RESTRICTED  
 
WT/BFA/W/392  
10 June 2016  
(16-3158)  Page: 1/90  
Committee on Budget, Finance and Administration   
  
   
  
 
  
 
   
 
  
WORLD TRADE ORGANIZATION 
2015 FINANCIAL PERFORMANCE REPORT 
 
 
 WT/BFA/W/392 
 
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  EXECUTIVE SUMMARY OF 2015 
1. The World Trade Organization (WTO) has 162 Members at the end of 2015, accounting for 
approximately 97 per cent of Global Trade. Two new Members formally acceded to the WTO in 2015 are Seychelles and Kazakhstan.  
2. The Nairobi Package contains a series of six Ministerial Decisions on Agriculture, Cotton and 
issues related to Least-Developed Countries. These include a commitment to abolish export subsidies for farm exports, which the Director-General Roberto Azevêdo hailed as the “most 
significant outcome on Agriculture” in the Organization’s 20-year history. 
3. The 2015 structure of the financial statements is based on International Public Sector 
Accounting Standards (IPSAS). These Standard s aim to improve the quality of general 
purpose financial reporting by public sector entities, leading to better informed assessments 
of the resource allocation decisions made by Governments, thereby increasing transparency 
and accountability. The adoption of IPSAS gene rated the disclosure of the WTO Pension Plan 
benefit and After Service Health Insurance
1 liabilities. This has had a considerable effect on 
the financial situation of WTO Secretariat. The WTO Pension Plan Liabilities and Pension 
Assets are expressed separately in order to better disclose information to Third Parties. 
4. The 2015 amendment of the Pension Plan increased the commuted portion of the retirement 
pension lump-sum, this modification allowed fo r the first time since the IPSAS introduction, 
to have pension actuarial revenues higher pension actuarial costs. Annual ASHI costs, on the contrary, increased compared to the previous year. In order to reduce the volatility of the actuarial difference across the year, a new calculation method of the discount rate was 
introduced and aligned to the Swiss Standard set by the Pension National Body.  
5. The budgetary expenditure amounted to CHF 192.6 million in 2015 compared to an 
approved budget of CHF 197.2 million. The bu dgetary savings amounted to a total of 
CHF 4.6 million and emanated from th e following parts of the budget:  
o Savings of about CHF 4 million have been achieved in part A of the budget on 
personnel related costs. This was mainly due to a high number of vacant posts in the 
first semester 2015. Part of these savings were used to provide additional human 
capital to the Dispute Settlement area and to the Appellate Body. Additional savings were generated by lower expenditure fo r translation and interpretation. The 
possibility to generate high savings on personnel costs becomes year by year less 
likely due to the fact that most of the vacant posts have been filled and transferred 
to the Dispute Settlement area and due to the increased promptness of the 
recruitment process. 
o Savings of about CHF 4 million have been achieved in part B mainly on postal and 
communication costs in addition to savings generated in the area of travel, rental and leasing of equipment and security equipment. 
o An allocation of CHF 3.4 million for the Building Renovation Fund was charged to 
part C of the Budget, which partially compensated the savings on the previous parts. 
6. The 2015 Members' contributions amounted to CHF 195.6 million, including the contributions 
of two new Members and miscellaneous inco me amounting to CHF 3.2 million. The 
miscellaneous income is higher than the CHF 1.7 million initially budgeted due to a surplus 
generated by the International Trade Center  (ITC) for the Biennium 2011-2012 which was 
returned to the WTO in 2015. The collection of Members' contributions in 2015 represented 
92% of the assessed contributions. The provisio n for contributions in arrears decreased by 
CHF 1 million. 
7. The budgetary savings of CHF 4.6 million combin ed with a higher than expected level of 
miscellaneous income and the contributions for Seychelles and Kazakhstan, all totalling 
CHF 1.6 million, led to a positive budgetary re sult of CHF 6.2 million for 2015. The budgetary 
result is however only an intermediate stage to assess the overall performance of the WTO. Due to the introduction of IPSAS, the financial result and not the budgetary result has to be 
considered to evaluate the yearly performance of the Secretariat. 
                                               
1 After Service Health Insurance refers to the health coverage system of retirees. WT/BFA/W/392 
 
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  8. For 2015, the financial result obtained accordin g to IPSAS, led to a defi cit of CHF 6.6 million, 
diverging from the positive budget result. The variance between Budget Result and Financial 
Deficit derived from the negative impact of th e actuarial cost of ASHI benefits, being CHF 15 
million, and other accounting adjustments related to the IPSAS implementation, e.g.: 
depreciation etc.. 
9. The Doha Development Agenda Global Trust Fund (DDAGTF) along with several other trust 
funds financed technical assistance programmes and training activities for Developing and 
Least Developed Countries. For example in 2015, under the framework of these trust funds, 
e-learning courses in three languages were provided to 7'523 participants, costs related to 16 interns from developing and least developed countries were covered. Additionally, over 100 general and specialized Technical Assistance, training and capacity building activities 
were organized. The balance of the DDAGTF amounted to CHF 16.4 million as at 31 
December 2015.  WT/BFA/W/392 
 
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  TABLE OF CONTENTS 
EXECUTIVE SUMMARY  OF 2015 ........................................................................................... 2  
1   INTROD UCTION  ............................................................................................................. 9 
1.1   Budget ...................................................................................................................... 10  
1.2   Outstanding contributions ............................................................................................ 10  
1.3   Budget Breakdow n ..................................................................................................... 11  
1.4   Building capacity ....................................................................................................... . 12 
1.5   Budget and fi nancial re sults ......................................................................................... 13  
2   BUDGET PE RFORMANCE ............................................................................................... 13  
2.1   2015 Income  .............................................................................................................  13 
2.2   2015 Consolidated WT O Budget Perf ormanc e.................................................................. 15  
2.3   2015 WTO Secretaria t Budget Perf ormanc e .................................................................... 16 
2.3.1   Part A - Staffing Resources ........................................................................................ 17  
2.3.2   Part B - Other Reso urces .......................................................................................... 19  
2.3.3   Part C - Operating Funds and ITC ............................................................................... 21  
2.3.4   Proposed transfers be tween budgetary sections ........................................................... 22  
2.4   2015 Appellate Body and its Se cretariat budget performa nce ............................................ 23  
2.4.1   Part A - Staffing Resources ........................................................................................ 24  
2.4.2   Part B - Other Reso urces .......................................................................................... 25  
2.4.3   Part C - Operating Funds and ITC ............................................................................... 25  
2.5   Proposed transfers be tween budgetary sections .............................................................. 25  
2.6   Expenditure by Key Outputs and Pr ojects ....................................................................... 26  
2.6.1   Dispute Settlement .................................................................................................. 2 6 
2.6.2   Informatio n Technology ............................................................................................ 28  
2.6.3   Technical Assistance ................................................................................................. 29  
2.6.4   Security .............................................................................................................. ... 29 
2.6.5   Building  Maintenance ............................................................................................... 30  
2.6.6   Documents Reproduction .......................................................................................... 30  
2.6.7   Human Resources Training Pr ogramme ....................................................................... 31  
2.6.8   Ou treach .............................................................................................................. .. 31 
3   TRUST FUNDS PERFORMANCE ...................................................................................... 33  
3.1   Doha Development Agenda Global Trust Fund ................................................................. 33  
3.2   General WTO-related technical assistance and training ..................................................... 35  
3.3   Specialized and advanced te chnical assistance  training .................................................... 35  
3.4   WTO Chairs Progra mme (Academic support)................................................................... 35  
3.5   Trainee programmes and internships ............................................................................. 36  
3.6   E-learning .............................................................................................................. ... 36 
3.7   Evaluation of WTO Trus t funds Activiti es (TEVAL) ............................................................ 37  
3.8   The French Irish Internship Programme (TIMM1) ............................................................. 37  
3.9   Netherlands Trainee Programme (TNL05) ....................................................................... 38  WT/BFA/W/392 
 
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  3.10   Trade Facilitation Agreement Facility (TTFAF) ................................................................ 39  
3.11   Ministerial Conference – Particip ation of Least-Deve loped Countries ................................. 39  
3.12   Standards and Trade Deve lopment Facility  (TWB01) ...................................................... 40  
3.13   China LDCs and Acce ssions Programme  (TCLAP) ........................................................... 41  
3.14   Enhanced Integrated Framewor k Executive Secret ariat (TIFES) ....................................... 41  
3.15   Independent Entity – Pre-Shipme nt Inspection – De posits (T0013) .................................. 42  
3.16   Programme Suppo rt Fund (E PSF1) .............................................................................. 42  
4   FINANCIAL STATEMENTS ............................................................................................. 44  
4.1   Management letter of represen tation ............................................................................. 44  
4.2   Opinion of the external au ditor ..................................................................................... 45  
BUNDESRECHNUNGSHOF -SUPREME AUDI T  INSTITUTION OF GERMANY ......................... 45  
4.3   Financial statements ................................................................................................... 46 
4.4   Notes to the fi nancial statements .................................................................................. 50  
4.4.1   Note 1 Accounting policies......................................................................................... 50  
4.4.2   Note 2 Fina ncial risks policy ...................................................................................... 54  
4.4.3   Note 3 Changes in the financial st atements and relevant  events in  2015 .......................... 55  
4.4.4   Note 4 Cash an d cash equi valents .............................................................................. 56  
4.4.5   Note 5 Receivables from Members, Observer s and Dono rs ............................................. 56  
4.4.6   Note 6 Inventories ................................................................................................... 57 
4.4.7   Note 7 Other receivables ........................................................................................... 57  
4.4.8   Note 8 Advances and Prepayments ............................................................................. 58  
4.4.9   Note 9 Property , Plant and Eq uipment ........................................................................ 58  
4.4.10   Note 10 Inta ngible Assets ....................................................................................... 60  
4.4.11   Note 11  Accounts pa yable ..................................................................................... 60  
4.4.12   Note 12  Assessed contributions paid in ad vance ....................................................... 61  
4.4.13   Note 13 Voluntary contributions refundable to donors .................................................. 61  
4.4.14   Note 14 Em ployee benefits ...................................................................................... 62  
4.4.15   Note 15 Lo an and Gr ant .......................................................................................... 66  
4.4.16   Note 16 Work ing Capital fund .................................................................................. 66  
4.4.17   Note  17 Funds ....................................................................................................... 67 
4.4.18   Note 18 Revenue ................................................................................................... 67  
4.4.19   Note 19 Expenses .................................................................................................. 68  
4.4.20   Note 20 Segment reporting ..................................................................................... 70  
4.4.21   Note 21 Reconc iliation with Budget ........................................................................... 71  
4.4.22   Note 22 Key management personnel ......................................................................... 72  
4.4.23   Note 23 Contingent assets  and contingent liabilities .................................................... 72  
4.4.24   Note 24 Commitments ............................................................................................ 73  
4.4.25   Note 25 Events after the reporting date ..................................................................... 73  
4.5   Sc hedules................................................................................................................ .. 74 
4.5.1   Schedule A 2015 Statement of Cont ributions from Memb er States  2015 .......................... 74  
4.5.2   Schedule B 2014 Early pa yment encouragem ent schem e ............................................... 78  WT/BFA/W/392 
 
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  4.5.3   Schedule C Statement of Outstanding Contributions as 31 December 2015 – Members ...... 80  
4.5.4   Schedule D Statement of Outstanding Contributions as 31 December 2015 –Observers ...... 83 
4.5.5   Schedule E Voluntary contributions rece ived in 2015 and 2014 per donor and by fund ....... 84  
4.5.6   Schedule F Balance due to do nors as 31 December 2015 and 2014 ................................. 86  
4.5.7   Schedule G Interest earned in 2014 ............................................................................ 88  
4.5.8   Schedule H World Trade Orga nization – Program Support F und ...................................... 89  
Figures 
Figure 1 Budget Evol ution (MCHF) ........................................................................................ 10  
Figure 2 Outstanding Co ntributions (MCHF) ........................................................................... 11  
Figure 3 WTO 2015 Budget by part ....................................................................................... 11  
Figure 4 Key donors to Trust Funds si nce 2000 ...................................................................... 12  
Figure 5 Trust Funds Co ntribution (MCHF) ............................................................................. 13  
Figure 6 2015 Expenditure Staf fing Resource s (kCHF) ............................................................. 17  
Figure 7 Comparison Budget/Expendit ure for regular st aff (kCHF) ............................................. 17  
Figure 8 Distribution of Temp orary Assistance  (kCHF) ............................................................. 18  
Figure 9 Comparison Budget/Expenditure for Temporary Assist ance (kCH F) ............................... 18  
Figure 10 Comparison Budget/Expenditur e for General Serv ices (kCHF) ..................................... 19  
Figure 11 Comparison Budget/Expenditure for Travel and Hosp itality (kCHF) .............................. 20  
Figure 12 Comparison Budget/Expenditure for Implementing Pa rtners (k CHF) ............................ 20  
Figure 13 Comparison Budget/Expenditur e for Capital Expend iture (kCHF) ................................. 21  
Figure 14 Comparison Budget/Expenditure for Financial Expenditure (kCHF) ............................... 21  
Figure 15 Comparison Budget/Expenditur e for Operating Funds and ITC (kCHF) .......................... 22  
Figure 16 Expenditure by Key Outputs and Projects (kCHF) ...................................................... 26  
Figure 17 Allocation of DDAGTF Resources 2015 ..................................................................... 33  
Tables 
Table 1 WTO Inco me (kCHF) ............................................................................................. 13 
Table 2 2015 Miscellaneo us Income (kCHF) ......................................................................... 14 
Table 3 2015 Consolidated WTO Budget Performance (WTO Secretariat and Appellate Body 
Secretariat)  (kCHF) .......................................................................................................... 15 
Table 4 2015 Consolidated  Expenditur e (kCHF) .................................................................... 16 
Table 5 2015 WTO Secretariat Budget Performance (kCHF) .................................................... 16 
Table 6 Proposed Transfers between Se ctions of the 2015 WTO Budget (kCHF) ......................... 23 
Table 7 2015 Appellate Body and its Secretariat Budget Performance (kCHF) ............................ 24 
Table 8 ABOF expe nditure (k CHF) ...................................................................................... 25 
Table 9 Proposed Transfers between Sections of the 2015 Appellate Body and its Secretariat 
Budget (k CHF) ................................................................................................................ 25 
Table 10 Dispute Settlement Expe nditure – Pane ls (kCHF) ..................................................... 26 
Table 11 Dispute Settlement Expe nditure – Appe als (kCH F) ................................................... 27 
Table 12 Information Technolo gy Expenditur e (kCHF) ........................................................... 28 
Table 13 Technical Assistance Related Traini ng Courses by Expend iture Line (kCHF) .................. 29 
Table 14 Security Expenditure (kCHF) ................................................................................. 29 
Table 15 Building Maintenance Expenditure (kCHF) ............................................................... 30 WT/BFA/W/392 
 
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  Table 16 Documents Reproduction and Distribution Expenditure (kCHF) ................................... 30 
Table 17 Human Resources Trai ning Expendit ure (kCHF) ....................................................... 31 
Table 18 Public Forum Expenditure (kCHF) .......................................................................... 31 
Table 19 WTO@20 (kCHF) ................................................................................................. 32 
Table 20 Open Day (kCHF) ................................................................................................ 32 
Table 21 Doha Development Agenda Global Trust F und (DDA GTF) .......................................... 33 
Table 22 Number of participants who successf ully completed an E-Learning course ................... 37 
Table 23 The French Irish Inte rnship Progra mme (TIMM1) ..................................................... 38 
Table 24 Netherlands Trai nee Programme (TNL05) ............................................................... 39 
Table 25 Trade Facilitation Agreement Faci lity (TTFAF) .......................................................... 39 
Table 26 Ministerial Conference – Participat ion of Least-Developed Countries (TMI10) ............... 40 
Table 27 Standards and Trade De velopment Facili ty (TWB01) ................................................ 41 
Table 28 China LDCs and Accessions Programme (TCLAP) ...................................................... 41 
Table 29 Enhanced Integrated Framew ork Executive Secr etariat (T IFES) ................................. 42 
Table 30 Independent Entity – Pre-Shipment Inspection – Deposits (T0013) ............................. 42 
Table 31. Programme Support Fund (EPSF1) ........................................................................ 43 
Table 32 Statement of Financial Position ............................................................................. 46 
Table 33 Statement of Fi nancial Perf ormance ....................................................................... 47 
Table 34 Statement of Changes in Net Assets/Equity ............................................................. 48 
Table 35 Cash Flow Statem ent (Indirec t method) ................................................................. 49 
Table 36 Level of Provisions on  Outstanding Co ntributions ..................................................... 51 
Table 37 Class of Assets ................................................................................................... 52 
Table 38 Cash Situation .................................................................................................... 56 
Table 39 Receivables from Members and Observers .............................................................. 56 
Table 40 Provision for Arrears from Members an d Observers .................................................. 56 
Table 41 Inventor ies per type ............................................................................................ 57 
Table 42 Inventories per storage ........................................................................................ 57 
Table 43 Inventory Adjustments and write offs ..................................................................... 57 
Table 44 Other Receivables ............................................................................................... 57 
Table 45 Prepayments ...................................................................................................... 58 
Table 46 Building .............................................................................................................  58 
Table 47 Equipment ......................................................................................................... 60 
Table 48 Intangible Assets ................................................................................................ 60 
Table 49 Payables ............................................................................................................ 60 
Table 50 Contributions paid in Ad vance by Members and Obse rvers ........................................ 61 
Table 51 Voluntary contributions refundab le to donors (including advances) ............................. 61 
Table 52 Employee Benefits ............................................................................................... 62 
Table 53 Actuarial Assumptions to  define benefi t obliga tions .................................................. 64 
Table 54 Actuarial Assumptions to define be nefit co sts .......................................................... 64 
Table 55 Financial a ssets – Pe nsion .................................................................................... 64 
Table 56 Defined benefit obligation - Pension ....................................................................... 64 
Table 57 History of defined benefit obligation s and experience gains and losses – Pension .......... 65 WT/BFA/W/392 
 
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  Table 58 Defined benefit obligation - ASHI ........................................................................... 65 
Table 59 History of defined benefit obligation s and experience gain s and losses - ASHI .............. 65 
Table 60 Working Capita l Fund St atement ........................................................................... 67 
Table 61 Funds ................................................................................................................ 67 
Table 62 Revenues from  publications .................................................................................. 68 
Table 63 Other Revenues .................................................................................................. 68 
Table 64 Staff Expenditures  including Trust Funds ................................................................ 69 
Table 65 Temporary Assistance  including Trust Funds ........................................................... 69 
Table 66 Financial Perfor mance by se gments ....................................................................... 71 
Table 67 Reconciliation between budg et result and fi nancial result .......................................... 72 
Table 68 Key manage ment personnel ................................................................................. 72 
Table 69 Contributions fr om Members in 2015  ..................................................................... 74 
Table 70 Contributions fr om Observer s in 2015 .................................................................... 77 
Table 71 Interest to be distributed to Member States in 2016 ................................................. 78 
Table 72 Outstanding contributions as  31 December 2015 – Member St ates ............................. 80 
Table 73 Outstanding contributions as 31 December 2015 - Obse rvers .................................... 83 
Table 74 WTO Trust funds - Voluntary contributi ons received in 2015 per donor and by fund ...... 84 
Table 75 WTO Trust funds - Voluntary contributi ons received in 2014 per donor and by fund ...... 85 
Table 76 WTO Trust funds - Balance due to donors as 31 December 2015 ................................ 86 
Table 77 WTO Trust funds - Balance due to donors as 31st December 2014 .............................. 87 
Table 78 WTO Trust funds - Interest earn ed in 2014 ............................................................. 88 
Table 79 WTO Progra m support fund .................................................................................. 89 
Table 80 WTO Program support fund actual expenditure and overheads ................................... 89 
Table 81 Overheads shared wi th other orga nizations ............................................................. 90 
 WT/BFA/W/392 
 
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  1  INTRODUCTION 
1.1.  In accordance with Financial Regulation  32 of the World Trade Organization (WTO), the 
Director-General submits the Financial Performance Report of the WTO for the financial reporting period spanning from 1 January 2015 through to 31 December 2015. The report is presented in 
Swiss Francs (CHF). 
1.2.  This Financial Report comprises three part s (Budget, Trust Funds and Financial Statements). 
The first part provides information on the expenditure for all the activities financed by the WTO 
regular budget. The second part provides information on the expenditure for all activities financed by 
Extra-Budgetary resources in trust funds. The thir d part presents the consolidated (Regular and 
Extraordinary Funds) financial statements of the WTO Secretariat and includes the opinion of the 
External Auditor. 
1.3.  The World Trade Organization (WTO) is the only International Organization dealing with the 
global rules of trade between nations. Its main f unction is to ensure that trade flows as smoothly 
and predictably as possible. 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 prop erly 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. Se ttling disputes is the responsibility of the 
Dispute Settlement Body. 
d. Building Trade Capacity: the WTO aims to help Developing Countries to build their trade 
capacity. A large number of training activities are organized each year for officials from 
developing countries. This is part of a wider Aid-for-Trade Initiative, under which there is 
also the Enhanced Integrated Framework (EIF) and the Standards and Trade Development Facility (STDF). 
e. Outreach: the WTO maintains regular dialogue with non-Governmental Organizations, 
Parliamentarians, other International Organiza tions, the media and the general public on 
various aspects of the WTO and the on-going negotiations, with the aim of enhancing cooperation and increasing awareness of WTO activities. WT/BFA/W/392 
 
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  1.1  Budget 
1.4.  The budget proposal covering the expenses and income for the biennium is submitted to the 
Committee on Budget, Finance 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 biennium. Th e 2015 Budget was approved by the General-Council 
(WT/GC/M/149), on recommendation of the Committee on Budget, Finance and Administration (WT/BFA/139). It amounted to some CHF 197 million and represented the second year of the 
Biennium 2014-2015. 
Figure 1 Budget Evolution (MCHF) 
 
1.5.  The budget is financed from Member States' assessed contributions and miscellaneous income: 
a. The share to be contributed by each Member is based on its international trade (imports 
plus exports) in relation to the international trade of all WTO Members. Assessed 
contributions represent a high percen tage 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 overhead  fees collected for the management of the 
Trust Funds. 
1.2  Outstanding contributions 
1.6.  The amount of outstanding Members' cont ributions over the past 15 years has globally 
remained stable with the lowest level reached in 2014. Between 2014 and 2015 a slight increase can be observed. Members, who have arrears in contri butions for more than one year, are subject to 
administrative measures. There are three categories of administrative measures depending on the 
number of years of outstanding contributions. Memb ers have the possibility to enter into a payment 
plan that suspends the administrative measures. Seven Members were part of such plans at the end of 2015. WT/BFA/W/392 
 
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  Figure 2 Outstanding Contributions (MCHF) 
 
1.3  Budget Breakdown 
1.7.  The WTO Budget is divided into three parts and eight sections by type of expenditure. Part A 
covers personnel related costs, part B covers other costs, and part C the Operating Funds and the 
WTO's contribution to the budget of the International Trade Centre (ITC). 
Figure 3 WTO 2015 Budget by part 
 
 
1.8.  The budget allocated to personnel-related expenditure (Part A) represents around 75% of the 
total budget allocated to the Secretariat. The personnel-related budget includes all expenditures 
linked to salaries of regular, fixed-term sta ff, temporary staff and consultants. Since 2009, 
provisions for accrued benefits such as home leave, education grant, family allowances, separation 
grant and untaken annual leave have been accounted for. The actuarial liabilities towards the WTO 
Pension Plan and for After Service Health Insurance have been assessed since 2010 and are disclosed in the notes to the financial statements, but they are not part of the budget. 
1.9.  The budget under Part B represents 14% of the total budget and mainly includes the 
expenditure for General Services, Travel & Hospitality, Capital and Financial Expenditure. Part C, which represents 11% of the budget, includes the three Operating Funds and the expenditure for the 
International Trade Centre. WT/BFA/W/392 
 
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  1.4  Building capacity 
1.10.  The International Trade Centre (ITC) is the joint technical co-operation agency of the United 
Nations (UN) and the WTO for Trade Related Technica l Assistance (TRTA). Originally created by the 
General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated since 1968 under the 
joint aegis of GATT/WTO and the UN, the latter acting through the United Nations Conference for 
Trade and Development (UNCTAD). ITC is the focal point for technical assistance and cooperation activities in the trade promotion field, within the UN system of assistance to developing countries, as 
affirmed by the Economic and Social Council in its resolution 1819 (LV) of 9 August 1973. 
1.11.  In addition to its regular budget, the WTO obtains voluntary contributions for selected 
programmes that are managed through trust funds.  In 2015, the WTO incurred CHF 21.26 million of 
expenditure financed by trust funds. These programmes are essentially geared at supporting 
activities for technical cooperation and training meant to enable developing and least-developed 
countries to make better use of the WTO and draw greater benefit from the multilateral trading system. 
Figure 4 Key donors to Trust Funds since 2000 
 
Denmark
5% Finland
4%
Germany
7%
Netherlands
9%
Norway
10%
Sweden
12%
United States
6%European 
Union
6%others
41%
 
 
1.12.  The core of the WTO trade related activi ties are channelled through the Doha Development 
Agenda Global Trust Fund (DDAGTF). The DDAGTF acti vities 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 activi ties 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 with larger inflows into ear-marked funds. WT/BFA/W/392 
 
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  Figure 5 Trust Funds Contribution (MCHF) 
3 221181619 20 19 19 20
16 151214
8 9 000
1
0848 711
10 11
1311
1313
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
DDAGTF  Contributions Other contributions
 
 
1.5  Budget and financial results 
1.13.  At the end of each financial period, a propos al is made to the General Council on the use of 
the balance of the surplus account. The balance of the surplus account includes the budgetary 
savings or deficit as well as other income and expenditure which are not part of the budget (rental of meeting rooms, sales of publications, refunds of pr ior year's obligations among others). A positive 
balance on the surplus account can either reduce Me mbers' future contributions, be transferred to 
the Working Capital Fund of the Organization or be  used for any other purpose decided upon by the 
General Council. A deficit  should be covered, to the extent possible, by a transfer from the Working 
Capital Fund. Any uncovered part should be in cluded in the budget of the following year. 
1.14.  The implementation of the International Pu blic Sector Accounting Standards (IPSAS) in 2012 
introduced the financial or accounting result. This financial result includes expenditure not previously 
budgeted and accounted for, relating to pension and After Service Health Insurance liabilities. 
1.15.  In 2015, the WTO budget reported budgetary  savings of CHF 4.6 million and miscellaneous 
income of CHF 1.6 million which led to a positive bu dget result of CHF 6.2 million. However, due to 
the introduction of IPSAS, the budget result became only an intermediate element of the 
performance evaluation whilst the financial result assumed a key role in the performance 
assessment. 
1.16.  For 2015 the final financial result obtained according to IPSAS amounts to a deficit of CHF 6.6 
million and shows an opposite scenario compared to the positive budget result. 
1.17.  The discrepancy between the subtotal result (Budget Surplus) and the grand total IPSAS 
result (Financial Deficit) is mainly due to the negative impact of the actuarial cost of After Service 
Health Insurance benefits of CHF 15 million and other accounting adjustments related to the IPSAS 
implementation such as depreciation or provision for contributions in arrears among others. 
2  BUDGET PERFORMANCE 2.1  2015 Income 
Table 1 WTO Income (kCHF) 
  Budget  Receipts  Balance 
Contributions from WTO Members 195,500  195,575 75  
Miscellaneous Income 1,704  3,251 1,547  
Total 197,204  198,826 1,622  
 
2.1.  The total income of the WTO, excluding trus t funds, amounted to CHF 199 million in 2015. It is 
CHF 1.6 million above the budgeted amount. This is composed of some CHF 75,000 of additional 
contributions received due to the accession of two new Members (Seychelles and Kazakhstan) and 
higher receipts under miscellaneous income detailed below: WT/BFA/W/392 
 
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  Table 2 2015 Miscellaneous Income (kCHF) 
  Budget  Receipts  Balance  
Contributions of Observer Countries 700  652 -48  
Sale of Publications & Royalties 230 301 71 
Trust Fund - Participation to direct costs 180  190 10  
Refund of prior year's expenditure 200 1,989 1,789  
Saving o outstanding obligations 0  34 34  
Rental of meeting rooms & office space 110 108 -2 
Profit/Loss on foreign exchange 0  195 195  
Other 284 -218 -502 
Total 1,704  3,251 1,547  
 
2.2.  Under miscellaneous income, the WTO received  the reimbursement of the budgetary surplus of 
ITC for the biennium 2012-2013 amounting to CHF 1.9 million. This is shown under "Refund of prior 
year's expenditure". Additionally, higher receipts than projected were realized under the sale of 
publications, which is mainly due to the sales during the Ministerial Conference. The WTO also realized a profit on foreign exchange due to  the exchange rate development of the USD. WT/BFA/W/392 
 
- 15 - 
 
  2.2  2015 Consolidated WTO Budget Performance  
Table 3 2015 Consolidated WTO Budget Perf ormance (WTO Secretariat and Appellate 
Body Secretariat) (kCHF) 
Part Section Line  Budget Expenditure Balance 
A Staffing Resources       
  1. Staff Expenditure       
  i) Staff Remuneration 90,532  84,763  5,769  
    ii) Staff Pension & Post-
Employment Benefits 21,960  22,592  -632 
   iii) Staff Health & Invalidity 
Insurance 6,074  5,086  989  
    iv) Staff Family & 
International Benefits 11,244  10,577  667 
   v) Other Staff Expenditure 1,605  4,414  -2,809  
  2. Temporary Assistance       
  i) Short-Term Staff 8,110  11,575  -3,464  
    ii) Consulting 7,933  4,228  3,704  
   iii) Panellists & Appellate 
Body Member Fees 1,124  1,298  -174  
A Staffing Resources Total 148,582  144,532  4,050  
B Other Resources       
   3. General Services       
   i) Telecommunication & Post 1,686  713  974  
    ii) Contractual Services & 
Maintenance 9,649  9,811  -162 
   iii) Energy & Supplies 2,341  1,764  577  
    iv) Documentation & 
Publication 1,681  1,723  -42 
   v) Other / Miscellaneous 244  361  -117  
  4. Travel & Hospitality       
   i) Travel 7,245  5,642    
1,604  
    ii) Hospitality 236  161  74  
  5. Implementing Partners       
    i) Implementing Partners 273  231  42  
  6. Capital Expenditure       
    i) Procurement of Fixed 
Assets 1,510  1,529  -19 
   ii) Rental & Leasing of 
Equipment 1,457  441  1,016  
  7. Financial Expenditure        
   i) Bank & Interest 
Charges   30  69  -39  
    ii) Building Loan 
Reimbursement   1,200  1,200  -  
B Other Resources Total 
  27,551  23,644  3,908  
C Operating Funds and ITC         
  8. Contributions to ITC & Special Reserves       
    i) Contribution to ITC   18,470  18,470  -  
   ii) Appellate Body 
Operating Fund   2,000  2,000  -   
    iii) Ministerial Conference 
Operating Fund 600  600  -  
   iv) Building Renovation 
Fund   -   3,400  -3400  
C Operating Funds and ITC Total   21,070  24,470  - 3,400  
Grand Total        197,204  192,646  4,558  
 
 WT/BFA/W/392 
 
- 16 - 
  
  Table 4 2015 Consolidated Expenditure (kCHF) 
 Budget Actual Balance 
WTO Secretariat 190,699 185,991 4,708 
Appellate Body and its Secretariat 6,505 6,656 -151 
Grand Total 197,204  192,646 4,558  
 
2.3  2015 WTO Secretariat Budget Performance 
Table 5 2015 WTO Secretariat Budget Performance (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources       
  1. Staff Expenditure       
    i) Staff Remuneration 88,055  82,348  5,706  
     ii) Staff Pension & Post-
Employment Benefits 21,440  22,086  -647 
    iii) Staff Health & Invalidity 
Insurance 5,917  4,955  962  
     iv) Staff Family & 
International Benefits 10,948  10,316  632 
    v) Other Staff Expenditure 1,562  4,363  -2,801  
  2. Temporary Assistance       
   i) Short-Term Staff 8,066  11,154  -3,089  
     ii) Consulting 7,933  4,228  3,704  
    iii) Panellists  365  492  -127  
A Staffing Resources Total  144,285  139,943  4,342  
B Other Resources       
  3. General Services       
   i) Telecommunication & Post 1,645  713  933  
    ii) Contractual Services & 
Maintenance 9,631  9,811  -180 
   iii) Energy & Supplies 2,321  1,743  578  
    iv) Documentation & 
Publication 1,671  1,717  -46 
   v) Other / Miscellaneous 217  352  -135  
  4. Travel & Hospitality       
   i) Travel 7,195  5,612  1,583  
    ii) Hospitality 235  161  74 
  5. Implementing Partners       
    i) Implementing Partners 273  231  42 
  6. Capital Expenditure       
    i) Procurement of Fixed 
Assets 1,485  1,529  -44 
   ii) Rental & Leasing of 
Equipment 1,442  441  1,001  
  7. Financial Expenditure        
   i) Bank & Interest Charges 30  69  -39  
    ii) Building Loan 
Reimbursement 1,200  1,200  0 
B Other Resources Total  27,344  23,578  3,766  
Operating Funds and ITC          
  8. Contributions to ITC & Special Reserves       
    i) Contribution to ITC 18,470  18,470  0 
  
 iii) Ministerial Conference 
Operating Fund 600  600  0  
    iv) Building Renovation Fund -  3,400  -3,400  
C Operating Funds and ITC Total  19,070  22,470  -3,400  
Grand Total     190,699  185,991  4,708  
 
 WT/BFA/W/392 
 
- 17 - 
 
  2.3.1  Part A - Staffing Resources 
2.3.  Part A comprises expenditure for regular sta ff related to salary, pension, health insurance, 
death and invalidity insurance, staff benefits and expenditure related to removal, installation and separation of staff. Expenditure for short term staff, consultants and panellists is also included under 
this item. 
Figure 6 2015 Expenditure Staffing Resources (kCHF) 
 
 
2.3.1.1  Staff Expenditure 
Figure 7 Comparison Budget/Expenditure for regular staff (kCHF) 
 
 
2.4.  Under Staff Remuneration, a saving has been realised which is mainly due to a high number of 
vacant posts during the first semester 2015. Since then, a significant number of posts has been filled. The saving under Staff Remuneration also tr anslates into savings under Health Insurance and 
staff benefits, as these elements are closely linked to salaries. 
2.5.  Under Staff Pension and Post-Employment Benefits, the overspending is due to obligatory 
compensation payments to the WTO Pension Plan fo r several voluntary separations. These voluntary 
separations were undertaken in order to liberate necessary posts for the dispute settlement area. WT/BFA/W/392 
 
- 18 - 
  
  2.6.  Under Staff Health and Invalidity Insurance, the projected increase of 4% with respect to the 
medical premiums in 2014 and in 2015 did not materialize and therefore resulted into a saving. 
2.7.  Under Staff Family and International Benefits, the expenditure for Home Leave was lower than 
expected, which is mainly due to the reduction of travel costs due to the overall reduction of the 
reference airfare rate used as a basis for the calculation of the home leave travel cost. An additional 
saving under Education Grant was realised due to a change in staff profile. The expenditure under child allowance also resulted into a saving which is linked to the number of vacant posts. 
2.8.  Under Other Staff Expenditure, which relates to  Removal, Installation and Separation of Staff, 
the overspending is mainly due a write-off for uncollectible US taxes, as well as to separation payments for the voluntary separations. 
2.3.1.2  Temporary Assistance Expenditure 
Figure 8 Distribution of Te mporary Assistance (kCHF) 
 
 
Figure 9 Comparison Budget/Expenditur e for Temporary Assistance (kCHF) 
 
 
2.9.  Under Temporary Assistance, the overspending in mainly due to the short term staff in the 
dispute-settlement divisions (CHF 1.6 million), wh ich includes the project-based dispute settlement WT/BFA/W/392 
 
- 19 - 
 
  lawyers (between 11 and 4 during the year), as we ll as other short term staff. Additionally, this 
overspending includes replacements for staff of leave without pay, on long-term sick leave or for vacant posts. 
2.10.  Under Translation and Interpretation, a saving of CHF 1.4 million was realised under 
Translation. This surplus is due to various elements: every document to be translated is 
systematically outsourced to the most efficient so urce, new technologies such as machine-assisted 
translations have been enhanced and the overall workload has slightly decreased over the last 
years.  Under Interpretation, an additional saving of CHF 0.3 million was generated, which is due to 
a better coordination of the individual interpreter teams and a slight reduction in workload. 
2.11.  Under Consultants, the saving is mainly  due to a saving of CHF 1.3 million under IT 
consultants and a saving of CHF 0.4 million under the Human Resources Training Programme. This is 
partly offset by the over-expenditure of some di visions. Under the IT budget, the saving under IT 
consultants is partly offset by the over-expenditure under short term IT staff and the over-expenditure under Contractual Services. This includes the outsourced IT service centre, which has 
been established in 2015. 
2.12.  Under Panellist Fees, the overspending is due to the continuous increase in dispute settlement 
panels. The expenditure for panellist fees has increased by 35% compared to 2014. 
2.3.2  Part B - Other Resources 
2.13.  Part B comprises the expenditure for general se rvices, travel and hospitality, activities jointly 
funded by the WTO and third parties as well as capital and financial expenditure. 
2.3.2.1  General Services 
Figure 10 Comparison Budget/Expend iture for General Services (kCHF) 
 
2.14.  The saving under Telecommunication and Post is composed of a saving under postal 
expenditure of CHF 0.6 million and a saving und er telecommunication of CHF 0.4 million. The 
reduction of postal charges is due to the paperless strategy of the WTO in order to reduce the 
amount of official documentation being printed and distributed by mail and to increased e-mail 
exchange instead of letters. The saving under telecommunication is the result of closer monitoring and re-negotiated rates for mobile phones. 
2.15.  Under Contractual Services and Maintenance, the overspending on the outsourced IT Service 
Desk (CHF 0.8 million) and building maintenance (CHF 0.5 million) is partly offset by savings under the security outsourcing contract (0.5 million) an d on insurance premiums due to the re-negotiation 
of several insurance policies (0.1 million). WT/BFA/W/392 
 
- 20 - 
  
  2.16.  Under Energy and Supplies, the saving on electricity (CHF 0.3 million) and supplies 
(CHF 0.2 million) is partly offset by the overspen ding on heating and water (CHF 0.1 million). The 
saving under electricity is due to the selection of a new electricity provider and the negotiation of more favourable rates for the WTO. 
2.17.  Under Documentation and Publications a slight over-expenditure has been realised due to 
write-offs of obsolete publications. 
2.18.  Under Other/Miscellaneous, the expenditure under Membership Fees, which is part of the HR 
Training Programme, was slightly higher than budge ted (CHF 0.2 million). However, this is largely 
compensated by savings under consultants related to the HR Training Programme. 
2.3.2.2  Travel and Hospitality Figure 11 Comparison Budget/Expenditur e for Travel and Hospitality (kCHF) 
 
2.19.  The saving under Travel is mainly due to the fact that technical assistance activities could be 
organised at a lower cost than originally projected, which was either due to cost saving measures or 
due to the fact that a lower number of participants than projected attended the courses. Additionally, a saving on the travel of pa nellists of CHF 0.2 million was generated. 
2.20.  Under Insurance related to mission travel, a slight overspending was realized, due to the 
negotiation of a new contract for international SOS insurance. However, this overspending is compensated by a reduction in the WTO medical premiums (under Staff Health Insurance), which formerly included this part of the SOS insurance. 
2.21.  The saving under Hospitality is due to a very strict management of the hospitality budget. 
2.3.2.3  Implementing Partners Figure 12 Comparison Budget/Expenditur e for Implementing Partners (kCHF) 
273 231
Implementing Partners
Budget Expenditure
 
2.22.  The saving under Implementing Partners is due to a reduction of activities related to joint 
programmes with universities in the area of technical assistance. WT/BFA/W/392 
 
- 21 - 
 
  2.3.2.4  Capital Expenditure 
Figure 13 Comparison Budget/Expendit ure for Capital Expenditure (kCHF) 
 
 
2.23.  The overspending under Procurement of fixed assets is due to an overspending of 
CHF 0.3 million on computing hardware. This is partly offset by a saving on security equipment of 
CHF 0.2 million. 
2.24.  Under Rental and Leasing of Equipment, th e saving of CHF 1 million is a result of the 
streamlining measures and the re-negotiation of several rental agreements. Additionally, some re-
negotiated contracts have only started later in the year, thereby increasing the saving. 
2.3.2.5  Financial Expenditure Figure 14 Comparison Budget/Expendit ure for Financial Expenditure (kCHF) 
 
2.25.  The Financial Expenditure includes the reim bursement of the 50-year interest-free loan for 
the new administrative building of the WTO, as well as bank and interest charges. Since the end of 
March 2015, the WTO's main banks are charging negative interest on the current account balances. 
Thanks to continued negotiations with the WTO main banks, the impact of the negative interest could be limited to some CHF 40,000 for 2015. With out these negotiations, the interest charge 
would have been far beyond CHF 100,000. 
2.3.3  Part C - Operating Funds and ITC 2.26.  Part C is related to the contribution to the International Trade Centre and the operating funds 
of the WTO. WT/BFA/W/392 
 
- 22 - 
  
  Figure 15 Comparison Budget/Expendit ure for Operating Funds and ITC (kCHF)  
18,470
60018,470
6003,400
Contribution to ITC Ministerial Conference
Operating FundBuilding Renovation Fund
Budget Expenditure
 
2.27.  The contribution to the International Trade Centre, which is operated jointly be the WTO and 
the UNCTAD, has been fully paid and amounted to some CHF 18.5 million. 
2.28.  The Ministerial Operating Fund (MOF), originally created in 1999, has been established to 
avoid budgetary fluctuations with respect to the expenditure for Ministerial Conferences, which in general takes place every two years. In a non-Ministerial year, the Ministerial Operating Fund is 
replenished to provide funds for the following Ministerial year. The two-years provision under the 
MOF relates to any type of expenditure that the Organization would have had to incur, had the 
Ministerial been held at the headquarters in Geneva, and excludes all expenditure relating to its 
change of venue, which is underwritten by the country hosting the Ministerial Conference. In 2014, 
the provision of CHF 0.6 million was renewed and cred ited to the MOF. In 2015, the yearly provision 
of CHF 0.6 million was credited to the MOF at the beginning of the year. In December 2015, the 10
th 
Ministerial Conference of the WTO was held in Na irobi, Kenya. The expenditure of CHF 1.2 million 
was charged to the MOF, which was therefore fully expensed. 
2.29.  The Building Renovation Fund2 (BRF) was established at the end of 2015 in order to cover the 
foreseeable costs of medium and long-term building and infrastructure projects. The purpose of the 
Building Renovation Fund is to finance the costs of extraordinary but necessary building and 
infrastructure maintenance of the single site, including the costs of future projects, undertaken with a view to introducing improvements  or enhancements to the site. 
2.30.  Following the establishment of the Building Renovation Fund in November 2015, it has been 
replenished with the remaining funds from the Members Transition Operating Fund (MTOF), the remaining surplus of 2011 and availabl e funds from the regular budget. 
2.3.4  Proposed transfers between budgetary sections 
2.31.  In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order to cove r excess expenditure over approved appropriations 
by savings. Authority is sought to increase these appropriations accordingly, as follows: 
                                               
2 WT/BFA/W/359 Building Renovation Fund. WT/BFA/W/392 
 
- 23 - 
 
  Table 6 Proposed Transfers between Sections of the 2015 WTO Budget (kCHF) 
Part Section Budget Expenditure Balance Proposed 
Transfers Revised 
Appropri-
ations Balance 
A Staffing Resources             
  1. Staff Expenditure 127,921 124,068  3,853  -151 127,770 3,702  
  2.Temporary Assistance 16,363 15,874  489 0 16,363 489  
B Other Resources             
  3. General Services 15,485 14,335  1,150  -1,150 14,335 0  
  4. Travel & Hospitality 7,430 5,773  1,656  -1,656 5,773 0 
  5. Implementing 
Partners 273 231  42 0 273 42  
  6. Capital Expenditure 2,927 1,970  957 -632 2,294 325 
  7. Financial Expenditure 1,230 1,269  -39 39 1,269 0  
C Operating Funds and ITC             
  8. Contributions to ITC 
& Special Reserves 19,070 22,470  -3,400  3,400 22,470 0  
Grand Total  190,699 185,991  4,708  -151 190,548 4,558  
 
2.4  2015 Appellate Body and its Secretariat budget performance 
2.32.  The budget for the Appellate Body and its Se cretariat is distinct from the budget of the WTO 
Secretariat. Expenditures incurred by the Appella te Body and its Secretariat are divided into 
permanent and variable costs linked to the numbe r 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 follow the same structure as the one used for the WTO Secretariat. WT/BFA/W/392 
 
- 24 - 
  
  Table 7 2015 Appellate Body and its Se cretariat Budget Performance (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources       
  1. Staff Expenditure       
     i) Staff Remuneration 2,478  2,415  63  
    ii) Staff Pension & Post-Employment Benefits 520  506  15 
   iii) Staff Health & Invalidity Insurance 157  131  26  
    iv) Staff Family & International Benefits 296  261  34 
   v) Other Staff Expenditure 43  51  -7  
  1. Staff Expenditure Total  3,494  3,363  131 
  2. Temporary Assistance       
    i) Short-Term Staff 45  420  -376 
   ii) Consulting 0  0 0  
    iii) Appellate Body Member Fees 759  806  -47 
  2. Temporary Assistance Total  804  1,226  -423  
A Staffing Resources Total  4,298  4,590 -292  
           
B Other Resources         
  3. General Services       
     i) Telecommunication & Post 41  0 41 
   ii) Contractual Services & Maintenance 18  0 18  
    iii) Energy & Supplies 20  21  -1 
   iv) Documentation & Publication 10  6  4  
    v) Other / Miscellaneous 27  9  18 
  3. General Services Total  116  36  80 
  4. Travel & Hospitality       
    i) Travel 50  29  21  
    ii) Hospitality 1  1  0 
  4. Travel & Hospitality Total  51  30  21 
  6. Capital Expenditure       
    i) Procurement of Fixed Assets 25  0 25  
    ii) Rental & Leasing of Equipment 15  0 15 
  6. Capital Expenditure Total  40  0 40  
B Other Resources Total  207  66 141 
C Operating Funds and ITC       
  8. Contributions to ITC & Special Reserves       
    ii) Appellate Body Operating Fund 2,000  2,000  0  
  8. Contributions to ITC & Special Reserves Total 2,000  2,000  0 
C Operating Funds and ITC Total 2,000  2,000  0 
Grand Total 6,505  6,656  -151  
 
2.33.  The expenditure incurred by the Appella te Body and its Secretariat amounted to 
CHF 6.6 million in 2015. It led to a slight  budgetary deficit of CHF 0.1 million.  
2.4.1  Part A - Staffing Resources 2.34.  Part A of the Appellate Body Secretariat comprises the same elements as mentioned for the 
WTO Secretariat above, i.e. all elements linked to  salaries of regular, fixed-term, temporary staff 
and Appellate Body Members. 
2.35.  The overspending under Temporary Assistance mainly includes the expenditure for the 
temporary dispute settlement lawyers as well as other short term staff recruited to assist with the 
high workload A slight overspending has been realized under Appellate Body Member Fees, as the 
budgetary allocation did not foresee the full fundin g of the seventh Appellate Body Member. This has 
been adjusted for the next biennium. WT/BFA/W/392 
 
- 25 - 
 
  2.4.2  Part B - Other Resources 
2.36.  Under Part B, the main part of the expenditure occurred under Supplies, Other/Miscellaneous 
and Travel. The expenditure under Supplies related to paper and office supplies for the Appellate 
Body Secretariat. Other/Miscellaneous included the expenditure for staff training as a part of the HR 
Training Programme, and Travel included the divisional travel expenditure. 
2.4.3  Part C - Operating Funds and ITC 2.37.  The contribution to the Appellate Body Operating Fund (ABOF) which covers for the variable 
costs associated to appeals, mainly daily fees  and travel costs of Appellate Body Members, 
amounted to CHF 2 million in 2015 and was exactly covered by the budget for this item. Due to the 
increasing number of appeals, the allocation had been increased from CHF 1.6 million in 2013 to CHF 1.8 million in 2014 and to CHF 2 million in 2015. 
2.38.   The detail of the expenditure incurred by  the ABOF in 2015 is presented in the following 
table. 
Table 8 ABOF expenditure (kCHF) 
Statement of Appellate Body Operating Fund Expenditure  KCHF 
Opening Balance as at 1 January 2015 1,020  
Contribution from the regular budget of the Appellate Body and its Secretariat 2,000  
Expenditure in 2015:   
Appellate Body Members daily fees -1,029  
Appellate Body Members travel expenditure -562 
Oral hearings -114 
Postage -6 
Total expenditure -1,711  
Closing balance as at 31 December 2015 1,309  
 
2.5  Proposed transfers between budgetary sections 
2.39.  In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order to cove r excess expenditure over approved appropriations 
by savings. Authority is sought to increase these appropriations accordingly, as follows: 
Table 9 Proposed Transfers between Sectio ns of the 2015 Appellate Body and its 
Secretariat Budget (kCHF) 
Part Section Budget Expen- 
Balance Proposed 
Transfers Revised 
Appropriations Balance 
diture 
A Staffing Resources             
   1. Staff Expenditure 3,494  3,363  131 -131 3,363 0 
  2. Temporary Assistance 804  1,226  -423 423 1,226 0  
B Other Resources             
   3. General Services 116  36 80 -80 36 0  
  4. Travel & Hospitality 51 30 21 -21 30 0 
  6. Capital Expenditure 40  0 40 -40 0 0  
C Operating Funds and ITC             
   8. Contributions to ITC & 
Special Reserves 2,000  2,000  0   2,000 0  
Grand Total 6,505  6,656  -151  151 6,656 0 WT/BFA/W/392 
 
- 26 - 
  
  2.6  Expenditure by Key Outputs and Projects 
Figure 16 Expenditure by Key Outputs and Projects (kCHF) 1,087
2,794
8,170
4,548
4,303
2,533 
2,020
1,525
350
0
822,467
3,213
8,091
3,368
3,538
2,787 
1,082
1,176
308
240
74Dispute Settlement -
Panels
Dispute Settlement -
Appeals
IT
Technical Assistance
Activities
Security
Building Maintenance
Documents
Reproduction
HR Training
Programme
Public Forum
WTO@20
Open Day
Budget Expenditure 
 
2.40.  The budget presented by key output and proj ects represents some 42 % of the total budget 
without the budget for regular salaries. The expend iture situation by key output and projects is 
detailed below: 
2.6.1  Dispute Settlement 
 Table 10 Dispute Settlement Expenditure – Panels (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources        
   2. Temporary Assistance i) Short-Term Staff 0 1,451 -1,451  
  iii) Panellists 340  491 -151  
A Staffing Resources Total   340 1,943 -1,603  
B Other Resources       
  3. General Services i) Telecommunication & Post 17 9 8 
   iii) Energy & Supplies 0  0 0  
  4. Travel & Hospitality i) Travel 730 515 215 
B Other Resources Total   747  525 222  
Grand Total   1,087  2,467 -1,380  
 
2.41.  During the year 2015, the WTO received thirteen new requests for consultations. Sixteen panels, covering eighteen disputes, were established by the DSB in the course of the year. A total of 
nine panel reports were circulated in 2015; six of these concerned original disputes and three 
concerned disputes about compliance. Two arbitration awards on the level of nullification or impairment were also circulated. 
2.42.  Under Temporary Assistance, an overspending  of CHF 1.4 million was realized, which includes 
the expenditure for the project based dispute settlement lawyers as well as other temporary staff 
hired to support the dispute settlement divisions.  
2.43.  Under Panellists, an over-expenditure on panelist fees has been realized. The expenditure 
under this position has been constantly increasing since 2012, linked to the increasing number of 
panels in the dispute settlement area. The budgetary allocation for Panellists has been increased by CHF 50,000 in 2014 and by another CHF 50,000 in 2015. 
2.44.  Under Travel, the travel expenditure related to panelists work is accounted for. A saving of 
CHF 0.2 million could be realized under this position. WT/BFA/W/392 
 
- 27 - 
 
  Table 11 Dispute Settlement Expenditure – Appeals (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
   2. Temporary Assistance i) Short-Term Staff 0 420 -420 
    iii) Appellate Body 
Members Fees 759 791 -32  
A Staffing Resources Total   759 1,211 -452  
B Other Resources         
  3. General Services i) Telecommunication & 
Post 35 0 35 
  4. Travel & Hospitality i) Travel 0  0 0  
    ii) Hospitality 0 1 -1 
B Other Resources Total   35  2 33  
C Operating Funds and ITC   35 2 33 
   8. Contributions to ITC  
& Special Reserves ii) Appellate Body 
Operating Fund 2,000  2,000 0  
C Operating Funds and ITC Total   2,000  2,000 0 
Grand Total   2,794  3,213 -420  
 
2.45.  Dispute Settlement activity related to appeals remained on a very high level in 2015 and to date in 2016. Eleven Appellate Body reports concerning seven matters were circulated in 2015. In 
addition, the Appellate Body Secretariat assisted arbitrators in three arbitrations under 
Article 21.3(c) of the DSU. In 2016, to date, the Appellate Body has circulated two Appellate Body 
reports, four appeals are currently pending, and seven further panel reports may be appealed before 
the end of the year. For 2017, the number and especi ally the size of projected appeals is likely to 
increase. This means that more than 17 appeals are to be expected between now and the end of 2017, including possible appeals in the three largest disputes brought to WTO dispute settlement. At 
the same time, appeal records, including submissi ons and panel reports, are getting increasingly 
larger and more complex. This continues the tr end observed in appeals completed between 2010 
and 2015, where the size of reports was almost four  times greater than the size of Appellate Body 
reports issued between 1995 and 2000. 
2.46.  Furthermore, given that the Appellate Body is composed of only seven Members, and given 
the current size of its Secretariat, its capacity to handle multiple appeals is limited. In light of the tight time-frames applicable to appeals and the incr easing size and complexity of appeals, it is 
difficult for Appellate Body Members to work on mo re than two appeals at the same time. Therefore, 
the Appellate Body can usually not deal with more than three appeals simultaneously. This may limit the capacity of the dispute settlement mechanis m, creating a bottleneck for the system. Where 
Members to consider increasing the number of Appe llate Body Members from seven to nine in order 
to increase the capacity of the system. This would lead to a greater need for additional lawyers and 
paralegal staff with the appropriate grading structur e at the Appellate Body Secretariat, which would 
put an additional strain on the resources of the organization. For the immediate future, however, the 
Appellate Body is likely to have less rather than more Appellate Body Members, as WTO Members 
have been unable to agree on the appointment and reappointment of individuals for two positions on 
the Appellate Body. As of June 2016, and until two new Members are appointed, the Appellate Body 
will be composed of only 5 Appellate Body Members.  As a result, the capacity of the Appellate Body 
to hear appeals will be significantly reduced.   
2.47.  Under Dispute settlement expenditure related to appeals, the over-expenditure is, as under 
the panel stage, linked to the expenditure for the project-based lawyers and other short-term staff 
hired to work on appeals.  WT/BFA/W/392 
 
- 28 - 
  
  2.6.2  Information Technology 
Table 12 Information Technology Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
   2. Temporary 
Assistance i) Short-Term Staff 40 628 -588 
    ii) Consulting 2,633  1,354 1,279  
A Staffing Resources Total   2,673  1,982 690 
B Other Resources         
  3. General Services i) Telecommunication & Post 674 270 404 
    ii) Contractual Services  
& Maintenance 3,225  4,224 -999  
    iii) Energy & Supplies 270 149 121 
    v) Other / Miscellaneous 0  0 0  
  4. Travel & Hospitality i) Travel 15 12 3 
    ii) Hospitality 1  0 1  
  6. Capital Expenditure i) Procurement of Fixed Assets 1,180  1,378 -198 
    ii) Rental & Leasing of Equipment 132  76 57  
B Other Resources Total   5,497  6,108 -612  
Grand Total   8,170  8,091 79  
 
2.48.  Around two thirds of the ITSD expenditur e relates to running the day to day business. The 
two largest items in this domain evolved signif icantly in 2015: Within the commodity services 
purchased from UNICC (CHF 1.6 million), the WTO added the provision for the email which was 
outsourced during the year. 2015 was also the first ye ar of service with the outsourced Service Desk 
(CHF 0.9 million under contractual service and maintenance) which provides the technicians for the IT service centre. These two outsourcing efforts were difficult projects which were successful and 
represent important milestones for the future. Other major items in this domain cover hardware 
replacement (CHF 1.4 million for PCs, Servers and Sw itches) as well as the maintenance costs for all 
software and hardware (CHF 1.6 million). The telecommunication costs remained stable. 
2.49.  The last third of the IT expenditure includes  the implementation of new IT solutions. In 2015, 
the IT division worked on more than 30 projects  bringing important services to the public and 
Members such as a new registration platform for Members, which had to be delivered before MC10, 
a new version of iTip Goods and iTip Services as well as a new login for Members on wto.org or a 
Trade Facilitation Agreement facility website. Other projects are still going on and will be completed in 2016 even if most of the work was accomplished in 2015: the GPA site, DDSR, an Agriculture Notifications Website and a new IP Website. Concer ning improvements to internal processes, after 
completing the ERP upgrade, the IT team rolled-out a new reporting tool to analyse financial data. 
The team also worked on a new travel and expe nditure platform which will be rolled-out in 2016. 
Furthermore, the IT team started upgrading the solu tion to distribute software to our 800 PCs and 
finalised a PC virtualization platform, increasing the ability to leverage external translators or IT 
developers. 
 WT/BFA/W/392 
 
- 29 - 
 
  2.6.3  Technical Assistance 
Table 13 Technical Assistance Related Traini ng Courses by Expenditure Line (kCHF) 
Part Section Line Budget  Expenditure Balance  
A Staffing Resources         
   2. Temporary 
Assistance i) Short-Term Staff 6 0 6 
    ii) Consulting 241  164 77  
A Staffing Resources Total   247 164 83 
B Other Resources         
  3. General Services i) Telecommunication & Post 87 17 70 
    iii) Energy & Supplies 0  5 -5  
    iv) Documentation & Publication 33 14 19 
  4. Travel & 
Hospitality i) Travel 4,061  3,145 916  
    ii) Hospitality 50 23 27 
  5. Implementing 
Partners i) Implementing Partners 70  0 70  
B Other Resources Total   4,301  3,204 1,097  
Grand Total   4,548  3,368 1,180  
 
2.50.  The major part of the savings realised under technical assistance activities was due to the fact that several courses were organised at a lower cost than projected due to lower airplane tickets. The 
highest saving was realised under the Advanced Tr ade Policy Courses. One course, the Introduction 
Course for LDCs, has been cancelled due to the fact  that not enough participants have registered. 
2.6.4  Security Table 14 Security Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
   2. Temporary 
Assistance ii) Consulting 0 5 -5 
            
A Staffing Resources Total   0 5 -5 
B Other Resources         
  3. General Services ii) Contractual Services 
& Maintenance 3,913  3,366  547  
    iii) Energy & Supplies 25  18  7  
  4. Travel & 
Hospitality i) Travel 130  107  23  
  6. Capital 
Expenditure i) Procurement of Fixed 
Assets 235  42  193  
B Other Resources Total   4,303  3,533  770  
Grand Total   4,303  3,538  765  
 
2.51.  Under the output Security, savings have been generated under the security outsourcing 
contract and the procurement of security equipm ent. The saving under the security outsourcing 
contract is due to the establishment of the securi ty perimeter in 2014 and to the re-negotiation of 
the security contract. The saving under security  equipment is due to the complete renewal of 
security equipment during the renovation project. WT/BFA/W/392 
 
- 30 - 
  
  2.6.5  Building Maintenance 
Table 15 Building Maintenance Expenditure (kCHF) 
Part Section Line Account Budget Expenditure Balance 
B Other Resources         
  3. General  
Services ii) Contractual Services & 
Maintenance Contractual 
Services 936 907 29 
    Building 
Maintenance 533 1,007 -474  
              
   iii) Energy & Supplies Electricity 625  352 273  
      Water 39 66 -27 
    Gas & Fuel 300  393 -93  
      Supplies 100 62 38 
  3. General Services Total   2,533  2,787 -254  
B Other Resources Total    2,533  2,787 -254  
 
2.52.  Under the output Building Maintenance, over-expenditure was realised under the account building maintenance due to the fact that the WT O became the owner of its premises in 2013 and 
therefore became entirely responsible for the mainte nance of its buildings. Until that date, the FIPOI 
(Fondation des Immeubles pour les Organisations Internationales) has assumed part of the building maintenance. Under Electricity, a saving could be  realised due to the change of supplier of the 
electricity provider and the complete re-negotiation of the contract. 
2.6.6  Documents Reproduction 
Table 16 Documents Reproduction and Distribution Expe nditure (kCHF) 
Part Section Line Budget Expenditure Balance  
A Staffing Resources         
  2. Temporary 
Assistance i) Short-Term Staff 170 235 -65 
A Staffing Resources 
Total   170  235 -65  
B Other Resources         
  3. General 
Services i) Telecommunication & Post 0  0 0  
    ii) Contractual Services & 
Maintenance 90 35 55 
    iii) Energy & Supplies 479  476 3  
    iv) Documentation & Publication 0 1 -1 
  6. Capital 
Expenditure ii) Rental & Leasing of Equipment 1,281  335 945  
            
B Other Resources Total    1,850  847 1,002  
Grand Total   2,020  1,082 937 
 
2.53.  In the area of Documents Reproduction, the major part of the saving has been realised under 
rental and leasing of equipment for reproduction. Due to the streamlining measures introduced in 
2013, the reproduction equipment has been reduced from 6 to 3 machines. An additional saving has been realised under equipment maintenance which is the result of a complete review of all 
maintenance contracts related to reproduction equipment. WT/BFA/W/392 
 
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  2.6.7  Human Resources Training Programme 
Table 17 Human Resources Trai ning Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
  2. Temporary Assistance ii) Consulting 995 560 435 
A Staffing Resources Total     995  560 435  
B Other Resources         
  3. General Services iii) Energy & Supplies 0  1 -1  
    v) Other / Miscellaneous 180 349 -169 
  4. Travel & Hospitality i) Travel 250  218 32  
    ii) Hospitality 100 50 50 
B Other Resources Total    530  617 -87  
Grand Total     1,525  1,176 349 
 
2.54.  In the HR Training Programme 2015, greater emphasis was placed on promoting Peer 
Learning and establishing "Communities of Practice". This took the form of learning networks for (i) 
New Directors; (ii) Managers; (ii) Committee Secretaries; (iii) Administrative Assistants and (iv) HR Administrators. 
2.55.  One third of the budget was devoted to performance management and management 
development, i.e. enhancing the capability of all levels of management in the Secretariat. Key activities were (i) the Upward Feedback exercise and the ensuing coaching programme for directors and managers; (ii) Director-facilitated "Boost of energy" sessions which addressed various aspects 
of management and (iii) Leadership Masterclasses aimed at showcasing the latest thinking and 
research primarily in the area of management and leadership. 
2.56.  Focus was also placed on aspiring managers. New workshops such as "Technical Expert to 
People Manager" served to not only dispel some of the myths that technical experts may have 
regarding "being in charge" but also assisted course participants to gauge their readiness for a managerial role. 
2.57.  Finally, a revised programme for Technical Assistance facilitators was also established in 
2015. This modular programme addresses not just how to deliver training but also new instructional design methods geared at ensuring highly participative and engaging learning experiences for Members. 
2.58.  The expenditure rate under the Human Resources Training Programme 2015 was 77% with a 
saving of CHF 349,000.The saving was mainly realised under consultants, which was partly offset by an overspending under membership and registration fees. 
2.6.8  Outreach 
2.6.8.1  Public Forum Table 18 Public Forum Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
  2. Temporary Assistance i) Short-Term Staff 100 112 -12 
A Staffing Resources Total   100 112 -12  
B Other Resources         
  3. General Services ii) Contractual Services & 
Maintenance 30 9 21  
    iii) Energy & Supplies 30 32 -2 
    iv) Documentation & Publication 60  84 -24  
  4. Travel & Hospitality i) Travel 110 55 55 
    ii) Hospitality 20  13 7  
B Other Resources Total   250 193 57 
Grand Total   350 305 45  
 WT/BFA/W/392 
 
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  2.59.  The Public Forum 2015 offered a total of 90 sessions around the general topic 'Trade Works'. 
The sessions were organized by a wide range of participants, including WTO members, businesses, 
non-governmental organizations, academia, law firms and international organizations and welcomed some 1,300 visitors. 
2.60.  With respect to the expenditure of the public forum 2015, 87% of the budget have been 
spent. The overspending on temporary assistance ha s been offset by the saving realised under the 
travel expenditure of consultants. 
2.6.8.2  WTO 20
th Anniversary 
Table 19 WTO@20 (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources         
  2. Temporary 
Assistance i) Short-Term Staff 0 92 -92 
A Staffing Resources Total   0 92 -92  
B Other Resources         
  3. General Services iii) Energy & Supplies 0  50 -50  
    iv) Documentation & Publication 0 15 -15 
  4. Travel & Hospitality i) Travel 0  69 -69  
    ii) Hospitality 0 6 -6 
  5. Implementing 
Partners i) Implementing Partners 0  8 -8  
B Other Resources Total   0 148 -148  
Grand Total   0 240 -240  
 
2.61.  The 20th Anniversary of the WTO regrouped a number of activities throughout the year 2015, 
which includes several publications and book launches, joint activities with other organisations, video 
productions and the invitation of external speakers. The total expenditure amounted to CHF 240,000 
which was financed by savings in other areas. 
2.6.8.3  Open Day 
Table 20 Open Day (kCHF) 
Part Section Line Budget Expenditure Balance 
B Other Resources         
  3. General 
Services ii) Contractual Services & 
Maintenance 31 10 21 
    iii) Energy & Supplies 21 15 6  
    iv) Documentation & Publication 30 18 12 
  4. Travel & 
Hospitality ii) Hospitality 0  0 0  
  6. Capital 
Expenditure ii) Rental & Leasing of Equipment 0 30 -30 
B Other Resources Total    82 74 8  
Grand Total   82 74 8 
 
2.62.  In 2015, the WTO organised the forth Open Day since its inception in 2009. The Open Day 
2015 was held as a part of the 20th Anniversary activities of the WTO in order to thank Geneva and 
its people for generously hosting the organization over the past 20 years. Some 3,000 visitors were 
welcomed that day. 
2.63.  The budget was on track with a small saving of CHF 8,000. WT/BFA/W/392 
 
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  3  TRUST FUNDS PERFORMANCE 
3.1.  This part describes the activities performe d in 2015 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 purpos es, it is the policy of the WTO to encourage the 
consolidation of most trade-related technical assistance under this global trust fund. 
3.1  Doha Development Agenda Global Trust Fund Figure 17 Allocation of DDAGTF Resources 2015 
 
General WTO-Related 
T.A
42%
Specialized and 
Advanced T.A
22%Academic Support
6%Trainee Programmes 
and Internships
3%Staff Costs and Other 
Programmes
27%
 
 
3.2.  The complete qualitative and quantitative overview of technical assistance and training 
activities undertaken in each year is presented by the Secretariat to the Membership in the spring of 
the following year in a separate report. 
Table 21 Doha Development Agenda Global Trust Fund (DDAGTF)  
Financial Report Summary ('000 CHF)  2015 2014 
Funds as at 1 January  16,522 18,058  
Contributions received 9,105 7,793  
Interest earned  - 18 
Total funds 25,627 25,869  
Total expenditures -9,225 -9,347  
Balance as at 31 December 16,372 16,522  
 
3.3.  The Doha Development Agenda Global Trust fund (DDAGTF) was established in December 2001 
to finance technical assistance programmes and training activities for developing and least-developed countries as well as economies in transition. One of the main purposes for creating 
a global fund was to consolidate the numerous extra-budgetary funds in a single un-earmarked 
fund, so as to provide a stable financial basis fo r the delivery of the TA plan adopted by Members. 
The activities supported by the DDAGTF are intend ed to: enhance institutional and human capacity 
in beneficiary countries; address trade policy issues and concerns; facilitate fuller participation of 
beneficiaries in the Multilateral Trading System; and encourage effective participation in the 
negotiations. 
3.4.  The WTO's technical assistance and training programmes are primarily geared towards 
government officials from WTO Members and acceding countries that are directly responsible for 
WTO-related issues, including the implementation of the Agreements of the 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. 
3.5.  Trade-related technical assistance and training  activities (TRTA) are carried out in accordance 
with a Biennial Technical Assistance and Training Plan ("the TA Plan"), which derives funding from 
both the regular budget and the DDAGTF. WT/BFA/W/392 
 
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  3.6.  The TA Plan identifies the objectives and type s of activities to be delivered by the Secretariat 
for the period concerned. The TA Plan normally fo resees 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 th ree for least-developed countries (LDCs)). 
3.7.  The TA Plans are structured around a progressive learning strategy designed in such a way as 
to: 
a. ensure that the beneficiaries are gradually moving to higher levels of learning; 
b. contribute to sustainable human and institutional capacity-building; 
c. strengthen inter linkages among programmes; 
d. build synergies across subject areas; 
e. assure coherence and cost-effectiveness in the delivery of TRTA. 
3.8.  Increasingly, important elements of result s based management (RBM) are being incorporated 
into the WTO's TA Plans as approved for the biennium 2014-15 and for the 2016-2017. 
3.9.  The WTO undertakes activities in which it has a comparative advantage and that fall within its 
mandate, i.e. WTO Agreements and those areas that are directly part of the DDA negotiations. The WTO co-operates and forms partnerships when possible with relevant international bodies and 
agencies in order to deliver the TRTA efficiently, bearing in mind the specific competencies of the 
partner organizations. 
3.10.  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.  
c. Specialized and advanced technical assistance training – National/regional seminars and 
workshops as well as specialized courses for the initiated and specialists/technicians. The 
focus is on providing in-depth training and enhancing skills that have a direct 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 prov ide an opportunity for junior officials to 
get first hand exposure to the functioning of the multilateral trading system (MTS) and/or 
to provide support to the respective beneficiaries' regional secretariats to the WTO. 
3.11.  In addition to the direct costs of the various training activities, some staff costs related to the 
delivery of the technical assistance ac tivities are funded from the DDAGTF. 
3.12.  TRTA programmes implemented under the DDAGTF in 2015 were based on the Biennial 
Technical Assistance and Training Plan 2014-20 15. The Committee on Trade and Development and 
the Committee on Budget, Finance and Administration  jointly examined and endorsed the Technical 
Assistance and Training Plan 2014-2015. Subsequent to the recommendation of the Committee on Budget, Finance and Administration, the General Council approved a target amount of CHF 14 
million for the DDAGTF for each year of the biennium, corresponding to the estimated costs of the WT/BFA/W/392 
 
- 35 - 
 
  activities contained in the Plan. This represented a decrease from the prior years where the target 
amount was CHF 24 million in 2011, and CHF 18 million in 2012 and 2013. The new target largely reflected the capacity of Members to participat e in, and the WTO to implement, these types of 
activities. 
3.13.  Historically, actual expenditures from  the DDAGTF have been around CHF 18 million. 
However, expenditure levels since 2011 fell considerably below this target. 
3.14.  The DDAGTF is a revolving fund, i.e. the re maining 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. 25% of the following year's target amount to be in the bank by 31 December; 
b. another 50% for an overall 75% by 31 March; and 
c. 100% by the end of June. 
3.15.  This approach is designed to allow smooth and effective implementation, through adequate 
and timely receipt of funds. 
3.16.  In 2015, the actual level of actual fund ba lance started the year ahead of the targeted budget 
due to the carry forward of a strong balance at  the end of 2014 (179% of the targeted budget).: 
a. 179% was in the bank at 31 December 2014; 
b. 129% was in the bank at 31 March 2015; 
c. 135% was in the bank at 30 June 2015; 
d. 152% was in the bank at 30 September 2015; 
e. 178% was in the bank at 31 December 2015. 
3.17.  These percentages correspond to the cumulated amount of contribution during the year 
without taking expenditures into account. 
3.18.   The level of new contributions received in 2015 was ultimately 17% higher than in the 
previous year and the number of donors was stable. 
3.19.  Main activities implemented in 2015, many of which were undertaken in partnership with 
other agencies and bodies, include: 
3.2  General WTO-related techni cal assistance and training 
a. Seven two-month Regional Trade Policy Course s (RTPC). They covered Africa (French and 
English-speaking), Central and Eastern Europe, Middle East, Asia/Pacific, the Caribbean and Latin America. 
b. Nine Geneva-based topic-specific symposia and two regional and sub-regional training 
courses of shorter duration. 
c. One short trade policy courses for Uruguay. 
3.3  Specialized and advanced technical assistance training 
a. Thirty-two topic-specific regional seminars (on Agriculture, Government Procurement, 
Non-Agriculture Market Access, Rules, Sanitary and Phytosanitary Measures, Services, 
Trade and Environment, Trade and Development, Trade Facilitation and Trade-Related 
Aspects of Intellectual Property). 
b. Five intensive courses on trade negotiation skills. 
c. One outreach activity for parliamentarians and civil society. 
d. The establishment or upgrading of Referenc e Centres in Lebanon, Kyrgyz Republic, 
Lesotho, Chad, Guinea, DR Congo, Came roon, Uganda, and Equatorial Guinea. 
3.4  WTO Chairs Programme (Academic support) 
a. One conferences and board meeting. 
b. WTO Grants to seven new WTO Chairs. 
c. The support programme for five doctoral students, instead of seven last year. WT/BFA/W/392 
 
- 36 - 
  
  3.5  Trainee programmes and internships 
a. Seven Regional Coordinator Internships. 
3.6  E-learning 3.20.  In 2015, E-Learning continued to deliver its online courses throughout the year in the three 
official languages 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 Progressive Learning 
System(PLS) and Result Based Management (RBM).  
3.21.  At the beginning of May, the WTO E-Campus website was hacked. Following this security 
breach, access to the online registration, monitoring and interactive activities was unavailable for one month period, which had significant impact on the E-Learning programme results in the first half of 2015.  
3.22.  In 2015, the good quality of the training resulted in an excellent output. The number of 
successful participants increased to 4699 participants (1% increase compared to 2014) and the share of successful participants that obtained a certificate with distinction remained at 35%. The 
statistics highlight the trend toward quality training through E-Learning over the past five years. 
3.23.  In 2015, three new courses were launched: "A short trip through TRIPS", "Copyright in the 
WTO" and "The WTO Dispute Settlement", all of them at level 2 of the specialized path in the PLS. 
The courses in the WTO online programme are also  being updated to include new developments and 
to introduce new E-Learning methodologies. 
3.24.  In 2015, synergies were developed between E-Learning and other WTO TA programmes such 
as the WTO Netherlands Trainee Programmes, The French Irish Internships Programme or the 
Regional Coordinator Internships Programmes (RCPs). Following the successful implementation of a 
joint delivery of online introduction courses by the E-Learning and selected interns from the Netherlands Trainee Programme (NTP) in 2014, eight interns were involved as Assistant Tutors in 
the organization of a number of 2015 online course s. Indeed eight NTP interns worked as assistant 
tutors in the E-Learning Unit, to the benefit of both programmes. Participants' feedback shows that 
the quality of the training material was highly appreciated in 2015.91% of participants rated the 
quality of the course content good or excellent ; 82% of rated the balance between theory, case 
studies and exercises good or excellent. In their feedback, participants suggested shorter and more 
specialized courses covering Trade Facilitation and Trade Policy Reviews. This will be taken into account when developing new materials in the 2016-2017 biennium.  
3.25.  Tailored virtual classrooms for face-to-face activities have been implemented in 2015. An 
Alumni platform for interns was tested with a view to offering Alumni platfo rms to different types of 
face-to-face TA programmes in 2015 - as a follow-up activity and way to develop WTO TA 
communities and networks.  
3.26.  Efforts have been made to develop new courses in partnership with regional institutions. The 
E-Learning team worked in cooperation with the WTO SPS team and provided modules on the WTO 
SPS agreement for a joint course on SPS for the Latin American region in collaboration with the 
Inter-American Development Bank (IADB).The course will be finalized once the IADB inputs on the 
regional dimension are made available. The regional dimension continued to be introduced in 2015 through interactive activities targeted to specific regions or groupings. Two discussion sessions were 
focused on Africa and the LDCs in 2015.These targeted activities were well received by participants; 
more similar activities in the forum with a regional dimension will therefore be launched in 2016.  WT/BFA/W/392 
 
- 37 - 
 
  Table 22 Number of participants who succe ssfully completed an E-Learning course 
Year Number of participants 
2011 2,890 
2012 3,023 
2013 5,645 
2014 7,590 
2015 7,523 
 
3.27.  Africa remains the region with the highes t number of participants, with those from French-
speaking Africa representing 23% of all participants. Participation from Latin-America decreased by 16% and represented 20%. Almost one third of a ll participants are from an LDC. 60% of the 
participants followed courses in English, 22% in French and 18% in Spanish. 
3.7  Evaluation of WTO Trus t funds Activities (TEVAL) 
3.28.  The ITTC coordinated with donors and benefici aries on an external evaluation of the WTO's TA 
activities. A specific fund has been created for this purpose: the TEVAL covers the expenses for 
external evaluation of all WTO trade related technical assistance activities. Its budget for the financial year 2015 was CHF 215,000.  However there were no expenses during this period. Indeed it is expected that these activities will be implemented in 2016. 
3.8  The French Irish Internship Programme (TIMM1) 
3.29.  The French Irish Internship Programme ai ms (i) to enhance the interns' knowledge and 
understanding 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 Missions in participating 
more actively in the daily activities at the WTO. 
3.30.  The interns work in their own country Mission in Geneva and not in the WTO Secretariat for a 
period of up to ten months and represent their respective country on selected WTO committees. This 
hands-on approach is designed to provide them with  exposure to the activities taking place at the 
WTO. 
3.31.  The programme is open to nationals of developing and LDCs as well as economies in 
transition, with a Mission in Geneva. The required qualifications include: (i) a degree in economics, 
trade and/or law at the post-graduate level; (ii) mastery of one of the WTO working languages and preferably a good knowledge of another; (iii) work ing experience in the national administration in 
the trade-related area; (iv)good drafting skills;  and (v) operational familiarity with standard 
software packages.  
3.32.  Interns are selected by the Institute for Training and Technical Cooperation and the Human 
Resources Division of the WTO together with the Mission concerned. The selection criteria are similar 
to those for entry-level positions at the WTO. Special consideration is given to those candidates who will be using their experience upon returning to their country. LDCs and other developing countries 
with low per-capita GNP and those countries with very few staff posted to Geneva Missions are given 
preference. 
3.33.  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. 
3.34.  The general duties might include: 
a. assistance in collection, analysis, interpretation and organization of material of interest to 
the Mission; 
b. assistance in the preparation for meetings of WTO bodies, including attendance and 
follow-up of such meetings; WT/BFA/W/392 
 
- 38 - 
  
  c. assistance in preparation of reports for the capital, documents and communications of 
economic and/or legal nature related to the WTO; 
d. assistance in other tasks undertaken by the Mission. 
3.35.  The evaluation of the intern's work by the Mission takes place at mid-term and at the end of 
the assignment and is shared with the WTO. Furthe r evaluation of the usefulness of this programme 
takes place one year after the end of the internship. 
3.36.  In 2015, this fund financed the costs related to 17 interns from the following countries: 
Burundi, Congo, Côte d'Ivoire, Fiji, Georgia, Lao People's Democratic Republic, Liberia, Mali, Nepal, 
Nigeria, Pakistan, Sierra Leone, Sri La nka, Sudan, Tanzania, Togo and Vanuatu. 
Table 23 The French Irish Internship Programme (TIMM1) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January  1,254 1,405  
Contributions received  808 789 
Interest earned  - 2  
Total funds 2,063 2,196  
Total expenditures  -934 -942  
Balance as at 31 December  1,129 1,254  
 
3.9  Netherlands Trainee Programme (TNL05) 
3.37.  The Netherlands 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 this 
programme for four more years, i.e. until the end of 2012. In 2013 the WTO was given authority to 
continue to expend the remaining balance fr om the prior arrangement and a new multiyear 
arrangement was signed to continue the programme from 2014 to 2017. 
3.38.  The objective of the Programme is to generate tangible, measurable and lasting capacity 
building in areas related to trade policy in least-developed countries, low income countries and comparable poor and vulnerable economies with particular attention given to African countries to 
assist in their economic and social development. 
3.39.  The Programme provides junior public offi cials with the opportunity to learn about matters 
dealt with in the WTO. The target group of cand idates for the Programme are junior professionals 
from trade and development-related ministries, priv ate sector organizations, university graduates, 
participants in trade policy courses and other suitable candidates with adequate knowledge of the WTO. 
3.40.  Trainees spend a total period of up to ten months with the WTO and are expected to complete 
well defined tasks in that period which are relevant for the beneficiary country in terms of capacity 
building and/or in the on-going negotiations. Examples include: 
a. undertaking a 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 Multilateral trading System (MTS); 
g. assisting WTO Divisions in specific tasks. 
3.41.  The candidates are selected by the Secretar iat, from applications and nominations proposed 
by the beneficiary countries. WT/BFA/W/392 
 
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  3.42.  Trainees work full-time at the WTO Secret ariat and carry out tasks and duties assigned to 
them but with no expectation of renewal or extension of the traineeship beyond ten months. Following the completion of their assignments, train ees are required 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. 
3.43.  The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 144 at the end of 2015. 
3.44.  In 2015, this fund financed the costs related to one regional seminar about Clingendael Policy 
Trends and Trends in International Trade, and financed 14 interns from the following countries: Afghanistan, Azerbaijan, Bhutan, Botswana, Camero un, Congo, Haiti, Madagascar, Niger, Rwanda, 
Saint Kitts and Nevis, Uganda, Yemen and Zimbabwe. 
Table 24 Netherlands Trainee Programme (TNL05) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January 1,102 143 
Contributions received 875 1,750 
Interest earned  - 1 
Total funds 1,977 1,894 
Total expenditures -840 -792 
Balance as at 31 December 1,137 1,102 
 
3.10  Trade Facilitation Agreement Facility (TTFAF) 
3.45.  At the end of December 2014 the two previo us WTO Trade Facilitation Trust Fund (TTFNG) 
and Trade Facilitation National Needs Assessments (TTFNA) programs have been closed and replaced by the Trade Facilitation Agreement Facility (TTFAF). 
3.46.  The purpose of the TTFAF is to help developing countries and least developed countries to 
implement the Trade Facilitation Agreement. 
3.47.  The objective is to assist developing countries and LDCs helping them to identify sources of 
existing capacity building assistance, in order to implement the Agreement on Trade Facilitation, and 
provide funding to these countries should they be unable to access existing assistance. The facility 
will complement existing support efforts and enhance their effectiveness, and make support 
available in instances where potential recipients have earlier failed to secure assistance from other 
donors. 
Table 25 Trade Facilitation Agreement Facility (TTFAF) 
Expressed in ('000 CHF) 2015 
Funds as at 1 January 1,304 
Contributions received 3,098 
Interest earned  0 
Total funds 4,402 
Total expenditures -281 
Balance as at 31 December 4,082 
 
3.11  Ministerial Conference – Particip ation of Least-Developed Countries  
3.48.  Since the first WTO Ministerial Conference held in Singapore in 1996, the WTO Secretariat has 
facilitated the participation of Least-Developed Countries (LDCs) in the Ministerial Conferences, 
funded from voluntary contributions pooled 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. In 2015 the 10
th Ministerial Conference took place in Nairobi, 
Kenya. WT/BFA/W/392 
 
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  Table 26 Ministerial Conference – Participat ion of Least-Developed Countries (TMI10) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January - - 
Contributions received  454 - 
Interest earned  - - 
Total funds 454 - 
Total expenditures -454 - 
Balance as at 31 December - - 
3.49.  At the end of a given Ministerial Conference , the remaining balances in favour of the various 
donors are traditionally carried forward and added to the new contributions to be utilized for the 
same purpose in the subsequent Conference unless the donor requests a reimbursement. At the end 
of 2015 after the conclusion of the Ministeria l Conference the funds were fully utilized. 
3.12  Standards and Trade Development Facility (TWB01) 
3.50.  The Standards and Trade Development Facility  (STDF) is a global partnership and trust fund, 
established by the Food and Agriculture Organization (FAO), the World Organization for Animal Health (OIE), the World Bank, the World Health Organization (WHO) and the WTO, that supports developing countries in building their capacity to  implement international sanitary and phytosanitary 
(SPS) standards, guidelines and recommendations as a means to improve their human, animal and 
plant health status and ability to gain and maintain access to markets. Other organizations involved in SPS-related technical cooperation, donors contributing to the STDF and developing country 
experts participate actively in its work
3.The STDF is managed by the WTO. 
3.51.  In line with the STDF's new medium-term strategy, various efforts were undertaken to 
promote collaboration among STDF partners and further strengthen the STDF as a knowledge 
platform and reference point for the exchange of information and experiences and the identification 
and dissemination of good practice. The Secretariat also participated in a number of conferences, training workshops and other information sessions and meetings to promote coherence and synergies in the design and delivery of SPS projects and initiatives. 
3.52.  Throughout the year, a wide variety of proposals and ideas for projects were received and 
discussed with potential beneficiaries, ranging from  one-page concept notes to fully-fledged project 
documents. 18 applications for project preparation grants (PPGs) and twenty-one project 
applications were received. The STDF Working Group approved five PPGs and five projects for 
funding. The total STDF contribution to these proj ects amounted to US$4.2M which was higher than 
the forecast at the start of the year (US$3.2M). All projects were collaborative, innovative and/or 
regional in nature. More and recurrent PPG applicat ions could be expected if bilateral donors would 
be able to increasingly (co-) fund resultant projects. 
3.53.  Four projects were completed and achieved good immediate results. The STDF continued to 
meet its target to dedicate at least 40% of its project resources to LDCs and other low income 
countries (OLICs). Monitoring project implementation, however, remained challenging and 
resource-intensive. 
3.54.  Three projects and four PPG (project preparation grants) were approved to be contracted 
within 12 months. 
                                               
3 Further information on the STDF an d its activities, background document s, etc. is available on the STDF 
website ( http://www.standardsfacil ity.org/en/index.htm ). WT/BFA/W/392 
 
- 41 - 
 
  Table 27 Standards and Trade Development Facility (TWB01) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January 8,607 9,325  
Contributions received 4,558 4,344  
Interest earned  - 10  
Total funds 13,166 13,679  
Contracted commitments -6,506 -6,776  
Expenditures  -4,534 -5,072  
Balance as at 31 December 2,124 8,607  
 
3.13  China LDCs and Accessions Programme (TCLAP) 
3.55.  In July 2011, China funded the establishm ent 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. 
3.56.  The fund received contributions approxim ating CHF 485,000 from China. This helped to 
finance five workshops in 2015: three China round tables on the WTO accession, and two DG 
Consultative Frameworks Mechanisms on Cotton for four African countries. 
3.57.  In accordance with Annex III of the rela ted Memorandum of Understanding (MoU), seven 10-
month internship positions were made available, in comparison to five in 2014. No additional funds were received in 2015; however the ending balance of the fund as of 31 December 2015 was CHF 
385,000. 
Table 28 China LDCs and Accessions Programme (TCLAP) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January 383 477  
Contributions received  485 - 
Interest earned  - -  
Total funds 868 477 
Total expenditures -483 -94 
Balance as at 31 December 385 383 
 
3.14  Enhanced Integrated Framework Executive Secretariat (TIFES) 
3.58.  The Enhanced Integrated Framework (EIF) is an initiative to provide trade-related technical 
assistance to the world's poorest countries as a mean of integrating them fully into the Multilateral 
Trading System. Its Executive Secretariat was established in 2008 and is housed at the WTO. The 
International Bank for Reconstruction and Development, the International Monetary Fund, the International Trade Commission, the United Nati ons Conference on Trade and Development, the 
United Nations Development Programme and the World Trade Organization (collectively "EIF 
Agencies"), EIF Least-Developed Countries ("EIF LDCs") and all donors constitute the partners of the EIF. The EIF is regarded as one of the most successful initiatives under the overall umbrella of Aid 
for Trade. 
3.59.  EIF funding is channelled through two sour ces: the multilateral EIF Trust Fund managed by 
the United Nations Office for Project Services (UNO PS) and bilateral/regional donor support direct to 
the beneficiary countries. The EIF Trust Fund make s an annual allocation to the WTO to cover the 
operating expenditures of EIF Executive Secretariat. WT/BFA/W/392 
 
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  Table 29 Enhanced Integrated Framewo rk Executive Secretariat (TIFES) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January 2,108 1,182  
IPSAS adjustments - - 
Contributions received 2,725 4,863  
Interest earned - 4 
Total funds 4,834 6,049  
Total expenditures  -4,235 -3,941  
Balance as at 31 December 599 2,108  
 
3.15  Independent Entity – Pre-Shipment Inspection – Deposits (T0013) 
3.60.  Independent Entity (IE) is a mechanism for settling disputes between exporters and 
pre-shipment inspection companies/agencies. It is constituted by the WTO, International Chamber of 
Commerce (ICC) and International Federation of Inspection Agencies (IFIA) and is established under Article 4 of the Agreement on Pre-shipment Inspection. 
3.61.  Deposit payments from the following pre-shipment inspection companies have been received 
to cover the estimated costs of an independent revi ew in the event of a dispute as required by the 
terms of reference of the Agreement: Bureau Veri tas International, Cotecna Inspection Limited, 
Inspectorate Griffith Limited, Inchcape Testing Services International Limited. 
3.62.  The fund was never used since its establishment. Table 30 Independent Entity – Pre-Shipment Inspection – Deposits (T0013) 
Expressed in ('000 CHF) 2015 2014 
Funds as at 1 January  88 88  
Interest earned - - 
Total funds 88 88  
Total expenditures - - 
Balance as at 31 December 88 88  
3.16  Programme Support Fund (EPSF1) 
3.63.  Prior to 1999, the 13% overhead fees charged on direct costs incurred in all Trust Funds 
administered by the WTO were being credited to the regular budget as miscellaneous income. Since 
1999, they are being channelled through a special fund created to collect them, the Programme 
Support Fund (PSF). According to its terms of re ference, 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, due to the fact that the WTO does not 
have the means to evaluate and underwrite the administrative support staff costs as direct charges to each extra-budgetary fund. 
3.64.  The WTO may allocate the 13% overhead fees charged to various trust funds that it manages 
with implementing partners. 
3.65.  10 % of the expenses in the PSF are statutor ily credited back to the WTO regular budget as a 
token contribution in recognition of the fact that the Organization's resources are being used for the 
delivery of the technical assistance activities  financed from the extra-budgetary funds. 
3.66.  In 2015, expenses in the PSF corresponded mainly to fixed-term and short-term contracts for 
professional or support staff performing back-o ffice duties relating to the delivery and the 
administration of technical assistance activities. 
3.67.  The fixed-term and short-term from contract s financed PSF included the following positions: 
a. Four fixed term support staff members in the ITTC of which two in Logistics Unit. 
b. Two fixed term support staff members in the Budget and Finance Section. WT/BFA/W/392 
 
- 43 - 
 
  c. Three fixed term professional staff members in the Economic Research and Statistics 
Division. 
d. Two fixed term support staff members in the Information Technology Solutions Division. 
e. One short term support staff members in the Human Resources Division; one short term in 
the Trade Facilitation Section as logistic. 
Table 31. Programme Support Fund (EPSF1) 
Financial Report Summary ('000 CHF) 2015 2014 
Funds as at 1 January 978 998  
Overhead fees collected 2,301 2,301  
Overheads – Shared with Partners -278 -433  
Total funds 3,000 3,005  
Total expenditures -2,087 -2,027  
Balance as at 31 December  914 978 
 WT/BFA/W/392 
 
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  4  FINANCIAL STATEMENTS 
4.1  Management letter of representation 4.1.  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 2015. The 
financial disclosures in this report are intended to fairly present the Organization's financial results in a manner that is complete and understandable. 
4.2.  The Management is responsible for establishing and maintaining adequate internal control over 
financial reporting so as to provide reasonable assurance regarding the reliability of these financial statements for external purposes. This includes policies and procedures that 1) provide for the maintenance of records that accurately and fairly reflect 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. 
4.3.  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 2015. These 
statements have been audited by external audi tors appointed by the General Council, and their 
report appears on the following page. 
 
 
  
(signed) (Signed) 
__________________________________ 
 __________________________________ 
 
 
  Roberto Azevêdo Francesco Perlini  Director-General Finance Officer, Chartered Accountant 
  Administration and General  
  Services Division WT/BFA/W/392 
 
- 45 - 
 
  4.2  Opinion of the external auditor 
BUNDESRECHNUNGSHOF -SUPREME AUDIT  
INSTITUTION OF GERMANY 
 
 Bonn, 31 May 2016 
  
To Mr Roberto Azevêdo, 
Director-General of the World Trade Organization   
 
Dear Sir,  
I have the honour to transmit the financial statements of the World Trade Organization (WTO) for 
the financial year ended 31 December 2015, which we re submitted to me in accordance with WTO´s 
Financial Regulations. I have audited these statements and have expressed my opinion thereon.  
 
Further, in accordance with the Organization´s Financial Rules and Regulations, I have the honour to present my report on the accounts of the WTO for the year ended 31 December 2015.   
Please accept, Sir, the assurance of my highest consideration. 
 Statement of Responsibilities 
 In accordance with WTO´s Financial Regulations, the Director-General is responsible for preparing the financial statements in accordance with the Organisation`s Financial Regulations and 
International Public Sector Accounting Standard s (IPSAS) or International Financial Reporting 
Standards (IFRS) where these standards apply. My responsibility is to express an opinion on these financial statements based on my audit. 
 
Basis of Opinion 
 
I conducted my audit in conformity with International Standards on Auditing (ISA) as adopted and 
expanded by the International Organization of Su preme Audit Institutions (INTOSAI) and issued as 
International Standards for Supreme Audit Institutions (ISSAIs). These standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are 
free from material misstatement. An audit includes examining, on a test basi s, evidence supporting 
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Director-General, as well as evaluating the overall financial statement pres entation. I believe that my audit provides a 
reasonable basis for the audit opinion. 
 Opinion 
 As a result of my audit, I am of the opinion that the financial statements present fairly the financial position as at 31 December 2015, that they have been prepared in accordance with International 
Public Sector Accounting Standards (IPSAS) and WTO´s stated accounting policies, and that the 
transactions have been in accordance with the Financial Regulations.  I have placed an unqualified opinion on WTO’s financial statements for 2015. Please accept, Sir, the 
assurance of my highest consideration. 
  
 
  
 Christian Ahrendt 
 Vice-President of the Bundesrechnungshof  Supreme Audit Institution of Germany 
 External Auditor WT/BFA/W/392 
 
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  4.3  Financial statements 
Table 32 Statement of Financial Position 
Expressed in '000 CHF Note  31/12/2015 31/12/2014  
    
ASSETS    
Current assets    
Cash and cash equivalents 4  120,620   107,708  
Receivables from Members 5  14,406  9,875  
Receivables from Observers 5 590  517  
Inventories 6 388  362  
Other receivables 7  5,595  3,614  
Advances and prepayments 8  5,288  5,236  
Total Current Assets   146,888  127,312  
    
Non -current assets    
Building 9  127,345   118,378  
Equipment 9  15,436  16,925  
Intangible assets 10 515  558  
Pension Plan Assets 14  496,266   487,631  
Total non-current assets   639,562  623,492  
    
Total assets    786,449  750,805  
    
LIABILITIES    
Current liabilities    
Payables 11  6,554  3,505  
Accruals 11  2,771  973  
Assessed contributions received in advance 12  16,310  13,887  
Voluntary Contributions refundable to donors 13  35,670  32,577  
Short-term employee benefits 14  12,644  12,573  
Grant 15 135   
Total current liabilities   74,083  63,515  
    
Non-current liabilities    
Loan  15  56,400  57,600  
Pension benefits 14  855,635  1,209,593  
After Service Health Insurance benefits 14  245,531   342,853  
Other Long-term employee benefits 14  9,262  10,565  
Funds 17  8,149  4,321  
Total non-current liabilities  1,174,977  1,624,932  
Total liabilities   1,249,059  1,688,447  
    
Net assets/equity  -462,610 937,641  
    
NET ASSETS/EQUITY    
Working Capital Fund 16  10,778  10,672  
Actuarial gain/(loss) 14 248,245   -226,093 
Accumulated surplus  -778,030   -770,707 
Provision for right of use - CWR 9  59,798  48,485  
Extra Budget Fund Allocation  -3,400   -  
Total net assets/equity  -462,610  -937,641  
 
  WT/BFA/W/392 
 
- 47 - 
 
  Table 33 Statement of Financial Performance 
  Notes 31/12/2015 31/12/2014  
 REVENUE     
Contributions assessed on Members 18  195,575  195,554  
Contributions of Observers 18 652   689  
Voluntary contributions on trust funds 18  20,517  21,193  
Revenue from publications 18 684   590  
Other revenue 18  2,766   586  
Extraordinary revenue MTOF 18  -  2,527  
WTO Pension Plan revenues 18  19,178  20,543  
     
Total revenue   239,374  241,682  
    
EXPENSES    
Staff Expenditure 19 -134,668 -129,447  
Actuarial cost for ASHI 19 -14,755  -11,497  
Actuarial cost for pension 19 -18,846  -33,775  
Temporary Assistance 19 -20,622 -20,631  
Supplies and other General Service Costs 19 -16,328 -14,687  
Travel & Hospitality 19 -12,832 -12,319  
Implementing Partners 19 -4,727 -5,610  
Contribution to ITC 19 -18,470 -18,470  
Ministerial Conference Operating Fund (variation) 19 600   -600  
Appellate Body Operation Fund (variation) 19 -289  -111  
Depreciation 19  6,340  -5,525  
Provision for contribution in arrears 19 902   -26 
Depreciation of provision for right of use - CWR 19 -11,313  606  
Finance Costs 19  -79  -39 
Write off and Previous year adjustments 19 -1,155  -  
Loss on foreign exchange transactions  19 283   272  
    
Total expenses   -245,959  -251,859  
    
Surplus/(deficit) for the period   -6,586  -10,177  
 
 WT/BFA/W/392 
 
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  Table 34 Statement of Changes in Net Assets/Equity 
WORLD TRADE ORGANIZATION 
AS AT DECEMBER 31, 2015 (CHF) 
Expressed in '000 CHF  WCF Actuarial 
loss 
  Ac. 
Surplus/ 
Deficit  right of 
use 
  BRF 
Budget 
earmark  Total Net 
Assets/ 
Equity 
Balance at 01/01/2014  10,616 155,465  -760,530   -   -   -594,449  
Increase in WCF   56       56  
Actuarial loss   -381,558    -381,558 
Surplus/Deficit for the period     -10,177    -10,177 
   
10,672  -226,093  -770,707      -937,641  
Balance at 31/12/2014  10,672  -226,093  -770,707  48,485 
-   -   -937,641  
Increase in WCF   106       106  
Actuarial loss   474,338      474,338  
Recognition right of surface     11,313   59,798  
BRF Budget allocation      -3,400  -3,400 
Utilisation of pre-IPSAS surplus     -740    -740 
Surplus/Deficit for the period    -6,586    -6,586 
Balance at 31/12/2015  10,777  248,245  -778,031  59,798  -3,400 -462,610  
 
 
 
  
 
 WT/BFA/W/392 
 
- 49 - 
 
  Table 35 Cash Flow Statement (Indirect method) 
WORLD TRADE ORGANIZATION     
AS AT DECEMBER 31, 2015 (CHF)     
Expressed in '000 CHF   
Cash flows from operating activities 2015 2014  
   
Surplus/Deficit from ordinary activities -6,586 -10,177 
Depreciation and amortisation -6,340 5,525 
Right of use - CWR 11,313 -606 
Provision for contribution in arrears -902 26 
(Increase) / decrease in receivables from Members and Observers -3,702 2,878 
(Increase) / Decrease in inventories -26 36 
(Increase) / Decrease in other receivables -1,981 1,943 
(Increase) / Decrease in pension assets -8,635 -46,363 
(Increase) / Decrease in adva nces and prepayments -52 -194 
Increase / (Decrease) in payables 3,049 608 
Increase / (Decrease) in accruals 1,798 -196 
Increase / (Decrease) in cont ributions received in advance 2,423 5,912 
Increase / (Decrease) in voluntary contributions refundable to 
donors 3,093 -1,039 
Increase / (Decrease) in grant 135 0 
Increase / (Decrease) in employee benefits -452,513 453,270 
Increase / (Decrease) in funds 3,828 -1,683 
Increase/ (Decrease) IPSAS Opening Balance -740 0 
Actuarial Gain / (Loss) 474,338 -381,558 
Increase/(Decrease) Extra Budget Allocation -3,400  
Net cash flows from operating activities 15,101 28,382  
   
Cash flows from investing activities   
Purchase of property, plant and equipment -1,139 -2,693 
Purchase of intangible assets 43 -362 
Net Cash flows from investin g activities -1,095 -3,055  
   
Cash flows from financing activities   
Increase of loans -1,200 -1,200 
Increase in Working Capital Contributions 106 56 
Net cash flows from financing activities -1,094 -1,144  
   
Net Increase /(Decrease) in cash and cash equivalents 12,912 24,183  
   
Cash and cash equivalents at beginning of period 107,708 83,525 
    
Cash and cash equivalents at end of period 120,620 107,708  
 
   WT/BFA/W/392 
 
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  4.4   Notes to the financial statements 
4.4.1  Note 1 Accounting policies 4.4.1.1  Basis of preparation 4.4.  The financial statements of the Secretariat of the World Trade Organization (WTO) have been 
prepared on the accrual basis of accounting in accordance with the International Public Sector 
Accounting Standards (IPSAS). Where IPSAS are silent concerning any specific standard, the appropriate International Financial Reporting Standards (IFRS) are applied. 
4.4.1.2  Consolidation 
4.5.  ITC is the focal point for technical assistance and cooperation activities in the trade 
promotion field, within the UN system of assistance to developing countries, as affirmed by the Economic and Social Council in its resolution 1819 (LV) of 9 August 1973. 
4.6.  The International Trade Centre UNCTAD/WTO (ITC) is the joint technical co-operation agency 
of the United Nations (UN) and the WTO for Trade Related Technical Assistance (TRTA). Originally created by the General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated since 
1968 under the joint aegis of GATT and the UN, the latter acting through the United Nations 
Conference for Trade and Development (UNCTAD). At that time, the ventures GATT and UNCTAD 
were both under the United Nation system reporting to the final end to the General Assembly. 
Under these conditions ITC was deemed to be a jointly controlled entity as defined by IPSAS 6 
and 8. 
4.7.  The replacement of GATT with WTO in 1995, determined on one side the establishment of 
WTO as a new International Organization, independent both politically and economically from the 
United Nations System. On the other side, the ro le assumed by ITC across the years, made IPSAS 
principles on consolidations disputable due to th e absence of elements such as economic return, 
power and control over the entity. Being financ ed by 50% from WTO and by 50% from UN, ITC 
might fall under the category of a grant taker organization rather than a joint controlled entity. 
4.8.  IPSAS principles on consolidation have also  evolved in 2015 and have become stricter in 
terms of method of consolidation for jointly controlled entities. Due to this evolution, the 
consolidation of the accounts shall be done only with the equity method. This is problematic due to 
the accounting structure of WTO and ITC and as no participation is recognized among the assets of WTO. 
4.9.  In addition the new principles clarify seve ral aspects such as power of control, economic 
return, material influence among others that pose the WTO in a position for non-consolidating the 
accounts for the following reasons: 
a. The time-frame for publications of the audited accounts of WTO and ITC does not allow a 
consolidation of the current year (2015). This implies that the only data available for ITC 
is that pertaining to the previous year (2014). 
b. ITC in accordance with the other international organizations belonging to the UN system 
derogated from IPSAS 25 employee benefits  and did not discounted the pension 
liabilities which significantly affected the values of the financial statements. 
c. There is no economic return from the WTO contributions to the ITC Regular Budget. 
Therefore ITC cannot be considered an investment. Moreover there is no material control 
over ITC as would be required in order for the relevant IPSAS standards on consolidation 
to apply.  
4.4.1.3  Foreign currency 
4.10.  The functional and reporting currency of  the WTO is Swiss francs (CHF). Transactions 
denominated in foreign currencies (other than assessed contributions from Members and Observers), are converted into CHF using the official  United Nations exchange rate at the date of WT/BFA/W/392 
 
- 51 - 
 
  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. 
4.11.  Foreign exchange gains and losses resulting from the settlement of foreign transactions and 
from the translation at year-end UN exchange rate of monetary assets and liabilities in foreign currencies are recognised in the statement of financial performance. 
4.4.1.4  Segment reporting 
4.12.  A segment is a distinguishable activity or group of activities for which financial information 
is reported separately. WTO activities are classified into two segments: i) regular budget & ii) trust funds. 
4.4.1.5  Use of estimates 
4.13.  The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. The areas where 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. 
4.4.1.6  Cash and cash equivalents 4.14.  Cash and cash equivalents comprise cash in hand and cash accounts at banks. Cash and 
cash equivalents that can only be used for a specific purpose (Working Capital Fund) are 
considered as restricted. 
4.15.  The Cash flow statement is prepared using the indirect method. 
4.4.1.7  Receivables 
4.16.  Receivables are recognised at nominal value less any allowances for estimated irrecoverable 
amounts. Discounting on receivables is not applied unless the effect is significant. 
4.17.  The methodology of provision for assesse d 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 36 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% 
 
4.4.1.8  Advances and prepayments 
4.18.  Discounting on advances and prepayments is  not applied unless the effect is significant. 
4.4.1.9  Inventories 
4.19.  Inventories include the value of publicat ions and souvenirs held for sale and the ones 
distributed free of charge. The cost of acquired publications and souvenirs includes the purchase 
price as well as the transport costs. The cost of publications produced in house includes the costs WT/BFA/W/392 
 
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  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. 
4.20.  An annual physical inventory is conducted for the stock of publications and souvenirs held in 
house and at our distributor storage. At the end of each year, items either damaged or obsolete are written off to reflect net realizable value. 
4.4.1.10  Property, plant and equipment 
4.21.  Property, plant and equipment are recognised at historical cost less any accumulated 
depreciation and impairment loss. 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. Moreover any internally developed software is capitalized if the value exceeds CHF 500,000. Otherwise, it is considered as an expense. 
4.22.  Property is recognised at cost. All classes of equipment have been recognised 
retrospectively, except for furniture. Only furniture equipment acquired since 2007 has been 
accounted for in the opening balance. The Organization is using for this class of asset the transitional provision (IPSAS 17, par. 95). The Orga nization has also not been able to recognised 
the directly attributable costs of an equipment (such as consulting costs) when they were 
separately invoiced. 
4.23.  In kind contributions relating to property , plant and equipment, such as the donated surface 
right to use the land (droit de superficie) on which WTO headquarters stand, are recognised in the 
financial statements and disclosed in the notes. 
4.24.  Depreciation is provided for property, plan t and equipment over their estimated useful life 
using the straight line method, except for land which is not subject to depreciation. In the context 
of the building project, buildings and eq uipment are depreciated since 1 January 2013. 
4.25.  The useful of major classes of assets have been estimated as follows: Table 37 Class of Assets 
Class Estimated useful life (years) 
CWR Building 99 years 
Building structure 50 years 
Building carpentry 25 years 
Waterproof system, restoration, elevator 15 years 
Furniture 10 years 
Reproduction equipment 5 years or 10 years 
Audio-visual equipment 10 years 
Computer equipment 4 years 
Security equipment 10 years 
Artwork 10 years 
Windows and Heating 25 years 
Vehicles 5 years 
 
4.26.  Damaged assets are impaired at year-end based on information received. 
4.27.  Heritage assets such as donated work of arts are not recognised in the financial statements. WT/BFA/W/392 
 
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  4.4.1.11   Intangible Assets 
4.28.  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. 
4.29.  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. 
4.30.  Copyrights, preproduction costs for publications, WTO website costs and internal and 
external development costs for databases are not recognised as intangible assets. 
4.4.1.12  Employee benefits 4.31.  WTO employee benefits are classified as follows: 
a. Short-term employee benefits are due to be settled within 12 months of the reporting 
date and are measured at their nominal 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. 
4.32.  The actuarial liability is the present value of the defined benefit obligations (relating to 
pension and ASHI) at the reporting date. Similarly, the fair value of the WTO pension fund is 
shown among the non-current assets of the Financ ial Statements. The assets of the Pension Plan 
shall be used totally and exclusively for the purposes of the Pension Plan's Regulations. 
4.33.  The WTO Pension Plan is a separate entity  with its own management, governance processes 
and reporting mechanisms to the General Council. It produces its own financial statements that 
are reported and approved by the General Council , independently from the financial statements 
from the WTO Secretariat. 
4.34.  The benefit obligation is calculated annually by an independent actuary using the projected 
unit credit method. The actuarial gains or losses arising from experience adjustments and changes in actuarial assumptions are recognized immediately in net assets. 
4.35.  Post-employment benefits include also removal indemnities for international staff and 
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. 
4.4.1.13  Provisions and contingent liabilities 
4.36.  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. 
4.37.  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. 
4.4.1.14  Tax 
4.38.  The WTO assets, income and other property are exempt from all direct taxation. WT/BFA/W/392 
 
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  4.4.1.15  Revenue recognition 
4.39.  Revenue from assessed contributions as well as voluntary contributions are recognised as 
non-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. 
4.40.  Revenue from exchange transactions (mainly sale of publications, interests earned and 
rental of meeting rooms) is recognised as goods or services are delivered. 
4.41.  In kind contributions of services are not recognised in the financial statements. 4.4.1.16  Expenses 
4.42.  Under accrual accounting, expenses are reco gnised at the time of delivery of goods or 
services by the supplier or service provider. 
4.43.  The WTO signs agreements with partners to implement trade related technical assistance 
activities. Recognition is based on the delivery 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. 
4.4.2  Note 2 Financial risks policy 
4.44.  The Organization is exposed to limited financial risks, in accordance with its Financial 
Regulations and Rules (WT/L/156/Rev.3): 
a. Counterparty risk: 
 The conservation of capital is the primary objective when investing funds. In order to 
limit counterparty 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 rate ri sk is reduced by maintaining most funds in 
CHF, the Organization's base currency. The holding of funds in other currencies is 
permitted only to cover actual or anticipated commitments in those currencies. 
Speculation on exchange rates is strictly forbidden. 
c. Interest and market risks: 
 Interest and 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 maintain ed 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. WT/BFA/W/392 
 
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  4.4.3  Note 3 Changes in the financial statements and relevant events in 2015 
4.4.3.1  Change of actuarial assumptions 4.45.  The valuation of the post-employment bene fit obligations should reflect the term of the 
expected payments under the WTOPP and ASHI plan s. The volatile evolution of their actuarial 
valuations during the last few years and their significant impact on the financial results of this 
Organization demands control measures of the current actuarial practices and consideration of different actuarial assumptions.  
4.46.  In the context of highly volatile mark ets, the current practices of mark-to-market 
accounting approach for the discount rate could lead to a misconception of the value of the long term liabilities behind the WTOPP and ASHI plans where actuarial gains or loss notably impact the overall related liabilities. For this reason the meth od of calculation of the discount rate applied to 
Pension and ASHI was reviewed in 2015 in order to reduce such volatility. 
4.47.  The new method applied in the financial statements 2015 is in compliance with the 
reference interest rate for Swiss pension plans,  which is determined by the Swiss Chamber of 
Pension Fund Experts (CSEP). This is calculated as: two thirds according to the average 
performance of a representative pension fund index over the last 20 years, and one third according to the yield on ten-year Federal bonds less a margin of 0.5%. The result is rounded 
down to the nearest 0.25% and would never be below the return of 10-year government bonds. 
4.4.3.2  Introduction of negative interests 4.48.  On the 15 January 2015, the Swiss National Bank (SNB) announced that it discontinued its 
strategy of holding a minimum exchange rate of 1.20 Swiss francs (CHF) per Euro. At the same 
time, it announced that it was lowering the interest rate by 0.5 percentage points, to −0.75% on 
certain account balances exceeding a given balance threshold. 
4.49.  As of 1 April 2015, the Secretariat's main banking services provider introduced an interest 
rate of -0.75% on the Secretariat's bank accounts in CHF for account balances exceeding 
CHF 50 million.  
4.50.  Due to this decision no interest was available for distribution to Members, as had been 
envisaged by the early payment interest scheme. 
4.4.3.3  Building Infrastructure Contract 4.51.  The building infrastructure contract, signed in August 2013 was registered at the "register 
fonciere" on the 8
th August 2015. From this date onwards, for a period of 99 years, the WTO has 
exclusivity and right of use of the Centre William Rappard. 
4.52.   In accounting terms this event has generated a reverse of the accumulated depreciation for 
the Building Structure and a new calculation of the depreciation that begins on the date of the 
registration. Similarly the accumulated provision for the right of use (droit de superficie) was 
reversed and its depreciation restarted from the date of registration. WT/BFA/W/392 
 
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  4.4.4  Note 4 Cash and cash equivalents 
Table 38 Cash Situation 
Cash and cash equivalent 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Cash in hand 10 10 
Cash at bank by currency 120,610 107,697 
Total Cash and Equivalent 120,620  107,707  
CHF 115,076 103,516 
USD 4,425 3,027 
EUR 844 962 
GBP 264 192 
Total cash and cash equivalent 120,620  107,708  
 
4.53.  The bank balance in CHF comprises restricted  funds held by the Working Capital Fund for an 
amount of kCHF 10,710. 
4.54.  The increment in 2015 is mainly due to a ca sh deposit in CHF in the Credit Suisse and UBS 
Bank Account. 
4.55.  Bank accounts are held with UBS, Crédit Suisse and the Swiss Post Finance Bank. The WTO 
negotiates interest rates on bank account deposits with the banks in order to obtain competitive 
rate. 
4.4.5  Note 5 Receivables from Members, Observers and Donors 
4.56.  Receivables from Members and Observers ar e classified as receivables from non-exchange 
transactions. They include receivable assessed contributions as well as receivable advances due to the Working Capital Fund. The details for due contributions from Members and Observers are 
presented in schedules C and D, respectively. 
Table 39 Receivables from Members and Observers 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Receivable Assessed Contributions Members 22,880  19,251  
Receivable Advances due to WCF 68 68 
Provision Contributions -8,542  -9,444  
Total  14,406  9,875  
Receivable Assessed Contributions Observers 590  517 
Grand Total  14,997  10,392  
4.57.  A provision for outstanding contributions is calculated based on the aging of the 
contributions. 
Table 40 Provision for Arrears from Members and Observers 
Expressed in 
'000 CHF Provision for 
outstanding 
contributions at 31 
December 2014 Adjustment of the 
provision during 
2015 Provision for 
outstanding 
contributions at 31 
December 2015 Amounts 
written off  
Members 9,078  -998 8,080 830  
Observers 366 96 462 0 
Total  9,444  -902  8,542 830 
 
4.58.  As of 31/12/2015, 7 members with outstandin g contributions of 3.5 MCHF are following the 
payment plan approved by the General Council in 2012. 
4.59.  Compared to the previous year, 1 Member state with an outstanding contribution of 
1.0 MCHF has not respected the instalments of the payment plan and 1 Member state had the payment plan annulled as of 1 January 2015.  WT/BFA/W/392 
 
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  4.4.6  Note 6 Inventories 
Table 41 Inventories per type 
Inventories  
Expressed in '000 CHF 31/12/2015 31/12/2014 
WTO publications and co-publications 306 321  
Non WTO publications 34 36 
Souvenirs 48 5  
Subtotal inventories (including adjustments and write offs) 388 362 
 
Table 42 Inventories per storage 
Inventories  
Expressed in '000 CHF 31/12/2015 31/12/2014 
External WTO Storage 128 152 
Internal WTO Storage 260 210  
Subtotal inventories (including adjustments and write offs) 388 362 
 
4.60.  Inventories consist of WTO publications, co-publications, other non-WTO publications and souvenirs held for sale and the ones distributed free of charges. Starting in 2011, a part of the 
WTO publications and co-publications inventory is held at a third-party distribution storage facility. 
Table 43 Inventory Adjustments and write offs 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Adjustments 4 4  
Write offs -33 -6 
Total Adjustments and write offs -29 -2  
 
4.61.  The adjustment corresponds to the reconcil iation between the value of the inventory in the 
financial accounts and the value of the actual physical inventory. The amount of adjustment is about 1% of the total inventory and well within industry standards ranging around 5% of 
discrepancy. 
4.62.  Write-offs relate to obsolete inventories. The write off policy has been revised in 2011. 
Obsolete publications are identified by making a title by title analysis based on statistics of the last three years sales and distributions. 
4.4.7  Note 7 Other receivables 
Table 44 Other Receivables 
Expressed in '000 CHF 30/12/2015 31/12/2014 
Recoverable United States taxes 4,335 2,971  
Recoverable Swiss taxes 35 14 
Various other receivables 1225 630  
Total other receivables 5,595 3,614  
 
4.63.  Other receivables include receivables from non-exchange transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables". 
4.64.  Staff remunerated by the Organization is exempted from income taxes. However, the United 
States requires its citizens and residents to file and pay tax worldwide. When a staff member is obligated to pay income tax to the United States, the WTO 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/392 
 
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  4.65.  As an International Organization, the WTO is exempted from Swiss taxes such as value 
added tax (VAT), federal stamp duty and tax on th e interest earned on investments. Annually the 
WTO Secretariat files a tax reimbursement claim to the Swiss authorities. 
4.66.  The method of reimbursement applied by the United States Government is different from 
the method applied by the WTO Secretariat. The latter has been validated by the Administrative 
Tribunal of the International Labour Organization. The difference in reimbursement methods results in an non reimbursable amount of CHF 236,447 for 2015. In 2014 the amount was 
CHF 98,194. The difference is due to the variatio n of the part of the non-WTO salary of the 
American staff, which fluctuates from year to year. 
4.67.  In 2015 the WTO wrote off 370,153 CHF (equivalent of 359,372 USD) of US taxes claim. 
The amount includes USD 100,176 in administrative costs such as external tax and legal advice to 
the Organization in order to administer the agreement and a reimbursement to once-off payment 
amount of USD 259,196 for taxes associated with a lump-sum distribution.  
4.68.  While the WTO made claims for these amounts, it was not with high expectations of actually 
being reimbursed due to the terms of Tax Reimbursement Agreement (TRA). Nonetheless, the 
WTO has consistently attempted to claim reim bursement dating back to 2009, but without 
success. In 2015 the WTO was informed formally by the US authorities that the amounts were not 
considered allowable under the terms of the TRA. 
4.4.8  Note 8 Advances and Prepayments Table 45 Prepayments 
Expressed in '000 CHF 30/12/2015 31/12/2014 
Staff advances for salary, travel and education grant 3,060 3,284  
Advances relating to Trust Funds activities 1,469 1,137  
Other advances 759 815  
Total 5,288 5,236  
 
4.69.  Staff advances made for education grants increased by kCHF 14.7, representing a total of kCHF 2,792 in 2015. Advances for home leave decreased by kCHF 232 and represent kCHF 242 of 
the total of staff advances in 2015. The remaining amount refers to travel advance and salary 
advance. 
4.70.  Advances relating to Trust Funds activities include advances paid to hotels where the 
activities will be held as well as advances to implementing partners. This amount increased by 
kCHF 332. 
4.71.  Other prepayments correspond to payments made to suppliers, consultants and insurance 
4.4.9  Note 9 Property, Plant and Equipment 
Table 46 Building 
Expressed in '000 CHF Building 
Cost at 31/12/2014 134,499 
Additions 45 
Cost at 31/12/2015 134,543 
Accumulated depreciation 01/01/2015 16,121 
Depreciation 2,593 
Reversed Accumulated Depreciation -11,515 
Accumulated depreciation at 31/12/2015 7,199 
Net carrying amount at 31/12/2015 127,345 
 
4.72.  On the 7th August 2015 the infrastructure contract signed between WTO and the Swiss 
Authorities concerning the CWR building was registered at the "register fonciere de Geneve". This registration defines the final 99 years' time-frame  of ownership of CWR premises and imposes on WT/BFA/W/392 
 
- 59 - 
 
  one side an exceptional reverse of the accumulated depreciation booked for the period 1995-2014 
(19 years) and on the other side a new process of  depreciation that begins with the date of 
registration.  
4.73.  The agreement imposed restrictions on the re sale value of the CWR building. Therefore, also 
the corresponding provision for the right of use of the building has been reversed for the period 
1995 -2014 and re-established and depreciated with a the new starting date . This provision of right of use is reported among the equity of the WTO. 
4.74.  The WTO has also a number of artwork dona ted by governments, artists and other partners. 
The Government of China has offered the WTO a garden that was completed in 2012 and the Government of Italy donated and restored a fount ain at the end of 2014. The value of these works 
(also called heritage assets) is not recognised in the financial statements. 
4.75.  The CWR and the new administrative building belong to the WTO. At the end of 2012, final 
reception for both the renovation work of the CWR (financed by the Swiss Authorities) and the construction work of the new building was completed. No revaluation of the carrying amount 
occurred in 2015.  
4.76.  With the conclusion of the project of Co mmon Facilities in October 2014 financed by the 
MTOF, no more working is in progress and all assets are accordingly capitalized. 
4.77.  The WTO has benefited from in-kind contributi ons relating to the use of different buildings: 
a. Free right to use the Salle William Rappard, where the General Council usually meets. This 
conference centre is owned by the Canton of Geneva and maintained by the Fondation des 
Immeubles pour les Organization Internationales (FIPOI). 
b. Free right to use the Villa Rappard and two small neighbouring villas. These villas are property 
of the Canton of Geneva. The WTO bears the maintenance costs. 
c. Free right to use an underground parking located in the neighbourhood Sécheron with 
400 parking spaces. 
4.78.  As part of the building project, artwork and decoration were acquired and recognised at 
their purchase prices and are subject to depreciation. WT/BFA/W/392 
 
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  Table 47 Equipment 
Expressed in 
'000 CHF   Furniture   Audio 
visual   Security  Reproduction   IT   Vehicle   Total  
 Cost at 
31/12/2014  9,231 7,692 3,064  1,612  2,585 366 24,549  
 Additions 58 8 7 26 764 - 864 
 Disposals     -  - 124 -124  
 Cost at 
31/12/2015  9,289 7,700 3,070  1,638  3,350 242 25,289  
Accumulated 
depreciation 31/12/2014  1,711 1,208 1,121
 1,304  2,065 216 7,625  
Depreciation  925 771 305 58 257 37 2,353  
 Disposals       -124 -124  
Accumulated 
depreciation at 
31/12/2015  2,636 1,979 1,426  1,362  2,322 129 9,854  
 Net carrying 
amount at 31/12/2015  6,654 5,721 1,644
 276 1,027 113 15,436  
 
4.4.10  Note 10 Intangible Assets 
Table 48 Intangible Assets 
Expressed in '000 CHF Acquired 
Software  Internally 
developed 
Software  Total Intangible 
Cost at 1/1/2015 545  466 1,011  
Additions 186  186 
Disposals   - 
Cost at 31/12/2015 731 466 1,196  
Accumulated depreciation 1/1/2015 173  279 452 
Depreciation 113 116 229 
Accumulated depreciation at 
31/12/2015 286 396 681 
Net carrying amount at 31/12/2015 445 70 515 
 
4.79.  The acquired software that is being depreciated pertains to informatics tools for financial 
data extraction, for the internet application server  of the ERP System and for conference activities. 
4.80.  No internally developed software was implemented and capitalized in 2015. 4.4.11  Note 11 Accounts payable 
Table 49 Payables 
Expressed in '000 CHF 31/12/2015 31/12/2014  
 Suppliers  5,892  3,050  
WTO staff, consultants and interns 649  383  
 Other payables   13  72  
Total payables 6,554 3,505  
 Accruals  2,771  973  
 Grand Total  9,325  4,478  
 
4.81.  Payables to suppliers and staff at year-end reflect amounts committed in 2015 for which settlement has been effected in 2016.  
4.82.  Accruals represent the amount of goods received and services delivered during the period 
for which the invoices were not received at the reporting date. WT/BFA/W/392 
 
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  4.4.12  Note 12 Assessed cont ributions paid in advance 
4.83.  Contributions paid in advance by Members and Observers at 31 December 2015 consist of 
advance payments received and interest earned and due to Members. 
Table 50 Contributions paid in Ad vance by Members and Observers 
Expressed in '000 CHF 31/12/2015  31/12/2014 Reference 
Contributions paid in advance by Members and Observers 16,233  13,754 Schedule 
C and D 
Interest earned through the Early Payment Encouragement 
Scheme 77 132 Schedule B 
Total contributions paid in advance by Members and 
Observers 16,310  13,886 
 
4.84.  The General Council implemented a system to encourage early payment of contributions. 
The annual interest earned on the current year's contributions is refunded to Members on the basis of calculations that take into account the amount and date of payment. The interest earned by a Member in a given year is deducted from the Member's contribution due two years later. The 
interest earned by members in 2014 was CHF 76,927. In 2015, due to the establishment of 
negative interest rate by the Swiss National Ba nk, members gained no interests. On a contrary, 
negative interest was covered by the WTO regular budget and not charged to the members. 
4.4.13  Note 13 Voluntary contri butions refundable to donors 
Table 51 Voluntary contributi ons refundable to donors (including advances)  
Expressed in '000 CHF 2015 2014 
Balance due to donors as at 31 December 2014 32,625  33,616  
Contributions paid in advance for 2015 activities -24  -928 
Voluntary contributions received in 2015 22,324  21,132  
Reimbursement in 2015 -125  -25 
Interests on investments 0  33  
Expenses incurred on Trust funds (note 20) -20,517  21,227  
Balance due to donors as at 31 December 2015 34,283  32,601  
Contributions paid in advance for 2016 activities 1,387  24 
Balance due to donors as at 31 December 2015 (including advances) 35,670  32,625  
Contributions returned to donors 0 -48 
Final balance due to donors as at 31 December 2015 35,670  32,577  
 
4.85.  In accordance with IPSAS 23, contributions from donors subject to conditions have been 
classified under deferred revenue . Revenue is recognised up to the amount expensed in the 
period, corresponding to the completion of the specified performance. 
4.86.  In accordance with IPSAS, expenses are no longer recognised based on commitments but 
rather on accruals. Voluntary contributions refundable to donors include commitments made to 
third parties regarding trust fund activities. WT/BFA/W/392 
 
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  4.4.14  Note 14 Employee benefits 
Table 52 Employee Benefits 
Expressed in '000 CHF  31/12/2015 31/12/2014 
 Short-term benefits   Dependency allowance  50  50  
   Untaken annual leave  9,150  9,167  
   Education grant  1,395  1,389  
   Home leave  1,011  899  
   Separation grant  199  229  
   Provision for Bonus  839  839  
Subtotal    12,644  12,573  
 Long-term benefits   Removal indemnity  1,199  1,691  
   Separation grant  8,063  8,874  
 Post-employment benefits   ASHI  245,531  342,853  
   Pension   855,635  1,209,593  
 Total    1,123,071  1,575,584  
 
4.87.  Employee benefits liabilities are determined by professional actuaries or calculated by the WTO based on personnel data and past payment experience.  
4.88.  Short-term employee benefits include dependency allowance, untaken annual leave, 
education grant and home leave: 
a. The provision for dependency allowance is established to cover financial support for the 
eligible dependants of staff. 
b. The provision for untaken annual leave corresponds to the total leave balance due to 
regular and temporary staff at the end of the year. According to staff regulations, the maximum number of accumulated annual leave is 60 days, which corresponds to two 
years entitlement. Annual leave is accounted for using the FIFO method. 
c. The provision for education grant is established to cover the expenditure associated with 
the first four out of ten months of the school year corresponding to the closing period 
2015 (from September to December) that will only be settled at the end of the school 
year in the following summer.  
d. The provision for home leave is established to cover the amount due to eligible staff in a 
given year for their home leave. Staff entitled to home leave may return to their home 
country every two years. The rules to calculate the home leave estimation for all the permanent international staffs are:  
i. the date of the last Home Leave (HL) is considered as the year during which the 
home leave has been taken. 
ii.  A staff member who has not taken HL for 2 years, i.e. since 2013, is entitled to 
100% rights.  
iii. A staff member who has taken home leave in 2014 is entitled to half of the right at 
the end of 2015.  
iv.  A staff member who has taken home leave in 2015 has no rights at the end of 2015.  
v.  The amount of the last home leave paid is  the estimation for the cost of the home 
leave. However, an average home leave amount CHF 8,163.07 has been calculated for the people who assumed duty in 2014 or 2015. No provision for staff that entered before 2013 and never asked for home leave.  WT/BFA/W/392 
 
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  4.89.  At the end of their employment contract, eligible staff receive separation grant and 
international staff going back to their home countries are 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 for the international leaving staff, of 
CHF 12,191.84. This average unit cost is based over the past six years. 
4 
b. 58.88% of international staff has been returning to their home country (over the past 
fifteen years). 
c. A retirement age of 65 years. The retirement age has been modified from 62 to 65 years 
in 2015 in view of expected life expectancy.  
d. The amount of the median salary and its esti mated inflation growth are based on the pay 
scale of the salaries in 2010 due to the fa ct that the majority of employees are 
remunerated on the basis of this particular salary scale. There is no increment rate for the employees who are in the maximum grade. The estimated adjustment for the 
median salary comprises of the increment rate.  Other assumptions such as the discount 
rate, working time and inflation rates are the same as the ones used for the actuarial valuation for pension and ASHI.  
4.90.  The rules to calculate the long term separation indemnity are:  
a. Local staff with more than 10 years of serv ice (date of fixed term) without dependant 
are entitled to one month of median salary. 
b. Locals more than 10 years of service with de pendant are entitled to two months of the 
median salary. 
c. International members of staff with more than  10 years of service, are entitled to the 
same benefits as local staff. 
d. International members of staff who have less than 10 years of service, are not entitled 
to receive long term separation indemnity if they remain in Geneva after separating from the WTO. 
e. International members of staff returning to their home country and who have no 
dependants are always entitled to two months of the median salary regardless of time in service. 
f. Internationals members of staff returning to their home country with dependant are 
always entitled to four months of me dian regardless of time in service. 
g. The total provision for separation indemnity amounted to 8,063 kCHF in 2015, which 
represented a decrease of 811 kCHF compared to the previous year. This is due to the 
increase of the change in retirement age from 62 years to 65 years in 2015. 
                                               
4 OFFICE (15)/76: In September 2015, the WTO policy on removal of personal effects and household 
goods adopted the option of choosing a lump-sum payment for removal costs. This policy is under trial period for evaluation and collection of data, during which staff members will have the choice between the lump sum or to request the WTO to organize the removal upon separation as in the previous years. 
Due to a new implementation, the effect of this change of policy is not yet reflected in the calculations 
of the removal cost
.  
 WT/BFA/W/392 
 
- 64 - 
  
  Table 53 Actuarial Assumptions to  define benefit obligations 
Actuarial Assumptions Pension ASHI 
Discount rate 2.75% 2.75% 
Medical inflation rate   3.10% 
Inflation  0.6%  0.60% 
Rate of salary increase 0.6% for 8 years plus 
1.1% thereafter plus merit 
increase  
Rate of compensation increase 0,60% -  
Rate of pension increase 0.60% -  
 
Table 54 Actuarial Assumptions to define benefit costs 
Actuarial Assumptions Pension ASHI 
Discount rate 1.10% 1.10% 
Medical inflation rate   3.30% 
Inflation  0.80%  0.80% 
Rate of salary increase 0.8% for 9 years plus 
1.3% thereafter plus merit 
increase  
Rate of compensation increase 0,80% -  
Rate of pension increase 0.80% -  
Expected long-term rate on return of plan assets 4.00% -  
Table 55 Financial assets – Pension 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Fair value of plan assets at beginning of year 487,631 441,268  
Expected return on plan assets 19,658 20,128  
Actuarial (loss)/gain on plan assets net of actual investment expenses -20,246 15,973  
Employer contributions 19,338 19,694  
Employer receivable contributions 2,279  
Plan participants' contributions 9,703 9,847  
Benefits paid from the plan -19,737 -17,851  
Expenses paid -388 -410 
Premium paid -1,065 -1,106  
Net transfer in(out) including effect of any business 
combinations/disinvestitures - 88 
Foreign currency exchange rate changes -907 -  
Fair value of plan assets at end of year 496,266 487,631  
 
Table 56 Defined benefit obligation - Pension 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Benefit obligation at beginning of year 1,209,593 852,696  
Service cost 26,355 30,547  
Interest cost 13,293 22,185  
Plan participants' contributions 9,703 9,847  
Actuarial (gain)/loss -382,507 313,275  
Business combinations/divestitures/ transfers  - 
Benefits paid -19,737 -17,851  
Premium paid -1,065 -1,106  
Benefit obligation at end of year 855,635 1,209,593  
 WT/BFA/W/392 
 
- 65 - 
 
  Table 57 History of defined benefit obligat ions and experience gains and losses – 
Pension 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Defined benefit obligation 855,635 1,209,593  
Fair value of plan assets 496,266 487,631  
Surplus / Deficit 359,369 721,962  
Total actuarial gain/(losses) experienced 362,261 -297,302  
 
Table 58 Defined benefit obligation - ASHI 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Benefit obligation at beginning of year 342,853 247,100  
Service cost 14,516 9,272  
Interest cost 3,906 6,609  
Actuarial (gain)/loss -112,077 84,256  
Benefits paid (3,667) (4,384)  
Benefit obligation at end of year 245,531 342,853  
 
Table 59 History of defined benefit obligatio ns and experience gains and losses - ASHI 
Expressed in '000 CHF 31/12/2015 31/12/2014 
Defined benefit obligation 245,531 342,853  
Fair value of plan assets  - 
Surplus / Deficit 245,531 342,853  
Total actuarial gain/(losses) experienced 112,077 -84,256  
4.91.  Pension and ASHI benefits are calculated by  consulting actuaries. The WTO pension liability 
amounts to kCHF 855,635. This liability is counterbalanced by the corresponding pension's net fair 
value asset of kCHF 496,266. 
4.92.  As a result the overall 2015 pension net liability is kCHF 359,369 showing a decrease of 
kCHF 362,593 from the previous year.  
4.93.  The 2015 liability for ASHI decreased of kCHF 97,332 compared to the previous year and 
amounts to kCHF 245,531.  
4.94.  These decreases are due mainly to two different factors: 
a. The increase of the actuarial rate from 1.1% in 2012 to 2.75% in 2015 due to the 
modified approach of calculation introduced for 2015. 
b. The inflation rate at 0.6% compared to the previous rate of 0.8%. 
4.95.  In the assumptions of the actuary the discount rate used for 2014 (1.10%) is derived using 
a bond yield curve and based on high quality corporate (or government) bonds, the so called 
market method or sport rate approach. In 2015, the actuary presented an additional scenario 
aiming to reduce in the long run the fluctuation of the actuarial gain and losses that were 
experienced since the introduction of IPSAS in 2012.  
4.96.  In 2015 this new scenario calculates the discount rate based on the  rate determined by the 
Swiss Chamber of Pension Fund Experts (CSEP). The rate is less volatile than the one used 
previously as it is composed by the following: 
a. two thirds according to the average performance of a representative pension fund index 
over the last 20 years,  
b. one third according to the yield on ten-year Federal bonds less a margin of 0.5%.  WT/BFA/W/392 
 
- 66 - 
  
  c. The result is finally rounded down to the nearest 0.25% and would never be below the 
return of 10-year government bonds. 
4.97.  Actuarial gain or loss may result from increa ses or decreases in either the present value of a 
defined benefit obligation or the fair value of any related plan assets. Defining a discount rate with 
a reduced volatility across the years allows a better decision making process and facilitate the 
identification of trends in benefits liabilities. 
4.98.  In addition to the discount rate variations other causes of actuarial gains and losses include, 
for example: 
a. Unexpectedly high or low rates of employee turnover, early retirement or mortality, or of 
increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases), or medical costs. 
b. The effect of changes in estimates of future employee turnover, early retirement, or 
mortality, or of increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases), or medical costs; and 
c. Differences between the actual return on plan assets and the expected return on plan 
assets. 
4.99.  The methodology for determining the discount rate can cause strong variation in terms of 
Pension and ASHI cost, liabilities and actuarial gain or loss. Even minimal variation from one year 
to another has a significant impact on both the fi nancial position and perf ormance position of the 
WTO. 
4.100.  Having kept the former method for calc ulating the discount rate would have in fact 
generated different result in terms of actuarial gain or loss. In particular, with a spot rate of 1.00% 
the Pension Liabilities would have amounted KCHF 1.174 and ASHI liabilities kCHF 350,030. 
4.101.  The two above-mentioned approaches for the selection of the discount rate provide a 
range of values that indicate the variability of these two long terms liabilities that need to be 
closely assessed and monitored for the interest of the organization. 
4.4.15  Note 15 Loan and Grant 
4.102.  The Organization has received a CHF 60 million loan from the Swiss Authorities for the 
building project (CHF 20 million for the south and north courtyards transformations and CHF 
40 million for the new administrative building). This loan is interest-free and the WTO started in 2013 the reimbursement of the principal only. The du ration of the loan is 50 years. The value of 
the interest waived in 2015 will be waived until  the final payment in 2062. The value of the 
interest waiver will be equal to the future value of the loan discount, which will lead to the recognition of the present value of the loan at its nominal value. 
4.103.  The WTO holds an interest free loan relating  to the 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.  
4.104.  In 2015 the WTO received a grant of CH F 134,689 from FIPOI to cover the works for the 
"terrazzo" in the Centre William Rappard. 
4.4.16  Note 16 Working Capital fund 
4.105.  Governments acceding to the WTO shall make an advance to the Working Capital Fund 
(WCF) in accordance with the scale of contributions applicable to the budget for the year of their 
accession. The minimum advance to the Working Capi tal Fund amounts to 0.5% of the principal of 
the Fund for countries or separate customs territories whose share of the total trade of Members WT/BFA/W/392 
 
- 67 - 
 
  is 0.5% or less. The interest earned on the advances made by Members accrues to the 
Organization. Yemen has acceded to the WTO in 2014 in June 2014 as the 160th member of WTO. 
Table 60 Working Capital Fund Statement 
Expressed in '000 CHF 31/12/2015  31/12/2014  
ASSETS 
Cash and cash equivalents 10,710  10,603  
Receivables from Members 68 68 
Tax receivables 0  1 
  
Total assets 10,779  10,672  
   
LIABILITIES AND CAPITAL FUND  
Advances made by Members 6,161  4,511  
Interests earned 4,617  6,161  
   
Total liabilities and capital fund 10,779  10,672  
4.4.17  Note 17 Funds Table 61 Funds 
Expressed in '000 CHF Ministerial 
Operating 
Fund Doha 
Development 
Global Trust 
Fund Appellate 
Body 
Operating 
Fund Member's 
Transition 
Operating 
Fund Building 
renovation 
funds Total 
Closing Balance at 
31/12/2014 600   1,000  1020   1,701     -  4321  
Replenishment of reserves 600 0 2000 0   5,840  8,440  
Utilisation of reserves -1200 0  -1,711  -1,701  -  -4,612  
Balance at 31/12/2015 0 1,000  1,309  0 5,840 8,150  
 
4.106.  The WTO Funds amounts to KCHF 8150: The Ministerial Operating Fund, was replenished 
with the annual allocation of CHF600,000 and was fully used to cover the expenditure of the 10th 
Ministerial Conference in Nairobi. The Appellate Operating Fund. The Appellate Body Operating fund was replenished with an allocation of CHF 2 Million due to the increasing activity related to 
legal appeals, the fund covered expenses approximating CHF 1,7 Million in 2015. 
4.107.  In 2015 the Committee on Budget, Finance and Administration (CBFA) approved the 
closure of the Members Transition Operating F und (MTOF) and the creation of the Building 
Renovation Fund. The latter has been financed by the ending balance of the MTOF and by the 
regular budget including the pre-IPSAS budget surplus of CHF 739,756 generated at the end 
of 2011. An additional transfer of CHF 3,4 milli on from the regular budget allowed the fund to 
reach CHF 5,8 Million. 
4.4.18  Note 18 Revenue 4.108.  Revenue from non-exchange transactions include revenue from assessed contributions 
from Members and Observers and voluntary contributions. 
a. Assessed Contributions amount to kCHF 195,575 and are presented in the budget 
performance section of the report and in detail in Annex A of the Financial Statements.  
b. Contribution of observers show a decrease compared to the previous year as Seychelles 
and Kazakhstan became during 2015 the 161
st and 162nd member of the WTO. 
c. Voluntary Contributions from Trust Funds are presented in detail in Annex E of the 
financial statements. WT/BFA/W/392 
 
- 68 - 
  
  4.109.  Detailed data concerning revenues from assessed contributions and their budgetary 
implementation are reported in the first chapter of the Financial Performance report. 
4.110.  With the closure in October 2014 of the MTOF fund, no extraordinary revenues occurred in 
2015. 
4.111.  The financial statements indicate in a separate line the 2015 revenue deriving from 
consolidation with the WTO pension plan amounting to kCHF 19,178. 
4.112.  Revenue from exchange transactions is included in the line "Revenue from publications" 
and "Other revenue".  
a. Income from publications includes sales through the WTO bookshop and WTO distributor 
as well royalties and are summarized in the table below: 
Table 62 Revenues from publications 
Expressed in '000 CHF 31/12/2015  31/12/2014  
Publications Stocked Production 383  267  
Sales of WTO publications 155  184  
Sales of non WTO publications 66  103  
Sales of Souvenirs 32  12  
Other sales on Publications 49  24  
Total 684  590  
 
b. Other revenues are summarized in the table below: 
Table 63 Other Revenues 
Expressed in '000 CHF 31/12/2015  31/12/2014  
Refund of prior year's outstanding 
obligations 2,575  160  
Rental of meeting rooms and office 
spaces 108  119  
Miscellaneous 84  307  
Total 2,766  586  
 
4.113.  The refund of prior year obligation includes in particular savings from ITC for 2011 and 2012 of CHF 2 Million or adjustments related to past obligations settled in 2015. 
4.114.  Rental of meeting rooms and office spaces include revenues generated by the outsourcing 
of WTO meeting facilities to other entities. 
4.115.  Miscellaneous revenues include amounts re lated to selling of assets, interests from 
investments activities and other savings. 
4.4.19  Note 19 Expenses 
4.116.  The main category of expenses are summarized as follows: 
a. Staff expenditures include costs such as salaries, annual leave, pension, health insurance 
among others. Expenditures of this nature decreased by about 3.7% compared to the 
previous year, mainly because of valuation effects regarding the pension costs. 
b. Pension Actuarial Cost decreased compared to last year due to the 2015 plan 
amendment aiming to increase the commute portion of the retirement pension from 
33% to 50%. ASHI actuarial cost, instead increased compared to last year of 3.2 MCHF. WT/BFA/W/392 
 
- 69 - 
 
  Table 64 Staff Expenditures including Trust Funds 
Line 2015  2014 Difference  
Staff / Salary 88,602  88,360 241  
Staff / Annual leave 701 362 339 
Variation Provision Annual Leave -17  -540 524  
Staff / Overtime 154 123 31 
Staff / Representation Allowance 176  177 -1  
Staff / Pension 21,144  18,950 2,194  
Staff / Retiree Heal th Insurance 2,445  2,419 25  
Staff / Health Insurance 4,913  5,084 -170 
Death and Invalidity Insurance 534  425 108  
Staff/ Allowances for Dependences 5,343  5,280 63 
Staff / Education Grant 4,179  3,897 282  
Variation Provision for Education Grant 6 107 -101 
Staff / Home Leave 1,539  1,679 -139  
Variation Provision for Home Leave 112 -252 364 
Staff / Rental Subsidy 343  313 30  
Staff / Travel and Removal 463 292 171 
Variation Provision Travel & Removal -492  292 -784  
Staff / Installation Gran t & Medical Examinations 353 212 141 
Staff / Separation Grant 1,007  603 404  
Variation Separation indemnity -841 1,013 -1,855  
Staff / Negotiated Termination Indemnity 3,398  554 2,844  
Staff / US Taxes 607 98 508 
Subtotal Staff Costs 134,668  129,447 5,222  
Staff / Pension Actuarial Cost 18,846  33,775 -14,929  
Staff / Retiree Health Insurance Actuarial Cost 14,755  11,497 3,258  
Total 168,269  174,719 -6,449  
 
c. Temporary assistance expenditures refer to costs related to external translation 
activities, recruitment of consultants or staff with a short term contract. Costs for 
panellists and appellate body member fees also fall in this category. The value of Temporary Assistance is in line with the previous year. 
Table 65 Temporary Assistance including Trust Funds 
Line 2015 2014 Difference  
Short-Term Staff / Salary                     4,957  5,751 -793  
Short-Term Staff / Pension                        541  818 -277 
Short-Term Staff / Health Insurance                        208  290 -82  
Short-Term Staff / Annual Leave                        262  294 -31 
Short-Term Staff / Overtime                         14  9 5  
Language and Translation costs                     6,928  6,505 422 
Consulting costs                     2,928  2,507 421  
Panellists & Appellate Body Members Fees                     2,441  2,164 277 
Interns                     2,381  2,330 51  
Consolidation with Trust Funds -38  -37 -1 
Total 20,622  20,631 -8  
4.117.  Supplies and other general service expenditures include general administration costs such 
as utilities costs, maintenance costs, and publication costs. In addition costs for the purchasing of 
supplies and small equipment and a write off for obsolete publications are part of this category. An 
increase of more than CHF 2 million is to be noted compared to year 2015.  
4.118.  Travel & Hospitality expenditures represent the costs related to travel on official mission, 
accommodation, tickets for staff, panellists and participants at trade related technical activities WT/BFA/W/392 
 
- 70 - 
  
  among others. Hospitality expenses are related to costs incurred by Senior Management for 
receptions such as hospitality events and meetings related to the WTO activity. 
4.119.  Implementing partners' expenditures repr esent costs for activities funded by WTO but 
executed by third-party organizations. The co sts for these activities decreased of about 
CHF 0.9 million compared to the previous year . The difference is due to the Trust Funds 
expenditures for implementing partners that decreased from 5,410 kCHF in 2014 to 4.496 kCHF in 2015. 
4.120.  Contribution to ITC includes the funds granted to ITC for its core activities. 
4.121.  The Ministerial Conference Operating Fund  and the Appellate Body Operating Fund show 
the variation of the two funds dedicated to the activities of Appellate Body and Ministerial 
Conference. The Ministerial Conference Operatin g fund was replenished and subsequently fully 
used through expenditure for the Ministerial Conference that took place in Nairobi, in 2015. 
4.122.  Depreciation includes the depreciation costs for the assets. Depreciation for the right of 
use CWR refers to the amortisation of the liability related to the CWR following the concession of a 
right of use of CWR premises from the Geneva Local Authorities.  
4.123.  Finance and foreign exchange costs refer mainly to interests paid to banks and expenses 
due to exchange rate transactions among different currencies. 
4.124.  The extraordinary loss of kCHF 830 is related to the write-off of outstanding contribution 
from the former Yugoslavia. An additional kCHF 324 extraordinary loss is related to an adjustment of prior year extraordinary revenue which was recorded in 2014 in the framework of the MTOF. 
4.4.20  Note 20 Segment reporting 
4.125.  Segment information is based on the two main sources of financing of the Organization. 
These segments are: i) the regular budget of the WTO, and ii) Trust Funds. Segment reporting will 
only be presented for the Statement of Financial Performance. 
4.126.  The only intra-fund transaction occurred is  related to the reallocation of part of the 
expenses of the EPSF (Programme Support Fund) to the regular budget. 
4.127.  The 10 % of the expenses in the EPSF is  statutorily credited back to the WTO regular 
budget as a token contribution in recognition of the fact that the Organization's resources are 
being used for the delivery of the technical assistance activities financed from the extra budgetary funds (corresponding to the amount of KCHF 190). The counterpart of this amount is redistributed 
as follows:  
a. 80% of this contribution is allocated to the Supplies and other general services costs 
(corresponding to the amount of kCHF 152). 
b. 20% of this contribution is allocated to the Temporary assistance (corresponding to the 
amount of kCHF 38). WT/BFA/W/392 
 
- 71 - 
 
  Table 66 Financial Performance by segments 
2015 
Expressed in '000 CHF WTO 
Budget Trust Funds Inter-Fund 
Transactions TOTAL WTO 
REVENUE         
Contributions assessed on 
Members 195,575      195,575  
Contributions of Observers 652     651.818  
Voluntary contributions on trust 
funds 0 20,517    20,517  
Revenue from publications 684     684 
Other revenue 1,801  -  -190  1,612  
Pension Revenues 19,178      19,178  
Total revenue 217,891  20,517  -190 238,218  
          
EXPENSES         
Staff Expenditure -127,432  -7,236    -134,668  
Actuarial cost for ASHI -14,755      -14,755  
Actuatrial cost for pension -18,846      -18,846  
Temporary Assistance -18,266  -2,394  38 -20,622  
Supplies, write off and other 
general services costs -15,873  -606 152 -16,328  
Travel & Hospitality -6,969  -5,863    -12,832  
Implementing Partners -231 -4,496    -4,727  
Contribution to ITC -18,470      -18,470  
Ministerial Conference Operating 
Fund 600     600 
Appellate Body Operation Fund -289      -289  
Depreciation  6,340      6,340  
Provision for contributions in 
arrears 902     902  
Right of use - CWR -11,313      -11,313  
Finance costs -69  -10   -79  
Loss/(Gain) on foreign exchange 
transactions  195 89   283.50  
          
Total expenses -224,477  -20,517  190 -244,804  
          
Surplus/(deficit) for the period -6,586  0 0 -6,586  
 
4.4.21  Note 21 Reconciliation with Budget 
4.128.  The WTO consolidated budget includes th e 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). 
4.129.  A statement of comparison of original 2015  budget and actual amounts is presented in the 
first narrative part of this report where material differences are explained. The following table 
reconciles the budgetary savings with the surplus account as required by Financial Regulations and 
with the financial results as obtained from the implementation of IPSAS. WT/BFA/W/392 
 
- 72 - 
  
  Table 67 Reconciliation between budge t result and financial result 
Expressed in '000 CHF   
Budgetary savings  31/12/2015 4,558 
     
Assessed contributions on new Members (refer to Table 2) 75  
Miscellaneous income (refer to Table 2) 1,547  
    
Surplus  31/12/2015 6,179 
     
Loan reimbursement   1,200  
Sales of Assets 24  
Production stocked 383  
Building renovation Fund Equity Allocation 3,400  
Acquisition of property, plant and equipment 1,046  
Depreciation and amortisation of  property, plant and equipment 6,340  
Depreciation of provision for right of use - CWR -11,313  
Provision for contribution in arrears 902  
Adjustment savings on MTOF -324  
Pension benefits actuarial valuation (net value) 332  
After service health insurance (ASHI) benefits actuarial valuation -14,755  
Financial result  31/12/2015 -6,586 
 
4.130.  The deficit for the year 2015 amounts to kCHF 6,586. This is the deficit calculated using the same methodology as in prior years and in compliance with the WTO Financial Regulation.  
4.4.22  Note 22 Key management personnel 
4.131.  Key management personnel of the WTO are the Director-General and the four Deputy 
Director-Generals as they have the authority and responsibility for planning, directing and 
controlling the activities of the WTO. 
4.132.  The aggregate remuneration paid to key management personnel includes net salaries, 
entitlements such as education grant, home le ave and dependency allowances, employer pension 
and health insurance contributions. 
Table 68 Key management personnel 
Expressed 
inCHF Nb of 
individual Net salaries and 
representation 
allowances Entitlements 
and other Pension 
and 
health 
plans Total 
31/12/2015 
Key 
management 
personnel 5 1,545,030   30,308 322,067 1,897,405 
 
4.4.23  Note 23 Contingent assets and contingent liabilities 
4.133.  At the end of 2015, the Organization held, bank guaranties of kCHF 2,212 from Implenia 
related to the Building Project,  kCHF 865 from HRS related to the Building Project, kCHF 112 for 
the welcome Pavilion, kCHF 20 for the garden and trees and kCHF for the Villa Rappard Works. WT/BFA/W/392 
 
- 73 - 
 
  4.4.24  Note 24 Commitments 
4.134.  The commitments opened on the 31st December 2015 are the following: 
a. Regular budget: kCHF 0,329. 
b. Trust Funds: kCHF 5,909. 
4.4.25  Note 25 Events after the reporting date 
4.135.  The WTO's reporting date is 31 December 2015. The financial statements were authorised 
for issue on 31 March 2015, the date at which they  were submitted to the External Auditor by the 
Director-General.  
4.136.  In April 2016, WTO received a reimbursement of USD 2,520,538 from the US treasury 
Department. This reimbursement corresponds to close to the full amount of the long term tax claims submitted by WTO to the US treasury department. 
4.137.  No material events that would have impacted these statements, favourable or 
unfavourable, were incurred between the report ing date and the date when the financial 
statements were authorised for issue. WT/BFA/W/392 
 
- 74 - 
  
  4.5  Schedules 
4.5.1  Schedule A 2015 Statement of Co ntributions from Member States 2015 
Table 69 Contributions from Members in 2015 
Members Assessed  
Contributions  Interests gained  
for 2015 Net Assessed  
Contributions  
Albania 52,785  15 52,770  
Angola 512,210  123 512,087  
Antigua and Barbuda 29,325  - 29,325  
Argentina 801,550  192 801,358  
Armenia 33,235  1 33,234  
Australia 2,725,270  1,051 2,724,219  
Austria 2,148,545  892 2,147,653  
Bahrain, Kingdom of 173,995  37 173,958  
Bangladesh 263,925  77 263,848  
Barbados 29,325  7 29,318  
Belgium 4,013,615  1,462 4,012,153  
Belize 29,325  2 29,323  
Benin 29,325  - 29,325  
Bolivia, Plurinational State of 78,200  - 78,200  
Botswana 60,605  12 60,593  
Brazil 2,504,355  649 2,503,706  
Brunei Darussalam 72,335  29 72,306  
Bulgaria 326,485  144 326,341  
Burkina Faso 29,325  3 29,322  
Burundi 29,325  - 29,325  
Cabo Verde 29,325  - 29,325  
Cambodia 76,245  - 76,245  
Cameroon 72,335  - 72,335  
Canada 5,145,560  2,394 5,143,166  
Central African Republic 29,325  - 29,325  
Chad 44,965  - 44,965  
Chile 787,865  65 787,800  
China 16,850,145  3,041 16,847,104  
Colombia 525,895  165 525,730  
Congo 58,650  5 58,645  
Costa Rica 138,805  69 138,736  
Côte d'Ivoire 101,660  - 101,660  
Croatia 265,880  2 265,878  
Cuba 148,580  34 148,546  
Cyprus 109,480  46 109,434  
Czech Republic 1,401,735  567 1,401,168  
Democratic Republic of the Congo 89,930  8 89,922  
Denmark 1,648,065  421 1,647,644  
Djibouti 29,325  - 29,325  
Dominica 29,325  - 29,325  
Dominican Republic 142,715  - 142,715  
Ecuador 226,780  73 226,707  
Egypt 561,085  42 561,043  
El Salvador 78,200  3 78,197  
Estonia 175,950  80 175,870  
European Union - - - 
Fiji 29,325  12 29,313  
Finland 1,061,565  438 1,061,127  
France 7,741,800  3,155 7,738,645  
Gabon 66,470  3 66,467  
The Gambia 29,325  - 29,325  
Georgia 58,650  14 58,636  WT/BFA/W/392 
 
- 75 - 
 
  Members Assessed  
Contributions  Interests gained  
for 2015 Net Assessed  
Contributions  
Germany 15,941,070  7,182 15,933,888  
Ghana 134,895  6 134,889  
Greece 785,910  214 785,696  
Grenada 29,325  - 29,325  
Guatemala 136,850  50 136,800  
Guinea 29,325  4 29,321  
Guinea-Bissau 29,325  - 29,325  
Guyana 29,325  13 29,312  
Haiti 29,325  7 29,318  
Honduras 84,065  - 84,065  
Hong Kong, China 4,985,250  2,120 4,983,130  
Hungary 1,129,990  195 1,129,795  
Iceland 72,335  34 72,301  
India 4,187,610  772 4,186,838  
Indonesia 1,737,995  578 1,737,417  
Ireland 2,025,380  611 2,024,769  
Israel 842,605  225 842,380  
Italy 6,007,715  2,147 6,005,568  
Jamaica 62,560  4 62,556  
Japan 8,785,770  2,428 8,783,342  
Jordan 162,265  24 162,241  
Kazakhstan 55,361  - 55,361  
Kenya 115,345  37 115,308  
Korea, Republic of 5,632,355  1,443 5,630,912  
Kuwait, the State of 678,385  135 678,250  
Kyrgyz Republic 37,145  2 37,143  
Lao People's Democratic Republic 29,325  - 29,325  
Latvia 154,445  66 154,379  
Lesotho 29,325  - 29,325  
Liechtenstein 52,785  21 52,764  
Lithuania 295,205  2 295,203  
Luxembourg 762,450  325 762,125  
Macao, China 242,420  72 242,348  
Madagascar 31,280  3 31,277  
Malawi 29,325  5 29,320  
Malaysia 2,191,555  761 2,190,794  
Maldives 29,325  7 29,318  
Mali 29,325  7 29,318  
Malta 80,155  18 80,137  
Mauritania 29,325  - 29,325  
Mauritius 58,650  25 58,625  
Mexico 3,393,880  1,133 3,392,747  
Moldova, Republic of 39,100  14 39,086  
Mongolia 46,920  7 46,913  
Montenegro 29,325  10 29,315  
Morocco 371,450  - 371,450  
Mozambique 52,785  11 52,774  
Myanmar 66,470  22 66,448  
Namibia 46,920  20 46,900  
Nepal 37,145  7 37,138  
Netherlands 5,833,720  1,648 5,832,072  
New Zealand 439,875  185 439,690  
Nicaragua 48,875  2 48,873  
Niger 29,325  - 29,325  
Nigeria 782,000  38 781,962  
Norway 1,624,605  627 1,623,978  
Oman 355,810  45 355,765  
Pakistan 351,900  98 351,802  WT/BFA/W/392 
 
- 76 - 
  
  Members Assessed  
Contributions  Interests gained  
for 2015 Net Assessed  
Contributions  
Panama 220,915  31 220,884  
Papua New Guinea 58,650  7 58,643  
Paraguay 105,570  - 105,570  
Peru 398,820  90 398,730  
Philippines 658,835  280 658,555  
Poland 2,189,600  923 2,188,677  
Portugal 869,975  67 869,908  
Qatar 647,105  117 646,988  
Romania 688,160  184 687,976  
Russian Federation 4,371,380  1,317 4,370,063  
Rwanda 29,325  - 29,325  
Saint Kitts and Nevis 29,325  - 29,325  
Saint Lucia 29,325  12 29,313  
Saint Vincent and the Grenadines 29,325  - 29,325  
Samoa 29,325  1 29,324  
Saudi Arabia, Kingdom of 2,422,245  798 2,421,447  
Senegal 46,920  - 46,920  
Seychelles 20,086  - 20,086  
Sierra Leone 29,325  - 29,325  
Singapore 4,609,890  1,952 4,607,938  
Slovak Republic 785,910  245 785,665  
Slovenia 338,215  149 338,066  
Solomon Islands 29,325  8 29,317  
South Africa 1,069,385  443 1,068,942  
Spain 4,306,865  170 4,306,695  
Sri Lanka 146,625  35 146,590  
Suriname 29,325  13 29,312  
Swaziland 29,325  5 29,320  
Sweden 2,271,710  933 2,270,777  
Switzerland 3,049,800  893 3,048,907  
Chinese Taipei 3,006,790  1,320 3,005,470  
Tajikistan 29,325  - 29,325  
Tanzania 84,065  - 84,065  
Thailand 2,301,035  943 2,300,092  
The former Yugoslav Repu blic of Macedonia 56,695  - 56,695  
Togo 29,325  - 29,325  
Tonga 29,325  11 29,314  
Trinidad and Tobago 127,075  44 127,031  
Tunisia 240,465  48 240,417  
Turkey 1,949,135  631 1,948,504  
Uganda 50,830  - 50,830  
Ukraine 819,145  234 818,911  
United Arab Emirates 2,559,095  931 2,558,164  
United Kingdom 7,579,535  3,517 7,576,018  
United States of America 22,114,960  56 22,114,904  
Uruguay 111,435  17 111,418  
Vanuatu 29,325  - 29,325  
Venezuela, Bolivari an Republic of 735,080  41 735,039  
Viet Nam 936,445  205 936,240  
Yemen 97,750  - 97,750  
Zambia 70,380  8 70,372  
Zimbabwe 37,145  14 37,131  
GRAND TOTAL 195,575,447  55,436 195,520,011  
 WT/BFA/W/392 
 
- 77 - 
 
  Table 70 Contributions fr om Observers in 2015 
Observers 2015 Contribution CHF  
Afghanistan 29,325  
Algeria 29,325  
Andorra 29,325  
Azerbaijan 29,325  
Bahamas 29,325  
Belarus 29,325  
Bhutan 29,325  
Bosnia and Herzegovina 29,325  
Comoros 29,325  
Equatorial Guinea 29,325  
Ethiopia 29,325  
Holy See 29,325  
Iran 29,325  
Iraq 29,325  
Kazakhstan (2) 26,754  
Lebanon 29,325  
Liberia 29,325  
Libya 29,325  
Sao Tome and Principe (1) n/a 
Serbia 29,325  
Seychelles (2) 9,239  
Sudan 29,325  
Syrian Arab Republic 29,325  
Uzbekistan 29,325  
TOTAL 651,818  
(1) Annual contribution suspen ded for Inactive Observer. 
(2) Observer became Member in 2015 Contributions as Members on a pro-rata basis from corresponding 
the accessions date. WT/BFA/W/392 
 
- 78 - 
  
  4.5.2  Schedule B 20145 Early payment encouragement scheme 
Table 71 Interest to be distributed to Member States in 2016 
Members Interest earned  Members Interest 
earned  
Albania 30  Macao, China 106  
Angola 198 Madagascar 7 
Armenia 6  Malaysia 1,350  
Australia 1,627  Maldives 7 
Austria 984  Mali 12  
Bahrain, Kingdom of  98   Malta 49 
Bangladesh 128  Mauritius 36  
Barbados 12 Mexico 1,447  
Belgium 2,155    Moldova, Republic of 22  
Belize 13 Montenegro 19 
Bolivia; Plurinational State of 14  Morocco 200  
Botswana 25 Mozambique 19 
Brunei Darussalam 30  Myanmar 33  
Bulgaria 209   Namibia 26 
Cambodia 36  Nepal 23  
Canada 3,258  Netherlands 2,748  
Chile 266  New Zealand 279  
China 1,828  Nicaragua 25 
Colombia 244  Norway 779  
Congo 2 Oman 93 
Costa Rica 95  Pakistan 163  
Croatia 17 Panama 82 
Cuba 29  Papua New Guinea 29  
Cyprus 67   Peru 71 
Czech Republic 797  Philippines 381  
Denmark 840 Poland 1,377  
Ecuador 7  Portugal 235  
Egypt 347 Qatar 205 
Estonia 116    Romania 315  
Fiji 12 Russian Federation 2,359  
Finland 555  Saint Kitts and Nevis 14  
France 4,469  Saint Lucia 10 
Georgia 33  Saudi Arabia, Kingdom of 676  
Germany 10,445  Senegal 17 
Ghana 67    Singapore 2,910  
Greece 179 Slovak Republic 478 
Guatemala 49  Slovenia 223  
Guyana 18   Solomon Islands 15 
Haiti 16  South Africa 585  
Honduras 37 Spain 1,507  
Hong Kong, China 3,072    Sri Lanka 56  
Hungary 696   Swaziland 6 
Iceland 33  Sweden 1,357  
India 1,578  Switzerland 1,746  
Indonesia 853  Chinese Taipei 1,696  
Ireland 1,271  Tajikistan 11 
Israel 314  Thailand 1,425  
Italy 2,958  Tonga 15 
                                               
5 In 2015, no interests were distributed due to negati ve interest rates. The table refers to year 2014. WT/BFA/W/392 
 
- 79 - 
 
  Members Interest earned  Members Interest 
earned  
Japan 3,266  Trinidad and Tobago 37  
Jordan 79 Tunisia 27 
Kenya 20  Turkey 999  
Korea, Republic of 981   Uganda 1 
Kyrgyz Republic 7  Ukraine 260  
Lao People's Democratic Republic 16   United Arab Emirates 163 
Latvia 97  United Kingdom 4,635  
Liechtenstein 30 United States of America 224 
Lithuania 10  Uruguay 24  
Luxembourg 292 Viet Nam 382 
  Total 76,927  
 
 WT/BFA/W/392 
 
- 80 - 
  
  4.5.3  Schedule C Statement of Outstand ing Contributions as 31 December 2015 – 
Members 
Table 72 Outstanding contributions as  31 December 2015 – Member States 
Members Contributions (CHF)  Cate- 
gory 1974-2013 2014 2015 TOTAL Advance 
Albania   - - - - - 
Angola   - - - - 49,134 
Antigua and Barbuda   - - 233 233 - 
Argentina   - - 801,358 801,358 - 
Armenia   - - - - - 
Australia   - - - - - 
Austria   - - - - 2,045,901 
Bahrain, Kingdom of   - - - - - 
Bangladesh   - - - - - 
Barbados   - - - - - 
Belgium   - - - - - 
Belize   - - - - - 
Benin   - - 28,162 28,162 - 
Bolivia, Plurinational State of   - - 78,200 78,200 - 
Botswana   - - - - - 
Brazil   - - 839,765 839,765 - 
Brunei Darussalam   - - - - - 
Bulgaria   - - - - - 
Burkina Faso   - - - - 7,628 
Burundi (2)   462,839 29,325 29,325 521,489 - 
Cabo Verde   - - 29,325 29,325 - 
Cambodia   - - - - - 
Cameroon   - 18,852 72,335 91,187 - 
Canada   - - - - - 
Central African Republic III  939,102 29,325 29,325 997,752 - 
Chad (2)   773,354 37,145 44,965 855,464 - 
Chile   - - - - 958 
China   - - - - - 
Colombia   - - 5,216 5,216 - 
Congo   - 21,854 58,645 80,499 - 
Costa Rica   - - - - 138,681 
Côte d'Ivoire (2)   144,332 105,570 101,660 351,562 - 
Croatia   - - - - - 
Cuba   - - - - 6 
Cyprus   - - - - - 
Czech Republic   - - - - - 
Democratic Republic of the 
Congo   - - 1,947 1,947 - 
Denmark   - - - - - 
Djibouti (2)   159,993 29,325 29,325 218,643 - 
Dominica III  58,470 29,325 29,325 117,120 - 
Dominican Republic   - 149,552 142,715 292,267 - 
Ecuador   - - 226,707 226,707 - 
Egypt   - - - - - 
El Salvador   - - 8,878 8,878 - 
Estonia   - - - - 175,834 
European Union (1)   - - - - - 
Fiji   - - - - - WT/BFA/W/392 
 
- 81 - 
 
  Members Contributions (CHF)  Cate- 
gory 1974-2013 2014 2015 TOTAL Advance 
Finland   - - - - - 
France   - - - - - 
Gabon   - - - - 2,695 
The Gambia (2)   239,576 29,325 29,325 298,226 - 
Georgia   - - - - 62,527 
Germany   - - - - - 
Ghana   - - 134,889 134,889 - 
Greece   - - - - - 
Grenada  I  22,530 29,325 29,325 81,180 - 
Guatemala   - - 48,415 48,415 - 
Guinea   - - 28,850 28,850 - 
Guinea-Bissau  III  553,989  29,325 29,325 612,639 - 
Guyana   - - - - 19,557 
Haiti   - - - - - 
Honduras   - - - - 9,430 
Hong Kong, China   - - - - - 
Hungary   - - - - 1,066,709 
Iceland   - - - - - 
India   - - - - - 
Indonesia   - - - - - 
Ireland   - - - - - 
Israel   - - - - - 
Italy   - - - - - 
Jamaica   - 65,334 62,556 127,890 - 
Japan   - - - - 1,029,403 
Jordan   - - - - - 
Kazakhstan   - - 2,788 2,788 - 
Kenya   - - - - 79,377 
Korea, Republic of   - - - - - 
Kuwait, the State of   - - - - 135 
Kyrgyz Republic   - - 575 575 - 
Lao People's Democratic 
Republic   - - - - 941 
Latvia   - - - - - 
Lesotho   - - - - - 
Liechtenstein   - - - - - 
Lithuania   - - - - - 
Luxembourg   - - - - - 
Macao, China   - - - - - 
Madagascar   - 804 31,277 32,081 - 
Malawi  I  253 29,325 29,320 58,898 - 
Malaysia   - - - - - 
Maldives   - - 29,318 29,318 - 
Mali   - - - - 256 
Malta   - - - - - 
Mauritania  III  765,311 29,325 29,325 823,961 - 
Mauritius   - - - - - 
Mexico   - - - - - 
Moldova, Republic of   - - - - - 
Mongolia   - - 38,629 38,629 - 
Montenegro   - - - - 28,267 
Morocco   - - - - - 
Mozambique   - - - - - 
Myanmar   - - 1,094 1,094 - 
Namibia   - - - - - 
Nepal   - - - - 25 
Netherlands   - - - - - 
New Zealand   - - - - 443,506 WT/BFA/W/392 
 
- 82 - 
  
  Members Contributions (CHF)  Cate- 
gory 1974-2013 2014 2015 TOTAL Advance 
Nicaragua   - - - - 34 
Niger (2)   419,275 29,325 29,325 477,925 - 
Nigeria   - - - - 606,194 
Norway   - - - - - 
Oman   - - - - - 
Pakistan   - - 97 97 - 
Panama   - - - - 10,382 
Papua New Guinea   - - - - - 
Paraguay   - 61,459 105,570 167,029 - 
Peru   - - 54,138 54,138 - 
Philippines   - - - - 13,787 
Poland   - - - - - 
Portugal   - - - - - 
Qatar   - - - - - 
Romania   - - - - - 
Russian Federation   - - 163,581 163,581 - 
Rwanda  I  - 29,324 29,325 58,649 - 
Saint Kitts and Nevis   - - - - 3,986 
Saint Lucia   - - - - - 
Saint Vincent and the 
Grenadines  I  14,601 29,325 29,325 73,251 - 
Samoa   - - 29,309 29,309 - 
Saudi Arabia, Kingdom of   - - - - - 
Senegal   - - 46,091 46,091 - 
Seychelles   - - - - - 
Sierra Leone (2)   709,972 29,325 29,325 768,622 - 
Singapore   - - - - 4,700,820 
Slovak Republic   - - - - - 
Slovenia   - - - - - 
Solomon Islands   - - - - - 
South Africa   - - - - - 
Spain   - - - - - 
Sri Lanka   - - - - - 
Suriname  I  - 29,299 29,312 58,611 - 
Swaziland   - - - - - 
Sweden   - - - - - 
Switzerland   - - - - 3,320,000 
Chinese Taipei   - - - - - 
Tajikistan   - - 2,900 2,900 - 
Tanzania   - - 79,415 79,415 - 
Thailand   - - - - 2,358,260 
The former Yugoslav Republic  
of Macedonia  I  - 58,650 56,695 115,345 - 
Togo (2)   - - 29,237 29,237 - 
Tonga   - - - - - 
Trinidad and Tobago   - - - - - 
Tunisia   - - - - - 
Turkey   - - - - - 
Uganda   - 2,227 50,830 53,057 - 
Ukraine   - - - - - 
United Arab Emirates   - - - - - 
United Kingdom   - - - - - 
United States of America   - - 10,965,539 10,965,539 - 
Uruguay   - - - - - 
Vanuatu  I  2,551 29,325 29,325 61,201 - 
Venezuela, Bolivarian 
Republic of  I  88,948 725,305 735,039 1,549,292 - 
Viet Nam   - - - - - 
Yemen   - 53,653 97,750 151,403 - WT/BFA/W/392 
 
- 83 - 
 
  Members Contributions (CHF)  Cate- 
gory 1974-2013 2014 2015 TOTAL Advance 
Zambia   - 39,481 70,372 109,853 - 
Zimbabwe   - - 24 24 - 
Yugoslavia (3)   - - - - - 
GRAND TOTAL  12 5,355,096  1,779,734 15,744,946 22,879,776 16,174,433 
(1) No assessment is made in the European Union as such. 
(2) Member under payment scheme. 
(3) Uncollectible contributions, from a Former Contracting Party to GATT 1947 which is not WTO 
Member, for an amount of CHF 830,439 have been written-off as at 31 December 2015. 
 
4.5.4  Schedule D Statement of Outstand ing Contributions as 31 December 2015 – 
Observers 
Table 73 Outstanding contributions as 31 December 2015 - Observers 
Observers 
Contributions (Swiss 
Francs) Category 2001-2013  2014  2015  TOTAL Advance  
Afghanistan   -  36 29,325  29,361 -  
Algeria   - - - - - 
Andorra   -  - - - -  
Azerbaijan   - - - - - 
Bahamas   -  - - - 29,325  
Belarus   - - - - - 
Bhutan   -  - - - 29,325  
Bosnia and Herzegovina   - - - - - 
Comoros   -  - 18,534  18,534 -  
Equatorial Guinea I - 29,325  29,325  58,650 - 
Ethiopia   -  - - - -  
Holy See   - - - - - 
Iran   -  - 29,325  29,325 -  
Iraq   - - - - - 
Lebanon   - - - - - 
Liberia   -  - 4 4 -  
Libya I 25,896  29,325  29,325  84,546 - 
Sao Tome And Principe III 306,529  n/a n/a (1) 306,529 -  
Serbia   - - - - - 
Sudan I 4,833  29,325  29,325  63,483 -  
Syrian Arab Republic   - - 20 20 - 
Uzbekistan   -  - - - -  
TOTAL 4 337,258  88,011  165,183  590,452 58,650  
(1) n/a annual contribution su spended for inactive observer. 
 
   
   WT/BFA/W/392  
 
- 84 - 4.5.5  Schedule E Voluntary contributions re ceived in 2015 and 2014 per donor and by fund 
Table 74 WTO Trust funds - Voluntary contributi ons received in 2015 per donor and by fund 
Funds 
Doha development agenda 
global trust fund 
Enhanced integrated 
framework – Executive 
secretariat 
Mission internship 
programme 
10th Ministerial conference - 
LDCs 
Netherland trainees 
Trade facilitation Agreement  
Facility 
STDF Standards and trade 
development facility 
China LDCs and accessions 
programme 
Evaluation trust funds 
TOTAL   
  
  
  
  
  
  
Donors 
Australia 2,162,382    67,750   707,850    112,640 3,050,622 
Austria 104,900         104,900       209,800 
Canada      37,211         37,211 
China               485,000   485,000 
Denmark 400,028     400,028   800,056 
European Union 1,658,552     87,280   174,400 385,840     2,306,072 
Estonia 24,120             24,120 
Finland       43,440     568,700   102,366 714,506 
France 434,400  651,600     51,700    1,137,700 
Germany 1,060,000           162,900     1,222,900 
Ireland    156,600 52,200    156,600    365,400 
Italy                   - 
Japan 267,413             267,413 
Korea (Republic of) 346,500                 346,500 
Liechtenstein 40,000             40,000 
Luxembourg                   - 
Netherlands 495,000     875,000  875,000    2,245,000 
New Zealand                   - 
Norway 1,161,373    58,069   1,742,059 464,549    3,426,050 
Sweden       57,674     1,128,640     1,186,314 
Switzerland      50,000         50,000 
Chinese Taipei             78,945     78,945  
United Kingdom         369,004      369,004 
United States 950,400           285,575     1,235,975 
UNOPS   2,725,305            2,725,305 
 Total  9,105,068 2,725,305 808,200  453,624 875,000  3,098,213 4,558,477  485,000 215,006  22,323,893 
   
   WT/BFA/W/392  
 
- 85 -  
Table 75 WTO Trust funds - Voluntary contributi ons received in 2014 per donor and by fund 
Funds 
Doha development agenda 
global trust fund 
Enhanced integrated 
framework – Executive 
secretariat 
Mission internship 
programme 
9th Ministerial conference - 
LDCs 
Netherland trainees 
Trade facilitation – National 
Needs Assessments 
Trade facilitation – 
Negotiating group 
STDF Standards and trade 
development facility 
China LDCs and accessions 
programme 
Evaluation trust funds 
TOTAL   
  
  
  
  
  
  
Donors 
Australia 61,370          61,370 
Austria 241,400          241,400 
Canada        903,751   903,751 
Denmark 482,422       482,422   964,844 
Estonia 24,640          24,640 
European Union 317,592     48,120 76,265 444,808  96,240 830,495 
France 608,500  608,500        1,217,000 
Germany 1,203,000       180,900   1,383,900 
Ireland   180,900     223,110   404,010 
Korea (Republic of) 336,350          336,350 
Japan 312,019       73,365   385,384 
Liechtenstein 40,000          40,000 
Netherlands 875,000    1,750,000   875,000   3,500,000 
New Zealand      78,130     78,130 
Norway 2,163,722     1,300,954 144,550 419,196   4,028,422 
Sweden        652,729   652,729 
United States 1,127,392       89,000   1,216,392 
UNOPS  4,863,234         4,863,234 
 Total  7,793,406  4,863,234 789,400  - 1,750,000  1,427,204  68,285 4,344,281  - 96,240  21,132,051 
 
 
   
   WT/BFA/W/392  
 
- 86 - 4.5.6  Schedule F Balance due to donors as 31 December 2015 and 2014 
Table 76 WTO Trust funds - Balance due to donors as 31 December 2015 
Funds 
Doha development 
agenda global trust fund 
Enhanced integrated 
framework – Executive 
secretariat 
Mission internship 
programme 
Independent entity 
Program support fund 
Evaluation trust funds 
Trainee program 
Trade facilitation – 
National needs 
assessments 
Trade facilitation 
Agreement Facility 
STDF Standards and trade  
development facility 
China LDCs and 
accessions programme 
Total   
  
  
  
  
  
Donors 
Australia 359,167 112,640    810,394 40,682 1,322,884 
Austria 2,716,050    102,250 2,818,300 
Canada 368,741                 1,379,436   1,748,177 
China                     384,818 384,818 
Denmark 791,890                 915,518   1,707,408 
European Union           96,249           96,249 
Finland 185,922         102,366       605,920   894,208 
France 1,035,040   838,059             35,186   1,908,285 
Germany 2,176,936                 381,384   2,558,320 
Ireland 41,657   290,595           34,700 410,900   777,851 
Japan 602,479                 174,763   777,242 
Korea (Republic of) 628,053                     628,053 
Liechtenstein 69,029                     69,029 
Luxembourg                       - 
Netherlands 714,911           1,136,886     1,353,566   3,205,363 
New Zealand                 47,531     47,531 
Norway 3,343,076               2,710,414 710,767   6,764,256 
Sweden 1,560,398                 2,029,761   3,590,159 
Switzerland 433,548               12,767 175,557   621,873 
Chinese Taipei 78,881             33,802   103,571   216,254 
United Kingdom                 359,681 47,493   407,175 
United States 1,828,106               43,405 267,780   2,139,292 
Organizations:                         
UNOPS   598,619                   598,619 
Others:                         
Bureau Veritas International        17,658               17,658 
Cotecna International Ltd.        17,564               17,564 
Inchape Testing Services International Ldt.        17,658               17,658 
Inspectorate Griffith Ltd.       17,659               17,659 
Société Général de Surveillance       17,498               17,498 
WTO Members         913,671             913,671 
Total 16,933,884 598,619  1,128,654  88,036  913,671  311,255  1,136,886  33,802 4,121,142  8,632,284  384,818  34,283,051   
   WT/BFA/W/392  
 
- 87 - Table 77 WTO Trust funds - Balance due to donors as 31st December 2014 
Funds 
Doha development 
agenda global trust fund 
Enhanced integrated 
framework – Executive 
secretariat 
Mission internship 
programme 
Independent entity 
Program support fund 
Evaluation trust funds 
Trainee program 
Trade facilitation – 
National needs 
assessments 
Trade facilitation – 
Negotiating group 
STDF Standards and trade  
development facility 
China LDCs and 
accessions programme 
Total   
  
  
  
  
  
Donors 
Australia 1,684,321                   123,548    59,776    1,867,645 
Austria 397,251                               397,251 
Canada 515,537                         2,026,876    2,542,413 
China                               382,727 382,727 
Denmark 707,113                        945,189    1,652,302 
European Union               96,249               96,249 
Finland 259,938                           321,609     581,546 
France 1,012,689    879,882                        1,892,571 
Germany 1,983,575                        397,487     2,381,062 
Ireland 58,241    374,437             35,599    447,156    915,432 
Japan 574,913                 256,788   831,701 
Korea (Republic of) 531,581                     531,581 
Liechtenstein 56,510                     56,510 
Luxembourg 21,445                     21,445 
Netherlands 682,310           1,101,502     1,113,864   2,897,675 
New Zealand               48,763       48,763 
Norway 3,533,158             881,301 157,302 579,817   5,151,578 
Sweden 2,181,593             89,245 35,361 1,853,791   4,159,990 
Switzerland 606,144             13,098   257,956   877,197 
Chinese Taipei 110,283             33,802   73,237   217,322 
United Kingdom                 - 69,784   69,784 
United States 1,605,476             44,530   204,088   1,854,094 
Organizations:                         
UNOPS   2,108,234                   2,108,234 
Others:                         
Bureau Veritas International        17,674               17,674 
Cotecna International Ltd.        17,580               17,580 
Inchape Testing Services International Ldt.        17,674               17,674 
Inspectorate Griffith Ltd.       17,675               17,675 
Société Général de Surveillance       17,514               17,514 
WTO Members         977,613             977,613 
Total 16,522,077 2,108,234  1,254,318  88,116  977,613  96,249 1,101,502  1,269,886  192,663  8,607,419  382,727  32,600,804 
   
   WT/BFA/W/392  
 
- 88 - 4.5.7  Schedule G Interest earned in 2014  
Table 78 WTO Trust funds - Interest earned in 20146 
Funds 
 
 
 
 
 
 
Donors 
Doha development  
agenda global trust  
fund 
Enhanced 
integrated 
framework – 
Executive 
Mission internship 
programme 
Evaluation Trust 
Funds 
Trainee program 
Trade facilitation –  
National needs 
assessments 
Trade facilitation –  
Negotiating group 
STDF Standards 
and trade 
development 
facility 
China LDCs and 
accessions 
programme 
Total 
Australia 2,091      133  73  2,297 
Austria 350         350 
Canada 647        2,459   3,106 
China 18        465 483 
Denmar k 508        782  1,290 
European Union 6   9    192  207 
Estonia 20          20 
Finland 326       390  716 
France 954   756        1,709 
Germany 1,562        383  1,944 
Ireland 73   346    38  416  874 
Italy        12  12 
Japan 499        259  758 
Korea, Republic of 402         402 
Liechtenstein 39          39 
Luxembourg 27         27 
Netherlands 1,036     652   1,295   2,983 
New Zealand      25    25 
Norway 3,516      497 224 532  4,769 
Sweden 2,737      96 63 2,101   4,996 
Switzerland 760      14  313  1,087 
Chinese Taipei 138     36  89  264 
United Kingdom        85  85 
United States 1,208      48  232  1,487 
UNOPS  3,388        3,388 
Total 16,918  3,388 1,102  9 652 889 287 9,613  465 33,323 
                                               
6 No interests in 2015 due to the negative interest rate applied by the Swiss National Bank since April 2015. WT/BFA/W/392 
- 89 - 
 4.5.8  Schedule H World Trade Organization – Program Support Fund 
Table 79 WTO Program support fund 
  2015  2014  
Opening Balance 977,613  997,827  
Income 2,300,815  2,439,686  
Total income 3,278,428  3,437,513  
Retrocession to other 
organizations 278,207  433,179  
Salary costs 1,866,368  1,842,475  
Share of certain secretariat cost 220,181  184,247  
Total costs 2,364,757  2,459,900  
Closing balance 913,671  977,613  
 
Table 80 WTO Program support fund actual expenditure and overheads 
Funds Actual expenditure Overheads 
CHF 
13% of actual 
expenses 
   2015  2014  2015 2014  
Doha Development Agenda Global Trust Fund  7,693,152 8,271,427 1,000,110 1,075,286 
Enhanced Integrated Framework - Executive 
Secretariat 3,747,717 3,487,232 487,203 453,340 
Mission Internship Programme 826,429 833,310 107,436 108,330 
10th Ministerial Conference - LDCs 453,624   0   
Netherlands Trainee Programme 743,022 700,973 96,593 91,126 
Trade Facilitation Agreement Facility 248,861   32,352   
Trade Facilitation - National Needs Assessments   719,975   93,597 
Trade Facilitation - LDCs   181,963   23,655 
Standards and Trade Development Facility 4,012,046 4,488,442 521,566 583,497 
China LDCs and Accessions Programme 427,353 83,494 55,556 10,854 
Other extra budgetary funds:IE - Preshipment 
inspection         
Other extra budgetary funds:Program support fund         
Total  18,152,204  20,895,569  2,300,815 2,383,906  
 
  WT/BFA/W/392 
 
- 90 - 
 
  Table 81 Overheads shared with other organizations 
Overheads shared with other organizations Retrocession amount 
   2015  2014  
STDF - ITC 47,561 30,880 
STDF - FAO 3,937 297,864 
STDF - IICA 34,861 14,420 
STDF - OIRSA 6,782 8,738 
STDF - UNDP - 19,753 
STDF – CAB International 22,032 25,515 
STDF - FEEDLATINA 8,189 10,549 
STDF - COMESA - 15,592 
STDF - ISS 9,498 - 
STDF - Panamerican Health Association 3,638 - 
STDF - UNIDO 111,686 - 
TIFES - UNDP 23,211 -104 
TIFES - UNWTO  1,166 
DDAGTF - Pacific Island Forum Secretariat -275 - 
DDAGTF - UNESCAP 7,086 457 
DDAGTF - FORSEC  8,346 
DDAGTF - OCTA - - 
Total Retrocession 278,207 433,179 
Total Expenses 18,152,204 21,328,748 
Net Income - Programme Support Fund 
2,022,608 2,006,507 
(Overhead charges - Retrocession) 
 
 
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