RESTRICTED  
  
WT/BFA/W/304  
 
25 June 2013  
(13-3308)  Page: 1/77  
 Committee on Budget, Finance and Administration    
 
  
  
 
  
 
   
 
 WORLD TRADE ORGANIZATION 
2012 FINANCIAL PERFORMANCE REPORT  WT/BFA/W/304 
 
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  EXECUTIVE SUMMARY OF 2012 
1. The WTO has 157 members (as of end 2012) accounting for approximately 97 per cent of 
global trade. Four new Members formally acceded to Organization in 2012: Montenegro, the Russian Federation, Samoa and Vanuatu. Accession activity remained intense in 2012 with the 
approval of two new memberships (Laos and Taji kistan) that will become effective in 2013. 
2. The WTO also completed at the end of 2012 the construction of its new administrative 
building hosting 300 work stations and an undergr ound parking with 200 spaces.  The Secretariat 
is now entirely located on a single site.  The renovation of the Centre William Rappard (CWR) has 
been completed with the addition of an atrium lobby and three conference rooms in the north and south courtyards, respectively. Furniture and audio- visual equipment is being replaced in existing 
conference and meeting rooms that will become av ailable in 2013. The Swiss authorities financed 
the complete WTO building project engaged in 2008 through a CHF 70 million grant and a 
CHF 60 million interest free loan.  Members have also set aside CHF 20 million, from budgetary savings achieved over the last few years, to fi nance the installation and equipment costs.  The 
building project has been delivered fully on schedule and within its financial envelope. 
3. The Secretariat completed in 2012 its work to enhance the transparency in its financial 
reporting through the implementation of the International Public Sector Accounting Standards 
(IPSAS).  The adoption of these independent an d internationally recognised standards shall 
provide going forward Members with comparable and consistent financial information.  It shall also improve the management of resources and prov ide greater transparency. IPSAS requires the 
recording of "new" financial information that reflects all the resources and obligations of the 
Organization. As previously announced, the implementation of IPSAS generates a degradation of 
the financial situation of the WTO Secretariat, ma inly explained by the recording of the pension 
and "after service health insurance"
1 long-term liabilities. 
4. Budgetary expenditure amounted to CHF 184.7 million in 2012 for an approved budget of 
CHF 196.0 million.  Budgetary savings amounted to a total of CHF 11.3 million. Part of the savings 
can be explained by the implementation of IPSA S, where only goods and services effectively 
received or delivered in the current year are considered as expenses of the year. These savings 
can also be explained by a continued control on the expenditure of the Secretariat and by 
streamlining measures approved by the Members at the end of 2011. Savings of CHF 5.6 million 
have been achieved in part A of the budget on personnel related costs through tighter controls on 
personnel requirements and lower than expected ex penditure on staff benefits. Savings of CHF 3.2 
million have been achieved in part B on admini strative costs as the implementation of IPSAS and 
the Building project had a positive impact on the recording of administrative expenditure in 2012. 
Savings of CHF 2.5 million have been achieved in  part C covering all other expenditure. The 
following key operational savings have been achiev ed in 2012 in addition to the savings forecasted 
as part of the streamlining measures: 
 Savings of 1.5 MCHF on external interpretation and translation through a better 
scheduling of meetings and efficiency gains on translation 
 Savings of 0.5 MCHF on printing and 0.2 MC HF on postage through the implementation 
of the Paperless Secretariat initiative 
 Savings of 0.8 MCHF on building facilities management connected to reduced 
maintenance expenditure and new cleaning contract  
5. The 2012 budget was financed by Members' co ntributions amounting to CHF 195.8 million, 
including the contributions of new Members, and miscellaneous income amounting to 
CHF 2.5 million.  The miscellaneous income is high er than the CHF 1.7 million initially budgeted is 
mainly due to the share of the result on th e ITC 2010-2011 budget returned to the WTO.  
Collection of Members' contributions has been satisfactory in 2012 with 93 per cent of the 
assessed contributions received by the end of the year.  The provision for contribution in arrears 
has also decreased by 9 per cent and amounts to CHF 13.6 million. 
                                               
1 "After service health insurance" refers to  the health coverage system of retirees.  WT/BFA/W/304 
 
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  6. The budgetary savings of CHF 11.3 million are leading to a net surplus of CHF 14.9 million 
for 2012.  It is the sum of the budgetary savings, additional contributions on new Members for CHF 1.5 million, a reduction in the provision for outstanding contributions of CHF 1.3 million and 
higher level of miscellaneous income of CHF 0.8 million. However the financial result for 2012 
amounts to a deficit of CHF 19.9 million. It represents the result of WTO Secretariat according to 
IPSAS. The significant deterioration in the result is due to the impact of the actuarial valuations of 
the liabilities towards the pension and after service health insurance benefits, for CHF 25.4 million 
and CHF 13.7 million, respectively.  
Figure 1 Financial and Budget Surplus/Deficit (MCHF) 
 WT/BFA/W/304 
 
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  CONTENTS 
 
I. INTRODUCTION ....................................................................................................... 8  
A. Budget ................................................................................................................... 8  
B. Outstanding contributions .......................................................................................... 9  
C. Budget Breakdown .................................................................................................. 10 
D. Building ca pacity ..................................................................................................... 11 
E. Implementation of International Pu blic Sector Acco unting Standards .............................. 12 
II. BUDGET PERF ORMANCE ........................................................................................ 13  
A. 2012 Inco me .......................................................................................................... 13 
B. 2012 Consolidated WTO Budget Perf ormanc e .............................................................. 14 
C. 2012 WTO Secretariat bu dget perfor mance ................................................................. 15 
1. Part A Personnel related costs ................................................................................... 16 
2. Part B Administ rative costs ....................................................................................... 18 
3. Part C Othe r costs ................................................................................................... 19 
4. Part D ITC .............................................................................................................. 21 
5. Proposed transfers betwee n budgetary sections ........................................................... 22 
D. 2012 Appellate Body and its Secretariat budget performance ......................................... 22 
III.  TRUST FUNDS PE RFORMANC E ........................................................................... 25  
A. Doha Development Agenda  Global Tr ust Fund ............................................................. 25 
1. General WTO-related technical assistance an d training ................................................. 28 
2. Specialized and advanced tec hnical assistance  training ................................................. 28 
3. Academic support for training  and capacity  building ..................................................... 28 
4. Trainee programmes and intern ships.......................................................................... 28 
5. E-learning .............................................................................................................. 28 
B. Internship Programme for Selected Me mbers' Missions in Geneva (TIMM1) ...................... 29 
C. Netherlands Trainee Programme (TNL05) ................................................................... 30 
D. Trade Facilitation Trust funds – Window I – Participation of Capital-based Officials 
in the Negotiating Grou p Meetings (TTFNG) ......................................................................... 31 
E. Trade Facilitation National Needs Assessments Trust fund (TTFNA) ................................. 33 
F. Ministerial Conference – Participation of Least-Developed Countries (TMI08) .................... 33 
G. Standards and Trade Development Facility (TWB01) ..................................................... 34 
H. China LDCs and Accession s Programme (TCLAP) .......................................................... 34 
I. Enhanced Integrated Framework Executive Secretariat (TIFES) ...................................... 35 
J. Independent Entity – Pre-Shipment Inspection – Deposits (T0013) ................................. 35 
K. Programme Support Fund (EPSF1) ............................................................................. 36 
IV. FINANCIAL STATEMENTS ...................................................................................... 37  
A. Management letter of representation .......................................................................... 37 
B. Opinion of the ex ternal au ditor .................................................................................. 38 
C. Financial statements ................................................................................................ 40  WT/BFA/W/304 
 
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  D. Notes to the financial statements ............................................................................... 44 
1. Note 1 Accountin g policies ........................................................................................ 44 
2. Note 2 Financia l risks policy ...................................................................................... 49 
3. Note 3 First implemen tation of  IPSAS ......................................................................... 49 
4. Note 4 Cash and cash equivalents .............................................................................. 52 
5. Note 5 Receivables from Members, Observers and Donors ............................................. 52 
6. Note 6 Inventories................................................................................................... 53 
7. Note 7  Other receivables ......................................................................................... 53 
8. Note 8  Advances and Prepayments ........................................................................... 54 
9. Note 9 Property, Pl ant and Eq uipment ........................................................................ 54 
10. Note 10  Intangible Assets ........................................................................................ 56 
11. Note 11 Account s payable ........................................................................................ 56 
12. Note 12 Assessed contributi ons paid in advance........................................................... 56 
13. Note 13 Voluntary contributions refundable to donors ................................................... 57 
14. Note 14 Employ ee benefits ....................................................................................... 58 
15. Note 15 Loan and Gr ant ........................................................................................... 60 
16. Note 16 Working Capital fund .................................................................................... 60 
17. Note 17 Re serves .................................................................................................... 61 
18. Note 18 Re venue .................................................................................................... 61 
19. Note 19 Expenses ................................................................................................... 62 
20. Note 20 Segment reporting ....................................................................................... 62 
21. Note 21 Reconciliati on with Budget ............................................................................ 63 
22. Note 22 Key manage ment personnel .......................................................................... 63 
23. Note 23 Contingent assets an d contingent liabilities ..................................................... 64 
24. Note 24 Comm itments ............................................................................................. 64 
25. Note 25 Events after the reportin g date ...................................................................... 64 
E. Schedules .............................................................................................................. 65 
1. Schedule A 2012 Early paymen t encouragemen t scheme .............................................. 65 
2. Schedule B Statement of Outstanding Contributions as 31 December 2012 – 
Members ....................................................................................................................... . 66 
3. Schedule C Statement of Outstanding Contributions as 31 December 2012 – 
Observers ..................................................................................................................... .. 69 
4. Schedule D Voluntary contributions received in 2012 and 2011 per donor and by 
fund…. ........................................................................................................................ ... 70 
5. Schedule E Balance due to donors  as 31 December  2012 and 2011 ................................ 72 
6. Schedule F Interest earned in 2012 and 2011 .............................................................. 74 
7. Schedule G World Trade Organization – Program Support Fund ...................................... 76 
Figures 
Figure 1 Financial and Budget Surplus/Defici t (MCHF)  ............................................................ 3  
Figure 2 Budget Evol ution (MCHF) ....................................................................................... 9  
Figure 3 Outstanding Co ntributions (MCHF) ......................................................................... 10  WT/BFA/W/304 
 
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  Figure 4 WTO 2011/2012 Budget by part ............................................................................ 10 
Figure 5 Key donors to Trust Funds since 2000 .................................................................... 11 
Figure 6 Trust Funds Co ntribution (MCHF) ........................................................................... 12 
Figure 7 2012 Perso nnel Costs (kCHF) ................................................................................ 16 
Figure 8 Comparison Budget/Expend iture for regular staff (k CHF) ........................................... 16 
Figure 9 Temporary Assi stance Expe nditure ......................................................................... 17 
Figure 10 Comparison Budget/Expend iture for temporary staff (kCHF) ..................................... 18 
Figure 11 Comparison Budget/Expenditur e for administrative  costs (k CHF) .............................. 19 
Figure 12 Comparison Budget/Expend iture for Other costs (k CHF) .......................................... 20 
Figure 13 Comparison Budget/Expenditur e for Trade Policy Courses (k CHF) ............................. 21 
Figure 14 Comparison Budget/Expend iture for various costs (k CHF) ........................................ 21 
Figure 15 Allocation of DDAGTF Resources 2012 ................................................................... 25 
Tables 
Table 1. WTO In come (C HF) .............................................................................................. 13 
Table 2. Miscellaneous Income (CHF) .................................................................................. 13 
Table 3. 2012 Consolidated WTO Budget Pe rformance ........................................................... 14 
Table 4. Consolidated Expenditure (CHF) ............................................................................. 15 
Table 5. 2012 WTO Secretar iat Budget Pe rformance ............................................................. 15 
Table 6. Proposed Transfers between  Sections of th e 2012 WTO Budget .................................. 22 
Table 7. Appellate Body and its Secretariat Budge t Perfor mance ............................................. 23 
Table 8 ABOF expe nditure (k CHF) ...................................................................................... 24 
Table 9. Proposed Transfers between Sectio ns of the 2012 Appellate Body and its 
Secretaria t Budget ........................................................................................................... 24 
Table 10. Doha Development Agenda  Global Trust F und (DDAGTF) ......................................... 25 
Table 11 Number of participants who successf ully completed an E-Learning course ................... 29 
Table 12. Mission Internsh ips Programme  (TIMM1) ............................................................... 30 
Table 13. Netherlands Trai nee Programme (TNL05) .............................................................. 31 
Table 14. Trade Facilitation–Participation of Capital-based Officials in the Negotiating 
Group Meetings (TTFNG) ................................................................................................... 33 
Table 15.Trade Facilitation National Needs Assessments Trust fund (TTFNA) ............................. 33 
Table 16.Ministerial Conference – Participat ion of Least-Developed Countries (TMI08) ............... 33 
Table 17. Standards and Trade De velopment Facili ty (TWB01) ............................................... 34 
Table 18 China LDCs and Accessions Programme (TCLAP) ...................................................... 35 
Table 19. Enhanced Integrated Framew ork Executive Secr etariat (T IFES) ................................ 35 
Table 20. Independent Entity – Pre-Shipment Inspection – Deposits (T0013) ............................ 36 
Table 21. Programme Support Fund (EPSF1) ........................................................................ 36 
Table 22 Statement of Financial Position ............................................................................. 40 
Table 23 Statement of Fi nancial Perf ormance ....................................................................... 41 
Table 24 Statement of Changes in Net Assets/Equity ............................................................. 42 
Table 25 Cash Flow Statem ent (Indirec t method) ................................................................. 43 
Table 26 Level of Provisions on  Outstanding Co ntributions ..................................................... 45  WT/BFA/W/304 
 
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  Table 27 Statement of Financ ial Position (Restated) .............................................................. 50 
Table 28 Cash Situation .................................................................................................... 52 
Table 29 Provision for Arrears from Members an d Observers .................................................. 52 
Table 30 Inve ntories ........................................................................................................ 53 
Table 31 Adjustments and write offs ................................................................................... 53 
Table 32 Other Receivables ............................................................................................... 53 
Table 33 Prepayments ...................................................................................................... 54 
Table 34 Building .............................................................................................................  54 
Table 35 Work in progress - Equipment ............................................................................... 54 
Table 36 Equipment ......................................................................................................... 55 
Table 37 Intangible Assets ................................................................................................ 56 
Table 38 Payables ............................................................................................................ 56 
Table 39 Contributions paid in Ad vance by Members and Obse rvers ........................................ 57 
Table 40 Voluntary contribution s refundable to donors .......................................................... 57 
Table 41 Employee Benefits ............................................................................................... 58 
Table 42 Actuarial Assumptions .......................................................................................... 59 
Table 43 Financial a ssets – Pe nsion .................................................................................... 59 
Table 44 Defined benefit obligation - Pension ....................................................................... 59 
Table 45 History of defined benefit obligation s and experience gains and losses - Pension .......... 60 
Table 46 Defined benefit obligation - ASHI ........................................................................... 60 
Table 47 History of defined benefit obligation s and experience gain s and losses - ASHI .............. 60 
Table 48 Working Capita l Fund St atement ........................................................................... 61 
Table 49 Reserves ............................................................................................................ 61 
Table 50 Other revenue .................................................................................................... 61 
Table 51 Segments Fina ncial Performance ........................................................................... 62 
Table 52 Reconciliation between budg et result and fi nancial result .......................................... 63 
Table 53 Key manage ment personnel ................................................................................. 64 
Table 54 Interest to be dist ributed to Memb ers in 2014 ......................................................... 65 
Table 55 Outstanding contributions as 31 December 2012 - Members ...................................... 66 
Table 56 Outstanding contributions as 31 December 2012 - Obse rvers .................................... 69 
Table 57 WTO Trust funds - Voluntary contributions received in 2012 per donor and by 
fund…. ........................................................................................................................ ... 70 
Table 58 WTO Trust funds - Voluntary contributions received in 2011 per donor and by 
fund…. ........................................................................................................................ ... 71 
Table 59 WTO Trust funds - Balance due to donors as 31 December 2012 ................................ 72 
Table 60 WTO Trust funds - Balance due to donors as 1st January  2012 ................................... 73 
Table 61 WTO Trust funds - Interest earn ed in 2012 ............................................................. 74 
Table 62 WTO Trust funds - Interest earn ed in 2011 ............................................................. 75 
Table 63 WTO Progra m support fund .................................................................................. 76 
Table 64 WTO Program support fund actual expenditure and overheads ................................... 76 
Table 65 Overheads shared wi th other orga nizations ............................................................. 77  WT/BFA/W/304 
 
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  I. INTRODUCTION 
1.  In accordance with Financial Regulation 39 of the World Trade Organization (WTO), the 
Director-General submits the financial performance report of the WTO for the financial reporting period of 1 January 2012 through 31 December 2012.  The report is presented in Swiss Francs 
(CHF). 
2. This financial report is made of three parts.  The first part provides information on the 
expenditure for all the activities financed by th e 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 financial statements of the WTO Secretariat and includes the opinion of the External Auditor. 
3. The World Trade Organization (WTO) deals with the rules for international trade.  Its main 
function is to ensure that multilateral trading system remains open, equitable and non-
discriminatory.  The areas of our activity are: 
(a) Implementation and Monitoring of Existing  Trade Rules:  various WTO bodies seek 
to ensure that WTO agreements are being properly implemented.  All WTO 
members undergo periodic scrutiny of their trade policies and practices. 
(b) Trade negotiations:  changes to the rules of trade require the agreement of all 
WTO members, who must reach consensus through negotiations.   
(c) Dispute Settlement:  WTO Members bring disputes to the WTO if they 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 countries build their 
trade capacity.  A large number of training activities are organized each year for officials from developing countries.  This is  part of a wider Aid-for-Trade Initiative, 
under which there is also the Enhanced Integrated Framework (EIF) and the 
Standards and Trade Development Facility (STDF). 
(e) Outreach:  the WTO maintains regular dialogue with non-governmental 
organizations, parliamentarians, other international organizations, the media and 
the general public on various aspects of the WTO and the on-going Doha negotiations, with the aim of enhancing cooperation and increasing awareness of WTO activities. 
A. Budget 
4. A budget proposal covering the expenses and in come for the biennium is submitted to the 
Committee on Budget, Finance and Administration.  It comprises the Budget for the first year of 
that biennium, and the provisional Budget for the second year.  The proposal reflects needs based 
on the projected level of activity for the bienni um.  The 2012 Budget approved by General Council 
(WT/GC/M/134), on recommendation of the Committee on Budget, Finance and Administration 
(WT/BFA/128), amounted to some CHF 196 million.  WT/BFA/W/304 
 
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  Figure 2 Budget Evolution (MCHF) 
 
 
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 Members.  
Assessed contributions represent more than 99 per cent of the funding of the 
Budget. 
(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 office space, contributions of Observers and a small overhead fee 
collected on trust funds expenditure. 
B. Outstanding contributions 
6. The amount of outstanding Members' contributions over the past 15 years has remained 
globally stable with a decreasing trend in the last  two years.  Members who have one or more than 
one year of outstanding contributions at the end of the financial year are subject to Administrative 
Measures.  There are now three categories of Administrative measures depending on the number 
of years of outstanding contributions.  Members have the possibility to enter into a payment plan that suspends Administrative Measures.  Twelve Members were parts of such plans at the end of 2012. 
 WT/BFA/W/304 
 
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  Figure 3 Outstanding Contributions (MCHF) 
Budget Breakdown 
7. The WTO Budget is divided into 4 parts and 12 sections by type of expenditure.  Part A 
covers personnel related costs, part B covers admi nistrative costs, part C covers other expenditure 
and part D covers the WTO's contribution to the budget of the International Trade Centre (ITC). 
Figure 4 WTO 2011/2012 Budget by part 
 
8. Personnel-related expenditure represents around 70 per cent of the total expenditure 
incurred by the Secretariat.  The personnel-related costs include salary, pension and common staff 
costs (including among others untaken annual leave, medical insurance and benefits for international staff such as education grants or home leave) for those staff in regular positions and 
those hired under temporary assistance.  Since 2009, provisions for accrued benefits such as 
home leave, education grant, family allowances and untaken annual leave have been gradually 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 notes to the financial 
statements. 
 WT/BFA/W/304 
 
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  C. Building capacity 
9. 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 Tariffs and Trade (GATT) in 1964, ITC has 
operated since 1968 under the joint aegis of GA TT/WTO and the UN, the latter acting through the 
United Nations Conference for Trade and Develo pment (UNCTAD).  ITC is the focal point for 
technical assistance and cooperation activities in the trade promotion field, within the UN system 
of assistance to developing countries, as affirmed by the Economic and Social Council in its 
resolution 1819 (LV) of 9 August 1973. 
10. In addition to its regular budget, the WTO obtains some voluntary contributions for 
selected programmes that are managed through trust funds. In 2012, the WTO incurred CHF 22 
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-developed countries to make better use of the WTO and draw greater benefit from the 
multilateral trading system. 
Figure 5 Key donors to Trust Funds since 2000 
 
11. The core of the WTO trade related activities  are channelled through the Doha Development 
Agenda Global Trust Fund (DDAGTF).  The DDAGTF ac tivities are carried out in conformity with the 
Biennial Technical Assistance and Training Plan (The Plan).  The Plan 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 and 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 in favour of ear-marked funds.   WT/BFA/W/304 
 
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  Figure 6 Trust Funds Contribution (MCHF) 
 
D. Implementation of International Public Sector Accounting Standards 
12. 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 but also other income and expenditure that are not part of the budget (the 
provision for contribution in arrears, the write off and adjustment of publication inventories and the miscellaneous income that was not realised).  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 decide d by the General Council.  In case of a deficit, 
it should be covered to the extent possible, by  transfer from the Working Capital Fund.  Any 
uncovered part should be included in the next year's budget.  
13. The implementation of the International Publ ic Sector Accounting Standards (IPSAS) in 
2012 introduces the financial or accounting result. This financial result includes expenditure not previously budgeted and accounted and relating to pension and after service health insurance 
benefits. Members will have to review the Financial Regulations to determine how to take into 
account the new financial result. 
   
 
 
  
 
 WT/BFA/W/304 
 
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  II. BUDGET PERFORMANCE 
A. 2012 Income 
Table 1. WTO Income (CHF) 
 Budget  Actual Balance 
Contributions    194,300,000    195,766,150 1,466,150 
Miscellaneous income        1,703,900        2,461,504         757,604 
Grand Total 196,003,900  198,227,654     2,223,754  
 
14. The total income of the WTO, excluding trus t funds, amounted to CHF 198.2 million in 
2012.  It is CHF 2.2 million abov e the budgeted amount due to additional contributions assessed 
on the four new Members joining the WTO in 2012 for CHF 1.5 million and a higher level of 
miscellaneous income for CHF 0.7 million. The acce ssion of the Russian Federation in 2012 brought 
additional contribution of CHF 1.4 million. 
Table 2. Miscellaneous Income (CHF) 
 Budget Actual Balance 
Sale of Publications & Royalties          300,000 354,174 54,174 
Savings on previous year's outstanding obligations          150,000          435,475         285,475 
Refund of prior year's expenditure 0 1,142,837      1,142,837 
Rental of meeting rooms & office space          140,000          102,500        (37,500) 
Contributions of Observers Countries          903,495          844,008        (59,487) 
Trust funds Contributions          200,000          176,617        (23,383) 
Gains/losses on foreign exchange transactions  0            74,479          74,479 
Other            10,405 (668,586) (678,991) 
Total      1,703,900       2,461,504       757,604  
 
15. Miscellaneous income amounted to CHF 2.5 million in 2012.  The higher level of 
miscellaneous income is largely due to higher than  expected savings on previous year's obligations 
and on the refund of prior year's expenditure. The amount of refund of prior year's expenditure is 
mainly explained by the share of the result on  the ITC 2010-2011 budget due to the WTO for an 
amount of CHF 0.8 million and the reimbursement of previous year's medical claims by the 
insurance company for CHF 0.3 million.  The negative amount of other miscellaneous income is 
composed of income generated on the sale of old vehicles, printing and other equipment for an amount of CHF 0.2 million that is reduced by a ne gative revenue of almost CHF 1.0 million for the 
partial offsetting of the arrears of the 12 Member s having signed payment plans to liquidate their 
arrears.  WT/BFA/W/304 
 
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  B. 2012 Consolidated WTO Budget Performance  
Table 3. 2012 Consolidated WTO Budget Performance 
Part Section Item Budget 
(CHF) Expenditure 
(CHF)  Balance 
(CHF) 
A Sect  1 Work Years (a) Salary 89,360,600 84,604,109 4,756,491 
    (b) Pension 19,021,100     18,197,385         823,715 
    (c) Common Staff Costs 18,619,800     16,820,308      1,799,492 
  Sect  2 Temporary Assistance 
  15,170,500 16,931,870 (1,761,370) 
B Sect  3 Communications (a) Telecommunications 674,000 500,281 173,719 
    (b) Postal Charges 1,105,700 875,460 230,240 
  Sect  4 Building Facilities (a) Rental 693,000 635,899 57,101 
    (b) Utilities 1,929,000 1,686,449 242,551 
    (c) Maintenance and 
Insurance 1,692,000 1,202,915 489,085 
  Sect  5 Permanent 
Equipment (a) Permanent Equipment 1,310,000 1,012,873 297,127 
    (b) Permanent Equipment 
Lease 44,000 216,407 (172,407) 
  Sect  6 Expendable Supplies 
  1,201,000 900,309 300,691 
  Sect  7 Contractual Services. (a) Reproduction 1,470,600 928,241 542,359 
    (b) Office Automation 3,365,000 2,709,605 655,395 
    (c) Other 238,000 109,750 128,250 
    (d) Security Outsourcing 3,963,000 3,738,183 224,817 
C Sect  8 Staff Overheads (a) Training 1,525,000 1,167,191 357,809 
    (b) Insurance 3,116,000 2,747,508 368,492 
    (c) Joint Services 255,000 237,632 17,368 
    (d) Miscellaneous 66,000 5,946 60,054 
  Sect  9 Missions (a) Missions Official 1,651,000      1,820,901      (169,901) 
    (b) Missions Technical 1,406,000      1,066,946          339,054 
  Sect 10 Trade Policy Courses 2,960,100 2,546,866 413,234 
  Sect 11 Various (a) Representation and 
Hospitality 299,000 263,237 35,763 
    (b) Dispute Settlement 
Panels 987,000 420,778 566,222 
    (c) Experts 50,000 0 50,000 
    (d) Appellate Body Members 793,500 823,292 (29,792) 
    (e) Library 600,000 571,936 28,064 
    (f) Publications 780,000 267,548 512,452 
    (g) Public Information 
Activities 300,000 170,849 129,151 
    (h) External Auditors 50,000 51,961 (1,961) 
    (i) Ministerial Operating 
Fund 600,000 600,000 0 
    (j) ISO 57,000 47,500 9,500 
    (k) Other 140,000 126,528 13,472 
    (l) Appellate Body Operating 
Fund 1,600,000 1,758,674 (158,674) 
D Sect 13 ITC 
  18,911,000 18,911,000 0 
 Grand Total 
  196,003,900  184,676,337 11,327,563  
 
16. Consolidated budgetary expenditure comprises the expenditure for a) the WTO Secretariat 
and b) the Appellate Body and its Secretariat.  WT/BFA/W/304 
 
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  Table 4. Consolidated Expenditure (CHF) 
 Budget Actual Balance 
WTO Secretariat 189,962,500 178,666,208 11,296,292 
Appellate Body and its Secretariat 6,041,400 6,010,129 31,271 
Grand Total 196,003,900  184,676,337 11,327,563  
 
C. 2012 WTO Secretariat budget performance 
Table 5. 2012 WTO Secretariat Budget Performance 
Part Section Item Budget (CHF) Expenditure 
(CHF) Balance (CHF)  
A Sect  1 Work Years (a) Salary 87,006,100 82,602,611 4,403,489 
    (b) Pension 18,523,000 17,768,721 754,279 
    (c) Common Staff Costs 18,084,600 16,380,543 1,704,057 
  Sect  2 Temporary Assistance 15,104,900 16,551,082 (1,446,182) 
B Sect  3 Communications (a) Telecommunications 667,500 500,281 167,219 
    (b) Postal Charges 1,105,700 875,460 230,240 
  Sect  4 Building Facilities (a) Rental 693,000 635,899 57,101 
    (b) Utilities 1,916,000 1,686,449 229,551 
    (c) Maintenance and 
Insurance 1,687,000 1,195,790 491,210 
  Sect  5 Permanent 
Equipment (a)Permanent Equipment 1,285,000 923,285 361,715 
    (b)Permanent Equipment 
Lease 44,000 216,407 (172,407) 
  Sect  6 Expendable Supplies 1,181,000 893,287 287,713 
  Sect  7 Contractual 
Services (a) Reproduction 1,455,600 915,545 540,055 
    (b) Office Automation 3,355,000 2,709,605 645,395 
    (c)Other 238,000 109,750 128,250 
    (d) Security Outsourcing 3,963,000 3,738,183 224,817 
C Sect  8 Staff Overheads (a) Training 1,500,000 1,164,773 335,227 
    (b) Insurance 3,104,000 2,737,270 366,730 
    (c) Joint Services 255,000 237,632 17,368 
    (d) Miscellaneous 64,000 5,946 58,054 
  Sect  9 Missions (a) Missions Official 1,601,000 1,793,505 (192,505) 
    (b) Missions Technical 1,406,000 1,066,946 339,054 
  Sect 10 Trade Policy Courses 2,960,100 2,546,866 413,234 
  Sect 11 Various (a) Representation and 
Hospitality 298,000 260,420 37,580 
    (b) Dispute Settlement Panels 987,000 420,778 566,222 
    (c) Experts 50,000 0 50,000 
    (e) Library 590,000 568,666 21,334 
    (f) Publications 780,000 252,669 527,331 
    (g) Public Information 
Activities 300,000 170,849 129,151 
    (h) External Auditors 50,000 51,961 (1,961) 
    (i) Ministerial Operating Fund 600,000 600,000 0 
    (j) ISO 57,000 47,500 9,500 
    (k) Other 140,000 126,528 13,472 
D Sect 13 ITC 18,911,000 18,911,000 0 
 Grand Total 189,962,500  178,666,208 11,296,292  
  WT/BFA/W/304 
 
- 16 - 
 
  1. Part A Personnel related costs 
17. Personnel related costs include salary, pension and common staff costs for staff in regular 
position (section 1) and those hired under temporary assistance (section 2). 
Figure 7 2012 Personnel Costs (kCHF) 
 
 
Figure 8 Comparison Budget/Expenditure for regular staff (kCHF) 
 
 
18. A budgetary saving of CHF 6.8 million was ac hieved for regular staff expenditure, under 
section 1 of the budget, in 2012.  This total saving is a combination of under spending for salaries 
(CHF 4.4 million), pensions (CHF 0.7 million) an d common staff costs (CHF 1.7 million). Salary and 
pension expenditure were almost identical in 2011 and generated the same amount of savings. 
This saving is due to a large extent to a change  of method in the recording of temporary staff 
recruited to fill vacant regular staff positions.  From the 1st January 2011, the WTO records expenditure related to temporary staff hired to fill vacant positions under Temporary Assistance, in 
the section 2 of the budget.  This expenditure was previously recorded in the section 1 of the 
budget.  This change of accounting method re flects better the nature of the expenditure 
corresponding to temporary contracts. The under spending in regular staff salary is offsetting the over spending under temporary assistance. The Secretariat has also more carefully reviewed the  WT/BFA/W/304 
 
- 17 - 
 
  need to replace each position becoming vacant  and evaluated the grade of those positions. 
Replacements at lower grades and at the entry posi tion of each grade are also inducing savings on 
salaries. Pensions are directly connected to the salary and no changes in the amount of pension contribution took place in 2012. 
19. Common staff costs include the following elements:  health insurance, family allowances, 
education grants, home leave, installation grant,  language allowances, non-resident allowance, 
rental subsidy, travel and removal, repatriation grant, untaken annual leave and termination 
indemnity.  Since 2011, all short-term employee benefits (untaken annual leave, home leave, 
education grant, family allowances and separati on benefits) are recorded, in conformity with 
International Public Sector Accounting Standard s (IPSAS). The CHF 1.7 million savings on common 
staff costs is essentially connected with a lower than anticipated amount expenditure on family 
allowances (CHF 0.6 million), education grant (C HF 0.4 million) and health insurance (CHF 0.4 
million). The budget had foreseen an increase of  5% on health insurance premiums in 2012 that 
did not materialize by the end of the year.  
20. Temporary assistance is mainly used to hire interpreters and translators, informatics 
consultants and other general support personnel. 
Figure 9 Temporary Assistance Expenditure 
 
 
21. Temporary assistance expenditure has reduce d by CHF 4.1 million in 2012 compared to 
2011. The budgetary overspending has also reduce d from CHF 4.8 million to CHF 1.4 million in 
2012. The overspending is still essentially explaine d by the change of method in the recording of 
temporary staff recruited to fill vacant regular staff positions implemented already in 2011.     WT/BFA/W/304 
 
- 18 - 
 
  Figure 10 Comparison Budget/Expenditure for temporary staff (kCHF) 
 
22. The expenditure related to external interpreters and translators, in the language category, 
have been reduced by almost CHF 1.5 million  in 2012 compared to 2011 and resulted in a 
budgetary saving of the same amount. Half of the savings has been achieved in interpretation services through a better monitoring of the availa ble resources. The other half has been obtained 
on translation services. As the amount of words being translated has not been reduced to the 
same proportion as the expenditure, the saving achi eved is largely due to efficiency gains obtained 
by internal translation resources and better use of technology. The level of general support in temporary assistance is above budget by CHF 2.6 million. As explained in previous paragraphs it is 
essentially due to the filling of vacant positions by temporary staff. The level of temporary 
assistance in the general support has also redu ced by CHF 2.1 million in 2012 compared to 2011 
through a more careful review of th e need for temporary assistance.  
2. Part B Administrative costs 
23. Administrative costs include expenses related to communications, maintenance and 
insurance of the building, permanent equipment and supplies.  They include also contractual 
services for reproduction, maintenance of IT ap plications, purchase of software and security 
outsourcing services. Administrative costs amount ed to CHF 14.4 million in 2012, a reduction of 
CHF 2.2 million against 2011. It resulted in a bu dget saving of CHF 3.2 million in 2012.  Savings 
has been achieved on all four budget sections under this part of the budget.  
 WT/BFA/W/304 
 
- 19 - 
 
  Figure 11 Comparison Budget/Expenditur e for administrative costs (kCHF) 
 
24. The net budgetary saving of CHF 0.4 million on communications is explained by reduced 
telecommunication charges of CHF 0.2 million and reduced postal charges of CHF 0.2 million. The 
reduction of postal charges is the result of the approved Paperless Secretariat strategy to reduce 
the amount of official documentation being prin ted and distributed by mail. The reduction in 
telecommunication charges is the result of closer monitoring and reduced rates.  
25. The net budgetary saving of CHF 0.8 million on building facilities is essentially connected 
with reduced maintenance expenditure of CHF 0.5 million and reduced cleaning expenditure of CHF 0.2 million. The completion of the Building Projec t has reduced the need for building maintenance 
in the short-term. 
26. Savings of CHF 0.2 million and CHF 0.3 million have been achieved on the procurement of 
permanent equipment and expendable items, respecti vely. Part of the savings have been achieved 
with the implementation of the new IPSAS account ing approach based on accruals where only 
goods and services effectively received or delivered in the current year are considered as expenses 
of the year. 
27. The net budgetary saving of CHF 1.5 million on contractual services is essentially explained 
by reduced expenditure in the printing operations for CHF 0.5 million connected to the reduction in 
the volume of documents being printed; reduced IT  expenditure for CHF 0.6 million linked to the 
implementation of the new accounting approach based on accruals and the recording of the 
expenditure in the appropriate period; and a reduct ion in the expenditure on the security contract 
for CHF 0.2 million.  
3. Part C Other costs 
28. Other costs include expenses such as staff overhead, missions, trade policy training 
courses, dispute settlement panels, library, publications and contribution to the Ministerial 
Operating Fund. Other costs amounted to CHF 12.0 million in 2012, a reduction of almost CHF 0.5 million against 2011. It resulted to a budget savi ng of CHF 2.7 million in 2012.  Savings has been 
achieved on all four budget sections under this part of the budget. 
 WT/BFA/W/304 
 
- 20 - 
 
  Figure 12 Comparison Budget/Expe nditure for Other costs (kCHF)  
 
29. Staff overheads relate to training, insurance and costs related to shared common services.  
The net budgetary savings of CHF 0.8 million is mainly explained by a saving on the training expenditure for CHF 0.3 million; a saving on the contribution to the health insurance for retirees 
for CHF 0.2 million as the premium has not increased in 2012; and a saving on other insurances 
related to staff for CHF 0.2 million. 
30. A net budgetary saving of CHF 0.1 million has been achieved on Missions. A saving of CHF 
0.3 million has been achieved on technical assistance related mission due to a lower demand 
partly induced by the implementation of e-lear ning solutions and an overspending of CHF 0.2 
million has been induced on other official missions. 
31. In 2012, the WTO Secretariat delivered a series of interactive training activities as part of 
its Geneva-based training programme funded from  the regular budget.  During this year, the 
Geneva-based course curriculum continued to focus on the design and delivery of advanced (PLS Level 3) training activities in both the "generalist" and "specialist" PLS paths, ranging in length 
from one week to three months.  They included two PLS Level 3 "generalist" ATPCs (one in English 
and one in French), PLS level 3 "specialist" advanced thematic courses on specific WTO topics, including innovative first-ever activities such as an advanced dispute settlement course jointly with 
ICTSD and ACWL, and other first-ever activities  on trade and environment, regional trade 
agreements, and on the special interests and priorities of LDCs, as well as other advanced activities on dispute settlement, SPS, TBT, Agricu lture and TRIPS (jointly with WIPO).  A budgetary 
saving of CHF 0.4 million has been obtained on Trade Policy Courses in 2012. Expenditure on 
Trade Policy Courses has increased by CHF 0.6 mi llion against 2011. The saving against the budget 
has been largely achieved due to a lower cost per course than originally planned. 
 WT/BFA/W/304 
 
- 21 - 
 
  Figure 13 Comparison Budget/Expenditure for Trade Policy Courses (kCHF) 
 
32. A net budgetary saving of CHF 1.3 million ha s been achieved on section 11 of the budget 
that comprises various types of expenditure. The budgetary savings have been achieved in mainly 
three areas: dispute settlement panels for some CHF 0.6 million; publications for CHF 0.5 million 
and public information activities for CHF 0.1 milli on. The level of expenditure on dispute settlement 
panels is difficult to predict as it depends on the number of panels, the travel costs to bring panellists to Geneva and if they are eligible or not for a fee. The saving on publication is largely 
due to a change in the accounting approach to record expenditure for the production of 
publications. Some publication production expenditures are now included in the value of the publication inventory and are only expensed once the publication is sold. The level of expenditure 
on public information activities has been maintained below budget and at the same as in 2011.  
Figure 14 Comparison Budget/Expend iture for various costs (kCHF) 
 
4. Part D ITC  
33. The actual WTO contribution to the budget of the International Trade Centre (ITC) was 
exactly the budgeted amount for a total of CHF 18,911,000. 
 WT/BFA/W/304 
 
- 22 - 
 
  5. Proposed transfers between budgetary sections 
34. In accordance with Financial Regulation 24 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 
follows: 
Table 6. Proposed Transfers between  Sections of the 2012 WTO Budget 
Part Section Budget Expenditure Balance Proposed 
Transfers Revised 
Appropriation  Balance 
A Sect 1 Work Years 123,613,700  116,751,876    6,861,824 (1,446,182)    122,167,518    5,415,642 
  Sect 2 Temporary 
Assistance    15,104,900    16,551,082  (1,446,182)    1,446,182     16,551,082                 -   
B Sect 3 Communications      1,773,200      1,375,741        397,459          1,773,200        397,459  
  Sect 4 Building 
Facilities      4,296,000     3,518,138        777,862           4,296,000        777,862  
  Sect 5 Permanent 
Equipment      1,329,000      1,139,693        189,307           1,329,000       189,307  
  Sect 6 Expendable 
Supplies     1,181,000         893,287        287,713           1,181,000       287,713  
  Sect 7 Contractual 
Services      9,011,600      7,473,083    1,538,517           9,011,600     1,538,517  
C Sect 8 Staff Overheads      4,923,000     4,145,621       777,379           4,923,000       777,379  
  Sect 9 Missions      3,007,000     2,860,451       146,549           3,007,000        146,549  
  Sect 10 TPTC     2,960,100      2,546,866      413,234         2,960,100        413,234 
  Sect 11 Various      3,852,000     2,499,371    1,352,629          3,852,000     1,352,629 
D Sect 13 ITC   18,911,000    18,911,000                 -         18,911,000                -   
Grand Total 189,962,500 178,666,208  11,296,292     189,962,500  11,296,292  
 
D. 2012 Appellate Body and its Secretariat budget performance 
35. The budget for the Appellate Body and its Secr etariat is distinct from the budget of the 
WTO Secretariat.  Expenditure 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 and its 
Secretariat budget follows the same structure as the one used for the WTO Secretariat.   WT/BFA/W/304 
 
- 23 - 
 
  Table 7. Appellate Body and its Secretariat Budget Performance 
Part Section Item Budget Expenditure Balance 
A Sect 1 Work Years (a) Salary 2,354,500 2,001,498 353,002 
  (b) Pension 498,100 428,664 69,436 
  (c) Common Staff Costs 535,200 439,765 95,435 
 Sect 2 Temporary Assistance 65,600 380,788 (315,188) 
B Sect 3 Communications (a) Telecommunications 6,500 0 6,500 
 Sect 4 Building Facilities (b) Utilities 13,000 0 13,000 
  (c) Maintenance and 
Insurance 5,000 7,125 (2,125) 
 Sect 5 Permanent Equipment 25,000 89,588 (64,588) 
 Sect 6 Expendable Supplies 20,000 7,021 12,979 
 Sect 7 Contract ual Services (a) Reproduction 15,000 12,697 2,303 
  (b) Office Automation 10,000 0 10,000 
C Sect 8 Staff Overheads (a) Training 25,000 2,418 22,582 
  (b) Insurance 12,000 10,238 1,762 
  (d) Miscellaneous 2,000 0 2,000 
 Sect 9 Missions (a) Missions Official 50,000 27,396 22,604 
 Sect 11 Various (a) Representation and 
Hospitality 1,000 2,816 (1,816) 
  (d) Appellate Body Members 793,500 823,292 (29,792) 
  (e) Library 10,000 3,270 6,730 
  (f) Publications 0 14,880 (14,880) 
  (g) Appellate Body Operating 
Fund 1,600,000 1,758,674 (158,674) 
Grand Total 6,041,400  6,010,129 31,271  
 
36. The expenditure incurred by the Appellate Body  and its Secretariat amounted to CHF 6.0 
million in 2012. It led to an overall budget savi ng of some CHF 30,000. The actual expenditure is 
lower than in 2011 by some CHF 170,000.   
37. Expenditure for permanent staff of the Appellate Body Secretariat amounted to CHF 2.9 
million in 2012. It generated a budget saving of CHF 0.5 million. The 2012 budget had foreseen 
additional funding of some CHF 0.4 million for two additional one year permanent staff positions in 
the Appellate Body Secretariat. This additional funding has instead been used to fund temporary 
positions. The temporary assistance budget ha s been overspent by some CHF 0.3 million. 
38. The Appellate Body Secretariat moved in 2012 to a new office area. It required some 
additional expenditure for permanent equipment above the budget amount for some CHF 65,000. 
39. Expenditure on Appellate Body Members' retainer fees amounted to some CHF 820,000. 
They were higher than budgeted by CHF 30,000 as the mandates of some Appellate Body 
Members were extended by a few months in order to comp lete on-going appeals.   
40. The contribution to the Appellate Body Operating Fund (ABOF) that covers for the variable 
costs associated to appeals, mainly daily fees  and travel costs of Appellate Body Members, 
amounted to CHF 1.8 million in 2012. The contribu tion was above the budget by almost CHF 0.2 
million as expenditure incurred by the ABOF were more important due to intense appeal activity at the start and at the end of 2012. The detail of the expenditure incurred by the ABOF in 2012 is 
presented in the following table. 
 
  WT/BFA/W/304 
 
- 24 - 
 
  Table 8 ABOF expenditure (kCHF) 
Statement of Appellate Body Operating Fund Expenditure (kCHF)   
Opening Balance as at 1 January 2012            53  
 
 
Contribution from the regular budget of the Appellate Body and its Secretariat       1,759  
 
 
Expenditure in 2012: 
 
Appellate Body Members daily fees        (829) 
Appellate Body Members travel expenditure       (617) 
Temporary assistance expenditure       (275) 
Transcribers          (73) 
Oral hearing filming          (8) 
Postage           (9) 
Total expenditure    (1,812)  
 
 
Closing balance as at 31 December 2012              0  
 
 
41. In accordance with Financial Regulation 24 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 
follows: 
Table 9. Proposed Transfers between Sections of the 2012 Appellate Body and its Secretariat 
Budget 
Part Section Budget Expenditure  Balance Proposed 
Transfers Revised 
Appropriation  Balance  
A Sect 1 Work Years   3,387,800     2,869,927    517,873  (517,873)        2,869,927            -   
  Sect 2 Temporary 
Assistance        65,600         380,788  (315,188)     315,188            380,788            -   
B Sect 3 Communications          6,500                   -        6,500               -                6,500      6,500  
  Sect 4 Building Facilities        18,000            7,125    10,875               -             18,000   10,875  
  Sect 5 Permanent 
Equipment        25,000          89,588  (64,588)      64,588             89,588           -   
  Sect 6 Expendable 
Supplies        20,000            7,021     12,979               -             20,000   12,979  
  Sect 7 Contractual 
Services       25,000           12,697   12,303    (11,386)             13,614        917  
C Sect 8 Staff Overheads        39,000          12,656     26,344   (26,344)             12,656            -   
  Sect 9 Missions        50,000           27,396    22,604    (22,604)             27,396            -   
  Sect 11 Various   2,404,500     2,602,932  (198,432)    198,432        2,602,932            -   
  Grand Total  6,041,400    6,010,129   31,271                -       6,041,400   31,271  
 
  WT/BFA/W/304 
 
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  III. TRUST FUNDS PERFORMANCE 
42. This part describes the activities performe d in 2012 using extra-budgetary funds. The 
flagship of the WTO's trust funds is the Doha Development 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. 
A. Doha Development Agenda Global Trust Fund 
Figure 15 Allocation of DDAGTF Resources 2012 
 
 
43. The complete qualitative and quantitative over view of technical assistance and training 
activities undertaken in each year is presented by the Secretariat to the Membership in the spring 
of the following year in a separate report. 
Table 10. Doha Development Agenda Global Trust Fund (DDAGTF) 
Financial Report Summary (CHF)  2012 2011 
Funds as at 1 January  10,252,801 8,879,564 
Transfer from Trade Facilitati on Needs Assessment Fund  0 24,977 
Contributions received 12,106,625 15,075,383 
Interest earned  26,746 21,843 
Total funds 22,386,172 24,001,767 
Total expenditures (9,969,639) (13,748,966) 
Balance as at 31 December 12,416,533 10,252,801 
 
44. The Doha Development Agenda Global Trust fund (DDAGTF) was established in 
December 2001 to finance technical assistance pr ogrammes 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  WT/BFA/W/304 
 
- 26 - 
 
  institutional and human capacity in beneficiary countries; address trade policy issues and 
concerns; facilitate fuller participation of beneficiaries in the Multilateral Trading System; and encourage effective participation in the negotiations. 
45. The WTO's technical assistance and training programmes are primarily geared towards 
government officials from WTO Members and acceding countries who 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 academics, civil 
society, parliamentarians and private sector representatives is targeted through the academic and 
outreach programmes. 
46. 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. 
47. The TA Plan identifies the objectives and ty pes 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 developing  country Member and three for least-developed 
countries (LDCs). 
48. The TA Plans is structured around a progressive learning strategy designed in such a way 
as to: 
(a) ensure that the beneficiaries are gradually moving to higher levels of learning, 
(b) contribute to 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. 
49. 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 competencies of the partner organizations. 
50. The TA Plan includes a mix of TA products that are consistent with the Progressive 
Learning Strategy.  Each product targets differe nt needs, objectives, audiences and levels of 
knowledge. 
51. The TA products can be grouped broadly 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 traditional 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. Relevant activities can be held in Geneva or in the field. 
(c) Specialized and advanced technical assistance training – National/regional 
seminars and workshops as well as specialized courses for the initiated and  WT/BFA/W/304 
 
- 27 - 
 
  specialists/technicians. The focus is on providing in-depth training and enhancing 
skills that have a direct practical value in implementing WTO Agreements. 
(d) Academic support for training and capacity building – Activities that focus on 
building partnerships with trade policy-related academic community members in 
Member countries (e.g. workshops for university professors on WTO matters, 
support programmes for 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. 
52. In addition to the direct costs of the various training activities, some staff costs related to 
the delivery of the technical assistance activities are funded from the DDAGTF. 
53. TRTA programmes implemented under the DDAGTF in 2012 were based on the Biennial 
Technical Assistance and Training Plan 2012-2013 (WT/COMTD/W/180/Rev.1). The Committee on 
Trade and Development and the Committee on Bu dget, Finance and Administration jointly 
examined and endorsed the Technical Assistance and Training Plan 2012-2013. Subsequent to the 
recommendation of the Committee on Budget, Finance and Administration, the General Council 
approved a target amount of CHF 18 million fo r the DDAGTF for each year of the biennium, 
corresponding to the estimated costs of the activities contained in the Plan. This represented a decrease from the prior years where the target amount was CHF 24 million. The new target largely 
reflects the capacity of Members to participate in and the WTO to implement these types of 
activities.  The actual level of expenditure in th e DDAGTF has been much closer to CHF 18 million 
in most years. 
54. The DDAGTF is a revolving fund, i.e. the remaining balance at the end of a year is carried 
forward to the next year of the fund's operation and counts toward meeting the periodic benchmarks set for contribution receipts as follows: 
(a) 2 5  p e r  c e n t  o f  t h e  f o l l o w i n g  y e a r ' s  t a r g e t  a m o u n t  t o  b e  i n  t h e  b a n k  b y  
31 December; 
(b) another 50 per cent for an overall 75 per cent by 31 March;  and 
(c) 100 per cent by the end of June. 
55. This approach is designed to allow smooth and effective implementation, through adequate 
and timely receipt of funds. 
56. In 2012 the actual level of contributions starte d the year ahead of the benchmarks due to 
the carry forward of a strong balance at the end of  2011.  A slow rate of contributions in the first 
4-5 months of the year meant that contributions fell behind the benchmarks in the second quarter, but by the summer break the benchmark of 100 % was met. 
(a) 60 per cent was in the bank at 31 December 2011; 
(b) 60 per cent was in the bank at 31 March 2012; 
(c) 82 per cent was in the bank at 30 June 2012; 
(d) 111 per cent was in the bank at 30 September 2012; 
(e) 124 per cent was in the bank at 31 December 2012. 
57. The level of new contributions received in 2012 was 20% lower than in the previous year 
and 30% below the long-term average. This was essentially due to a decline in the number of 
donors. There were five fewer donors in 2012 than in 2011. 
58. Main activities implemented in 2012, many of which were undertaken in partnership with 
other agencies and bodies, include:  WT/BFA/W/304 
 
- 28 - 
 
  1. General WTO-related technical assistance and training 
 Five two-month Regional Trade Policy Courses (RTPC).  They covered Africa, Central and 
Eastern Europe, Middle East, Asia/Pacific, and Latin America. 
  Seven Geneva-based topic-specific symposia and four regional and sub-regional training 
courses of shorter duration. 
2. Specialized and advanced technical assistance training 
 6 national topic-specific technical assistance activities including the Trade Policy Review 
Mechanism missions. 
 29  topic-specific regional seminars (on Agriculture, Dispute Settlement, Government 
Procurement, Non-Agriculture Market Access, Regional Trade Agreements, Rules, Sanitary and Phytosanitary Measures, Services, Technical Barriers to Trade, Trade and 
Development, Trade and Environment, Trade Facilitation and Trade-Related Aspects of 
Intellectual Property). 
 Three intensive courses on trade negotiation skills. 
 Four outreach activities for parliamentarians and civil society. 
 A variety of activities dedicated to information technology development in 2012, 
including the establishment or    the upgrading of six reference centres (Malawi, Nigeria, 
Rwanda, Zambia, Togo and Costa Rica). 
3. Academic support for training and capacity building 
 One regional workshop and 8 support missions to WTO Chair holder institutions.  
 One conference & board meeting. 
 15 WTO Chairs received on-going support. 
 15 review missions. 
 1 GTAP conference. 
4. Trainee programmes and internships 
 Eight Regional Coordinator Internships. 
5. E-learning   
59. In 2012, E-Learning continued to deliver its online courses in the three official languages 
on a non-stop basis all-year-round. This new approach in the delivery of the courses, which started in 2011, has permitted to respond to the increasing demand for E-Learning courses from Members and to better contribute to the capacity building of the WTO in line with the PLS and RBM.   
60. The catalogue of E-Learning courses was enriched in 2012 with four new courses - Trade 
and Development, WTO and Trade Economics: Th eory and Policy, WTO Market Access Databases 
and My Course. In total, 14 E-Learning courses were open for registration in 2012. Of all selected 
participants, 45% on average were in the genera list path and 55% in the specialist path of the 
PLS.  
61. My Course is an innovative course based on a modular approach, which permit participants 
to identify gaps in their WTO knowledge, select specific modules fitting their individual learning 
objectives and build a tailored-made course in line with their learning profile. Besides, the courses Introduction to the WTO (revised version) and Tr ade and Environment were made available also in  WT/BFA/W/304 
 
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  French and Spanish. New multimedia components on specific trade-related issues were added to 
complement the entire course material and enhance their pedagogical impact.  
62. The 2012 online course programme therefore included the following courses available 
all-year-round: 
(a) Level 1 Introduction to the WTO; 
(b) Level 2 
(i) Generalist Path: 
 The Multilateral Trade Agreements and the WTO; 
 The WTO and Trade Economics: Theory and Policy. 
 
(ii) Specialist Path: 
 Agriculture in the WTO; 
 Non-agricultural Market Access in the WTO; 
 Sanitary and Phytosanitary measures; 
 Technical Barriers to Trade in the WTO; 
 Trade-Related Aspects of Intellectual Property Rights; 
 Trade Remedies and the WTO; 
 Trade and Environment; 
 Trade and Services in the WTO; 
 Trade and Development; 
 WTO Market Access Databases 
(c) My Course 
63. The E-Learning Programme continued increasing its outreach in 2012, with 3'023 
government officials who successfully completed an E-Learning course. In addition, a new IT 
platform (E-Campus) was purchased in 2012 and will  be implemented in 2013. This will permit E-
Learning to enhance the quality and efficiency of the online training provided by the WTO. 
Table 11 Number of participants who successfully completed an E-Learning course 
 Number of participants 
2010 2'392 
2011 2'890 
2012 3'023 
 
64. The regional distribution of participants taking the courses continued to be comprehensive 
in 2012, covering all regions with Africa (39%), Latin America (26%) and Asia and Pacific (20%) 
having the highest rates of participation. It should be noted that the rate of participation in Africa increased to 39%, compared to 35% in 2011. In addition, LDCs continued to be well represented 
like last year, accounting for 26% of the total number of participants who completed a course.  
 
B. Internship Programme for Selected Me mbers' Missions in Geneva (TIMM1) 
65. The internship programme for the benefit of Geneva-based Missions of LDCs and small and 
vulnerable economies with very few staff was esta blished in 2001.  The purpose of this Programme 
is (i) to enhance the interns' knowledge and under standing of the multilateral trading system and 
of trade policy in general;  (ii) to strengthen the understanding of the negotiation process at the 
WTO;  and (iii) to support the Mission in participating more actively in the daily activities at the 
WTO. 
66. 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.  WT/BFA/W/304 
 
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  67. The programme is open to nationals of developing and least-developed countries as well as 
economies in transition with a Geneva Mission.  The required qualifications include:  (i) an appropriate degree in economics, trade and/or law at the post-graduate level; (ii) mastery of one 
of the WTO working languages and preferably a good knowledge of another; (iii) working 
experience in the national administration in the trade-related area; (iv) good drafting skills; and 
(v) operational familiarity with standard software packages.  Support function positions are not considered part of this programme. 
68. 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 with very few staff positioned in 
Geneva Missions are given preference. 
69. The beneficiary Mission establishes a general description of the assignment in advance.  A 
more detailed programme of work for each intern is prepared by the Permanent Representative of 
the Mission in Geneva, after the candidate has been selected. 
70. 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 of meetings of WTO bodies, including attendance and 
follow-up of such meetings; 
(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. 
71. The evaluation of the intern's work by the Mission takes place at mid-term and at the end 
of the assignment and is shared with the WTO.  Further evaluation of the usefulness of this 
programme takes place one year after the end of the internship. 
72. In 2012, this fund financed the costs related to 20 interns (of which three had started in 
2011) from the following countries:  Botswana,  Central African Republic, Côte d'Ivoire,  Haiti, Honduras, Jamaica, Kyrgyz Republic, Lesotho, Maldives, Namibia, Nicaragua, Nigeria, Pakistan, Solomon Islands, Tajikistan, Tanzania,  Sudan, Vietnam and Yemen . 
Table 12. Mission Internships Programme (TIMM1) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January  1,676,119 1,236,416  
Contributions received  1,157,782 1,153,805  
Interest earned  5,759 3,406  
Total funds 2,839,659 2,393,626  
Total expenditures  (930,518) (717,507)  
Balance as at 31 December  1,909,141 1,676,119  
 
C. Netherlands Trainee Programme (TNL05) 
73. The Netherlands Trainee 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 the period of application of the arrangem ent for four more years, i.e. until the end of 
2011. 
74. 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.  WT/BFA/W/304 
 
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  75. The Programme provides junior public officials with the opportunity to learn about matters 
dealt with in the WTO.  The target group of candidates who can qualify for the Programme are 
junior professionals from trade and development-re lated ministries, private sector organizations, 
university graduates, participants in trade policy courses and other suitable candidates with 
adequate knowledge of the WTO. 
76. 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 needs 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 MTS; 
(g) assisting WTO Divisions in specific tasks. 
77. The candidates are selected by the Secret ariat, from applications and nominations 
proposed by the beneficiary countries. 
78. Trainees work full-time like Secretariat staff members and carry out tasks and duties 
assigned to them but with no expectancy of renewal or extension of the traineeship beyond ten months.  Following the completion of their assignments, trainees are expected to provide an 
evaluation report with detailed information of the tasks accomplished and an assessment of their 
relevance for the candidate and the beneficiary country. 
79. The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 99 at the end of 2012. 
80. The trainees who were on board during 2012 were from Afghanistan, Burkina Faso, 
Burundi, Cameroon, Comoros, Dem. Rep. of Cong o, Dominican Republic, Ghana, Kenya,  Laos, 
Madagascar, Mali, Nepal, Nigeria, Senegal and Swaziland. 
81. Fifteen new trainees are scheduled to take up their duties in early 2013. 
Table 13. Netherlands Trainee Programme (TNL05) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 25,535 521,149 
Contributions received 1,793,909 94,701 
Interest earned  1,561 244 
Total funds 1,821,005 616,094 
Total expenditures (767,402) (590,559) 
Balance as at 31 December 1,053,603 25,535 
 
D. Trade Facilitation Trust funds – Window I – Participation of Capital-based 
Officials in the Negotiatin g Group Meetings (TTFNG) 
82. The mandate for WTO negotiations on trade facilitation provides that technical assistance 
should be provided during the negotiations to ensure that developing and least-developed countries fully participate in and benefit from the negotiations.  (WT/L/579 – Annex D- adopted in July 2004) Paragraph 5 of the Mandate states: 
(a) It is recognized that the provision of technical assistance and support for capacity 
building is vital for developing and least-developed countries to enable them to  WT/BFA/W/304 
 
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  fully participate in and benefit from the negotiations.  Members, in particular 
developed countries, therefore commit themselves to adequately ensure such support and assistance during the negotiations. 
83. In connection with this paragraph, paragraph 38 of the Doha Ministerial Declaration also 
addresses relevant technical assistance and capacity building concerns of Members. 
84. Negotiations on Trade Facilitation are conducted through meetings of the Negotiating 
Group on Trade Facilitation (NGTF) which consists of representatives of all WTO Member and 
Observer countries.  African and LDC countries have continuously stressed the importance of 
technical assistance to bring specialists from their capitals to advice on the technical issues during these meetings. The discussions in the NGTF focus on proposals concerning border fees and formalities, transparency issues, transit and spec ial and differential treatment.  Because of the 
technical nature of these proposals, most developed and advanced developing countries bring 
experts from their capitals, especially customs officials, to participate in the meetings and advise the negotiator on technical issues.  Participation by capital-based expert officials not only provides 
more effective responses to issues raised during the meeting but also results in more effective 
support from the capital due to increased understanding of the negotiation proposals and process.  Bringing technical specialists from African and LDC countries allows them to negotiate actively on 
the technical issues as well. 
85. This programme began in 2008.  In order to ensure that the appropriate officials 
participated, each African and LDC countries were asked to nominate two officials that met certain qualifications.  The WTO Secretariat reviewed the nominations and selected the most qualified 
person from each country.  The letter of invitation set out the following qualifications: 
(a) fluent in reading, speaking and working in  one of the three WTO official languages; 
(b) supports the national Geneva negotiator in the WTO trade facilitation negotiations; 
(c) has technical expertise in the customs-related measures that are under 
negotiation; 
(d) has participated in, or will participate in, the national WTO trade facilitation needs 
assessment; 
(e) is available for the dates of the NGTF meeting and will participate if selected. 
 
86. The WTO Secretariat invited officials to partic ipate in two meetings of the NGTF in 2012 as 
follows: 
(a) 65 capital-based African and LDC officials participated in the NGTF meeting held  
9-13 July 2012 
(b) 53 capital-based African and LDC officials participated in the NGTF meeting held  
3-7 December 2012 
87. According to African and LDC negotiators this programme is crucial to ensure that their 
countries participate fully and effectively in the negotiations.  Many delegates have remarked that 
not only has the number of countries active in the negotiations improved but the technical level of the involvement has improved and has gone well beyond the traditional interventions in the area of special and differential treatment.  This was due to increased understanding and awareness of 
the negotiations in large part because of this programme as well as the WTO Trade Facilitation 
Needs Assessment Programme.  WT/BFA/W/304 
 
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  Table 14. Trade Facilitation–Participation of Ca pital-based Officials in the Negotiating Group 
Meetings (TTFNG) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 262,961 532,190 
Transfer from Trade Facilitation Needs Assessment Fund 74,482 0 
Contributions received  513,684 351,375 
Interest earned  602 1,031 
Total funds 851,729 884,596 
Total expenditures  (517,123) (621,635) 
Balance as at 31 December 334,606 262,961 
 
88. Both donors and recipient countries have expressed an interest in continuing this 
programme in 2013.   
E. Trade Facilitation National Need s Assessments Trust fund (TTFNA) 
89. In the context of negotiations on trade facilitation, Members are encouraged to assess 
their trade facilitation needs and priorities.  To assist developing and LDC Members in this endeavour the Trade Facilitation National Need s Assessments Trust Fund provides technical 
assistance to eligible Members. The fund, origin ally in operation between 2007 and 2010, was, at 
the request of Members, reactivated in 2012.  New contributions to the fund began to arrive at the end of 2012.  Actual implementation of the need s assessment activities will began again in 2013. 
Table 15.Trade Facilitation National Needs Assessments Trust fund (TTFNA) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 400,988 514,658 
Contributions transfer to TTFNG (74,481) 0 
Contributions transfer to DDAGTF 0 (24,978) 
Contributions received 234,750 0 
Contribution reimbursement United Kingdom (56,232) 0 
Contribution reimbursement Denmark 0 (90,841) 
Interest earned  1,147 1,605 
Total funds 506,172 400,445 
Total expenditures  1,256 544 
Balance as 31 December 507,429 400,988 
 
F. Ministerial Conference – Participation of Least-Developed Countries (TMI08) 
90. Starting with the 1st WTO Ministerial Conference held in Singapore in 1996, the WTO 
Secretariat has facilitated the participation of Least-Developed Countries (LDCs) in the Ministerial Conferences, thanks to voluntary contributions p ooled into a special 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.   There was no Ministerial Conference in 2012. 
Table 16.Ministerial Conference – Participation of Least-Developed Countries (TMI08) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 386,321 916,519 
Contributions received  4,493 87,495 
Interest earned  1,235 2,051 
Total funds 392,049 1,006,065 
Total expenditures (953) (619,743) 
Balance as at 31 December 391,096 386,321 
 
91. At the end of a given Ministerial Meeting, the remaining balances in favour of the various 
donors are traditionally carried forward and added to the new contributions to be utilized for the  WT/BFA/W/304 
 
- 34 - 
 
  same purpose in the subsequent Conference unless the donor requests a reimbursement.  At the 
end of 2012 a call for contributions was made to Members in anticipation of the 9th Ministerial Meeting planned for December 2013 in Bali, Indonesia. 
G. Standards and Trade Development Facility (TWB01) 
92. The Standards and Trade Development Facility (STDF) is a global partnership, 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 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 organizations involved in SPS-related technical cooperation, donors contributing to the STDF and developing country experts 
participate actively in the Facility's work.2  The STDF is managed and housed by the WTO 
93. In line with STDF's new strate gy, various efforts were underta ken to further strengthen the 
STDF as a knowledge platform for information exchange, sharing experiences and the identification 
and dissemination of good practice, including in  Working Group meetings. The Secretariat also 
participated in a number of other events to share information and experiences and foster collaboration and coherence in the development and implementation of SPS-related technical 
cooperation.  
94. Throughout the year, a wide variety of proposals and ideas for projects were received and 
discussed with potential beneficiaries, ranging from one-page concept notes to fully-fledged project documents. Officially, 22 applications for project preparation grants (PPGs) and 24 project 
applications were received. The STDF Working Group accepted three PPGs and approved eight 
projects for funding. The total STDF contribution to these projects amounted to US$5,086,550, which is notably higher than originally planned (i.e. US$2.4 million). All projects were 
collaborative, innovative and/or regional in nature . More and re-current PPG applications could be 
expected if bilateral donors would be able to  increasingly (co-)fund resultant projects.  
95. Five projects were completed and achieved good immediate results. The STDF continued to 
meet its target to dedicate at least 40% of it s project resources to least-developed countries 
(LDCs) and other low income countries (OLICs). Monitoring project implementation, however, remained challenging and resource-intensive. 
Table 17. Standards and Trade Development Facility (TWB01) 
Financial Report Summary (CHF) 2012   2011 
Funds as at 1 January 7,343,128 3,843,391 
IPSAS adjustments 3,513,556 0 
Contributions received 4,528,188 5,538,554 
Interest earned  9,856 18,957 
Total funds 15,394,728 9,400,902 
Total expenditures  (5,594,659) (2,057,774) 
Balance as at 31 December 9,800,069 7,343,128 
 
H. China LDCs and Accessions Programme (TCLAP) 
96. In July 2011, China contributed to the esta blishment of “China’s LDCs and Accessions 
Programme”, to help strengthen LDC Members participation in the WTO activities and also to help 
acceding LDCs to improve their capacity for accession. Funds received amounted to CHF 333,200 
but activities started only in 2012. In 2012 the WTO received CHF 372,000. An LDC Accession Round Table Workshop in Beijing, three Meetings and 4 internships were financed from the Programme. 
                                               
2 Further information on the STDF and its activities , background documents, et c. is available on the 
STDF website ( http://www.standardsfacility.org/en/index.htm ).  WT/BFA/W/304 
 
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  Table 18 China LDCs and Accessions Programme (TCLAP) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 333,777 0 
Contributions received  372,000 333,200 
Interest earned  591 577 
Total funds 706,368 333,777 
Total expenditures (305,407) 0 
Balance as at 31 December 400,961 333,777 
 
I. Enhanced Integrated Framework Executive Secretariat (TIFES) 
97. The Enhanced Integrated Framework (EIF) is an initiative to provide trade-related 
technical assistance to the world's poorest countries as a means of integrating them more fully into the multilateral trading system.  Its Executive Secretariat is housed at the WTO, which was 
officially established in 2008.  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 Nation s 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.  Th e EIF is regarded as one of the most successful 
initiatives under the overall umbrella of Aid for Trade. 
98. EIF funding is channelled through two sources:  the multilateral EIF Trust fund managed 
by the United Nations Office for Project Servic es (UNOPS) and bilateral/regional donor support 
direct to the beneficiary countries.  The EIF trust fund makes an annual allocation to the WTO to cover the operating expenditures of EIF Executiv e Secretariat, administratively housed at the 
WTO. 
Table 19. Enhanced Integrated Framework Executive Secretariat (TIFES) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 1,132,858 1,533,969 
IPSAS adjustments 642,910 0 
Contributions received 3,958,303 3,343,015 
Interest earned 4,217 6,174 
Total funds 5,738,288 4,883,158 
Total expenditures  (4,029,319) (3,750,300) 
Balance as at 31 December 1,708,969 1,132,858 
 
J. Independent Entity – Pre-Shipment Inspection – Deposits (T0013) 
99. Independent Entity (IE) is a mechanism for settling disputes between exporters and pre-
shipment inspection companies/agencies, constituted by the WTO, International Chamber of 
Commerce (ICC) and International Federation of In spection Agencies (IFIA) and established under 
Article 4 of the Agreement on Pre-shipment Inspection. 
100. Deposit payments from the following pre-shipment inspection companies have been 
received to cover the estimated costs of an in dependent review in the event of a dispute as 
required by the terms of reference of the Agre ement:  Bureau Veritas International, Cotecna 
Inspection Limited, Inspectorate Griffith Limited,  Inchcape Testing Services International Limited. 
  WT/BFA/W/304 
 
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  Table 20. Independent Entity – Pre-Shipment Inspection – Deposits (T0013) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January  88,263 88,156 
Interest earned 0 0 
Total funds 88,263 88,156 
Total expenditures (26) 107 
Balance as at 31 December 88,237 88,263  
 
K. Programme Support Fund (EPSF1) 
101. Up until 1999, the 13 per cent 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 then, they are being channelled thro ugh a special fund created to collect them, the 
Programme Support Fund (PSF).  According to its te rms 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 of the WTO as a whole.  In this connection, it should be noted that this is due to the fact that, curre ntly, the WTO does not have the means to evaluate 
and underwrite the administrative support staff costs as direct charges to each extra-budgetary 
fund. 
102. The WTO may share the 13 per cent overhead fees charged to various trust funds that it 
manages with implementing partners. 
103. Ten per cent of the expenses in the PSF 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 assistan ce activities financed from the extra-budgetary 
funds. 
104. In 2012, 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. 
105. The fixed-term and short-term contracts financed from PSF included the following 
positions: 
(a) Four fixed-term support staff members in the ITTC of which two in Logistics Unit; 
(b) Three fixed-term support staff members in the Budget and Finance Section; 
(c) Three fixed-term professional staff members in the Economic Research and 
Statistics Division; 
(d) Two fixed-term support staff memb ers in the Informatics Division; 
(e) One short-term support staff members in the Human Resources Division; 
Table 21. Programme Support Fund (EPSF1) 
Financial Report Summary (CHF) 2012 2011 
Funds as at 1 January 1,077,081 1,219,070 
IPSAS adjustments (328,918) 0 
Overhead fees collected 2,544,062 2,222,299 
Total funds 3,292,225 3,441,369 
Total expenditures (2,419,792) (2,364,287) 
Balance as at 31 December  872,433 1,077,081 
  WT/BFA/W/304 
 
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  IV. FINANCIAL STATEMENTS 
A. Management letter of representation 
106. The Management of the WTO Secretariat 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 Public 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. 
107. 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 the 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. 
108. Based on the above, the Management has concluded that these financial statements 
present fairly the Organization's financial position and performance as of 31 December 2012.  
These statements have been audited by external  auditors appointed by the General Council, and 
their report appears on the following page. 
 
 
  
 
 Pascal Lamy Tristan Bauswein  Director-General Director 
  Administration and General Services Division  WT/BFA/W/304 
 
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  B. Opinion of the external auditor 
- THE FRENCH REPUBLIC - 
 
Cour des comptes First President 
 
 
  Paris, 20 June 2013 
 
 To Mr Pascal LAMY, 
Director-General of the World Trade Organization 
  
OPINION OF THE EXTERNAL AUDITOR 
 
 
 We have examined the financial statements of the World Trade Organization (WTO) 
for the year ended 31 December 2012, which comp rise statements on the financial situation 
and financial performance, the statement of changes in net assets, the cash flow statement 
and the statement on the use of budgetary allocations, as well as the summary of principal 
accounting practices and other explanatory notes. These financial statements were prepared under the responsibility of the WTO management. It falls to us, on the basis of our audit, to express an 
opinion on the financial statements. 
  We conducted our audit in accordance with international auditing standards 
(International Standards on Auditing - ISA). Thes e standards require that our work be organized 
and implemented in such a way as to obtain a reasonable assurance that the financial statements contain no significant inaccuracy. An audit consists, inter alia , in randomly reviewing 
the documents submitted in support of the amounts and other data shown in the financial 
statements.  It also involves evaluating the accounting principles applied and the significant 
estimates made by the WTO management, and assessing the overall presentation of the financial 
statements.  We consider that the audit that we have conducted constitutes a reasonable 
foundation on which to base our qualified opinion.  
 Basis for qualified opinion 
 
 On the assets side, the statement on the financial situation does not show the financial 
assets accumulated by the Organization to cover its commitments for staff pensions and after-service health insurance, while, on th e liabilities side, it does not show the gross 
amount of these commitments, instead showin g the contracted amount of this data, 
contrary to IPSAS 1 and 25; 
 The financial statements do not consolidate the accounting data relating to the 
International Trade Centre, the technical cooperation agency operated jointly by the WTO 
and the UN, contrary to standard IPSAS 8 on joint ventures.  WT/BFA/W/304 
 
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   Qualified opinion 
 
 Our opinion, with the exception of the implications of the points described in the section 
"Basis for qualified opinion", is that the financial statements present fairly the financial position 
of the WTO as at 31 December 2012 and the result of the operations and cash flows for the 
financial year ended on that date, in accordance with the relevant International Public Sector Accounting Standards (IPSAS).  
 
  
[signature] 
Didier MIGAUD  WT/BFA/W/304 
 
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  C. Financial statements 
Table 22 Statement of Financial Position 
 
WORLD TRADE ORGANIZATION 
Expressed in '000 CHF     
 Note 31/12/2012 01/01/2012 
 
 ASSETS   Opening 
balance 
(Restated) 
Current assets    
Cash and cash equivalents 4          88,269 
 65,787 
Receivables from Members 5 12,551 11,828 
Receivables from Observers 5 209  161 
Receivables from Donors 5                   -   1,719 
Inventories 6 438   480 
Other receivables 7 4,642 2,597 
Advances and prepayments 8 4,422 6,876 
Total Current Assets  110,531  89,447 
    
Non-current assets    
Building 9          49,697  50,303 
Work in progress - building 9 68,087 39,645 
Work in progress - equipment 9 12,264 3,835 
Equipment 9 3,208 3,602 
Intangible assets 10 483 105 
Total  non-current assets  133,739  97,490 
    
Total assets  244,270  186,937 
    
LIABILITIES    
Current liabilities    
Payables 11 9,559 5,239 
Accruals 11 2,378  1,947 
Assessed contributions received in advance 12  12,974   7,655 
Voluntary contributions due to donors 13 31,315 26,833 
Short-term employee benefits 14 12,256 12,849 
Grant 15          12,593  4,748 
Total current liabilities          81,074  
 59,271 
    
Non-current liabilities    
Loan  15         60,000 37,351 
Pension benefits 14 548,343   495,251 
After service health insurance benefits 14 270,471   243,055 
Other long-term employee benefits 14 8,900   8,441 
Provision for right of use - CWR 9 49,697 50,303 
Total non-current liabilities  937,411  834,401 
    
Total liabilities  1,018,485  893,672 
    
Net assets/equity  (774,215)  (706,733) 
    
NET ASSETS/EQUITY    
Working Capital Fund 16 10,502 10,125 
Reserves  17 12,153 18,701 
Actuarial loss 14 (41,415) 0 
Accumulated surplus  (755,456) (735,559) 
Total net assets/equity  (774,215)  (706,733)  WT/BFA/W/304 
 
- 41 - 
 
  Table 23 Statement of Financial Performance 
 
WORLD TRADE ORGANIZATION   
Expressed in '000 CHF   
 Notes 31/12/2012 
REVENUE   
Contributions assessed on Members 18 195,766 
Contributions of Observers 18 844 Voluntary contributions on trust funds 18 21,938 Revenue from publications 18 354 Other revenue 18 1,015    
Total revenue  219,918 
   
EXPENSES   
Staff Expenditure 19 (168,304) Temporary Assistance 19 (23,335) Supplies and other general services costs 19 (9,997) Travel & hospitality 19 (11,771) 
Implementing partners 19 (7,133) 
Contribution to ITC 19 (18,911) Ministerial Conference Operating Fund 19 (600) Depreciation and write offs 19 (1,713) Provision for contributions in arrears 5 1,321 Depreciation of provision for right of use - CWR 19 606 
Finance costs 19 (35) 
Loss/(gain) on foreign exchange transactions  19 58    
Total expenses  (239,815)    
Surplus/(deficit) for the period  (19,897) 
  
  
  WT/BFA/W/304  
 
- 42 - Table 24 Statement of Changes in Net Assets/Equity 
  
WORLD TRADE ORGANIZATION 
AS AT DECEMBER 31 2012 Expressed in '000 CHF  
 Notes Working Capital 
fund (WCF) Reserves / 
Operating funds Actuarial 
gain/(loss) Accumulated 
Surplus/ 
Deficit  Total Net 
Assets/Equity 
Balance at 31/12/2011  10,125 16,852 0 740 27,717 
IPSAS adjustments to opening balance       
Adjustment for the re cognition of PPE 3    7,542 7,542 
Adjustment for the recognition upon delivery 3  1,850  2,905 4,755 
Adjustment for recognitio n of employee benefits 3    (746,747) (746,747) 
Net impact of conversion to IPSAS/ Restated 
Opening Balance  10,125  18,701  0 (735,559)  (706,733) 
Increase in Working Capital Fund 16 377    377 
Actuarial loss    (41,415)  (41,415) 
Replenishment of reserves 17  2,372   2,372 Utilisation of reserves 17 
 (8,920)   (8,920) 
Surplus/Deficit for the period 
      (19,897) (19,897) 
Balance at 31/12/2012 10,502  12,153  (41,415)  (755,456)  (774,215) WT/BFA/W/304 
 
- 43 - 
 
  Table 25 Cash Flow Statement (Indirect method) 
WORLD TRADE ORGANIZATION 
AS AT DECEMBER 31 2012 (CHF)   
Expressed in '000 CHF  
 
2012 
 
Cash flows from operating activities  
Deficit from ordinary activities (19,897) 
Depreciation and amortisation 1,713 
Depreciation of provision for right of use - CWR (606) Provision for contribution in arrears (1,321) (Increase) / decrease in receivables from Members and Observers 2,269 (Increase) / Decrease in inventories 32 (Increase) / Decrease in other receivables (2,045) (Increase) / Decrease in advances and prepayments 2,453 Increase / (Decrease) in payables 4,320 Increase / (Decrease) in accruals 431 
Increase / (Decrease) in contributions received in advance 5,319 Increase / (Decrease) in voluntary contributions refundable to donors 4,482 Increase / (Decrease) in grant 7,845 
Increase / (Decrease) in employee benefits 80,374 
Increase / (Decrease) in reserves (6,548) 
Actuarial Gain / (Loss) (41,415) 
Net cash flows from operating activities 37,406 
  
Cash flows from investing activities  
Purchase of property, plant and equipment (37,485) 
Purchase of intantgible assets (465) 
Net Cash flows from investing activities  (37,950) 
  
Cash flows from financing activities  
Increase of loans 22,649 
Increase in Working Capital Contributions 377 
Net cash flows from financing activities 23,026 
   
Net Increase /(Decrease) in cash and cash equivalents 22,482 
  
Cash and cash equivalents at beginning of period 65,787 
   
Cash and cash equivalents at end of period 88,269 
  WT/BFA/W/304 
 
- 44 - 
 
  D.  Notes to the financial statements 
1. Note 1 Accounting policies 
(a) Basis of preparation 
109. The financial statements of the Secretariat of the World Trade Organization (WTO) have 
been prepared on the accrual basis of accounting in accordance with the International Public 
Sector Accounting Standards (IPSAS). Where IPSAS is silent concerning any specific standard, the 
appropriate International Financial Reporting Standards (IFRS) are applied.  
110. These financial statements are the first ones to  be prepared in accordance with IPSAS. The 
adoption of IPSAS has required changes to be made  to the accounting polici es previously followed 
by the WTO. The adoption of new accounting policies has resulted in changes to the assets and liabilities as well as the expenses and revenue. The last audited Statement of Financial Position, 
dated 31 December 2011, has been restated and the resulting changes are reported in the 
Statement of changes in Net Assets/Equity and note 3. The Statement of Financial Performance and the Cash Flow Statement have not been restated in accordance with the transitional provisions 
contained in IPSAS 1, Presentation of Financial Statements, paragraph 151. Accordingly, 
comparative information is not provided for these two statements.  
(b) Consolidation 
111. 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 Tariffs and Trade (GATT) in 1964, ITC has operated since 1968 under the joint aegis of GA TT/WTO and the UN, the latter acting through the 
United Nations Conference for Trade and Deve lopment (UNCTAD). ITC is the focal point for 
technical assistance and cooperation activities in the trade promotion field, within the UN system of assistance to developing countries, as affirmed by the Economic and Social Council in its 
resolution 1819 (LV) of 9 August 1973.  
112. ITC is a jointly controlled entity as defined by  IPSAS. In compliance with the administrative 
arrangements agreed to by the WTO General Co uncil and the UN General Assembly, ITC follows 
the UN financial rules and regulations The UN has planned to adopt IPSAS by 2014. ITC is 
therefore planning to produce IPSAS compliant financial statements by 2014. Their financial statements are therefore not consolidated at this  stage. The WTO plans using the equity method 
when consolidating in future years.   
(c) Foreign currency 
113. 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 into CHF using the official  United Nations exchange rate at the date of 
the transaction. For assessed contributions receiv ed in a currency other than CHF, they are 
converted and credited at the bank rate of exchan ge applicable at the value date. Monetary assets 
and liabilities in currencies other than CHF are tran slated into CHF at the year-end United Nations 
exchange rate.  
114. 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.  
(d) Segment reporting 
115. 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.  WT/BFA/W/304 
 
- 45 - 
 
  (e) Use of estimates 
116. The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. The areas where estimates are used include 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 Computing 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.  
(f) Cash and cash equivalents 
117. 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.  
118. The Cash flow statement is prepared using the indirect method. 
(g) Receivables 
119. Receivables are recognised at nominal value less any allowances for estimated 
irrecoverable amounts. Discounting on receivables is not applied unless the effect is significant. 
120. The methodology of provision for assessed outstanding contributions from Members and 
Observers is based on the number of years of outs tanding contributions aligned to the principles 
established by the General Council on Administrative Measures.  
Table 26 Level of Provisions on Outstanding 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% 
 
(h) Advances and prepayments 
121. Discounting on advances and prepayments is not applied unless the effect is significant. 
(i) Inventories 
122. 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 the purchase 
price as well as the transport costs. The cost of publications produced in house includes the costs 
of supplies (paper), the cost of the rental of eq uipment (including maintenance and ink) as well as 
the labour cost. For in house publications sent to our distributor storage place, the cost includes also the transportation costs. The cost of inventor ies is assigned in line with the weighted average 
cost formula.  
123. 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.   
  WT/BFA/W/304 
 
- 46 - 
 
  (j) Property, plant and equipment 
124. Property, plant and equipment is recognised at historical cost less any accumulated 
depreciation and impairment loss. The following thresholds are defined for the recognition of Property, plant and equipment: 
 Any asset with a value above CHF 5,000 is full y capitalized when acquired individually.  
 Any asset with a value above CHF 2,500 is fully capitalized when acquired as part of a lot 
with a total value above CHF 50,000.  
 Any asset, irrespective of its value, is fully capitalized when acquired as part of a lot with 
a total value above CHF 500,000. 
125. For the IPSAS opening balance: 
(a) Property is recognised at cost.  
(b) 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 transitional 
provision (IPSAS 17, para 95).  
(c) The Organization has also not been able to recognised the directly attributable 
costs of an equipment (such as consulting costs) when they were separately 
invoiced. The introduction of the output reporting gives the total cost of item 
purchased for significant projects.   
126. 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 not 
recognised in the financial statements but only disclosed in the notes.  
127. Depreciation is provided for property, plant and equipment over their estimated using 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 depreciated upon final reception.   
128. The useful of major classes of assets have been estimated as follows: 
Class Estimated useful live (years) 
CWR Building 99 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  
 
129. Damaged assets will be impaired at year-end based on information received. 
130. Heritage assets such as donated work of arts are not recognised in the financial 
statements.  
(k)  Intangible Assets 
131. Intangible assets are stated at historical cost less accumulated depreciation and 
impairment losses. Depreciation is provided over the estimated useful life (4 years) using the straight line method. Licence rights lasting one year are expensed during the year.   WT/BFA/W/304 
 
- 47 - 
 
  132. Intangible assets recognised in the opening balance are only acquired software. The total 
cost of developing software either internally or externally (mainly labour cost) has started to be captured in 2012 with the implementation of output reporting.  
133. Maintenance and upgrade costs imposed by the software company or other external 
factors are recognised as expenditure. The cost of software bought with hardware is included in 
the hardware cost. 
134. Copyrights, preproduction costs for publications, WTO website costs and internal and 
external development costs for databases are not recognised as intangible assets. 
(l) Employee benefits 
135. WTO employee benefits are classified as follows: 
(a) Short-term employee benefits are due to be settled within 12 months of the 
reporting date and are measured at their nominal values based on accrued 
entitlements at current rates of pay. They include first-time employment benefits (installation grants), regular monthly benefits (wages, salaries, and allowances), 
compensated absences (paid sick leave or maternity leave), untaken annual 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 
(ASHI).  
The actuarial liability is the present value of the defined benefit obligations 
(relating to pension and ASHI) at the reporting date minus the fair value of the 
assets held by the WTO Pension Plan. 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. 
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. 
Post-employment benefits include also removal indemnities for international staff 
and separation 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.   
(m) Loans and Grants relating to the building project 
136. The WTO holds an interest free loan relating to the financing 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. The annual financial statements will disclose the value of interest waived during the year and the current value of the remaining interest to be waived until final payment on the loans. 
137. Grants relating to the building projects are considered as non-exchange revenue with 
conditions. At reception of cash, a corresponding liability is recognised in the Statement of Financial Position. The recognition of the revenue is accounted for at the time of the reception of 
the building work.   WT/BFA/W/304 
 
- 48 - 
 
  (n) Provisions and contingent liabilities 
138. Provisions are made for future liabilities and charges where the WTO has a present legal or 
constructive obligation as a result of past events and it is probable that the WTO will be required to settle the obligation. 
139. Other commitments, which do not meet the recognition criteria for liabilities, are disclosed 
in the notes to the financial statements as contingent liabilities when their existence 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. 
(o) Tax 
140. The WTO assets, income and other property are exempt from all direct taxation. 
(p) Revenue recognition 
141. Revenue from assessed contributions as well as voluntary contributions are recognised as 
non-exchange transactions as per IPSAS 23.  
(a) Assessed contributions are recognised as revenue at the beginning of the year to 
which they relate.  
(b) Voluntary contributions received 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.   
142. Revenue from exchange transactions (mainly sale of publications, interests earned and 
rental of meeting rooms) is recognised as goods or services are delivered.  
143. In kind contributions of services are not recognised in the financial statements. 
(q) Expenses 
144. Under accrual accounting, expenses are recognised at the time of delivery of goods or 
services by the supplier or service provider. The al location of the expenses to the period to which 
they relate is calculated for one year service above 10,000 CHF or multi-year services above 5,000 
CHF per year. 
145. The WTO signs agreements with partners to implement trade related technical assistance 
activities. Recognition is based on the delivery princi ple. Most of the projects relate to activities 
which last a maximum of two months. For multi-year projects, the recognition principle is based on 
the disbursement as disbursement is made upon validation of progress reports and corresponds to the costs incurred by the beneficiary.  WT/BFA/W/304 
 
- 49 - 
 
   
2. Note 2 Financial risks policy 
146. The Organization is exposed to limited financial risks, in accordance with its Financial 
Regulations and Rules (WT/L/156/Rev.2). 
(a) Counterparty risk 
 The conservation of capital is the primary objective when investing funds.  In 
order to limit the counterparty risk, 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 ra te risk is reduced by maintaining all 
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.  Funds held in foreign currencies shall not exceed the sum 
of the actual commitments and the anticipated commitments for the next 12 
months.  Speculation on exchange rates is strictly forbidden. 
 
(c) Interest and market risks: 
 Interest and market risks are also very limited as speculation on interest 
rates is strictly forbidden and cash balances retained by the Secretariat can only be invested through the following means:  i) Interest bearing account; 
ii) Bank term deposit of up to a maximum duration 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 investment 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. 
 
 
3. Note 3 First implementation of IPSAS 
147. The 2012 financial statements are the first set of statements prepared on a full accrual 
basis and which comply with the requirements of IPSAS. This note presents the main adjustments 
made to the audited 2011 financial position statement (Assets, liabilities and net assets/equity) in order to produce a restated opening balance as at 1st January 2012. 
 
  WT/BFA/W/304 
 
- 50 - 
 
  Table 27 Statement of Financial Position (Restated) 
Expressed in '000 CHF 
 31/12/2011  
(Audited) IPSAS adjustments 01/01/2012 
Opening balance  
(Restated) 
ASSETS    
Current assets    
Cash and cash equivalents 65,787  65,787 
Receivables from Members 25,887 (14,059) 11,828 
Receivables from Observers 1,068 (907) 161 
Receivables from Donors 1,719  1,719 
Inventories 480  480 
Other receivables 6,533 (3,936) 2,597 
Advances and prepayments 2,291 4,585 6,876 
 103,764 (14,317) 89,447 
Non-current assets    
Building  50,303 50,303 
Work in progress - building 39,645  39,645 
Work in progress - equipment  3,835 3,835 
Equipment  3,602 3,602 
Intangible assets  105 105 
 39,645 57,845 97,490 
Total assets 143,409 43,528 186,937 
    
LIABILITIES    
Current liabilities    
Payables 5,239  5,239 
Accruals  1,947 1,947 
Provision for obligations outstanding at year end 9,880 (9,880) 0 
Assessed contributions received in advance 7,655  7,655 
Voluntary Contributions refundable to donors 23,006 3,828 26,833 
Short-term employee benefits 12,849  12,849 
Grant 0 4,748 4,748 
Provision for contributions in arrears 14,965 (14,965) 0 
 73,594 (14,323) 59,271 
Non-current liabilities    
Long-term loan  37,351  37,351 
Grant 4,748 (4,748) 0 
Pension benefits  495,251 495,251 
After Service Health Insurance benefits  243,055 243,055 
Other post-emplo yment benefits  8,441 8,441 
Provision for right of use - CWR  50,303 50,303 
 42,099 792,302 834,401 
Total liabilities 115,692 777,979 893,672 
    
Net assets 27,717 (734,451) (706,733) 
    
NET ASSETS/EQUITY    
Working Capital Fund 10,125 0 10,125 
Reserves  16,852 1,849 18,701 
Accumulated surplus 740 (736,299) (735,559) 
Total net assets/equity 27,717 (734,450) (706,733) WT/BFA/W/304 
 
- 51 - 
 
  148. The IPSAS adjustments made to issue the rest ated opening balance have led to a CHF 
734.5 million reduction in total net assets/equity. The main changes can be analysed as follows:  
(a) First time recognition of property, plant and equipment: these items were 
previously not recognised or recognised as expenses in the statement of financial 
performance  
(i) The Centre William Rappard (CWR) has been recognised at its initial cost of 
CHF 60 million, in compliance with the infrastructure agreement signed 
between the Organization and the Swiss Authorities, less accumulated 
depreciation. However the agreement imposes restrictions on the resale value of the CWR building. Therefore, a corresponding provision for the right of use of the building has been established and depreciated over the 
same period.  
(ii) The equipment above threshold held by WTO has been recognised at cost 
less accumulated depreciation. The net value of equipment recognised 
amount to CHF 3.6 million. Audio visual equipment (CHF 2.4 million) as 
well as furniture (CHF 1,4 million) relating to the building project have not been depreciated as depreciation will st art at the final reception of all the 
items. 
(b) First time recognition of employee benefits: pension, ASHI, separation grants and 
removal indemnities were previously only disclosed in the notes. These liabilities are not funded and deteriorate significantly the net assets/equity of the 
Organization with a total negative impact of CHF 745 million. 
(c) First time recognition of expenses/revenue upon delivery of goods/services: 
expenses were previously recognised upon commitment.  
(i) Provisions for outstanding commitments amounting to CHF 9.8 million 
were cancelled and replaced by accruals amounting to CHF 1.9 million. Advances and prepayments have increased by CHF 0.6 million. 
(ii) Voluntary contributions refundable to donors have increased by CHF  
3.8 million. This amount corresponds to funds committed for which service or goods have not been delivered at year-end. The opening balance per fund and per donor has also been restated in schedule E.  
(iii) The Members' Transition Operating Fund (MTOF) has increased by CHF 1.8 
million, corresponding to the amount of funds committed in 2011 for which delivery is expected in 2012. The opening balance of the MTOF under 
IPSAS includes therefore both funds committed and funds available. 
(d) Presentation adjustments : 
(i) Assessed contributions are presented net of the provisions for contributions 
in arrears.  
(ii) Items previously recognised under the class "Other receivables" were 
reclassified as "Advances and prepay ments" for an amount of CHF 3.9 
million. 
(iii) Grant relates to the financing of the parking which has been completed at 
the start of 2013. At the completion of the parking (within twelve months), this liability will be settled by the recognition of a revenue.  WT/BFA/W/304 
 
- 52 - 
 
  4. Note 4 Cash and cash equivalents 
Table 28 Cash Situation 
Expressed in '000 CHF 31/12/2012 01/01/2012 
(Restated) 
Cash in hand 10  10 
Cash at bank by currency 88,259  65,777 
CHF 86,787  60,811 
USD 894  3,989 
EUR 438  891 
GBP 140  87 
Total cash and cash equivalent 88,269  65,787  
 
 149. The bank balance in CHF comprises restricted funds held by the Working Capital Fund for 
an amount of 10,187 kCHF.  
150. Bank accounts are held with UBS, Crédit Suisse and the Swiss Post Finance Bank. The 
WTO negotiates interest rates on bank account deposits with the banks in order to obtain competitive rate.  
5. Note 5 Receivables from Memb ers, Observers and Donors 
151. 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 B and C, respectively.   
152. A provision for outstanding contributions is calculated based on the aging of the 
contributions.  
Table 29 Provision for Arrears from Members and Observers 
Expressed in '000 CHF Provision for 
outstanding 
contributions at 
1St January 
2012 Adjustment of 
the provision 
during 2012 Provision for 
outstanding 
contributions at 
31St December 
2012 Amounts 
written off as 
part of the 
payment plan 
Members 14,059 (1,188) 12,871  0 
Observers 907 (134) 773  0 
Total  14,965  (1,321)  13,644  0  
 
153. The General Council has approved payment plans with 12 Members with total arrears 
amounting to CHF 7.4 million as at 31 December 20 12.  As part of approved payment plans with 
Members and in accordance with Financial Regulation 18.2, pre-1988 contributions have been reduced by CHF 971,279 and this reduction has been accounted for in the statement of the 
financial performance. WT/BFA/W/304 
 
- 53 - 
 
  6. Note 6 Inventories 
Table 30 Inventories 
Expressed in '000 CHF 31/12/2012 01/01/2012 
(Restated) 
WTO publications and co-publications 361  372 
Non WTO publications 56  75 
Souvenirs 20  33 
Total inventories (including adjustments and write offs) 438  480 
 
154. Inventories consist of WTO publications, co-publications, other non-WTO publications and 
souvenirs held for sale.  Starting 2011, a part of the WTO publications and co-publications inventory is held at a third-party distribution storage facility. 
Table 31 Adjustments and write offs 
Expressed in '000 CHF 31/12/2012 01/01/2012 
(Restated) 
Adjustments 10  9 
Write offs (20)  (48) 
Total Adjustments and write offs (10) (39)  
 
155. 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 less than 2 per cent of the total inventory and well within industry standards ranging around 5 per 
cent of discrepancy. 
156. 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 distributions.   
7. Note 7  Other receivables 
Table 32 Other Receivables 
Expressed in '000 CHF 31/12/2012 01/01/2012 
(Restated) 
Recoverable United States taxes 4,016 2,272 
Recoverable Swiss taxes 89 101 
Various other receivables 536 224 
Total other receivables 4,642 2,597  
 
157. Other receivables include receivables from non-exchange transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables".  
158. Staff remunerated by the Organization is ex e m p t e d  f r o m  i n c o m e  t a x e s .   H o w e v e r ,  t h e  
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 provides 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/304 
 
- 54 - 
 
  159. As an International Organization, the WTO is exempted from Swiss taxes such as value 
added tax (VAT), federal stamp duty and tax on th e interest earned on investments.  Annually the 
WTO Secretariat files a tax reimbursement claim to the Swiss authorities. 
160. The method of reimbursement applied by the Un ited 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 amount written of for the WTO amounting to CHF 93,121 for 2012.  
8. Note 8  Advances and Prepayments 
Table 33 Prepayments 
Expressed in '000 CHF 31/12/2012 01/01/2012 
(Restated) 
Staff advances for salary, travel and education grant 2,386  2,364 
Advances relating to Trust Funds activities 845  1,572 
Advances to ITC 0  1,462 
Other advances 1,192  1,478 
Total 4,422  6,876  
 
161. Staff advances made for education grants represent 2,365 kCHF of the total of 
staff advances.  
162. Advances relating to Trust Funds activities include advances paid to hotels where the 
activities will be held as well as  advances to implementing partners. 
163. Other prepayments correspond to payments made to suppliers. 
9. Note 9 Property, Plant and Equipment 
Table 34 Building 
Expressed in '000 CHF Building 
Cost at 01/01/2012 60,000 
Additions 0 
Cost at 31/12/2012 60,000  
Accumulated depreciation at 01/01/2012 9,697 
Depreciation 606 
Accumulated depreciation at 31/12/2012 10,303  
Net carrying amount at 31/12/2012 49,697  
 
Table 35 Work in progress - Equipment 
Expressed in '000 CHF Furniture  Audio visual 
equipment  Total 
Cost at 01/01/2012 1,414 2,421 3,835 
Additions 4,581 3,849  8,430 
Cost at 31/12/2012 5,995  6,269 12,264  WT/BFA/W/304 
 
- 55 - 
 
  Table 36 Equipment 
Expressed in '000 
CHF Furniture Audio visual 
equipment Security 
equipment Reproduction 
equipment IT 
equipment Vehicle Total 
Cost at 01/01/2012 290 309 2,122 2,092 1,862 183 6,858 
Additions 54 0  177  83 252 48 614 
Disposals      (785)     (785) 
Cost at 
31/12/2012 344  309  2,299  1,390  2,114 231 6,688  
Accumulated 
depreciation 01/01/2012 76 87 403 1,550 1,016 124 3,256 
Depreciation 30 31 227 207 363 38 896 
Disposals       (672)     (672) 
Accumulated 
depreciation at 
31/12/2012 106 118 630 1,085  1,379 162 3,480  
Net carrying 
amount at 31/12/2012 238 191 1,669
 305 736 69  3,208  
 
164. The land where the CWR, the new administrative building and the accreditation facility 
building are located is the property of the Canton  of Geneva which has granted the Organization 
surface rights at the 2nd degree. The first degr ee surface right has been given to FIPOI. The 
surface rights were acquired by the Organization at no cost and no value has been recognized in 
the financial statements. The WTO has also a numb er of work of art donated by governments, 
artists and other partners. The Government of China has also offered the WTO a garden that has 
been completed in 2012. The value of these works (also called heritage assets) is not recognised in the financial statements.  
165. 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 Authorities) and the construction work of the new building has not b een completed. In 2012, the WTO has recorded an 
increase in the value of its building under renovation or construction of CHF 28.4 million and of its 
equipment under installation of CHF 8.4 million. The WTO will finalize the capitalization of the 
assets received through the building project in 2013 and start the related depreciation. 
166. The WTO has benefitted 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 a property and maintained by the 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 maintenance costs. 
(c) Leasehold of office space (Chemin Des Mines) free of charge from January 2009 to 
December 2012. The estimated amount of the leasehold for this period is CHF 15 
million and it has been financed directly by the Swiss Authorities.  
(d) Free right to use an underground parking located in the neighbourhood with 400 
parking spaces. 
167. As part of the building project, artwork and decoration were acquired and recognised at 
their purchase prices and will be subject to depreciation.  WT/BFA/W/304 
 
- 56 - 
 
  10. Note 10  Intangible Assets 
Table 37 Intangible Assets 
Expressed in '000 CHF Software 
acquired Software 
internally 
developed 
Cost at 01/01/2012 169 NA 
Additions  0  465 
Disposals 0 0 
Cost at 31/12/2012  169 465  
Accumulated depreciation 01/01/2012 63 0 
Depreciation  42 46 
Disposals  0 0 
Impairment losses  0 0 
Accumulated depreciation at 31/12/2012  105  46  
Net carrying amount at 31/12/2012  64  419 
 
168. The WTO started to recognise software internally developed in 2012 with the 
implementation of a new approach to record expenditure against outputs. 
11. Note 11 Accounts payable 
Table 38 Payables 
Expressed in '000 CHF 31/12/2012 01/01/2012 
restated 
Accruals 2,378 1,947 
Suppliers 2,202 4,618 
WTO staff, consultants and interns 542 584 
Other payables  6,815 38 
Total payables 11,937 7,187  
 
169. Accruals represent the amount of goods received and services delivered during the period 
for which the invoices were not received at the reporting date.  
170. Payables to suppliers and staff at year-end reflect amounts expensed in 2012 for which 
settlement has been effected in 2013. The increase in other payables is connected to the building 
project. 
171. An amount of CHF 359,100 has been set aside to cover for the payment in 2013 of 
performance rewards due on the staff performance in 2012 
12. Note 12 Assessed contributions paid in advance 
172. Contributions paid in advance by Members and Observers at 31 December 2012 consist of 
advance payments received and interest earned and due to Members.  WT/BFA/W/304 
 
- 57 - 
 
  Table 39 Contributions paid in Advance by Members and Observers 
Expressed in '000 CHF 31/12/2012 01/01/2012 
restated Reference 
Contributions paid in advance by Members and 
Observers 12,705  7,358 Schedule B 
Interest earned through the Early Payment 
Encouragement Scheme 269  297 Schedule A 
Total contributions paid in advance by 
Members and Observers  12,974  
 7,655   
 
173. The General Council implemented a system to encourage early payment of contributions.  
The annual interest earned on the current year's contributions is refunded to Members on the basis of calculations which take into account the amou nt and date of payment.  The interest refund 
earned by a Member in a given year is deducted from the Member's contribution due two years 
later.  The amount of CHF 269,064 is the inte rest earned by Members in 2012 (CHF 124,712) and 
2011 (CHF 144,352). 
13. Note 13 Voluntary contributions refundable to donors 
Table 40 Voluntary contributions refundable to donors 
Expressed in '000 CHF  
Balance due to donors as at 31 December 2011            26,833  
Contributions paid in advance for 2012 activities   (23)  
Voluntary contributions received in 2012            24,670  
Reimbursement in 2012   (59)  
Contributions paid in advance for 2013 activities              1,832  
Interests on investments                    52  
Expenses incurred on Trust funds (note 20) (21,991)  
Balance due to donors as at 31 December 2012            31,315  
 
174. In accordance with IPSAS 23, contributions from donors subject to conditions have been 
classified under deferred revenue . Revenue is recognised up to the amount expensed in the 
period, corresponding to the completion of the specified performance.  
175. With the IPSAS implementation, expenses are not recognised any more on commitments 
but on accruals. The opening balance has been restated with an increased amount of the voluntary contributions refundable to donors. It means that voluntary contributions refundable to donors 
include commitments made to third parties regarding trust fund activities. Commitments to third 
parties amount to CHF 5.3 million at the end of 2012. 
  WT/BFA/W/304 
 
- 58 - 
 
  14. Note 14 Employee benefits 
Table 41 Employee Benefits 
Expressed in '000 CHF 
  
  31/12/2012 01/01/2012  
Short-term benefits Dependency allowance  50 50 
 Untaken annual leave  9,663 9,932 
 Education grant  1,182 1,179 
 Home leave  892 1,145 
 Separation grant 468 542 
Long-term benefits Removal indemnity  1,534 1,552 
 Separation grant  7,366 6,889 
Post-employment benefits ASHI  270,471 243,055 
 Pension  548,343 495,251 
Total    839,970 759,595  
 
176. Employee benefits liabilities are determined by professional actuaries or calculated by the 
WTO based on personnel data and past payment experience.  
177. 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 
given to staff dependants (spouse and children). 
(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. The maximum 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 months of the school year through December that will 
be settled at the end of the school year in the following summer. 
(d) The provision for home leave is established to cover the liability incurred by all 
eligible staff in a given year for their home leave.  Staff entitled to home leave may return to their home country every other year. 
178. At the end of their employment contract, eligible staff receive separation grant and 
international staff going back to their home country is entitled to removal 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 of CHF 16,654 (over the past 
eleven years). 
(b) 56.9% of international staff has been returning to their home country (over the 
past twelve years). 
(c) A retirement age of 62 years old. 
(d) Other assumptions such as the discount rate, median salary growth rate and 
inflation rates are the same as the ones used for the actuarial valuation for pension 
and ASHI.  WT/BFA/W/304 
 
- 59 - 
 
  179.    Pension and ASHI benefits are calculated by consulting actuaries. The WTO pension plan 
is a defined benefit plan. The following assumptions have been used to determine the value of the pension and ASHI benefit obligations as at 31 December 2012: 
Table 42 Actuarial Assumptions 
 Expressed in '000 CHF Pension ASHI 
Discount rate  2.10% 2.10%  
Medical inflation rate  - 3.10%  
Inflation  0.60% 0.60%  
Rate of compensation increase 1.60% -  
Rate of pension increase  0.60% -  
Expected long-term rate on return of plan assets  4.50% -  
 
Table 43 Financial assets – Pension 
Expressed in '000 CHF 31/12/2012 31/12/2011 
Fair value of plan assets at beginning of ye ar        349,761         339,988 
Expected return on plan assets          18,536           18,159 
Actuarial (loss)/gain on plan assets net of actual investme nt expenses          16,079        (20,404) 
Employer contributions           20,001           20,200 
Plan participants' contributions           10,000             9,999 
Benefits paid from the plan        (15,380)        (16,589) 
Expenses paid            (319)             (345) 
Premium paid          (1,218)          (1,214) 
Foreign currency exchange rate chan ges               (10)               (33) 
Fair value of plan assets at end of year       397,450        349,761 
 
Table 44 Defined benefit obligation - Pension 
Expressed in '000 CHF 31/12/2012 31/12/2011 
Benefit obligation at beginnin g of year          845,012         832,171 
Service cost            37,864           40,135 
Interest cost            25,699           24,536 
Plan participants' contributions            10,000             9,999 
Actuarial (gain)/loss            43,816        (44,026) 
Benefits paid          (15,380)        (16,589) 
Premium paid            (1,218)          (1,214) 
Benefit obligation at end of year         945,793        845,012 
 
   WT/BFA/W/304 
 
- 60 - 
 
  Table 45 History of defined benefit obligation s and experience gains and losses - Pension 
Expressed in '000 CHF 31/12/2012 31/12/2011 31/12/2010 
Defined benefit obligation         945,793         845,012          832,171 
Fair value of plan assets         397,450         349,761          339,988 
Surplus / Deficit         548,343         495,251         492,183 
    
Experience gains and losses on plan liabilities        (14,487)             8,819         0 
 
Table 46 Defined benefit obligation - ASHI 
Expressed in '000 CHF 31/12/2012 31/12/2011 
Benefit obligation at beginning of year             243,055         239,405 
Service cost               10,304           10,890 
Interest cost                7,283             6,951 
Actuarial (gain)/loss               13,709        (10,066) 
Benefits paid              (3,880)       (4,125) 
Benefit obligation at end of year            270,471        243,055  
 
Table 47 History of defined benefit obligati ons and experience gains and losses - ASHI 
Expressed in '000 CHF 31/12/2012 31/12/2011 
Defined benefit obligation           270,471          243,055 
Fair value of plan assets                     0                     0  
Surplus / Deficit          270,471          243,055  
   
Experience gains and losses on plan liabi lities               8,029 0 
 
15. Note 15 Loan and Grant 
180. The Organization has received a CHF 60 million loan from the Swiss authorities for the 
building project (CHF 20 million for the south an d north courtyards transformations and CHF 40 
million for the new administrative building). This loan is interest-free and the WTO will start in 
2013 the reimbursement of the principal only. The du ration of the loan is 50 years. The value of 
the interest waived in 2013 will be waived until  the final payment in 2063. 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. 
181. A grant of CHF 10 million has been given by the Swiss authorities for the building of the 
underground parking located under the new administrative building. This grant is conditional to the 
parking completion. The revenue will be recognised at the time of the final reception of the parking 
at the start of 2013. 
16. Note 16 Working Capital fund 
182. 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 minimum 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 is 
0.5% or less.  The interest earned on the advances made by Members accrues to the Organization. WT/BFA/W/304 
 
- 61 - 
 
  183. Four new Members have acceded to the WTO in 2012: Montenegro, Samoa, Russia and 
Vanuatu.   
Table 48 Working Capital Fund Statement 
Expressed in '000 CHF 31/12/2012 01/01/2012 
restated 
ASSETS   
Cash and cash equivalents 10,187 10,087 
Receivables from Members 308 30 
Tax receivables 6 9 
   
Total assets 10,502 10,125  
   
LIABILITIES AND CAPITAL FUND   
Advances made by Members 4,827 4,468 
Interests earned 5,675 5,657 
   
Total liabilities and capital fund 10,502 10,125  
 
17. Note 17 Reserves 
Table 49 Reserves 
Expressed in '000 CHF Ministerial 
Operating 
Fund Doha 
Development 
Global Trust 
Fund Appellate 
Body 
Operating 
Fund Member's 
Transition 
Operating 
Fund Total 
Opening Balance at 
01/01/2012  0 1,000  53 17,649 18,701  
Replenishment of reserves 600 0 1,759 13 2,372 
Utilisation of reserves 0 0  (1,812) (7,108)  (8,920) 
Balance at 31/12/2012 600 1,000   0 10,554  12,153  
 
18. Note 18 Revenue 
184. Revenue from non-exchange transactions include revenue from assessed contributions 
from Members and Observers and voluntary contributions.  
185. Revenue from exchange transactions are included in the line "Revenue from publications" 
and "Other revenue". Income from publications includes the sale through the WTO bookshop and 
WTO distributor as well royalties.  
Table 50 Other revenue 
Expressed in '000 CHF 31/12/2012 
Savings on prior year's outstanding obligations                     435  
Refund of prior year's outstanding obligations 1,145  
Rental of meeting rooms and office spaces                     103  
Deferred income 53 
Miscellaneous                     (720)  
Total 1,015   WT/BFA/W/304 
 
- 62 - 
 
  19. Note 19 Expenses 
186. Detailed information of the expenses is provided in the first two parts of this report 
presenting the budget and trust fund performances.   
20. Note 20 Segment reporting 
187. 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) Trust Funds. Segment reporting will 
only be presented for Statement of Financial Performance.  
Table 51 Segments Financial Performance  
Expressed in '000 CHF WTO Budget Trust Funds Inter-Fund 
Transactions TOTAL WTO 
REVENUE         
Contributions assessed on Members      195,766 0         195,766 
Contributions of Observers             844 0                844 
Voluntary contributions on trust funds 0         21,938          21,938 
Revenue from publications             354 0                354 
Other revenue          1,242               54            (280)        1,015 
          
Total revenue    198,206  21,991             (280)    219,918  
          
EXPENSES         
Staff Expenditure (161,686) (6,618)   (168,304) 
Temporary Assistance   (20,217) (3,153)                 35 (23,335) 
Supplies and other general services cots (9,773) (468)               244 (9,997) 
Travel & Hospitality (6,861)   (4,910)   (11,771) 
Implementing Partners (324)   (6,810)   (7,133) 
Contribution to ITC (18,911) 0   (18,911) 
Ministerial Conference Operating Fund (600) 0   (600) 
Depreciation and write offs (1,713) 0   (1,713) 
Provision for contributions in arrears          1,321 0            1,321 
Depreciation of provision for right of use - 
CWR 606 0  606 
Finance costs (19)      (16)   (35) 
Loss/(Gain) on foreign exchange 
transactions                74   (16)                 58 
          
Total expenses (218,103)  (21,991)                280 (239,815)  
          
Surplus/(deficit) for the period (19,897)                 0                      0  (19,897)  
 WT/BFA/W/304 
 
- 63 - 
 
  21. Note 21 Reconciliation with Budget 
188. The WTO consolidated budget includes the budget for the WTO Secretariat and the budget 
for the Appellate Body and its Secretariat. The WTO financial statements also include the activity financed by the Trust Funds. The WTO Consolidated  budget is approved on a modified cash basis 
(no assets capitalisation and no recognition of long-term employee benefits) whereas the financial 
statements are issued on an accrual basis (IPSAS).  
189. A statement of comparison of original 2012 Bu dget and Final Budget and Actual amounts is 
presented in the first narrative part of this report where material differences are explained. The 
following table reconciles the budgetary results with the surplus account as required by Financial Regulations and with the financial results as obtained from the implementation of IPSAS: 
Table 52 Reconciliation between budget result and financial result 
Expressed in '000 CHF    
Budgetary savings  31/12/2012 11,328  
  
Assessed contributions on new Members 1,466 
Miscellaneous income 758 
Provision for contribution in arrears 1,321 
Write-off and adjustme nt for inventories (10) 
  
Surplus  31/12/2012 14,863  
  
Acquisition of property , plant and equipment 7,238 
Depreciation and amortisation of pr operty, plant and equipment (1,703) 
Depreciation of provision for right of use - CWR 606 
Expenditure funded from prior budget  (1,808) 
Pension benefits actuarial valuation (25,386) 
After service health insurance (ASHI) benefits actuarial valuation (13,707) 
  
Financial result  31/12/2012 (19,897)  
 
190. The Surplus for the year 2012 amounts to CHF 14,862,593. This is the Surplus calculated 
using the same methodology as in prior years and in compliance with the WTO Financial Regulation 26. The Surplus Account had a credit balance at the end of 2011 amounting to CHF 
739,756. The balance of the Surplus Account at the end of 2012 amounts to CHF 15,602,349. 
191. The Financial result for 2012 amounts to a deficit CHF 19,896,800. It is the accounting 
result following the implementation of IPSAS. The difference between the positive budget results 
and the negative financial results is essentially explained by impact of the actuarial valuations of 
the liabilities towards the pension and after service health insurance benefits.   
22. Note 22 Key management personnel 
192. 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. 
193. The aggregate remuneration paid to key management personnel includes net salaries, 
entitlements such as education grant, home le ave and dependency allowances, employer pension 
and health insurance contributions. 
 
  WT/BFA/W/304 
 
- 64 - 
 
  Table 53 Key management personnel 
Expressed in 
'000 CHF Nb of 
individuals Net salaries and 
representation 
allowances Entitlements 
and other Pension and 
health plans Total 
31/12/2012 
Key management 
personnel 5 1,585 108 335 2,100 
 
23. Note 23 Contingent assets and contingent liabilities 
194. The Organization holds, at the end of 2012, a bank guaranty of 3.87 MCHF from Implenia 
related to the Building Project. The Organization  also held, until the end of June 2012, a bank 
guaranty of 1.5 MCHF from HRS related to the Building Project. .  
195. The Organization has several on-going litigations related to its human resources at the end 
of 2012.  In addition, the Organization has a disagreement on the final accounts with HRS, one of 
the general contractors on the Building Project. The Organization is withholding several payments 
to HRS at year-end.     
24. Note 24 Commitments 
196. The commitments opened on the 31st December 2012 amount to 10,471 kCHF distributed 
as follow: 
(a) Regular budget: 1,208 kCHF 
(b) Trust Funds: 5,347 kCHF 
(c) Operating funds: 3,915 kCHF 
25. Note 25 Events after the reporting date 
197. The WTO's reporting date is 31 December 2012. The financial statements were authorised 
for issue on 12 April 2013, the date at which they were submitted to the External Auditor by the 
Director-General. On the date of signing these accounts, there have been no material events, favourable or unfavourable, incurred between the reporting date and the date when the financial 
statements were authorised for issue that would have impacted these statements. WT/BFA/W/304 
 
- 65 - 
 
  E. Schedules 
1. Schedule A 2012 Early payment encouragement scheme 
Table 54 Interest to be distributed to Members in 2014 
Members Interest earned  Members Interest earned 
Albania 52  Liechtenstein 46 
Angola 341  Lithuania 92 
Argentina 264  Luxembourg 427 
Armenia 13  Macao, China 127 
Australia 2,315  Madagascar 10 
Austria 1,876  Malaysia 1,832 
Bahrain 169  Maldives 26 
Bangladesh 111  Malta 66 
Barbados 19  Mauritius 56 
Belgium 3,049  Mexico 3,003 
Belize 3  Moldova 30 
Bolivia, Plurinational State of 2  Montenegro 9 
Botswana 31  Morocco 197 
Brazil 898  Mozambique 29 
Brunei Darussalam 62  Myanmar 29 
Bulgaria 329  Namibia 44 
Burkina Faso 19  Nepal 19 
Cambodia 28  Netherlands 5,095 
Cameroon 32  New Zealand 441 
Canada 5,681  Nicaragua 29 
Cape Verde 22  Norway 922 
Chile 743  Oman 121 
China 7,046  Pakistan 311 
Colombia 383  Panama 111 
Costa Rica 158  Paraguay 1 
Croatia 214  Peru 241 
Cuba 90  Philippines 627 
Cyprus 128  Poland 1,847 
Czech Republic 1,433  Portugal 559 
Denmark 1,786  Qatar 336 
Dominican Republic 6  Romania 643 
Ecuador 36  Rwanda 1 
Egypt 560  Saint Lucia 10 
Estonia 187  Singapore 4,295 
Fiji 26  Slovak Republic 635 
Finland 932  Slovenia 263 
France 7,413  Solomon Islands 24 
Gabon 2  South Africa 1,003 
Georgia 49  Spain 726 
Germany 14,913  Sri Lanka 27 
Ghana 44  Saint Kitts and Nevis 7 
Guatemala 95  Suriname 26 
Guyana 19  Swaziland 16 
Haiti 25  Sweden 2,211 
Honduras 1  Switzerland 2,562 
Hong Kong, China 5,003  Chinese Taipei 2,769 
Hungary 733  Thailand 1,831 
Iceland 87  Tonga 29 
India 1,249  Trinidad and Tobago 50 
Indonesia 1,349  Tunisia 58 
Ireland 1,513  Turkey 1,633 
Israel 336  Ukraine 561 
Italy 5,611  United Arab Emirates 1,707 
Jamaica 3  United Kingdom 8,746 
Japan 5,919  United States of America 839 
Jordan 94  Viet Nam 582 
Kenya 70  Zambia 29 
Kingdom of Saudi Arabia 131  Total 124,712  
Korea, Republic of 2,870  
Kyrgyz Republic 19  
Latvia 154   WT/BFA/W/304 
 
- 66 - 
 
  2. Schedule B Statement of Outstanding Contributions as 31 December 2012 – 
Members 
Table 55 Outstanding contributions as 31 December 2012 - Members 
Members  
Swiss Francs  
Contributions  Category  
 1969-2010  2011  2012  TOTAL Advance  
 
Albania       
Angola    1,593 1,593   
Antigua and Barbuda I   29,102  29,127 58,229   
Argentina       
Armenia       
Australia       
Austria       
Bahrain       
Bangladesh       
Barbados       
Belgium       
Belize       
Benin   10,491  29,145 39,636   
Bolivia, Plurinational State of     54,404 54,404   
Botswana       
Brazil    56,911 56,911   
Brunei Darussalam       
Bulgaria       
Burkina Faso    3,455 3,455   
Burundi (2)  520,897  29,145  29,145 579,187   
Cambodia       
Cameroon    1,397 1,397   
Canada      5,428,074  
Cape Verde       
Central African Republic (2)  960,247  29,145  29,145 1,018,537   
Chad(2)  692,333  44,689  46,632 783,654   
Chile      44 
China       
Colombia       
Congo (2)  435,011  54,404  52,461 541,876   
Costa Rica      443,645  
Côte d'Ivoire (2)  370,862  112,694  116,580 600,136   
Croatia       
Cuba      6 
Cyprus       
Czech Republic       
Democratic Republic of the 
Congo (2)  210,940  62,176  68,005 341,121   
Denmar k       
Djibouti (2)  311,387  29,145  29,145 369,677   
Dominica III 55,063  29,145  29,145 113,353   
Dominican Republic  596,035   118,394 714,429   
Ecuado r    5,068 5,068   
Egypt       
El Salvado r    91,313 91,313   
Estonia      181,591  
European Union (1)       
Fiji    14 14  
Finland       
Former Yugoslav Republic of 
Macedonia   55,171  58,290 113,461   
France       
Gabon    22,480 22,480   
Gambia (2)  424,437  29,145  29,145 482,727   
Georgia       
Germany       
Ghana       
Greece    972,631 972,631   
Grenada II  25,350  29,145  29,145 83,640   
Guatemala       
Guinea    29,145 29,145   
Guinea-Bissau IV 466,374  29,145  29,145 524,664   
Guyana    3,936 3,936   
Haiti       
Honduras    21,099 21,099   
Hong Kong, China       
Hungary       
Iceland       
India    688,810 688,810   
Indonesia       
Ireland       WT/BFA/W/304 
 
- 67 - 
 
  Members  
Swiss Francs  
Contributions Category 
 1969-2010  2011  2012 TOTAL Advance  
 
Israel       
Italy       
Jamaica    67,047 67,047   
Japan       
Jordan       
Kenya    189 189  
Kingdom of Saudi Arabia       
Korea, Republic of        
Kuwait    617,423 617,423   
Kyrgyz Republic    10,168 10,168   
Latvia       
Lesotho    29,129 29,129   
Liechtenstein       
Lithuania       
Luxembourg       
Macao, China       
Madagasca r    675 675  
Malawi    29,145 29,145   
Malaysia       
Maldives       
Mali   3,533  29,145 32,678   
Malta       
Mauritania (2)  964,753  29,145  29,145 1,023,043   
Mauritius       
Mexico       
Moldova       
Mongolia      124 
Montenegro      75 
Morocco       
Mozambique       
Myanma r      1,269  
Namibia       
Nepal    171 171  
Netherlands       
New Zealand       
Nicaragua    49 49  
Niger (2)  584,464  29,145  29,145 642,754   
Nigeria   3,233  699,417 702,650   
Norway       
Oman      1 
Pakistan       
Panama      5,235  
Papua New Guinea I   33,031  48,561 81,592   
Paraguay    80,581 80,581   
Peru       
Philippines       
Poland       
Portugal       
Qatar       
Romania       
Russian Federation    1,415,888 1,415,888   
Rwanda    28,284 28,284   
Saint Kitts and Nevis    727 727  
Saint Lucia       
Saint Vincent and the 
Grenadines   497 29,131 29,628   
Samoa    18,844 18,844   
Senegal   3,225  46,600 49,825   
Sierra Leone (2)  766,154  29,145  29,145 824,444   
Singapore      4,425,112  
Slovak Republic       
Slovenia       
Solomon Islands       
South Africa       
Spain    2,445,987 2,445,987   
Sri Lanka       
Suriname      28,995  
Swaziland       
Sweden       
Switzerland       
Chinese Taipei       
Tanzania   60,159  67,955 128,114   
Thailand      2,138,374  
Togo (2)  115,050  29,145  29,145 173,340   
Tonga        WT/BFA/W/304 
 
- 68 - 
 
  Members  
Swiss Francs  
Contributions Category 
 1969-2010  2011  2012 TOTAL Advance  
 
Trinidad and Tobago       
Tunisia       
Turkey       
Uganda    40,803 40,803   
Ukraine       
United Arab Emirates      51,650  
United Kingdom       
United States of America    4,737,238 4,737,238   
Uruguay    89,339 89,339   
Vanuatu    10,380 10,380   
Venezuela III  1,161,863  722,715  742,226 2,626,804   
Viet Nam       
Zambia      450 
Zimbabwe    29,118 29,118   
Yugoslavia (3)  830,439    830,439   
GRAND TOTAL  6 9,491,659  1,515,715  14,105,705 25,113,079  12,704,645  
 
(1)  No assessment is made in the European Union as such 
(2)  Member under payment scheme 
(3)  Former Contracting Party to GATT 1947 which is not WTO Member  WT/BFA/W/304 
 
- 69 - 
 
  3. Schedule C Statement of Outstanding Contributions as 31 December 2012 – 
Observers 
Table 56 Outstanding contributions as 31 December 2012 - Observers 
Observers 
Swiss Francs 
Contributions years 1997-2010  2011  2012  TOTAL Advance  
 
Afghanistan                 29,145                29,145   
Algeria      
Andorra      
Azerbaijan      
Bahamas      
Belarus      
Bhutan                        14                       14   
Bosnia and Herzegovina      
Comoros      
Equatorial Guinea                 29,145                29,145   
Ethiopia      
Holy See      
Iran                29,145                29,145                58,290   
Iraq      
Kazakhstan      
Lao People's Democratic Republic      
Lebanon                   29,145                29,145   
Liberia                   239                29,145                29,145                58,529   
Libya                  25,716                29,145                54,861   
Sao Tome And Principe            248,239                29,145                29,145              306,529   
Serbia (Republic of)      
Seychelles      
Sudan            279,514                29,145                29,145              337,804   
Syrian Arab Republic                 27,609                29,145                56,754   
Tajikistan      
Uzbekistan      
Vanuatu                 18,765                18,765   
Yemen                   3,379                  3,379   
GRAND TOTAL             527,992              169,905              284,463              982,360   
  
 
    
 
   
  WT/BFA/W/304  
 
- 70 - 4. Schedule D Voluntary contributions receiv ed in 2012 and 2011 per donor and by fund 
Table 57 WTO Trust funds - Voluntary contributi ons received in 2012 per donor and by fund 
Funds  
 
 
 
 
 
 
 
Donors 
Doha development 
agenda global 
trust fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat 
Mission internship 
programme 
8th 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 
TOTAL 
Austria 240,200         240,200 
Canada 1,362,298       917,095   2,279,393 
China         372,000  372,000 
Denmar k 321,903  160,952      321,903   804,758 
Estonia 23,199         23,199 
European Union  1,024,050   4,493    241,460  437,164   1,707,167 
France 600,500  600,500        1,201,000 
Germany 1,198,000       180,150   1,378,150 
Ireland   396,330      222,305   618,635 
Japan 395,604       100,196   495,800 
Korea (Republic of)  334,950         334,950 
Liechtenstein  40,000         40,000 
Netherlands      1,793,909    981,997   2,775,906 
Norway 2,438,905      163,639  245,559   2,848,103 
Sweden 2,386,480      108,585  1,015,560   3,510,625 
Switzerland  800,000         800,000 
Chinese Taipei       93,900     93,900 
United States  940,535     140,850   106,259   1,187,294 
UNOPS  3,958,303         3,958,303 
 Total  12,106,624 3,958,303  1,157,782  4,493  1,793,909  234,750  513,684  4,528,188  372,000  24,669,383 
 
  
  WT/BFA/W/304  
 
- 71 - Table 58 WTO Trust funds - Voluntary contributi ons received in 2011 per donor and by fund 
Funds  
 
 
 
 
 
 
 
Donors 
Doha development 
agenda global 
trust fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat 
Mission internship 
programme 
8th Ministerial 
conference - LDCs 
Netherland 
trainees 
Trade facilitation – 
Negotiating group 
STDF Standards 
and trade 
development 
facility 
China LDCs and 
accessions 
programme 
TOTAL 
Australia 1,803,600               1,803,600 
Austria 258,600               258,600 
Canada 944,276           1,888,552   2,832,828 
China                 333,200  333,200 
Czech Republic 23,746               23746.2 
Denmark 331,230   165,615       331,230   828,074 
Estonia 26,209               26,209 
European Union 1,187,500     87,495   206,720 399,511   1,881,226 
Finland 1,228,000           491,200   1,719,200 
France 611,000   611,000           1,222,000 
Germany 1,237,500           183,300   1,420,800 
Ireland     377,190       148,250   525,440 
Japan 395,604           187,398   583,002 
Korea (Republic of) 322,350               322,350 
Liechtenstein 40,000               40,000 
Netherlands 1,472,990       94,701       1,567,691 
Norway 1,593,626         144,655 237,624   1,975,904 
Spain 400,050               400,050 
Sweden 2,074,322           1,008,210   3,082,532 
Switzerland             500,000   500,000 
Taipei (Chinese) 184,200           73,680   257,880 
United States 940,580           89,600   1,030,180 
UNOPS        3,343,015              3,343,015 
Total 15,075,383   3,343,015  1,153,805  87,495    94,701  351,375  5,538,554   333,200  25,977,528 
  
  WT/BFA/W/304  
 
- 72 - 5. Schedule E Balance due to donors as 31 December 2012 and 2011 
Table 59 WTO Trust funds - Balance due to donors as 31 December 2012 
Funds 
 
 
 
 
 
 
Donors 
Doha 
development 
agenda global 
trust fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat 
Mission 
internship 
programme 
Independent 
entity 
Program 
support fund 
8th Ministerial 
conference - 
LDCs 
Trainee proram 
Trade 
facilitation –
Human 
resources 
Trade 
facilitation – 
National needs 
assessments 
Trade 
facilitation – 
Negotiating 
group 
STDF 
Standards and 
trade 
development 
facility 
China LDCs and 
accessions 
programme 
Total 
Australia     750,260          2,077          127,445    879,782 
Austria     256,409          5,529              261,938 
Canada  1,078,316          22,724          2,161,942    3,262,982 
China       30,592                      400,961  431,552 
Denmar k     327,066    227,015      36,395        854,538    1,445,014 
Finland     543,695          19,013          685,679    1,248,387 
France      667,298    1,016,873                    1,684,171 
Germany  1,267,487                    412,559    1,680,046 
Iceland          3,545              3,545 
Ireland     121,818    665,253      12,281      51,396    415,687    1,266,434 
Italy                     21,942    21,942 
Japan     406,277                    360,143    766,420 
Korea (Republic of)     337,445                        337,445 
Liechtenstein       23,396                        23,396 
Luxembourg       44,856          1,341              46,197 
Netherlands     626,385            1,053,603       1,159,150    2,839,137 
Norway  2,137,467          91,377      165,889  180,404  425,362    3,000,499 
Sweden  2,318,886          146,542        119,363  2,083,617    4,668,408 
Switzerland     468,135          12,516      41,565    549,969    1,072,185 
Chinese Taipei        49,406                107,266    81,768    238,440 
Taiwan           11,123              11,123 
United Kingdom           26,632    0   34,840  148,782    210,254 
United States     961,338                141,312    311,488    1,414,138 
Organizations:                          UNOPS   1,708,969                     1,708,969 
Others:                          Bureau Veritas 
International Ltd.      17,698                 17,698 
Cotecna 
International Ltd.       17,604                 17,604 
Inchcape Testing 
Services Int'l Ldt.       17,698                 17,698 
Inspectorate Griffith 
Ltd.       17,699                 17,699 
Société Générale de 
Surveillance S.A.       17,538                 17,538 
WTO Members         872,433                872,433 
Total 12,416,532  1,708,969 1,909,141  88,237  872,433  391,096  1,053,603 0  507,429  334,606  9,800,069  400,961  29,483,075  
  WT/BFA/W/304  
  
- 73 - Table 60 WTO Trust funds - Balance due to donors as 1st January 2012 
Funds 
 
 
 
 
Donors 
Doha 
development 
agenda global 
trust fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat 
Mission 
internship 
programme 
Independent 
entity  
Program 
support fund  
8th 
Ministerial 
conference - 
LDCs 
Trainee 
proram 
Trade 
facilitation –
Human 
resources 
Trade 
facilitation – 
National 
needs 
assessments 
Trade 
facilitation – 
Negotiating 
group 
STDF 
Standards 
and trade 
development 
facility 
China LDCs 
and 
accessions 
programme 
Total 
Australia 1,281,510         2,052          194,383    1,477,944 
Austria 197,845         5,461              203,306 
Canada 479,440         22,447          2,380,120    2,882,007 
China 52,253                     333,777  386,030 
Denmar k 236,834   176,031      35,951         981,471    1,430,286 
Finland 928,678         18,781          1,045,816    1,993,275 
France 539,426   908,818                    1,448,244 
Germany 967,488                   449,167    1,416,656 
Iceland           3,502              3,502 
Ireland 208,076   591,271      12,131      51,085    411,786    1,274,349 
Italy                     33,467    33,467 
Japan 298,955                   449,139    748,095 
Korea (Republic of) 241,762                       241,762 
Luxembourg 76,617         1,325              77,942 
Netherlands 1,069,921           25,535       785,919    1,881,375 
New Zealand 25,964                      25,964 
Norway 1,213,729         90,262      164,885  165,155  403,331    2,037,363 
Spain 70,996                       70,996 
Sweden 1,576,385         144,753      74,482  34,338  2,162,724    3,992,683 
Switzerland           12,363      41,313    838,826    892,503 
Chinese Taipei  84,390               12,991    124,714    222,095 
Taiwan           10,987              10,987 
United Kingdom           26,307    2,519  56,232  63,467  226,926    375,451 
United States 702,530                   368,895    1,071,425 
Organizations:                          
UNOPS   1,775,768                     1,775,768 
Others:                          
Bureau Veritas International 
Ltd.       17,703                  17,703 
Cotecna International Ltd.       17,609                  17,609 
Inchcape Testing Services 
Int'l Ldt.       17,703                  17,703 
Inspectorate Griffith Ltd.       17,705                  17,705 
Société Générale de 
Surveillance S.A.       17,543                  17,543 
WTO Members         748,163                748,163 
Total 10,252,801 1,775,768 1,676,119  88,263  748,163  386,321  25,535 2,519  400,988  262,961  10,856,685  333,777  26,809,901  
  WT/BFA/W/304  
 
- 74 - 6. Schedule F Interest earned in 2012 and 2011 
Table 61 WTO Trust funds - Interest earned in 2012 
Funds 
 
 
 
 
 
Donors 
Doha 
development 
agenda 
global trust 
fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat  
Mission 
internship 
programme  
8th 
Ministerial 
conference - 
LDCs  
Trainee 
proram  
Trade 
facilitation –
Human 
resources  
Trade 
facilitation – 
National 
needs 
assessments  
Trade 
facilitation – 
Negotiating 
group  
STDF 
Standards 
and trade 
development 
facility  
China LDCs 
and 
accessions 
programme  
Total 
Australia 1,988     7         130   2,125 
Austria            604      17             621 
Canada 2,977     71         2,448   5,496 
China              81                  591 673 
Czech Republic                      0 
Denmark            787    680 114         865   2,446 
Estonia 47                   47 
European Union            334      8       71 215   627 
Finland 1,441     60         702   2,202 
France         1,646    3,181               4,827 
Germany 2,850               350   3,200 
Hong Kong, China                     0 
Iceland       11             11 
Ireland            323    1,897 39     184   350   2,793 
Italy                 22   22 
Japan            475                332   807 
Korea (Republic of) 567                   567 
Latvia                     0 
Liechtenstein 25                   25 
Luxembourg            119      4             123 
Netherlands 1,660       1,561       1,236   4,456 
New Zealand              40                    40 
Norway 4,011     287     593 196 317   5,404 
Romania                     0 
Slovak Republic                     0 
Spain            110                    110 
Sweden 4,142     460       268 1,834   6,704 
Switzerland            857      39     149   563   1,608 
Taipei (Chinese) 131     35     110   84   359 
Turkey                     0 
UNDP                     0 
United Kingdom       84   0   68 152   303 
United States 1,532           112   255   1,899 
UNOPS        4,217                 4,217 
World Bank Institute                     0 
Total 26,746       4,217       5,759       1,235       1,561               -           1,147          602          9,856          591  51,715 
  
  WT/BFA/W/304  
  
- 75 -  
Table 62 WTO Trust funds - Interest earned in 2011 
Funds 
 
 
 
 
Donors 
 
 
Doha 
development 
agenda global 
trust fund  
Enhanced 
integrated 
framework – 
Executive 
secretariat  
Mission 
internship 
programme  
8th Ministerial 
conference - 
LDCs  
Trainee proram  
Trade 
facilitation –
Human 
resources  
Trade 
facilitation – 
National needs 
assessments  
Trade 
facilitation – 
Negotiating 
group  
STDF 
Standards and 
trade 
development 
facility  
China LDCs and 
accessions 
programme  
Total 
Australia 1,873     11         472   2,356 
Austria 480     29             509 
Canada 1,139     119         4,432   5,690 
China 163                 577 740 
Czech Republic  0                   0 
Denmark 294   212 191         1,475   2,172 
Estonia 36                   36 
European Union 1,536     3       128 669   2,336 
Finland 1,146     100         1,105   2,351 
France 1,014   1,838               2,852 
Germany 2,437               675   3,112 
Hong Kong, China                     0 
Iceland       19             19 
Ireland 649   1,355 64     205   704   2,977 
Italy                 81   81 
Japan 560               688   1,248 
Korea (Republic of) 318                   318 
Latvia                     0 
Liechtenstein 18                   18 
Luxembourg 239     7             246 
Netherlands 1,990       244       1,909   4,143 
New Zealand 81                   81 
Norway 2,856     478     660 513 381   4,888 
Romania                     0 
Slovak Republic                     0 
Spain 292                   292 
Sweden 3,430     767     298 137 4,323   8,955 
Switzerland 66     66     165   705   1,002 
Taipei (Chinese) 4     58     52   90   204 
Turkey                     0 
UNDP                     0 
United Kingdom       139   9 225 253 551   1,177 
United States 1,223               696   1,920 
UNOPS   6,174                 6,174 
World Bank Institute                      0 
Total    21,843        6,174        3,406        2,051           244               9        1,605        1,031     18,957           577  55,896 
 WT/BFA/W/304 
 
- 76 - 
 
  7. Schedule G World Trade Organization – Program Support Fund 
Table 63 WTO Program support fund 
 
2012 2011 
Opening Balance 748,164 1,219,071 
Income 2,544,062 2,543,161 
Total income 3,292,225 3,762,232  
Retrocession to other organizations 477,008 320,863 
Salary costs 1,766,168 2,092,416 
Payment of various overheads 0 56,937 
Share of certain secretariat cost 176,617 214,935 
Total costs  2,419,792 2,685,150  
Closing balance 872,433 1,077,081  
 
Table 64 WTO Program support fund actual expenditure and overheads 
Funds Actual expenditure Overheads 
CHF 
13% of actual expenses 
 2012 2011 2012 2011 
Doha Development Agenda Global Trust Fund 8,822,690 12,167,227 1,146,950 1,581,739 
Enhanced Integrated Framework - Executive Secretariat 3,565,769 3,318,850 463,550 431,450 
Mission Internship Programme 823,468 634,962 107,051 82,545 
8th Ministerial Conference - LDCs 843 548,445 110 71,298 
Netherlands Trainee Programme 679,117 522,618 88,285 67,940 
Trade Facilitation - National Needs Assessments (1,112) (481) (145) (63) 
Trade Facilitation - LDCs 457,631 550,119 59,492 71,515 
Standards and Trade Development Facility 4,951,026 1,821,039 643,633 236,735 
China LDCs and Accesions Programme 270,272 0 35,135 0 
Other extra budgetary funds:  IE - Preshipment inspection 26 (107) 0 0 
Other extra budgetary funds:  Program support fund 1,942,785 2,364,287 0 0 
Total  21,512,515  21,926,960 2,544,061 2,543,161  
 WT/BFA/W/304 
 
- 77 - 
 
   
Table 65 Overheads shared with other organizations 
Overheads shared with other organizations Retrocession amount 
 2012 2011 
STDF - ITC  0 (1,556) 
STDF - FAO  247,308 4,857 
STDF - World Bank 0 (19,547) 
STDF - ICCO 0 0 
STDF - IICA  44,324 30,546 
STDF - OIRSA 7,302 0 
STDF - UNIDO 72,878 3,085 
STDF - UNESCAP 5,366 3,228 
STDF - UNCTAD 0 0 
STDF - UNDP 20,774 0 
STDF – CAB International 10,009 0 
TIFES - UNDP 23,056 53,179 
ICTSD  0 (158) 
FLACSO Argentina 0 16 
DDAGTF - Pacific Isla nd Forum Secretariat (317) 2,863 
DDAGTF - UNESCAP 0 0 
DDAGTF - University of Singapore 0 0 
DDAGTF - University of Benin 0 65,409 
DDAGTF - University of Colombia 21,511 55,732 
DDAGTF - University of Swaziland 18,810 68,810 
DDAGTF - University of India 4,104 47,622 
DDAGTF - IICA 1,882 5,847 
DDAGTF - UNECA 0 929 
Total Retrocession 477,008 320,863  
Total Expenses 21,989,523 22,247,823  
Net Income - Programme Support Fund 
(Overhead charges - Retrocession) 2,067,053 2,222,299  
 
 
__________