costs.  The cost of publications produced in house includes the costs  WT/BFA/W/392/Rev.1  
 
- 52 - 
  
  of supplies (paper), the cost of the rental of equipment (including maintenance and ink) as well as 
the labour cost. For in house publications sent to our distributor storage place, the cost in cludes 
also the transportation costs. The cost of inventories is assigned in line with the weighted average 
cost formula.  
4.20.   An annual physical inventory is conducted for the stock of publications and souvenirs held in 
house and at our distributor storage. At  the end of each year, items either damaged or obsolete 
are written off to reflect net realizable value.  
4.4.1.10   Property, plant and equipment  
4.21.   Property, plant and equipment are recognised at historical cost less any accumulated 
depreciation and impairment loss. Th e following thresholds are defined for the recognition of 
Property, plant and equipment:  
 Any asset with a value above CHF  5,000 is fully capitalized when acquired individually.  
 Any asset with a value above CHF 2,500 is fully capitalized when acquired as pa rt 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. Otherwise, it is considered as an expense.  
4.22.   Property is recognised at cost. All classes of equipment have been recognised 
retrospectively, except for furniture. Only furniture equipment acquired since 2007 has been 
accounted for in the opening balance. The Organization is using for this class of asset the 
transi tional provision (IPSAS 17, par.  95). The Organization has also not been able to recognised 
the directly attributable costs of an equipment (such as consulting costs) when they were 
separ ately invoiced.  
4.23.   In kind contributions relating to property, plant and equipment, such as the donated surface 
right to use the land (droit de superficie) on which WTO headquarters stand, are recognised in the 
financial statements and disclosed in the notes.  
4.24.   Depreciation is provided for property, plant and equipment over their estimated useful life 
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 depreciat ed since 1 January 2013.  
4.25.   The useful of major classes of assets have been estimated as follows:  
Table 37 Class of Assets  
Class  Estimated useful life (years)  
CWR Building  99 years  
Building structure  50 years  
Building carpentry  25 years 
Waterproof  system , restoration, elevator  15 years  
Furniture  10 years  
Reproduction equipment  5 years or 10 years  
Audio -visual equipment  10 years  
Computer equipment  4 years  
Security equipment  10 years  
Artwork  10 years  
Windows and Heating  25 year s 
Vehicles  5 years  
 
4.26.   Damaged assets are impaired at year -end based on information received.  
4.27.   Heritage assets such as donated work of arts are not recognised in the financial statements.  WT/BFA/W/392/Rev.1  
 
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  4.4.1.11    Intangible Assets  
4.28.   Intangible assets are stated at historical cost les s 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 expensed during the year.  
4.29.   Maintenance and upgrade costs imposed by the s oftware company or other external factors 
are recognised as expenditure. The cost of software bought with hardware is included in the 
hardware cost.  
4.30.   Copyrights, preproduction costs for publications, WTO website costs and internal and 
external development c osts for databases are not recognised as intangible assets.  
4.4.1.12   Employee benefits  
4.31.   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 value s 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 leave 
or maternity leave), untaken annua l leave and other short -term benefits for international 
staff (education grant, home leave).  
b. Post-employment benefits comprise the estimated actuarial liability of defined -benefit 
plans for retirement benefits and the After  Service Health Insurance cover.  
4.32.   The actuarial liability is the present value of the defined benefit obligations (relating to 
pension and ASHI) at the reporting date. Similarly, the fair value of the WTO pension fund is 
shown among the non -current assets of the Financial Statements.  The a ssets of the Pension Plan 
shall be used totally and exclusively for the purposes of the Pension Plan's Regulations.  
4.33.   The WTO Pension Plan is a separate entity with its own management, governance processes 
and reporting mechanisms to the General Council. It produces its own financial statements that 
are reported and approved by the General Council, independently from the financial statements 
from the WTO Secretariat.  
4.34.   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.  
4.35.   Post-employment benefits include also removal indemnities for international staff and 
separa tion grants. They are calculated in house and are discounted using the same rate as the one 
used for the valuation of pension plan and ASHI.  
4.4.1.13   Provisions and contingent liabilities  
4.36.   Provisions are made for future liabilities and charges where the WTO has a pr esent legal or 
constructive obligation as a result of past events and it is probable that the WTO will be required to 
settle the obligation.  
4.37.   Other commitments, which do not meet the recognition criteria for liabilities, are disclosed 
in the notes to the fi nancial statements as contingent liabilities when their existence will be 
confirmed only by the occurrence or non -occurrence of one or more uncertain future events which 
are not wholly within the control of WTO.  
4.4.1.14   Tax 
4.38.   The WTO assets, income and other propert y are exempt from all direct taxation.   WT/BFA/W/392/Rev.1  
 
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  4.4.1.15   Revenue recognition  
4.39.   Revenue from assessed contributions as well as voluntary contributions are recognised as 
non-exchan ge 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 at the WTO are with conditions on their use. At the 
reception of the funds, the WTO recognises therefore an asset and a liability (voluntary 
contributions refundable to donors). Revenue is  recognised as the condition liability is 
discharged when carrying out the specified performance. Voluntary contributions are 
therefore recognised up to the amount expensed in the period.  
4.40.   Revenue from exchange transactions (mainly sale of publications, int erests earned and 
rental of meeting rooms) is recognised as goods or services are delivered.  
4.41.   In kind contributions of services are not recognised in the financial statements.  
4.4.1.16   Expenses  
4.42.   Under accrual accounting, expenses are recognised at the time of deliver y of goods or 
services by the supplier or service provider.  
4.43.   The WTO signs agreements with partners to implement trade related technical assistance 
activities. Recognition is based on the delivery principle. Most of the projects relate to activities 
which l ast 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.  
4.4.2   Note 2 Financial risks policy  
4.44.   The Organization is exposed to limited financial risks, in accordance with its Financial 
Regulations and Rules (WT/L/156/Rev.3 ): 
a. Counterparty risk : 
 The conservation of capital is the primary objective when investing funds. In order to 
limit counterparty r isk, funds are deposited with at least two internationally recognized 
financial institutions with rating equivalent to A+ or better.  
b. Foreign currency exchange risk : 
 The exposure to the foreign exchange rate risk is reduced by maintaining most funds in 
CHF, the Organization's base currency. The holding of funds in other currencies is 
permitted only to cover actual or anticipated commitments in those currencies.  
Speculation on exchange rates is strictly forbidden.  
c. Interest and market risks:  
 Interest and marke t 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 means: i) Interest bearing account; ii) Bank term deposit of up to a maximum 
durat ion of 24 months; iii) Straightforward money market investment funds, all with an 
overall rating equivalent to A+ or better.  
d. Liquidity risk:  
 The level of funds available shall be maintained to meet the payment requirements of the 
WTO Secretariat. The inves tment duration shall take into account the timing uncertainties 
on the receipt of Members contributions and the cash -flow requirements. Borrowing 
cannot be contracted with banks.  WT/BFA/W/392/Rev.1  
 
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  4.4.3   Note 3 Change s in the financial statements and relevant events in 2015  
4.4.3.1   Change  of actuarial assumptions  
4.45.   The valuation of the post-employment benefit obligations should reflect the term of the 
expected payments under the WTOPP and ASHI plans. The volatile evolution of their actuarial 
valuations during the last few years and their sig nificant impact on the financial results of this 
Organization demands control measures of the current actuarial practices and consideration of 
different actuarial assumptions.  
4.46.   In the context of highly volatile markets, the current practices of mark -to-market 
accounting approach for the discount rate could lead to a misconception of the value of the long 
term liabilities behind the WTOPP and ASHI plans  where actuarial gains or loss notably impact the 
overall related liabilities . For this reason the  method o f calculation of the discount rate  applied to 
Pension and ASHI  was reviewed in 2015  in order to reduce such volatility . 
4.47.   The new method applied in the financial statements 2015 is in compliance  with the 
reference interest rate for Swiss pension plans, which  is determined by the Swiss Chamber of 
Pension Fund Experts (CSEP). This is calculated as: two thirds according to the average 
performance of a representative pension fund index over the last 20 years, and one third 
according  to the yield on ten -year Feder al bonds less a margin of 0.5%. The result is  rounded 
down to the nearest 0.25% and would never be below the return of 10 -year government bonds.  
4.4.3.2   Introduction of negative interests  
4.48.   On the 15 January 2015, t he Swiss National Bank (SNB) announced that it disc ontinued its 
strategy of holding a minimum exchange rate of 1.20 Swiss francs (CHF) per E uro. At the same 
time, it announced that it was lowering the interest rate by 0.5 perc entage points, to −0.75% on 
certain account balances exceeding a given balance threshold.  
4.49.   As of 1 April 2015, the Secretariat's main banking services provider introduced an interest 
rate of -0.75% on the Secretariat's bank accounts in CHF for account balan ces exceeding 
CHF 50 million .  
4.50.   Due to this decision no  interest was available for distribution  to Members , as had been 
envisaged by  the early payment interest scheme.  
4.4.3.3   Building Infrastructure Contract  
4.51.   The building infrastructure contract, signed in August 2 013 was registered at the "register 
fonciere" on the 8th August 2015. From this date onwards, for a period o f 99 years, the WTO has 
exclusivity and right of use of the Centre William Rappard.  
4.52.    In accounting terms this event has generated a reverse of the a ccumulated depreciation for 
the Building Structure and a new calculation of the depreciation that begins on the date of the 
registration. Similarly the accumulated provision for the right of use (d roit de superficie) was 
reversed and its depreciation resta rted from the date of registration.   WT/BFA/W/392/Rev.1  
 
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  4.4.4   Note 4 Cash and cash equivalents  
Table 38 Cash Situation  
Cash and cash equivalent  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Cash in hand  10 10 
Cash at bank by currency  120,610  107,697  
Total C ash and Equivalent  120,620  107,707  
CHF 115,076  103,516  
USD 4,425  3,027  
EUR 844 962 
GBP 264 192 
Total cash and cash equivalent  120,620  107,708  
 
4.53.   The bank balance in CHF comprises restricted funds held by the Working Capital Fund for an 
amount of kCHF 1 0,710. 
4.54.   The increment in 2015 is mainly due to a cash deposit in CHF in the Credit Suisse and UBS 
Bank Account.  
4.55.   Bank accounts are held with UBS, Crédit  Suisse and the Swiss Post Finance Bank. The WTO 
negotiates interest rates on bank account deposits with t he banks in order to obtain competitive 
rate. 
4.4.5   Note 5 Receivables  from Members, Observers and Donors  
4.56.   Receivables from Members and Observers are classified as receivables from non -exchange 
transactions. They include receivable assessed contributions as well as receivable advances due to 
the Working Capital Fund. The details for due contributions from Members and Observers are 
presented in schedules  C and D, respectively.  
Table 39 Receivables from Members and Observers  
Expressed in '000  CHF 31/12/2015  31/12/2014  
Receivable Assessed Contributions Members  22,880  19,251  
Receivable Advances due to WCF  68 68 
Provision Contributions  -8,542  -9,444  
Total  14,406  9,875  
Receivable Assessed Contributions Observers  590 517 
Grand Total  14,997  10,392  
4.57.   A provision for outstanding contributions is calculated based on the aging of the 
contributions.  
Table 40 Provision for Arrears from Members and Observers  
Expressed in 
'000 CHF  Provision for 
outstanding 
contributions at 31 
December 2014  Adjustment of the 
provision during 
2015  Provision for 
outstanding 
contributions at 31 
December 2015  Amounts 
written off  
Members  9,078  -998 8,080  830 
Observers  366 96 462 0 
Total  9,444  -902 8,542  830 
 
4.58.   As of 31/12/2015, 7 members  with outstanding contributions of 3.5 MCHF  are following the 
payment plan approved by the General Council in 2012.  
4.59.   Compared to the previous year, 1 Memb er state with an outstanding contribut ion of  
1.0 MCHF  has not respected the instalments of the payment plan and 1  Member state had the 
payment plan annulled as of 1 January 2015.   WT/BFA/W/392/Rev.1  
 
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  4.4.6   Note 6 Inventories  
Table 41 Inventories per type  
Inventories  
Expressed in '000 CHF  31/12/2015  31/12/2014  
WTO publications and co -publications  306 321 
Non WTO publ ications  34 36 
Souvenirs  48 5 
Subtotal inventories (including adjustments and write offs)  388 362 
 
Table 42 Inventories per storage  
Inventories  
Expressed in '000 CHF  31/12/2015  31/12/2014  
External WTO Storage  128 152 
Internal WTO Storage  260 210 
Subtotal inventories (including adjustments and write offs)  388 362 
 
4.60.   Inventories consist of WTO publications, co -publications, other non -WTO publications and 
souvenirs held for sale and the ones distributed free of charges. Starting  in 2011, a part of the 
WTO publications and co -publications inventory is held at a third -party distribution storage facility . 
Table 43 Inventory Adjustments and write offs  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Adjustments  4 4 
Write offs  -33 -6 
Total Adjustments and write offs  -29 -2 
 
4.61.   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 adjustment is 
about 1 % of the total inventory and well within industry standards ranging around 5% of 
discrepancy.  
4.62.   Write -offs relate to obsolete inventories. The write off policy has been revised in 2011. 
Obsolete publications are identified by making a title by title analysis based on statistics of the last 
three years sales and distribut ions. 
4.4.7   Note 7 Other receivables  
Table 44 Other Receivables  
Expressed in '000 CHF  30/12/2015  31/12/2014  
Recoverable United States taxes  4,335  2,971  
Recoverable Swiss tax es 35 14 
Various other receivables  1225 630 
Total other receivables  5,595  3,614  
 
4.63.   Other receivables include receivables from non -exchange transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receiva bles".  
4.64.   Staff remunerated by the Organization is exempted from income taxes. However, the United 
States requires its citizens and residents to file and pay tax worldwide. When a staff member is 
obligated to pay income tax to the United States, the WTO provi des advances for estimated tax 
payments and reimbursements for actual tax payments and subsequently asks for a 
reimbursement from the United States Government in conformity with an Agreement between the 
WTO Secretariat and the United States,  of 22 December  2000.   WT/BFA/W/392/Rev.1  
 
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  4.65.   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 authori ties. 
4.66.   The method of reimbursement applied by the United States Government 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 an non reimbursable  amount  of CHF 236,447 for 2015.  In 2014 the amount was  
CHF 98,194. The difference is due to the variation of the part of the non -WTO salary of the 
American staff, which fluctuates from year to year.  
4.67.   In 2015 the WTO wrote off 370,153 CHF  (equivale nt of 359,372 USD) of US taxes c laim. 
The amount includes USD 100,176 in administrative costs such as external tax and legal advice to 
the Organization in order to administer the agreement and a reimbursement to once-off payment 
amount of USD 259,196 for taxes associated with a lump -sum distribution.  
4.68.   While the WTO made claims for these amounts, it was not with high expectations of actually 
being reimbursed due to the terms of Tax Reimbursement Agreement (TRA). Non etheless, the 
WTO has consistently attempted to claim reimbursement dating back to 2009, but without 
success.  In 2015 the WTO was informed formally by the US authorities that the amounts were not 
considered allowable under the terms of the TRA.  
4.4.8   Note 8 Adva nces and Prepayments  
Table 45 Prepayments  
Expressed in '000 CHF  30/12/2015  31/12/2014  
Staff advances for salary, travel and education grant  3,060  3,284  
Advances relating to Trust Funds activities  1,469  1,137  
Other advances  759 815 
Total  5,288  5,236  
 
4.69.   Staff advances made for education grants increased by kCHF 14.7, representing a total of 
kCHF 2,792 in 2015. Advances for home leave decreased by kCHF 232 and represent kCHF 242 of 
the total of staff advances in 2015. The remaining a mount refers to travel advance and salary 
advance.  
4.70.   Advances relating to Trust Funds activities include advances paid to hotels where the 
activities will be held as well as advances to implementing partners. This amount increased by 
kCHF 332.  
4.71.   Other prepayme nts correspond to payments made to suppliers, consultants and insurance  
4.4.9   Note 9 Property, Plant and Equipment  
Table 46 Building  
Expressed in '000 CHF  Building  
Cost at 31/12/2014  134,499  
Additions  45 
Cost at 31/12/2015  134,543  
Accumulated depreciation 01/01/2015  16,121  
Depreciation  2,593  
Reversed Acc umulated  Depreciation  -11,515  
Accumulated depreciation at 31/12/2015  7,199  
Net carrying amount at 31/12/2015  127,345  
 
4.72.   On the 7th August 2015 the infrastructure contract signed betw een WTO and the Swiss 
Authorities concerning the CWR building was registered at the "register fonciere de Geneve". This 
registration defines the final 99 years' time -frame of ownership of CWR premises and imposes on WT/BFA/W/392/Rev.1  
 
- 59 - 
 
  one side an exceptional reverse of the a ccumulated depreciation booked for the period 1995 -2014 
(19 years) and on the other side a new process of depreciation that begins with the date of 
registration.  
4.73.   The agreement imposed restrictions on the resale value of the CWR building. Therefore, also 
the corresponding provision for the right of use of the building has been reversed for the period 
1995 -2014 and re -established and depreciated with a the new starting date . This provision of 
right of use is reported among the equity of the WTO.  
4.74.   The WTO ha s also a number of artwork donated by governments, artists and other partners. 
The Government of China has offered  the WTO a garden that was completed in 2012 and the 
Government of Italy donated and restored a fountain at the end of 2014. The value of thes e works 
(also called heritage assets) is not recognised in the financial statements.  
4.75.   The CWR and the new administrative building belong to the WTO. At the end of 2012, final 
reception for both the renovation work of the CWR (financed by the Swiss Authoriti es) and the 
construction wo rk of the new building was completed.  No revaluation of the carrying amount 
occurred in 2015.   
4.76.   With the conclusion of the project of Common Facilities in October 2014 financed by the 
MTOF, no more working is in progress and all a ssets are accordingly capitalized . 
4.77.   The WTO has benefited from in -kind contributions relating to the use of different buildings:  
a. Free right to use the Salle William Rappard, where the General Council usually meets. This 
conference centre is owned by the Can ton of Geneva and maintained  by the Fondation des 
Immeubles pour les Organization Internationales (FIPOI).  
b. Free right to use the Villa Rappard and two small neighbouring villas. These villas are property 
of the Canton of Geneva. The WTO bears the maintenan ce costs.  
c. Free right to use an underground parking located in the neighbourhood  Sécheron  with 
400 parking spaces.  
4.78.   As part of the building project, artwork and decoration were acquired and recognised at 
their purchase prices and are subject to depreciation.   WT/BFA/W/392/Rev.1  
 
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  Table 47 Equipment  
Expressed in 
'000 CHF   Furniture   Audio 
visual   Security  Reproduction   IT   Vehicle   Total  
 Cost at 
31/12/2014  9,231  7,692  3,064  1,612  2,585  366 24,549  
 Additions  58 8 7 26 764 - 864 
 Disposals     -  - 124 -124 
 Cost at 
31/12/2015  9,289  7,700  3,070  1,638  3,350  242 25,289  
Accumulated 
depreciation 
31/12/2014  1,711  1,208  1,121  1,304  2,065  216 7,625  
Depreciation  925 771 305 58 257 37 2,353  
 Disposals       -124 -124 
Accumulated 
depreciation at 
31/1 2/2015  2,636  1,979  1,426  1,362  2,322  129 9,854  
 Net carrying 
amount at 
31/12/2015  6,654  5,721  1,644  276 1,027  113 15,436  
 
4.4.10   Note 10 Intangible Assets  
Table 48 Intangible Assets  
Expressed in '000 CHF  Acquired 
Software  Internally 
developed 
Software  Total Intangible  
Cost at 1/1/2015  545 466 1,011  
Additions  186  186 
Disposals    - 
Cost at 31/12/2015  731 466 1,196  
Accumulated depreciation 1/1/2015  173 279 452 
Depreciation  113 116 229 
Accumulated depreciation at 
31/12/2015  286 396 681 
Net carrying amount at 31/12/2015  445 70 515 
 
4.79.   The acquired software that is being depreciated pertains  to informatics  tools for financial 
data extraction, for the internet application server of the ERP System  and for conference activities . 
4.80.   No inter nally developed software was implemented and capitalized in 2015.  
4.4.11   Note 11  Accounts payable  
Table 49 Payables  
Expressed in '000 CHF  31/12/2015  31/12/2014  
 Suppliers  5,892  3,050  
WTO staff, consultants and interns  649  383  
 Other payables   13  72  
Total payables  6,554  3,505  
 Accruals  2,771  973  
 Grand Total  9,325  4,478  
 
4.81.   Payables to suppliers and staff at year -end reflect amounts committed  in 2015  for which 
settlement has been effected in 2016 .  
4.82.   Accruals represent the am ount of goods received and services delivered during the period 
for which the invoices were not received at the reporting date.  WT/BFA/W/392/Rev.1  
 
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  4.4.12   Note 12  Assessed contributions paid in advance  
4.83.   Contributions  paid in advance by Members a nd Observers at 31  December  2015 consis t of 
advance payments received and interest earned and due to Members.  
Table 50 Contributions paid in Advance by Members and Observers  
Expressed in '000 CHF  31/12/2015  31/12/2014  Reference  
Contributions paid in advance by Members a nd Observers  16,233  13,754  Schedule  
C and D  
Interest earned through the Early Payment Encouragement 
Scheme  77 132 Schedule B  
Total contributions paid in advance by Members and 
Observers  16,310  13,886   
 
4.84.   The General Council implemented a system to enc ourage 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. The  
interest earned by members in 2014 was  CHF 76,927 . In 2015, due to the establishment of 
negative interest rate by 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 members.  
4.4.13   Note 13 Voluntary contributions refundable to donors  
Table 51 Voluntary contributions refundable to donors (including advances)  
Expressed in '000 C HF 2015  2014  
Balance due to donors as at 31 December 2014  32,625  33,616  
Contributions paid in advance for 2015 activities  -24  -928 
Voluntary contributions received in 2015  22,324  21,132  
Reimbursement in 2015  -125  -25 
Interests on investments  0  33 
Expenses incurred on Trust funds (note 20)  -20,517  21,227  
Balance due to donors as at 31 December 2015  34,283   32,601  
Contributions paid in advance for 2016 activities  1,387  24 
Balance due to donors as at 31 December 2015 (including advances)  35,670   32,625  
Contributions returned to donors  0 -48 
Final balance due to donors as at 31 December 2015  35,670   32,577  
 
4.85.   In accordance with IPSAS 23, contributions from donors subject to conditions have been 
classified under deferred revenue. Revenue is recog nised up to the amount expensed in the 
period, corresponding to the completion of the specified performance.  
4.86.   In accordance with IPSAS , expenses are no longer recognised based  on commitments but  
rather  on accruals. Voluntary contributions refundable to dono rs include commitments made to 
third parties regarding trust fund activities.   WT/BFA/W/392/Rev.1  
 
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  4.4.14   Note 14 Employee benefits  
Table 52 Employee Benefits  
Expressed in '000 CHF  31/12/2015  31/12/2014  
 Short -term benefits   Dependency allowance  50  50  
   Untaken annual leave  9,150  9,167  
   Education grant  1,395  1,389  
   Home leave  1,011  899  
   Separation grant  199  229  
   Provision for Bonus  839  839  
Subtotal    12,644  12,573  
 Long-term benefits   Removal indemnity  1,199  1,691  
   Separation grant  8,063  8,874  
 Post-employment benefits   ASHI  245,531  342,853  
   Pension   855,635  1,209,593  
 Total    1,123,071   1,575,584   
 
4.87.   Employee benefits liabilities are determined by professional actuaries or calculated by the 
WTO based on personnel data and past payment experience.  
4.88.   Short -term employee benefits include dependency allowance, untaken annual leave, 
education grant and home leave:  
a. The provision for dependency allowance is established to cover financial support for the 
eligible dependants of staff . 
b. The provision for untaken annual leave corresponds to the total leave balance due to 
regular and temporary staff at the end of the year. According to staff regulations, t he 
maximum number of accumulated annual leave is 60 days, which corresponds  to two 
years entitlement.  Annual leave is accounted for using the FIFO method.  
c. The provision for education grant is established to cover the expenditure associated with 
the first four out of ten months of the school year correspondi ng to the closing period 
2015 (from September to December) that will only be settled at the end of the school 
year in the following summer.  
d. The provision for home leave is established to cover the amount due to eligible staff in a 
given year for their hom e leave. Staff  entitled to home leave may return to their home 
country every two years. The rules to calculate the home leave estimation for all the 
perma nent international staffs are:  
i. the date of the last H ome Leave (HL)  is considered as the year during which the 
home leave has been taken . 
ii.  A staff member who has not taken HL for 2 years, i.e. since 2013, is entitled to 
100% rights.  
iii. A staff member who has taken home leave in  2014 is entitled to half of the right at 
the end of 2015.  
iv.  A staff member who h as taken home leave in 201 5 has no rights at the end of 2015.  
v.  The amount of the last home leave paid is the estimation for the cost of the home 
leave. However, an average home leave amount CHF 8, 163.07  has been calculated 
for the people who assumed duty  in 201 4 or 2015 . No provision for staff t hat entered 
before 2013  and never asked for home leave.   WT/BFA/W/392/Rev.1  
 
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  4.89.   At the end of their employment contract, eligible staff receive separation grant and 
international staff going back to their home countr ies are entitled to re moval indemnity.  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 leaving staff, of 
CHF 12,191.84. This average unit cost i s based over the past six years . 4 
b. 58.88 % of international staff has been returning to their home country (over the past 
fifteen  years).  
c. A retirement age of 6 5 years . The retirement age has been modified from 62 to 65 years 
in 2015 in view of expected life  expectancy .  
d. The amo unt of the median salary and its  estimated inflation growth are based on the pay 
scale of the salaries in 2010 due to the fact that the majority of employees  are 
remunerated on the basis of this particular salary scale . There is no inc rement rate for 
the employees who  are in the maximum grade . The estimated adjustment for the 
median salary comprises of  the increment rate.  Other assumptions such as the discount 
rate, working time and inflation rates are the same as the ones used for the actuarial 
valuation for pension and ASHI.  
4.90.   The rules to calculate the long term separation indemnity are:  
a. Local staff with more than 10 years  of service  (date of fixed term) without dependant 
are entitle d to one month of median salary.  
b. Locals more than 10  years of service with dependant are entitled to two months of the 
median salary.  
c. International  members of staff with more than 10 years of service , are entitled to t he 
same benefits as local st aff. 
d. International member s of staff  who have less than 10 year s of service , are not entitled 
to receive  long term separa tion indemnity  if they remain in Geneva after separating from 
the WTO . 
e. International members of staff  returning to their home country and who have no  
dependant s are always entitled to two months of the me dian salary regardless of time in 
service . 
f. Internationals members of staff returning to their home country with dependant are 
always entitled to four months of median regardless of time in service . 
g. The total provision for separation indemnity amounte d to 8,063 kCHF in 2015, which 
represented a decrease of 811 kCHF compared to the previous year. This is due to the 
increase of the change in retirement age from 62 years to 65 years in 2015 . 
                                                
4 OFFICE (15)/76: In September 2015, the WTO policy on removal of personal effects and household 
goods adopted the option of choosing a lump -sum payment for removal costs. This policy is under trial 
period for evaluation and collection of data, during which staff members will have the choice between 
the lump s um or to request the WTO to organize the removal upon separation as in the previous years. 
Due to a new implementation, the effect of this change of policy is not yet reflected in the calculations 
of the removal cost .  
  WT/BFA/W/392/Rev.1  
 
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  Table 53 Actuarial Assumptions to define  benefit obligations  
Actuarial Assumptions  Pension  ASHI  
Discount rate  2.75%  2.75% 
Medical inflation rate    3.10% 
Inflation   0.6%   0.60% 
Rate of salary increase  0.6% for 8 years plus 
1.1% thereafter plus merit 
increase   
Rate of compensation increase  0,60% -  
Rate of pension increase  0.60%  -  
 
Table 54 Actuarial Assumptions  to define benefit costs  
Actuarial Assumptions  Pension  ASHI  
Discount rate  1.10% 1.10%  
Medical inflation rate    3.30%  
Inflation   0.80%   0.80%  
Rate of salar y increase  0.8% for 9 years plus 
1.3% thereafter plus merit 
increase   
Rate of compensation increase  0,80%  -  
Rate of pension increase  0.80%  -  
Expected long -term rate on return of plan assets  4.00%  -  
Table 55 Financial assets – Pension  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Fair value of plan assets at beginning of year  487,631  441,268  
Expected return on plan assets  19,658  20,128  
Actuarial (loss)/gain on plan assets net of actual investment expenses  -20,246  15,973  
Emplo yer contributions  19,338  19,694  
Employ er receivable contributions  2,279   
Plan participants' contributions  9,703  9,847  
Benefits paid from the plan  -19,737  -17,851  
Expenses paid  -388 -410 
Premium paid  -1,065  -1,106  
Net transfer in(out) including effect  of any business 
combinations/disinvestitures  - 88 
Foreign currency exchange rate changes  -907 - 
Fair value of plan assets at end of year  496,266  487,631  
 
Table 56 Defined benefit obligation - Pension  
Expressed in '000 CHF  31/12/ 2015  31/12/2014  
Benefit obligation at beginning of year  1,209,593  852,696  
Service cost  26,355  30,547  
Interest cost  13,293  22,185  
Plan participants' contributions  9,703  9,847  
Actuarial (gain)/loss  -382,507  313,275  
Business combinations/divestitures/ t ransfers   - 
Benefits paid  -19,737  -17,851  
Premium paid  -1,065  -1,106  
Benefit obligation at end of year  855,635  1,209,593  
 WT/BFA/W/392/Rev.1  
 
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  Table 57 History of defined benefit obligations and experience gains and losses – 
Pension  
Expressed in '00 0 CHF  31/12/2015  31/12/2014  
Defined benefit obligation  855,635  1,209,593  
Fair value of plan assets  496,266  487,631  
Surplus / Deficit  359,369  721,962  
Total actuarial gain/(losses) experienced  362,261  -297,302  
 
Table 58 Defined b enefit obligation - ASHI  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Benefit obligation at beginning of year  342,853  247,100  
Service cost  14,516  9,272  
Interest cost  3,906  6,609  
Actuarial (gain)/loss  -112,077  84,256  
Benefits paid  (3,667)  (4,384)  
Benef it obligation at end of year  245,531  342,853  
 
Table 59 History of defined benefit obligations and experience gains and losses - ASHI  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Defined benefit obligation  245,531  342,853  
Fair valu e of plan assets   - 
Surplus / Deficit  245,531  342,853  
Total actuarial gain/(losses) experienced  112,077  -84,256  
4.91.   Pension and ASHI benefits are calculated by consulting actuaries. The WTO pension liability 
amounts to kCHF 855,635 . This liability is counte rbalanced by the corresponding pension's net fair 
value asset of kCHF 496,266 . 
4.92.   As a result  the overall 2015  pension net liability is kCHF 359,369  showing a decrease  of 
kCHF 362,593  from the previous year.  
4.93.   The 2015  liability for ASHI decreased  of kCHF 97,332 compared to the previous year  and 
amounts to kCHF 245,531 .  
4.94.   These decreases  are due mainly to two different factors:  
a. The increase of the actuarial rate from 1.1% in 2012  to 2.75% in 2015 due to the 
modifi ed approach of calculation introduced for 2015 . 
b. The inflation rate at  0.6% compared to the previous rate of 0.8% . 
4.95.   In the assumptions of the actuary the discount rate used for 2014 (1.10%) is derived using 
a bond yield curve and based on high quality corporate (or government) bon ds, the so called 
market m ethod  or spot rate approach . In 2015 , the actuary presented an additional scenario 
aiming to  reduce in the long run the fluctuation of the actuarial gain and losses  that were 
experienced since the introduction of IPSAS in 2012.  
4.96.   In 2015 this new scenario c alculates the discount rate based on the  rate determined by the 
Swiss Chamber of Pension Fund Experts (CSEP). The rate is less volatile than the one used 
previously as it is composed by the following:  
a. two thirds according to the average performance of a r epresentative pension fund index 
over the last 20 years,  
b. one third according to the yield on ten -year Federal bonds less a margin of 0.5%.   WT/BFA/W/392/Rev.1  
 
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  c. The result is finally  rounded down to the nearest 0.25% and would never be below the 
return of 10 -year government b onds.  
4.97.   Actuarial gain or loss may result from increases or decreases in either the present value of a 
defined benefit obligation or the fair value of any related plan assets.  Defining a discount rate with 
a reduced volatility across the years allows a bette r decision making process and facilitate the 
identification of trends in benefits liabilities.  
4.98.   In addition to the discount rate variations other c auses of actuarial gains a nd losses include, 
for example:  
a. Unexpectedly high or low rates of employee turnover,  early retirement or mortality, or of 
increases in salaries, benefits (if the formal or constructive terms of a plan provide for 
inflationary benef it increases), or medical costs.  
b. The effect of changes in estimates of future employee turnover, early retire ment, or 
mortality, or of increases in salaries, benefits (if the formal or constructive terms of a 
plan provide for inflationary benefit increases), or medical costs;  and 
c. Differences between the actual return on plan assets and the expected return on plan  
assets . 
4.99.   The methodology for determining the  discount rate  can cause  strong variatio n in terms of 
Pension and ASHI cost, liabilities and actuarial gain or loss . Even m inimal variation from one year 
to another has a significant impact on both  the financial position and performance position  of the 
WTO.  
4.100.   Having kept the former method for calculating the discount rate would have in fact 
generated different result in terms of actuarial gain or loss. In particular, with a spot rate of 1.00% 
the Pension Liabilities  would have amounted KCHF 1.174 and  ASHI liabilities kCHF 350,030 . 
4.101.   The two above -mentioned approaches for the selection of the discount rate provide a 
range of values that indicate the variability of these two long terms liabilities that need to be 
closely  assessed and monitored for the interest of the organization.  
4.4.15   Note 15 Loan  and Grant  
4.102.   The Organization has received a CHF 60  million loan from the Swiss Authorities for the 
building project (CHF 20  million for the south and north courtyards transformations and CHF 
40 million for the new administrative building). This loan is interest -free and the WTO started  in 
2013 the reimbursement of the principal only. The duration of the loan is 50 years. The valu e of 
the interest waived in 2015 will be waived until the  final payment in 2062 . The value of the 
interest waiver will be equal to the future value of the loan discount, which will lead to the 
recognition of the present value of  the loan at its nominal value.  
4.103.   The WTO holds an interest free loan relating to the f inancing of the building project. The 
interest free component is considered as an in -kind contribution from the Swiss Authorities. The 
value of the in -kind contribution corresponds to the interests that would have been paid in case of 
a commercial loan. As  the value of the interest waiver is equal to the future value of the loan 
discount, WTO does neither recognise an expense nor revenue for the same amount.   
4.104.   In 2015 the WTO received a grant  of CHF 134,689 from FIPOI to cover the works for the 
"terrazzo" in  the Centre William Rappard.  
4.4.16   Note 16 Working Capital fund  
4.105.   Governments  acceding to the WTO shall make an advance to the Working Capital Fund 
(WCF) in accordance with the scale of contributions applicable to the budget for the year of their 
accession. The mi nimum advance to the Working Capital Fund amounts to 0.5% of the principal of 
the Fund for countries or separate customs territories whose share of the total trade of Members WT/BFA/W/392/Rev.1  
 
- 67 - 
 
  is 0.5% or less. The interest earned on the advances made by Members accrues to t he 
Organization. Yemen has acceded to the WTO in 2014 in June 2014 as the 160th member of WTO.  
Table 60 Working Capital Fund Statement  
Expressed in '000 CHF  31/12/2015  31/12/2014  
ASSETS    Cash and cash equivalents  10,710  10,603  
Receivables from Members  68 68 
Tax receivables  0 1 
    Total assets  10,779  10,672  
    LIABILITIES AND CAPITAL FUND    Advances made by Members  6,161  4,511  
Interests earned  4,617  6,161  
    Total liabilities and capital fund  10,779  10,672  
4.4.17   Note 17 Fun ds 
Table 61 Funds  
Expressed in '000 CHF  Ministerial 
Operating 
Fund  Doha 
Development 
Global Trust 
Fund  Appellate 
Body 
Operating 
Fund  Member's 
Transition 
Operating 
Fund  Building 
renovation 
funds  Total  
Closing  Balance at 
31/12/2014  600   1,000  1020   1,701     -    4321 
Replenishment of reserves  600 0 2000 0   5,840  8,440  
Utilisation of reserves  -1200 0 -1,711  -1,701   -    -4,612  
Balance at 31/12/2015  0 1,000  1,309  0 5,840  8,150  
 
4.106.   The WTO Funds amounts to KCHF 8150 : The Ministeria l Operating Fund, was replenished 
with the annual allocation of CHF600 ,000 and was fully used to cover the expenditure of the 10th 
Ministerial Conference in Nairobi. The Appellate Operating Fund . The A ppellate Body O perating 
fund was replenished with an al location of CHF 2  Million due to the increasing activity related to 
legal appeals, the fund covered expenses approximating CHF 1,7 Million in 2015 . 
4.107.   In 2015 the Committee on Budget, Finance and Administration (CBFA) approved the 
closure  of the Members Trans ition Operating Fund (MTOF) and the creation of the Building 
Renovation Fund. The latter has been financed by the ending balance of the  MTOF and by the 
regular budget including the pre-IPSAS budget surplus of CHF 739,756  generated at the end 
of 2011.  An ad ditional transfer of CHF 3,4 million  from the regular budget allowed the fund to 
reach CHF 5,8 Million . 
4.4.18   Note 18 Revenue  
4.108.   Revenue from non -exchange transactions include revenue from assessed contributions 
from Members and Observers and voluntary contribution s. 
a. Assessed Contributions amount to kCHF 195, 575 and are presented in the budget 
performance section of the report and in detail in Annex A of the Financial Statements.  
b. Contribution of observers  show a decrease compared to the previous year as Seychelles 
and Kazakhstan became during 2015 the 161st and 162nd member  of the WTO.  
c. Voluntary Contributions from Trust Funds are presented in detail in Annex E of the 
financial statements .  WT/BFA/W/392/Rev.1  
 
- 68 - 
  
  4.109.   Detail ed data concerning revenues from assessed contributions and their budget ary 
implementation are reported in the first chapter of the Financial Performance report.  
4.110.   With the closure  in October 2014 of the MTOF fund, no extraordinary revenues occurred in 
2015. 
4.111.   The financial statements indi cate in a separate line the 2015  revenue  deriving from 
consolidation with the WTO pension plan amount ing to  kCHF 19,178 . 
4.112.   Revenue from exchange transactions is included in the line "Revenue from publications" 
and "Other revenue".  
a. Income from publications includes sale s through the WTO bookshop and WTO distributor 
as well royalties  and are  summarized in the table below : 
Table 62 Revenue s from publications  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Publications Stocked Production  383  267  
Sales of WTO publications  155  184  
Sales of non WTO publications  66  103  
Sales of Souvenirs  32  12  
Other sales on Publications  49  24  
Total  684  590  
 
b. Other revenues are summarized in the table below:  
Table 63 Other Revenues  
Expressed in '000 CHF  31/12/2015  31/12/2014  
Refund of prior year's outstanding 
obligations  2,575  160  
Rental of meeting rooms and office 
spaces  108  119  
Miscellaneous  84  307  
Total  2,766  586  
 
4.113.   The refund of prior year obligation include s in particular savings from ITC for 2011 a nd 
2012 of CHF 2 Million  or adjustments related to past obligations settled in 2015.  
4.114.   Rental of meeting rooms and office spaces include revenues generated by the outsourcing 
of WTO meeting facilities to other entities.  
4.115.   Miscellaneous revenues include amounts  related to selling of assets, interests from 
investments activities and other savings.  
4.4.19   Note 19 Expenses  
4.116.   The main category of expenses are summarized as follows:  
a. Staff expenditures include costs such as salaries, annual leave, pension, health insurance 
among others. Expenditures of th is nature decreased by about 3.7%  compared to the 
previous year, mainly because of valuation effects regarding the pension  costs. 
b. Pension Actuarial Cost  decreased compared to last year due to the 2015 plan 
amendment aiming to i ncrease the commute portion of the retirement pension from 
33% to 50%. ASHI actuarial cost, instead increased compared to last year  of 3.2  MCHF. WT/BFA/W/392/Rev.1  
 
- 69 - 
 
  Table 64 Staff Expenditures including Trust Funds  
Line 2015  2014  Difference  
Staff / Sa lary 88,602  88,360  241 
Staff / Annual leave  701 362 339 
Variation Provision Annual Leave  -17 -540 524 
Staff / Overtime  154 123 31 
Staff / Representation Allowance  176 177 -1 
Staff / Pension  21,144  18,950  2,194  
Staff / Retiree Health Insurance  2,445  2,419 25 
Staff / Health Insurance  4,913  5,084  -170 
Death and Invalidity Insurance  534 425 108 
Staff/ Allowances for Dependences  5,343  5,280  63 
Staff / Education Grant  4,179  3,897  282 
Variation Provision for Education Grant  6 107 -101 
Staff / Home Leav e 1,539  1,679  -139 
Variation  Provision for Home Leave  112 -252 364 
Staff / Rental Subsidy  343 313 30 
Staff / Travel and Removal  463 292 171 
Variation Provision Travel & Removal  -492 292 -784 
Staff / Installation Grant & Medical Examinations  353 212 141 
Staff / Separation Grant  1,007  603 404 
Variation Separation indemnity  -841 1,013  -1,855  
Staff / Negotiated Termination Indemnity  3,398  554 2,844  
Staff / US Taxes  607 98 508 
Subtotal Staff Costs  134,668  129,447  5,222  
Staff / Pension Actuarial Cost  18,846  33,775  -14,929  
Staff / Retiree Health Insurance Actuarial Cost  14,755  11,497  3,258  
Total  168,269  174,719  -6,449  
 
c. Temporary assistance expenditures refer to costs related to external translation 
activities, recruitment of consultants or staff with a short term contract. Costs for 
panellists and appellate body member fees also fall in this category. The value of 
Temporary Assistance is in line with the previous year . 
Table 65 Temporary Assistance  including Trust Funds  
Line 2015 2014  Difference  
Short -Term Staff / Salary                      4,957   5,751  -793 
Short -Term Staff / Pension                         541  818 -277 
Short -Term Staff / Health Insurance                         208  290 -82 
Short -Term Staff / Annual Leave                         262  294 -31 
Short -Term Staff / Overtime                          14  9 5 
Language and Translation costs                      6,928  6,505  422 
Consulting costs                      2,928  2,507  421 
Panellists & Appellate Body Members Fees                     2,441  2,164  277 
Interns                      2,381  2,330  51 
Consolidation with Trust Funds  -38  -37 -1 
Total  20,622  20,631  -8 
4.117.   Supplies and other general service expenditures include general administration costs such 
as utiliti es costs, maintenance costs, and  publication costs. In addition  costs for the purchasing of 
supplies and small equipment and a write off for obsolete publications are part of this category. A n 
increase  of more than CHF  2 million is t o be noted compared to year 2014.  
4.118.   Travel & Hospitality expenditures represent the costs related to travel on official mission, 
accommodation, ticke ts for  staff, panellists and participants at trade related technical activities  WT/BFA/W/392/Rev.1  
 
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  among others. Hospitality expenses are related to c osts incurred by Senior Management for 
receptions such as hospitality events and meeting s related to the WTO activity . 
4.119.   Implementing partners' expenditures represent costs for activities  funded by WTO but 
executed by  third-party organization s. The costs for  these act ivities decreased of about 
CHF 0.9 million compared to the previous year. The difference is due to the Trust Funds 
expenditures for implementing partners that decreased from 5,410 kCHF in 2014  to 4.496 kCHF in 
2015.  
4.120.   Contribution to ITC includes t he funds granted to ITC for its core activities.  
4.121.   The Ministerial Conference Operating Fund and the Appellate Body Operating Fund show 
the variation of the two funds dedicated to the activities of Appellate Body and Ministerial 
Conference. The Ministerial C onference Operating fund was replenished  and subsequently  fully 
used through expenditure for  the Ministerial Conference that took place in Nairobi , in 2015 . 
4.122.   Depreciation include s the depreciation costs for the assets. Depreciation for the right of 
use CWR refers to the amortisation of the liability related to the CWR following the concession of a 
right of use of CWR premises from the Geneva Local Authorities.   
4.123.   Finance and foreign exchange costs refer mainly to interests paid to banks and expenses 
due to exc hange rate transactions among different currencies.  
4.124.   The e xtraordinary loss of kCHF 830 is  related to the write -off of outst anding contribution 
from the former Yugoslavia. An additional kCHF 324 extraordinary loss is related to an adjustment 
of prior year e xtraordinary revenue which was recorded in 2014 in the framework of the MTOF.  
4.4.20   Note 20 Segment reporting  
4.125.   Segment information is based on the two main sources of financing of the Organization. 
These segments are: i) the regular budget of the WTO, and ii) Tru st Funds. Segment reporting will 
only be presented for the Statement of Financial Performance.  
4.126.   The only in tra-fund transaction occurred is  related to the reallocation of part of the 
expenses of the EPSF (Programme Support Fund)  to the regular budget . 
4.127.   The 10 % of the expenses in the EPSF is statutorily credited back to the WTO regular 
budget as a token 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 (corresponding to the amount of KCHF 190). The counterpart of this amount is redistributed 
as follows:  
a. 80% of this contribution is allocated to the Supplies and other general services costs 
(corresponding to the amount of kCHF 152). 
b. 20% of this contribution is allocated to the Temporary assistance (corresponding to the 
amount of kCHF 38). WT/BFA/W/392/Rev.1  
 
- 71 - 
 
  Table 66 Financial Performance by segments  
 2015  
Expressed in '000 CHF  WTO 
Budget  Trust Funds  Inter -Fund 
Transactions  TOTAL WTO  
REVENUE          
Contributions assessed on 
Members  195,575      195,575  
Contributions of Observers  652     651.818  
Voluntary contributions on trust 
funds  0 20,517    20,517  
Revenue from publications  684     684 
Other revenue  1,801  -    -190  1,612  
Pension Revenues  19,178      19,178  
Total revenue  217,891  20,517  -190 238,218  
          
EXPENSES          
Staff Expenditure  -127,432  -7,236    -134,668  
Actuarial cost for ASHI  -14,755      -14,755  
Actuatrial cost for pension  -18,846      -18,846  
Temporary Assistance  -18,266  -2,394  38 -20,622  
Supplies, write off and other 
general services costs  -15,873  -606 152 -16,328  
Travel & Hospitality  -6,969  -5,863    -12,832  
Implementing Partners  -231 -4,496    -4,727  
Contribution to ITC  -18,470      -18,470  
Ministerial Conference Operating 
Fund 600     600 
Appellate Body Operation Fund  -289     -289 
Depreciation  6,340      6,340  
Provision for contributions in 
arrears  902     902 
Right of use - CWR -11,313      -11,313  
Finance costs  -69 -10   -79 
Loss/(Gain) on foreign exchange 
transactions  195 89   283.50  
          
Total expenses  -224,477  -20,517  190 -244,804  
          
Surplus/(deficit) for the period  -6,586 0 0 -6,586 
 
4.4.21   Note 21 Reconciliation with Budget  
4.128.   The WTO consolidated budget incl udes the budget for the WTO Secretariat and the budget 
for the Appellate Body and its Secretariat. The WTO financial statements also include the activity 
financed by the Trust Funds. The WTO Consolidated budget is approved on a modified cash basis 
(no asse ts capitalisation and no recognition of long -term employee benefits) whereas the financial 
statements are issued on an accrual basis (IPSAS).  
4.129.   A statement of comparison of original 201 5 budget and a ctual amounts is presented in the 
first narrative part of t his report where material differences are explained. The following table 
reconciles the budgetary savings with the surplus account as required by Financial Regulations and 
with the financial results as obtained f rom the implementation of IPSAS.   WT/BFA/W/392/Rev.1  
 
- 72 - 
  
  Table 67 Reconciliation between budget result and financial result  
Expressed in '000 CHF    
Budgetary savings  31/12/2015  4,558  
    
Assessed contributions on new Members  (refer to Table 2)  75  
Miscellaneous income  (refer to Table 2)  1,547  
    
Surplus  31/12/2015  6,179  
    
Loan reimbursement  1,200  
Sales of Assets  24  
Production stocked  383  
Building renovation Fund Equity Allocation  3,400  
Acquisition of property, plant and equipment  1,046  
Depreciation and amortisation of propert y, plant and equipment  6,340  
Depreciation of provision for right of use - CWR -11,313  
Provision for contribution in arrears  902  
Adjust ment savings on MTOF  -324  
Pension benefits actuarial valuation (net value)  332  
After service health insurance (A SHI) benefits actuarial valuation  -14,755  
Financial result  31/12/2015  -6,586 
 
4.130.   The deficit for the year 201 5 amounts to kCHF 6,586. This is the deficit calculated using 
the same methodology as in prior years and in compliance with the WTO Financial Regu lation.  
4.4.22   Note 22 Key management personnel  
4.131.   Key management personnel of the WTO are the Director -General and the four Deputy 
Director -Generals as they have the authority and responsibility for planning, directing and 
controlling the activities of the WTO.  
4.132.   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 contributions.  
Table 68 Key managemen t personnel  
Expressed 
inCHF  Nb of 
individual  Net salaries and 
representation 
allowances  Entitlements 
and other  Pension 
and 
health 
plans  Total 
31/12/2015  
Key 
management 
personnel  5 1,545 ,030  30,308  322,067  1,897,405  
 
4.4.23   Note 23 Contingent assets and continge nt liabilities  
4.133.   At the end of 2015, the Organization held  bank guaranties  of kCHF 2,212 from Implenia 
related to the Building Project ,  kCHF 865 from HRS related to the Building Project , kCHF 112 for 
the welcome Pavilion, kCHF 3 0 for the garden and trees an d kCHF 20  for the Villa Rappard Works . WT/BFA/W/392/Rev.1  
 
- 73 - 
 
  4.4.24   Note 24 Commit ments  
4.134.   The commitments opened on the 31st December  2015 are the following : 
a. Regular budget: kCHF 0,329 . 
b. Trust Funds: kCHF 5,909 . 
4.4.25   Note 25 Events after the reporting date  
4.135.   The WTO's re porting date is 31  Decem ber 2015. The financial statements were authorised 
for issue on 31 March 2016, the date at which they were submitted to the External Auditor by the 
Director -General.  
4.136.   In April 2016, WTO received a reimbursement of USD 2,520,538 from the US treasury 
Departm ent. This reimbursement corresponds to close to the  full amount of the long term tax 
claims submitted by WTO  to the US treasury department . 
4.137.   No material events  that would have impacted these statements , favourable or 
unfavourable,  were incurred between the reporting date and the date when the financial 
statements were authorised for issue.   WT/BFA/W/392/Rev.1  
 
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  4.5  Schedules  
4.5.1   Schedule A 2015  Statement  of Contributions from Member States  2015 
Table 69 Contributions from Members in 201 5 
Members  Assessed  
Contribu tions  Interests gained  
for 2015  Net Assessed  
Contributions  
Albania  52,785  15 52,770  
Angola  512,210  123 512,087  
Antigua and Barbuda  29,325  - 29,325  
Argentina  801,550  192 801,358  
Armenia  33,235  1 33,234  
Australia  2,725,270  1,051  2,724,219  
Austria  2,148,545  892 2,147,653  
Bahrain, Kingdom of  173,995  37 173,958  
Bangladesh  263,925  77 263,848  
Barbados  29,325  7 29,318  
Belgium  4,013,615  1,462  4,012,153  
Belize  29,325  2 29,323  
Benin  29,325  - 29,325  
Bolivia, Plurinational State of  78,200  - 78,200  
Botswa na 60,605  12 60,593  
Brazil  2,504,355  649 2,503,706  
Brunei Darussalam  72,335  29 72,306  
Bulgaria  326,485  144 326,341  
Burkina Faso  29,325  3 29,322  
Burundi  29,325  - 29,325  
Cabo Verde  29,325  - 29,325  
Cambodia  76,245  - 76,245  
Cameroon  72,335  - 72,335  
Canada 5,145,560  2,394  5,143,166  
Central African Republic  29,325  - 29,325  
Chad 44,965  - 44,965  
Chile 787,865  65 787,800  
China  16,850,145  3,041  16,847,104  
Colombia  525,895  165 525,730  
Congo  58,650  5 58,645  
Costa Rica  138,805  69 138,736  
Côte d'Ivoire  101,660  - 101,660  
Croatia  265,880  2 265,878  
Cuba 148,580  34 148,546  
Cyprus  109,480  46 109,434  
Czech Republic  1,401,735  567 1,401,168  
Democratic Republic of the Congo  89,930  8 89,922  
Denmark  1,648,065  421 1,647,644  
Djibouti  29,325  - 29,325  
Dominica  29,325  - 29,325  
Dominican Republic  142,715  - 142,715  
Ecuador  226,780  73 226,707  
Egypt  561,085  42 561,043  
El Salvador  78,200  3 78,197  
Estonia  175,950  80 175,870  
European Union  - - - 
Fiji 29,325  12 29,313  
Finland  1,061,565  438 1,061,127  
France  7,741, 800 3,155  7,738,645  
Gabon  66,470  3 66,467  
The Gambia  29,325  - 29,325  
Georgia  58,650  14 58,636  WT/BFA/W/392/Rev.1  
 
- 75 - 
 
  Members  Assessed  
Contribu tions  Interests gained  
for 2015  Net Assessed  
Contributions  
Germany  15,941,070  7,182  15,933,888  
Ghana  134,895  6 134,889  
Greece  785,910  214 785,696  
Grenada  29,325  - 29,325  
Guatemala  136,850  50 136,800  
Guinea  29,325  4 29,321  
Guinea -Bissau  29,325  - 29,325  
Guyana  29,325  13 29,312  
Haiti 29,325  7 29,318  
Honduras  84,065  - 84,065  
Hong Kong, China  4,985,250  2,120  4,983,130  
Hungary  1,129,990  195 1,129,795  
Iceland  72,335  34 72,301  
India 4,187,610  772 4,186,838  
Indone sia 1,737,995  578 1,737,417  
Ireland  2,025,380  611 2,024,769  
Israel  842,605  225 842,380  
Italy 6,007,715  2,147  6,005,568  
Jamaica  62,560  4 62,556  
Japan  8,785,770  2,428  8,783,342  
Jordan  162,265  24 162,241  
Kazakhstan  55,361  - 55,361  
Kenya  115,345  37 115,308 
Korea, Republic of  5,632,355  1,443  5,630,912  
Kuwait, the State of  678,385  135 678,250  
Kyrgyz Republic  37,145  2 37,143  
Lao People's Democratic Republic  29,325  - 29,325  
Latvia  154,445  66 154,379  
Lesotho  29,325  - 29,325  
Liechtenstein  52,785  21 52,764 
Lithuania  295,205  2 295,203  
Luxembourg  762,450  325 762,125  
Macao, China  242,420  72 242,348  
Madagascar  31,280  3 31,277  
Malawi  29,325  5 29,320  
Malaysia  2,191,555  761 2,190,794  
Maldives  29,325  7 29,318  
Mali 29,325  7 29,318  
Malta  80,155  18 80,137  
Mauritania  29,325  - 29,325  
Mauritius  58,650  25 58,625  
Mexico  3,393,880  1,133  3,392,747  
Moldova, Republic of  39,100  14 39,086  
Mongolia  46,920  7 46,913  
Montenegro  29,325  10 29,315  
Morocco  371,450  - 371,450  
Mozambique  52,785  11 52,774  
Myanmar  66,470  22 66,448  
Namibia  46,920  20 46,900  
Nepal  37,145  7 37,138  
Netherlands  5,833,720  1,648  5,832,072  
New Zealand  439,875  185 439,690  
Nicaragua  48,875  2 48,873  
Niger  29,325  - 29,325  
Nigeria  782,000  38 781,962  
Norway  1,624,605  627 1,623,978  
Oman  355,810  45 355,765  
Pakistan  351,900  98 351,802   WT/BFA/W/392/Rev.1  
 
- 76 - 
  
  Members  Assessed  
Contribu tions  Interests gained  
for 2015  Net Assessed  
Contributions  
Panama  220,915  31 220,884  
Papua New Guinea  58,650  7 58,643  
Paraguay  105,570  - 105,570  
Peru 398,820  90 398,730  
Philippines  658,835  280 658,555  
Poland  2,189,600  923 2,188,677  
Portugal  869,975  67 869,908  
Qatar  647,105  117 646,988  
Romania  688,160  184 687,976  
Russian Federation  4,371,380  1,317  4,370,063  
Rwanda  29,325  - 29,325  
Saint Kitts and Nevis  29,325  - 29,325  
Saint Lucia  29,325  12 29,313  
Saint Vincent and the Grenadines  29,325  - 29,325  
Samoa  29,325  1 29,324 
Saudi Arabia, Kingdom of  2,422,245  798 2,421,447  
Senegal  46,920  - 46,920  
Seychelles  20,086  - 20,086  
Sierra Leone  29,325  - 29,325  
Singapore  4,609,890  1,952  4,607,938  
Slovak Republic  785,910  245 785,665  
Slovenia  338,215  149 338,066  
Solomon Islands  29,325  8 29,317  
South Africa  1,069,385  443 1,068,942  
Spain  4,306,865  170 4,306,695  
Sri Lanka  146,625  35 146,590  
Suriname  29,325  13 29,312  
Swaziland  29,325  5 29,320  
Sweden  2,271,710  933 2,270,777  
Switzerland  3,049,800  893 3,048,907  
Chinese Taipei  3,006,790  1,320  3,005,470  
Tajikistan  29,325  - 29,325  
Tanzania  84,065  - 84,065  
Thailand  2,301,035  943 2,300,092  
The former Yugoslav Republic of Macedonia  56,695  - 56,695  
Togo 29,325  - 29,325  
Tonga  29,325  11 29,314  
Trinidad and Tobago  127,075  44 127,03 1 
Tunisia  240,465  48 240,417  
Turkey  1,949,135  631 1,948,504  
Uganda  50,830  - 50,830  
Ukraine  819,145  234 818,911  
United Arab Emirates  2,559,095  931 2,558,164  
United Kingdom  7,579,535  3,517  7,576,018  
United States of America  22,114,960  56 22,114,904  
Uruguay  111,435  17 111,418  
Vanuatu  29,325  - 29,325  
Venezuela, Bolivarian Republic of  735,080  41 735,039  
Viet Nam  936,445  205 936,240  
Yemen  97,750  - 97,750  
Zambia  70,380  8 70,372  
Zimbabwe  37,145  14 37,131  
GRAND TOTAL  195,575,447  55,436  195,520,011  
 WT/BFA/W/392/Rev.1  
 
- 77 - 
 
  Table 70 Contributions from Observers in 2015  
Observers  2015 Contribution CHF  
Afghanistan  29,325  
Algeria  29,325  
Andorra  29,325  
Azerbaijan  29,325  
Bahamas  29,325  
Belarus  29,325  
Bhutan  29,325  
Bosnia and Herzegovina  29,325  
Comor os 29,325  
Equatorial Guinea  29,325  
Ethiopia  29,325  
Holy See  29,325  
Iran 29,325  
Iraq 29,325  
Kazakhstan (2)  26,754  
Lebanon  29,325  
Liberia  29,325  
Libya 29,325  
Sao Tome and Principe (1)  n/a 
Serbia  29,325  
Seychelles (2)  9,239  
Sudan  29,325  
Syrian A rab Republic  29,325  
Uzbekistan  29,325  
TOTAL  651,818  
(1) Annual contribution suspended for Inactive Observer . 
(2) Observer became Member in 2015 Contributions as Members on a pro -rata basis from corresponding 
the accessions date .  WT/BFA/W/392/Rev.1  
 
- 78 - 
  
  4.5.2   Schedule  B 20145 Early payment encouragement scheme  
Table 71 Inter est to be distributed to Member States  in 2016  
Members  Interest earned    Members  Interest 
earned  
Albania  30   Macao, China  106 
Angola  198   Madagascar  7 
Armenia  6   Malaysia  1,350  
Austr alia 1,627    Maldives  7 
Austria  984   Mali 12 
Bahrain, Kingdom of  98   Malta  49 
Bangladesh  128   Mauritius  36 
Barbados  12   Mexico  1,447  
Belgium  2,155    Moldova, Republic of  22 
Belize  13   Montenegro  19 
Bolivia; Plurinational State of  14   Morocco  200 
Botswana  25   Mozambique  19 
Brunei Darussalam  30   Myanmar  33 
Bulgaria  209   Namibia  26 
Cambodia  36   Nepal  23 
Canada  3,258    Netherlands  2,748  
Chile 266   New Zealand  279 
China  1,828    Nicaragua  25 
Colombia  244   Norway  779 
Congo  2   Oman  93 
Costa Rica  95   Pakistan  163 
Croatia  17   Panama  82 
Cuba 29   Papua New Guinea  29 
Cyprus  67   Peru 71 
Czech Republic  797   Philippines  381 
Denmark  840   Poland  1,377  
Ecuador  7   Portugal  235 
Egypt  347   Qatar  205 
Estonia  116   Romania  315 
Fiji 12   Russian Federation  2,359  
Finland  555   Saint Kitts and Nevis  14 
France  4,469    Saint Lucia  10 
Georgia  33   Saudi Arabia, Kingdom of  676 
Germany  10,445    Senegal  17 
Ghana  67   Singapore  2,910  
Greece  179   Slovak Republic  478 
Guatemala  49   Sloveni a 223 
Guyana  18   Solomon Islands  15 
Haiti 16   South Africa  585 
Honduras  37   Spain  1,507  
Hong Kong, China  3,072    Sri Lanka  56 
Hungary  696   Swaziland  6 
Iceland  33   Sweden  1,357  
India 1,578    Switzerland  1,746  
Indonesia  853  Chinese Taipei  1,696  
Ireland  1,271    Tajikistan  11 
Israel  314   Thailand  1,425  
Italy 2,958    Tonga  15 
                                                
5 In 2015, no interests were distrib uted due to negative interest rates. The table refers to year 2014.  WT/BFA/W/392/Rev.1  
 
- 79 - 
 
  Members  Interest earned    Members  Interest 
earned  
Japan  3,266    Trinidad and Tobago  37 
Jordan  79   Tunisia  27 
Kenya  20   Turkey  999 
Korea, Republic of  981   Uganda  1 
Kyrgyz Republic  7   Ukraine  260 
Lao People's Demo cratic Republic  16   United Arab Emirates  163 
Latvia  97   United Kingdom  4,635  
Liechtenstein  30   United States of America  224 
Lithuania  10   Uruguay  24 
Luxembourg  292   Viet Nam  382 
   Total  76,927  
 
  WT/BFA/W/392/Rev.1  
 
- 80 - 
  
  4.5.3   Schedule C  Statement of Outstanding C ontribution s as 31  December  2015  – 
Members  
Table 72 Outstanding c ontributions as 31  December  2015  – Member  States  
Members Contributions ( CHF)  Cate- 
gory 1974 -2013  2014  2015  TOTAL  Advance  
Albania    - - - - - 
Angola    - - - - 49,134  
Antigua and Barbuda    - - 233 233 - 
Argentina    - - 801,358  801,358  - 
Armenia    - - - - - 
Australia    - - - - - 
Austria    - - - - 2,045,901  
Bahrain, Kingdom of    - - - - - 
Bangladesh    - - - - - 
Barbados    - - - - - 
Belgium    - - - - - 
Belize    - - - - - 
Benin    - - 28,162  28,162  - 
Bolivia, Plurinational State of    - - 78,200  78,200  - 
Botswana    - - - - - 
Brazil    - - 839,765  839,765  - 
Brunei Darussalam    - - - - - 
Bulgaria    - - - - - 
Burkina Faso    - - - - 7,628  
Burundi (2)    462,839  29,325  29,32 5 521,489  - 
Cabo Verde    - - 29,325  29,325  - 
Cambodia    - - - - - 
Cameroon    - 18,852  72,335  91,187  - 
Canada    - - - - - 
Central African Republic  III  939,102  29,325  29,325  997,752  - 
Chad (2)    773,354  37,145  44,965  855,464  - 
Chile   - - - - 958 
China   - - - - - 
Colombia    - - 5,216  5,216  - 
Congo    - 21,854  58,645  80,499  - 
Costa Rica    - - - - 138,681  
Côte d'Ivoire (2)    144,332  105,570  101,660  351,562  - 
Croatia    - - - - - 
Cuba   - - - - 6 
Cyprus    - - - - - 
Czech Republic    - - - - - 
Democratic Republic of the  
Congo    - - 1,947  1,947  - 
Denmark    - - - - - 
Djibouti (2)    159,993  29,325  29,325  218,643  - 
Dominica  III  58,470  29,325  29,325  117,120  - 
Dominican Republic    - 149,552  142,715  292,267  - 
Ecuador    - - 226,707  226,707  - 
Egypt    - - - - - 
El Salvador    - - 8,878  8,878  - 
Estonia    - - - - 175,834  
European Union (1)    - - - - - 
Fiji   - - - - - WT/BFA/W/392/Rev.1  
 
- 81 - 
 
  Members Contributions ( CHF)  Cate- 
gory 1974 -2013  2014  2015  TOTAL  Advance  
Finland    - - - - - 
France    - - - - - 
Gabon    - - - - 2,695  
The Gambia (2)    239,576  29,325  29,325  298,226  - 
Georgia    - - - - 62,527 
Germany    - - - - - 
Ghana    - - 134,889  134,889  - 
Greece    - - - - - 
Grenada   I  22,530  29,325  29,325  81,180  - 
Guatemala    - - 48,415  48,415  - 
Guinea    - - 28,850  28,850  - 
Guinea -Bissau   III  553,989  29,325  29,325  612,639  - 
Guyana    - - - - 19,557 
Haiti   - - - - - 
Honduras    - - - - 9,430  
Hong Kong, China    - - - - - 
Hungary    - - - - 1,066,709  
Iceland    - - - - - 
India   - - - - - 
Indonesia    - - - - - 
Ireland    - - - - - 
Israel    - - - - - 
Italy   - - - - - 
Jamaica    - 65,334  62,556 127,890  - 
Japan    - - - - 1,029,403  
Jordan    - - - - - 
Kazakhstan    - - 2,788  2,788  - 
Kenya    - - - - 79,377  
Korea, Republic of    - - - - - 
Kuwait, the State of    - - - - 135 
Kyrgyz Republic    - - 575 575 - 
Lao People's Democratic  
Republic    - - - - 941 
Latvia    - - - - - 
Lesotho    - - - - - 
Liechtenstein    - - - - - 
Lithuania    - - - - - 
Luxembourg    - - - - - 
Macao, China    - - - - - 
Madagascar    - 804 31,277  32,081  - 
Malawi   I  253 29,325  29,320  58,898  - 
Malaysia    - - - - - 
Maldives    - - 29,318  29,318  - 
Mali   - - - - 256 
Malta    - - - - - 
Mauritania   III  765,311  29,325  29,325  823,961  - 
Mauritius    - - - - - 
Mexico    - - - - - 
Moldova, Republic of    - - - - - 
Mongolia    - - 38,629  38,629  - 
Montenegro    - - - - 28,267  
Moroc co   - - - - - 
Mozambique    - - - - - 
Myanmar    - - 1,094  1,094  - 
Namibia    - - - - - 
Nepal    - - - - 25 
Netherlands    - - - - - 
New Zealand    - - - - 443,506   WT/BFA/W/392/Rev.1  
 
- 82 - 
  
  Members Contributions ( CHF)  Cate- 
gory 1974 -2013  2014  2015  TOTAL  Advance  
Nicaragua    - - - - 34 
Niger (2)    419,275  29,325  29,325  477,925  - 
Nigeria    - - - - 606,194 
Norway    - - - - - 
Oman    - - - - - 
Pakistan    - - 97 97 - 
Panama    - - - - 10,382  
Papua New Guinea    - - - - - 
Paraguay    - 61,459  105,570  167,029  - 
Peru   - - 54,138  54,138  - 
Philippines    - - - - 13,787  
Poland    - - - - - 
Portugal    - - - - - 
Qatar    - - - - - 
Romania    - - - - - 
Russian Federation    - - 163,581  163,581  - 
Rwanda   I  - 29,324  29,325  58,649  - 
Saint Kitts and Nevis    - - - - 3,986  
Saint Lucia    - - - - - 
Saint Vincent and the  
Grenadines   I  14,601  29,325  29,325  73,251  - 
Samoa    - - 29,309  29,309  - 
Saudi Arabia, Kingdom of    - - - - - 
Senegal    - - 46,091  46,091  - 
Seychelles    - - - - - 
Sierra Leone (2)    709,972  29,325  29,325  768,622  - 
Singapore    - - - - 4,700,820  
Slovak Republic    - - - - - 
Slovenia    - - - - - 
Solomon Islands    - - - - - 
South Africa    - - - - - 
Spain    - - - - - 
Sri Lanka    - - - - - 
Suriname   I  - 29,299  29,312  58,611  - 
Swaziland    - - - - - 
Sweden    - - - - - 
Switzerland    - - - - 3,320,000  
Chinese Taipei    - - - - - 
Tajikistan    - - 2,900  2,900  - 
Tanzania    - - 79,415  79,415  - 
Thailand    - - - - 2,358,260  
The former Yugoslav Republic   
of Macedonia   I  - 58,650  56,695  115,345  - 
Togo (2)    - - 29,237  29,237  - 
Tonga    - - - - - 
Trinidad and Tobago    - - - - - 
Tunisia    - - - - - 
Turkey    - - - - - 
Uganda    - 2,227  50,830  53,057  - 
Ukraine    - - - - - 
United Arab Emirates    - - - - - 
United Kingdom    - - - - - 
United States of America    - - 10,965,539  10,965,539  - 
Uruguay    - - - - - 
Vanuatu   I  2,551  29,325  29,325  61,201  - 
Venezuela, Bolivarian 
Republic of   I  88,948  725,305  735,039  1,549,292  - 
Viet Nam    - - - - - 
Yemen    - 53,653  97,750  151,403  - WT/BFA/W/392/Rev.1  
 
- 83 - 
 
  Members Contributions ( CHF)  Cate- 
gory 1974 -2013  2014  2015  TOTAL  Advance  
Zambia    - 39,481  70,372  109,853  - 
Zimbabwe    - - 24 24 - 
Yugoslavia (3)    - - - - - 
GRAND TOTAL  12 5,355,096  1,779,7 34 15,744,946  22,879,776  16,174,433  
(1) No assessment is made in the European Union as such . 
(2) Member under payment scheme.  
(3) Uncollectible contributions, from a Former Contracting Party to GATT 1947 which is not WTO 
Member, for an amount of CHF 830,4 39 have been writ ten-off as at 31 December 2015 . 
 
4.5.4   Schedule D  Statement of Outstanding Contributions as 31  December  2015 – 
Observers  
Table 73 Outstanding contributions as 31  Dece mber  2015  - Observers  
Observers 
Contributions (Swiss 
Francs)  Category  2001 -2013  2014  2015  TOTAL  Advance  
Afghanistan    - 36 29,325  29,361  - 
Algeria    - - - - - 
Andorra    - - - - - 
Azerbaijan    - - - - - 
Bahamas    - - - - 29,325  
Belarus    - - - - - 
Bhutan    - - - - 29,325  
Bosnia and Herzegovina    - - - - - 
Comoros    - - 18,534  18,534  - 
Equatorial Guinea  I - 29,325  29,325  58,650  - 
Ethiopia    - - - - - 
Holy See    - - - - - 
Iran   - - 29,325  29,325  - 
Iraq   - - - - - 
Lebanon    - - - - - 
Liberia    - - 4 4 - 
Libya I 25,896  29,325  29,325  84,546  - 
Sao Tome And Principe  III 306,529  n/a n/a (1) 306,529  - 
Serbia    - - - - - 
Sudan  I 4,833  29,325  29,325  63,483  - 
Syrian Arab Republic    - - 20 20 - 
Uzbekistan    - - - - - 
TOTAL  4 337,258  88,011  165,183  590,452  58,650  
(1) n/a annual contribution suspended for inactive observer . 
 
   
  WT/BFA/W/392/Rev.1  
 
- 84 - 4.5.5   Schedule E  Voluntary contributions received in 201 5 and 2014  per donor and by fund  
Table 74 WTO Trust funds - Voluntar y contributions received in 2015  per donor and by fund  
Funds  
Doha development agenda 
global trust fund  
Enhanced integrated 
framework – Executive 
secretariat  
Mission internship 
programme  
10th Ministerial conference - 
LDCs  
Netherland trainees  
Trade facilitation Agreement 
Facility  
STDF Standards and trade 
development facility  
China LDCs and acce ssions 
programme  
Evaluation trust funds  
TOTAL    
  
  
  
  
  
  
Donors  
Australia  2,162,382     67,750    707,850     112,640  3,050,622  
Austria  104,900          104,900        209,800  
Canada       37,211          37,211  
China                485,000    485,000  
Denmark  400,028  
   
   
 400,028  
   800,056  
European Union  1,658,552      87,280    174,400  385,840      2,306,072  
Estonia  24,120              24,120  
Finland        43,440      568,700    102,366  714,506  
France  434,400   651,600      51,700     1,137,700  
Germany  1,060,000            162,900      1,222,900  
Ireland     156,600  52,200     156,600     365,400  
Italy                   - 
Japan  267,413              267,413  
Korea (Republic of)  346,500                  346,500  
Liechtenstein  40,000              40,000  
Luxembourg                    - 
Netherlands  495,000      875,000   875,000     2,245,000  
New Zealand                    - 
Norway  1,161,373     58,069    1,742,059  464,549     3,426,050  
Sweden        57,674      1,128,640      1,186,314  
Switzerland       50,000          50,000  
Chinese Taipei              78,945      78,945   
United Kingdom          369,004       369,004  
United States  950,400            285,575      1,235,975  
UNOPS    2,725,305             2,725,305  
 Total  9,105,068  2,725,305  808,200  453,624  875,000  3,098,213  4,558,477  485,000  215,006  22,323,893  
   
  WT/BFA/W/392/Rev.1  
 
- 85 -  
Table 75 WTO Trust funds - Voluntar y contributions received in 2014  per donor and by fund  
Funds  
Doha developm ent agenda 
global trust fund  
Enhanced integrated 
framework – Executive 
secretariat  
Mission internship 
programme  
9th Ministerial conference - 
LDCs  
Netherland trainees  
Trade facilitation – National 
Needs Assessments  
Trade facilitation – 
Negotiating group  
STDF Standards and trade 
development facility  
China LDCs and accessions 
programme  
Evaluation trust funds  
TOTAL    
  
  
  
  
  
  
Donors  
Australia  61,370           61,370 
Austria  241,400           241,400  
Canada         903,751    903,751  
Denmark  482,422        482,422    964,844  
Estonia  24,640           24,640  
European Union  317,592      48,120  76,265  444,808   96,240  830,495  
France  608,500   608,500         1,217,000  
Germ any 1,203,000        180,900    1,383,900  
Ireland    180,900      223,110    404,010  
Korea (Republic of)  336,350           336,350  
Japan  312,019        73,365    385,384  
Liechtenstein  40,000           40,000  
Netherlands  875,000     1,750,000    875,000    3,500,0 00 
New Zealand       78,130      78,130  
Norway  2,163,722      1,300,954  144,550  419,196    4,028,422  
Sweden         652,729    652,729  
United States  1,127,392        89,000    1,216,392  
UNOPS   4,863,234          4,863,234  
 Total  7,793,406  4,863,234  789,400  - 1,750,000  1,427,204  68,285  4,344,281  - 96,240  21,132,051  
 
 
   
  WT/BFA/W /392/Rev.1  
  
- 86 - 4.5.6   Schedule F  Balance d ue to donors as 31  December  2015  and 201 4 
Table 76 WTO Trust funds - Balance due to donors as 31  December  2015 
Funds  
Doha development 
agenda global t rust fund  
Enhanced integrated 
framework – Executive 
secretariat  
Mission internship 
programme  
Independent entity  
Program support fund  
Evaluation trust funds  
Trainee program  
Trade facilitation – 
National needs 
assessments  
Trade facilitation 
Agreement Facilit y 
STDF Standards and trade 
development facility  
China LDCs and 
accessions programme  
Total    
  
  
  
  
  
Donors  
Australia  359,167          112,640      810,394  40,682    1,322,884  
Austria  2,716,050                102,250      2,818,300  
Canada  368,741                  1,379,436    1,748,177  
China                      384,818  384,818  
Denmark  791,890                  915,518    1,707,408  
European Union            96,249            96,249  
Finland  185,922          102,366        605,920    894,208  
France  1,035,040    838,059              35,186    1,908,285  
Germany  2,176,936                  381,384    2,558,320  
Ireland  41,657    290,595            34,700  410,900    777,851  
Japan  602,479                  174,763    777,242  
Korea (Republic of)  628,053                      628,053  
Liechtenstein  69,029                      69,029  
Luxembourg                        - 
Netherlands  714,911            1,136,886      1,353,566    3,205,363  
New Zealand                  47,531      47,531  
Norway  3,343,076                2,710,414  710,767    6,764,256  
Sweden  1,560,398                  2,029,761    3,590,159  
Switzerland  433,548                12,767  175,557    621,873  
Chinese Taipei  78,881              33,802    103,571    216,254  
United Kingdom                  359,681  47,493    407,175  
United States  1,828,106                43,405  267,780    2,139,292  
Organizations:                          
UNOPS    598,619                    598,619  
Others:                          
Bureau Veritas International        17,658                17,658  
Cotecna International Ltd.        17,564                17,564  
Inchape Testing Services International Ldt.        17,658                17,658  
Inspectorate Griffith Ltd.        17,659                17,659  
Société Général de Surveillance        17,498                17,498  
WTO Members          913,671              913,671  
Total  16,933,884  598,619  1,128,654  88,036  913,671  311,255  1,136,886  33,802  4,121,142  8,632,284  384,818  34,283,051    
   WT/BFA/W/392/Rev.1  
 
- 87 - Table 77 WTO Trust funds - Balance due to donors as 31st December  2014 
Funds  
Doha development 
agenda global trust fund  
Enhanced integrated 
framework – Executive 
secretariat  
Mission internship 
programme  
Independent entity  
Program support fun d 
Evaluation trust funds  
Trainee program  
Trade facilitation – 
National needs 
assessments  
Trade facilitation – 
Negotiating group  
STDF Standards and trade 
development facility  
China LDCs and 
accessions programme  
Total    
  
  
  
  
  
Donors  
Australia  1,684,321              123,548    59,776    1,867,645  
Austria  397,251                      397,251  
Canada  515,537                  2,026,876    2,542,413  
China                      382,727  382,727  
Denmark  707,113                  945,189    1,652,302  
European Union            96,249            96,249  
Finland  259,938                  321,609    581,546  
France  1,012,689    879,882                  1,892,571  
Germany  1,983,575                  397,487    2,381,062  
Ireland  58,241    374,437          35,599    447,156    915,432  
Japan  574,913                  256,788    831,701  
Korea (Republic of)  531,581                      531,581  
Liechtenstein  56,510                      56,510  
Luxembourg  21,445                     21,445  
Netherlands  682,310            1,101,502      1,113,864    2,897,675  
New Zealand                48,763        48,763  
Norway  3,533,158              881,301  157,302  579,817    5,151,578  
Sweden  2,181,593              89,245  35,361  1,853,791    4,159,990  
Switzerland  606,144              13,098    257,956    877,197  
Chinese Taipei  110,283              33,802    73,237    217,322  
United Kingdom                  - 69,784    69,784  
United States  1,605,476              44,530    204,088    1,854,0 94 
Organizations:                          
UNOPS    2,108,234                    2,108,234  
Others:                          
Bureau Veritas International        17,674                17,674  
Cotecna International Ltd.        17,580                17,580  
Inchape Testing Services International Ldt.        17,674                17,674  
Inspectorate Griffith Ltd.        17,675                17,675  
Société Général de Surveillance        17,514                17,514  
WTO Members          977,613              977,613  
Total 16,522,077  2,108,234  1,254,318  88,116  977,613  96,249  1,101,502  1,269,886  192,663  8,607,419  382,727  32,600,804  
   
  WT/BFA/W /392/Rev.1  
  
- 88 - 4.5.7   Schedule G  Interest earned in 2014  
Table 78 WTO Trust funds - Interest earned in 20146 
Funds  
 
 
 
 
 
 
Donors  
Doha dev elopment 
agenda global trust 
fund  
Enhanced 
integrated 
framework – 
Executive 
secretariat  Mission internship 
programme  
Evaluation Trust 
Funds  
Trainee program  
Trade facilitation – 
National needs 
assessments  
Trade facilitation – 
Negotiating group  
STDF Standard s 
and trade 
development 
facility  
China LDCs and 
accessions 
programme  
Total  
Australia  2,091      133  73  2,297  
Austria  350         350 
Canada  647       2,459   3,106  
China  18        465 483 
Denmark  508       782  1,290  
European Union  6   9    192  207 
Estonia  20         20 
Finland  326       390  716 
France  954  756       1,709  
Germany  1,562        383  1,944  
Ireland  73  346   38  416  874 
Italy        12  12 
Japan  499       259  758 
Korea, Republic of  402         402 
Liechtenstein  39         39 
Luxembourg  27         27 
Netherlands  1,036     652   1,295   2,983  
New Zealand       25    25 
Norway  3,516      497 224 532  4,769  
Sweden  2,737      96 63 2,101   4,996  
Switzerland  760     14  313  1,087  
Chinese Taipei  138     36  89  264 
United Kingdom         85  85 
United States  1,208      48  232  1,487  
UNOPS   3,388         3,388  
Total  16,918  3,388  1,102  9 652 889 287 9,613  465 33,323  
                                                
6 No interests in 2015 due to the negative interest rate applied by the Swiss National Bank since April 2015 . WT/BFA/W/392/Rev.1  
 
- 89 - 
 4.5.8   Schedule H  World Trade Organization – Program Support Fund  
Table 79 WTO Program support fund  
  2015  2014  
Opening Balance  977,613  997,827  
Income  2,300,815  2,439,686  
Total income  3,278,428  3,437,513  
Retrocession to other 
organizations  278,207  433,179  
Salary costs  1,866,368  1,842,475  
Share of certain secretariat cost  220,181  184,247  
Total cos ts 2,364,757  2,459,900  
Closing balance  913,671  977,613  
 
Table 80 WTO Program support fund actual expenditure and overheads  
Funds  Actual expenditure  Overheads  
CHF 
13% of actual 
expenses  
  2015  2014  2015  2014  
Doha Developmen t Agenda Global Trust Fund  7,693,152  8,271,427  1,000,110  1,075,286  
Enhanced Integrated Framework - Executive 
Secretariat  3,747,717  3,487,232  487,203  453,340  
Mission Internship Programme  826,429  833,310  107,436  108,330  
10th Ministerial Conference - LDCs 453,624    0   
Netherlands Trainee Programme  743,022  700,973  96,593  91,126  
Trade Facilitation Agreement Facility  248,861    32,352    
Trade Facilitation - National Needs Assessments    719,975    93,597  
Trade Facilitation - LDCs   181,963    23,655  
Standar ds and Trade Development Facility  4,012,046  4,488,442  521,566  583,497  
China LDCs and Accessions  Programme  427,353  83,494  55,556  10,854  
Other extra budgetary funds:IE - Preshipment 
inspection          
Other extra budgetary funds:Program support fund          
Total  18,152,204  20,895,569  2,300,815  2,383,906  
 
 
  WT/BFA/W/392/Rev.1  
 
- 90 - 
 
  Table 81 Overheads shared with other organizations  
Overheads shared with other organizations  Retrocession amount  
  2015  2014  
STDF - ITC 47,561  30,880  
STDF - FAO 3,937  297,864 
STDF - IICA 34,861  14,420  
STDF - OIRSA  6,782  8,738  
STDF - UNDP  - 19,753  
STDF – CAB International  22,032  25,515  
STDF - FEEDLATINA  8,189  10,549  
STDF - COMESA  - 15,592  
STDF - ISS 9,498  - 
STDF - Panamerican Health Association  3,638  - 
STDF - UNIDO  111,686  - 
TIFES - UNDP  23,211  -104 
TIFES - UNWTO   1,166  
DDAGTF - Pacific Island Forum Secretariat  -275 - 
DDAGTF - UNESCAP  7,086  457 
DDAGTF - FORSEC   8,346  
DDAGTF - OCTA  - - 
Total Retrocession  278,207  433,179  
Total Expenses  18,152,204  21,328,748  
Net Income - Programme Support Fund  
2,022,608  2,006,507  
(Overhead charges - Retrocession)  
 
 
__________