RESTRICTED  
  
WT/BFA/W/365  
15 June 2015  
(15-3093)  Page: 1/83  
Committee on Budget, Finance and Administration   
  
   
  
 
  
 
   
 
  
WORLD TRADE ORGANIZATION 
2014 FINANCIAL PERFORMANCE REPORT 
 
 
  WT/BFA/W/365 
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 EXECUTIVE SUMMARY OF 2014 
1. In January 2014, The Director General launched a strategic review of key administrative 
policies and practices of the WTO. Four working groups were established to make recommendation on topics related to Management, Mobility, Promotions and Rules.  
2. Senior Management examined the portfolios of the WTO divisions. The Director General 
designed a grade structure that reflected the wish of the Members for a pyramidal set up. 
3. The WTO has 160 members (as of the end 2014) accounting for approximately 97 per cent 
of global trade. One new Member formally acceded to the Organization in 2014:Yemen.  
4. WTO renovation works including the common facilities project ended on 31
st October 2014. 
WTO facilities are now fully renovated and modernized. 
5. The 2014 structure of the financial statements reflects for the third year the International 
Public Sector Accounting Standards (IPSAS) a ccounting principles. Pension Liabilities and 
Pension Assets are expressed separately in order to better disclose information to third parties. These Standards 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 incr easing transparency and accountability. The 
adoption of IPSAS generated the disclosure of  pension benefit and after service health 
insurance
1 liabilities that have considerably deteriorated the financial situation of WTO 
Secretariat.  
6. The long term liabilities for pension and ASHI increased in 2014 as compared to 2013 due 
to the actuarial consequences of lowering of the discount rate applied (interest rates). In 
the related note of financial statements is reported an alternative scenario applying a 
different method of discount rate in order to  show how Pension and ASHI liability depend 
remarkably on external factors such as the discount rate.  
7. Budgetary expenditure amounted to CHF 182.7 million in 2014 compared to an approved 
budget of CHF 197.2 million. Budgetary savings amounted to a total of CHF 14.5 million. This budgetary saving was distributed across three parts of the budget as follows.  Savings 
of CHF 8.7 million have been achieved in part A of the budget on personnel related costs. 
This was mainly due to the high number of vacant posts, filled with some delay and in many instances at a lower grade. Part of this savings was used to provide extra resources to the Dispute Settlement Divisions and to the Appellate Body. Additional savings were 
generated by lower expenditure for translation and interpretation and through tighter 
controls on personnel requirements. It is unlikely that savings related to personnel will be repeated in the same volumes in the following year as vacant posts are currently filled 
more rapidly.  Savings of slightly more than CHF 5.7 million have been achieved in part B 
mainly on contractual services and communication costs in addition to savings generated in the area of travel, building facilities and permanent equipment. 
8. The 2014 budget was financed by Members' contributions amounting to CHF 195.6 million 
(including the contributions of one new Member) and miscellaneous income amounting to CHF 1.9 million. The miscellaneous income is higher than the CHF 1.7 million initially 
budgeted. This is mainly due to savings on foreign exchange. The collection of Member 
contributions has been satisfactory in 2014 with 93% of the assessed contributions 
received by the end of the year. The provision for contributions in arrears remained stable. 
9. The budgetary savings of CHF 14.5 million combined with a higher than expected level of 
miscellaneous income and assessed contributi on of CHF 0.3 million led to a budgetary 
result of 14.8 million for 2014. 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. 
10. For 2014, the financial result obtained according to IPSAS leads to a deficit of 
CHF 10.2 million and shows an opposite scenari o compared to the positive budget result. 
The discrepancy between Budget Result and Financ ial Deficit is mainly due to the negative 
                                               
1 After service health insurance refers to the health coverage system of retirees.  WT/BFA/W/365 
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 impact of the actuarial cost of Pension and After Service Health Insurance benefits for 
CHF 13.2 million and CHF 11.5 million respec tively and other accounting adjustments 
related to the IPSAS implementation such as depreciation among others. 
11. 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 2014, under the framework of these trust funds, e-learning courses in three languages were provided to 7'590 participants, costs related to 
16 interns from developing and least developed countries were covered, and well over 100 
general and specialized technical assistance, training and capacity building activities were organized. The balance of the DDAGTF during the course of 2014 amounted to CHF 16.5 million as at 31 December 2014. In 2014 the contributions made to the fund 
were CHF 7.8 million and the expenditure am ounted to CHF 9.3 million. The level of 
expenditure in 2014 was higher than in 2013 as well as the level of new contributions received was CHF 5 million higher than in the previous year. 
12. No ministerial conference took place in 2014. A call for contributions for the least 
developed countries will be necessary for the 10th Ministerial Conference meeting planned for December 2015.  WT/BFA/W/365 
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 TABLE OF CONTENTS 
WORLD TRADE ORGA NIZATION ....................................................................................... 1  
2014 FINANCIAL PERFOR MANCE REPORT ........................................................................ 1  
EXECUTIVE SUMMARY  OF 2014 ........................................................................................ 2  
1   INTROD UCTION  .......................................................................................................... 9  
1.1   Budget ..................................................................................................................... 9  
1.2   Outstandin g contributions .......................................................................................... 10 
1.3   Budget Breakdown ................................................................................................... 11 
1.4   Building capacity ...................................................................................................... 11 
1.5   Budget and fi nancial re sults ....................................................................................... 12 
2   BUDGET PE RFORMANCE ............................................................................................ 13  
2.1   2014 Income  ........................................................................................................... 13 
2.2   2014 Consolidated WT O Budget Pe rformance................................................................ 14 
2.3   2014 WTO Secretaria t Budget Perf ormanc e .................................................................. 15 
2.3.1   Part A - Staffing Resources ...................................................................................... 15 
2.3.2   Part B - Other Reso urces ........................................................................................ 17 
2.3.3   Part C - Operating Funds and ITC ............................................................................. 20 
2.3.4   Proposed transfers between budgetary  sections ......................................................... 21 
2.4   2014 Appellate Body and its Secretariat budget  perfor mance .......................................... 22 
2.4.1   Part A - Staffing Resources ...................................................................................... 23 
2.4.2   Part B - Other Reso urces ........................................................................................ 24 
2.4.3   Part C - Operating Funds and ITC ............................................................................. 24 
2.5   Proposed transfers be tween budgetary  sections ............................................................ 24 
2.6   Expenditure by Ke y Outputs and Projects ..................................................................... 25 
2.6.1   Dispute Settlement ................................................................................................ 25 
2.6.2   Informat ion Technology .......................................................................................... 26 
2.6.3   Technical Assistance ............................................................................................... 27 
2.6.4   Security .............................................................................................................. . 27 
2.6.5   Document s Reproduction ........................................................................................ 28 
2.6.6   Human Resource s Training Progra mme ..................................................................... 28 
2.6.7   Ou treach ..............................................................................................................  29 
2.6.8   Open Day ............................................................................................................. 29 
3   TRUST FUNDS PERFORMANCE ................................................................................... 29  
3.1   Doha Development Agenda Global Trust Fund ............................................................... 29 
3.1.1   General WTO-related tec hnical assistance and training ................................................ 32 
3.1.2   Specialized and advanced technical assistance training ................................................ 32 
3.1.3   WTO Chairs Programme (Academic support) .............................................................. 32 
3.1.4   Trainee progra mmes and in ternsh ips ........................................................................ 32 
3.1.5   E-learning ............................................................................................................. 32 
3.2   Internship Programme for Selected  Members' Missions in  Geneva (TIMM1) ....................... 33  WT/BFA/W/365 
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 3.3   Netherlands Trainee Programme (TNL05) ..................................................................... 34 
3.4   Trade Facilitation Trust funds – Window I – Participation of Capital-based Officials in 
the Negotiating Group Meetings (TTFNG) ............................................................................. 35 
3.5   Trade Facilitation National N eeds Assessments Trus t fund (TTFNA) .................................. 36 
3.6   Ministerial Conference – Partic ipation of Least-De veloped Countries ................................. 37 
3.7   Standards and Trad e Development Facility ................................................................... 37 
3.8   China LDCs and Acce ssions Programme  (TCLAP) ........................................................... 38 
3.9   Enhanced Integrated Framew ork Executive Secr etariat (TIFES) ....................................... 39 
3.10   Independent Entity – Pre-Shipme nt Inspection – De posits (T0013) ................................ 39 
3.11   Programme Suppo rt Fund (EPSF1 ) ............................................................................ 39 
4   FINANCIAL STATEMENTS .......................................................................................... 41  
4.1   Management lette r of repres entation ........................................................................... 41 
4.2   Opinion of th e external auditor ................................................................................... 42 
BUNDESRECHNUNGSHOF -  SUPREME AU DIT  INSTITUTION OF GERMANY .................... 42  
4.3   Financial statements ................................................................................................. 43 
4.4   Notes to the fi nancial statements ................................................................................ 47 
4.4.1   Note 1 Accounting policies....................................................................................... 47 
4.4.2   Note 2 Fina ncial risks policy .................................................................................... 51 
4.4.3   Note 3  IPSAS Opening Balance Adjustment ............................................................... 51 
4.4.4   Note 4 Cash and cash eq uivalents ............................................................................ 52 
4.4.5   Note 5 Receivables from Members, Observer s and Do nors ........................................... 52 
4.4.6   Note 6 Inventories ................................................................................................. 53 
4.4.7   Note 7 Other receivables ......................................................................................... 53 
4.4.8   Note 8 Advances and Prepayments ........................................................................... 54 
4.4.9   Note 9 Property , Plant and Equipment ...................................................................... 54 
4.4.10   Note 10 In tangible Assets ..................................................................................... 56 
4.4.11   Note 11  Accounts pa yable ................................................................................... 56 
4.4.12   Note 12  Assessed contributions paid in advance ..................................................... 56 
4.4.13   Note 13 Voluntary contributions refundable to donors ................................................ 57 
4.4.14   Note 14 Em ployee benefits .................................................................................... 57 
4.4.15   Note 15 Loan ....................................................................................................... 61 
4.4.16   Note 16 Work ing Capital fund ................................................................................ 61 
4.4.17   Note  17 Funds ..................................................................................................... 62 
4.4.18   Note  18 Revenue ................................................................................................. 62 
4.4.19   Note 19 Expenses ................................................................................................ 63 
4.4.20   Note 20 Segment reporting ................................................................................... 64 
4.4.21   Note 21 Reconc iliation with Budget ......................................................................... 65 
4.4.22   Note 22 Key management personnel ....................................................................... 66 
4.4.23   Note 23 Contingent asse ts and contingent  liabilities .................................................. 66 
4.4.24   Note 24 Commitments .......................................................................................... 67 
4.4.25   Note 25 Events after the reporting date ................................................................... 67  WT/BFA/W/365 
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 4.5   Sc hedules................................................................................................................  67 
4.5.1   Schedule A 2014 Statement of Contributions from Members 2014 ................................. 67 
4.5.2   Schedule B 2014 Early payment encourag ement sch eme ............................................. 70 
4.5.3   Schedule C Statement of Outstanding Contributions as 31 December 2014 – 
Members ....................................................................................................................... . 72 
4.5.4   Schedule D Statement of Outstanding Contributions as 31 December 2014 – 
Observers ..................................................................................................................... .. 75 
4.5.5   Schedule E Voluntary contributions received in 2014 and 2013 per donor and by 
fund ...............................................................................................................................  76 
4.5.6   Schedule F Balance due to donors as 31 December 2014 and 2013 ............................... 78 
4.5.7   Schedule G Interest earned in 2014 and 2013 ............................................................ 80 
4.5.8   Schedule H World Trade Orga nization – Progra m Support Fund .................................... 82 
Figures 
Figure 1 Budget Ev olution (MCHF) ...................................................................................... 10 
Figure 2 Outstanding Co ntributions (MCHF) ......................................................................... 10 
Figure 3 WTO 2014 Budget by part ..................................................................................... 11 
Figure 4 Key donors to Trust Funds since 2000 .................................................................... 12 
Figure 5 Trust Funds Co ntribution (MCHF) ........................................................................... 12 
Figure 6 2014 Staffing  Resources (kCHF) ............................................................................ 16 
Figure 7 Comparison Budget/Expend iture for regular staff (k CHF) ........................................... 16 
Figure 8 Comparison Budget/Expenditur e for Temporary Assi stance (k CHF) ............................. 17 
Figure 9 Comparison Budget/Expendit ure for General Services (kCHF) ..................................... 18 
Figure 10 Comparison Budget/Expenditure for Travel and Hosp itality (kCHF) ............................ 19 
Figure 11 Comparison Budget/Expenditure for Implementing Pa rtners (k CHF) .......................... 19 
Figure 12 Comparison Budget/Expenditur e for Capital Expe nditure (kCHF) ............................... 20 
Figure 13 Comparison Budget/Expenditure for Financial Expenditure (kCHF) ............................. 20 
Figure 14 Comparison Budget/Expenditur e for Operating Funds and ITC (kCHF) ........................ 21 
Figure 15 Expenditure by Key Outputs and Projects (kCHF) .................................................... 25 
Figure 16 Allocation of DDAGTF Resources 2014 ................................................................... 29 
Tables 
Table 1. WTO In come (k CHF) ............................................................................................ 13 
Table 2. Miscellaneou s Income (kCHF) ................................................................................ 13 
Table 3. 2014 Consolidated WTO Budget Performance (WTO Secretariat and Appellate 
Body Secretaria t) (kCHF) .................................................................................................. 14 
Table 4. 2014 Consolidated  Expenditur e (kCHF) ................................................................... 15 
Table 5. 2014 WTO Secretariat Budget Performa nce (kCHF) ................................................... 15 
Table 6. Proposed Transfers between Se ctions of the 2014 WTO Budget (kCHF) ........................ 22 
Table 7. 2014 Appellate Body and its Secretariat Budget Performance (kCHF) ........................... 23 
Table 8  ABOF expe nditure (k CHF) ..................................................................................... 24 
Table 9. Proposed Transfers between Sectio ns of the 2014 Appellate Body and its 
Secretariat Bu dget (kCHF) ................................................................................................ 24 
Table 10 Dispute Settlement Expe nditure – Pane ls (kCHF) ..................................................... 25 
Table 11 Dispute Settlement Expe nditure – Appe als (kCH F) ................................................... 26  WT/BFA/W/365 
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 Table 12. Information Techno logy Expendit ure (kCHF) .......................................................... 26 
Table 13. Technical Assistance Related Traini ng Courses by Expend iture Line (kCHF) ................. 27 
Table 14. Security Expenditure (kCHF) ................................................................................ 27 
Table 15. Documents Reproduction and Distribution Expenditure (kCHF) .................................. 28 
Table 16. Human Resources Trai ning Expendit ure (kCHF) ...................................................... 28 
Table 17. Public Forum Expenditure (kCHF) ......................................................................... 29 
Table 18. Doha Development Agenda  Global Trust F und (DDAGTF) ......................................... 30 
Table 19 Number of participants who successf ully completed an E-Learning course ................... 33 
Table 20. Mission Internsh ips Programme  (TIMM1) ............................................................... 34 
Table 21. Netherlands Trai nee Programme (TNL05) .............................................................. 35 
Table 22. Trade Facilitation–Participation of Capital-based Officials in the Negotiating 
Group Meetings (TTFNG) ................................................................................................... 36 
Table 23.Trade Facilitation National Needs Assessments Trust fund (TTFNA) ............................. 37 
Table 24.Ministerial Conference – Participat ion of Least-Developed Countries (TMI09) ............... 37 
Table 25. Standards and Trade De velopment Facili ty (TWB01) ............................................... 38 
Table 26 China LDCs and Accessions Programme (TCLAP) ...................................................... 38 
Table 27. Enhanced Integrated Framew ork Executive Secr etariat (T IFES) ................................ 39 
Table 28. Independent Entity – Pre-Shipment Inspection – Deposits (T0013) ............................ 39 
Table 29. Programme Support Fund (EPSF1) ........................................................................ 40 
Table 30 Statement of Financial Position ............................................................................. 43 
Table 31 Statement of Fi nancial Perf ormance ....................................................................... 44 
Table 32 Statement of Changes in Net Assets/Equity ............................................................. 45 
Table 33 Cash Flow Statem ent (Indirec t method) ................................................................. 46 
Table 34 Level of Provisions on  Outstanding Co ntributions ..................................................... 48 
Table 35 Class of Assets ................................................................................................... 49 
Table 36 Cash Situation .................................................................................................... 52 
Table 37 Receivables from Members and Observers .............................................................. 52 
Table 38 Provision for Arrears from Members an d Observers .................................................. 52 
Table 39 Inventor ies per type ............................................................................................ 53 
Table 40 Inventories per storage ........................................................................................ 53 
Table 41 Inventory Adjustments and write offs ..................................................................... 53 
Table 42 Other Receivables ............................................................................................... 53 
Table 43 Prepayments ...................................................................................................... 54 
Table 44 Building .............................................................................................................  54 
Table 45 Work in progress - Equipment ............................................................................... 55 
Table 46 Equipment ......................................................................................................... 55 
Table 47 Intangible Assets ................................................................................................ 56 
Table 48 Payables ............................................................................................................ 56 
Table 49 Contributions paid in Ad vance by Members and Obse rvers ........................................ 57 
Table 50 Voluntary contributions refundab le to donors (including advances) ............................. 57 
Table 51 Employee Benefits ............................................................................................... 57 
Table 52 Actuarial Assumptions .......................................................................................... 59  WT/BFA/W/365 
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 Table 53 Financial a ssets – Pe nsion .................................................................................... 59 
Table 54 Defined benefit obligation - Pension ....................................................................... 59 
Table 55 History of defined benefit obligation s and experience gains and losses - Pension .......... 60 
Table 56 Defined benefit obligation - ASHI ........................................................................... 60 
Table 57 History of defined benefit obligation s and experience gain s and losses - ASHI .............. 60 
Table 58 Working Capita l Fund St atement ........................................................................... 61 
Table 59 Funds ................................................................................................................ 62 
Table 60 Other Revenues .................................................................................................. 62 
Table 61 Staff Expenditures  including Trust Funds ................................................................ 63 
Table 62 Temporary Expenditur es including Trust F unds ........................................................ 63 
Table 63 Segments Fina ncial Performance ........................................................................... 65 
Table 64 Reconciliation between budg et result and fi nancial result .......................................... 66 
Table 65 Key manage ment personnel ................................................................................. 66 
Table 66 Contributions fr om Members in 2014  ..................................................................... 67 
Table 67 Interest to be dist ributed to Memb ers in 2016 ......................................................... 70 
Table 68 Outstanding contribution s as 31 December  2014 – Me mbers ..................................... 72 
Table 69 Outstanding contributions as 31 December 2014 - Obse rvers .................................... 75 
Table 70 WTO Trust funds - Voluntary contributions received in 2014 per donor and by 
fund ...............................................................................................................................  76 
Table 71 WTO Trust funds - Voluntary contributions received in 2013 per donor and by 
fund ...............................................................................................................................  77 
Table 72 WTO Trust funds - Balance due to donors as 31 December 2014 ................................ 78 
Table 73 WTO Trust funds - Balance due to donors as 31st December 2013 .............................. 79 
Table 74 WTO Trust funds - Interest earn ed in 2014 ............................................................. 80 
Table 75 WTO Trust funds - Interest earn ed in 2013 ............................................................. 81 
Table 76 WTO Progra m support fund .................................................................................. 82 
Table 77 WTO Program support fund actual expenditure and overheads ................................... 82 
Table 78 Overheads shared wi th other orga nizations ............................................................. 83 
  WT/BFA/W/365 
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 1  INTRODUCTION 
1.1.  In accordance with Financial Regulation  39 of the World Trade Organization (WTO), the 
Director-General submits the financial performance report of the WTO for the financial reporting period of 1 January 2014 through 31 December 2014. The report is presented in Swiss Francs 
(CHF). 
1.2.  This financial report is made of three parts. The first part provides information on the 
expenditure for all the activities financed by th e WTO regular budget. The second part provides 
information on the expenditure for all activities financed by extra-budgetary resources in trust 
funds. The third part presents the consolidated financial statements of the WTO Secretariat and includes the opinion of the External Auditor. 
1.3.  The World Trade Organization (WTO) deals with the rules for international trade. Its main 
function is to ensure that the multilateral trading system remains open, equitable and 
non-discriminatory. The areas of our activity are: 
a. Implementation and Monitoring of existing Trade Rules: various WTO bodies seek to 
ensure that WTO agreements are being properly implemented. All WTO Members 
undergo periodic scrutiny of their trade policies and practices. 
b. Trade Negotiations: changes to the rules of trade require the agreement of all WTO 
members, who must reach consensus through negotiations. 
c. Dispute Settlement: WTO Members bring disputes to the WTO if they think their rights 
under trade agreements are being infringed. 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 Doha Negotiations, with the aim of enhancing cooperation and increasing awareness of WTO activities. 
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 bie nnium. The 2014 Budget has been 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 represents the first year 
of the biennium 2014-2015.  WT/BFA/W/365 
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 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 more than 99% of the funding of the Budget. 
b. Miscellaneous income is mainly made of the sale of publications and royalties, savings or 
refunds on previous year's obligations and expenses, rental of meeting rooms and office space, 
contributions of Observers and a small overhead  fee collected on trust funds expenditure. 
1.2  Outstanding contributions 1.6.  The amount of outstanding Members' cont ributions over the past 15 years has remained 
globally stable with a decreasing trend in the last three years. Members who have more than one 
but less than two full year's assessed contributions at the end of the financial year are subject to administrative measures. There are now three categories of administrative measures depending on 
the number of years of outstanding contributions.  Members have the possibility to enter into a 
payment plan that suspends the administrative measures. Eight Members were part of such plans at the end of 2014. Two Members have been put back under administrative measures due to non-compliance with the plan. 
Figure 2 Outstanding Contributions (MCHF) 
  WT/BFA/W/365 
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 1.3  Budget Breakdown 
1.7.  The WTO Budget is divided into three parts an d eight sections by type of expenditure. Part A 
covers personnel related costs, part B covers ot her costs, and part C the Operating Funds and the 
WTO's contribution to the budget of the International Trade Centre (ITC). 
Figure 3 WTO 2014 Budget by part 
 
 
1.8.  The budget allocated to personnel-related expenditure represents around 75% of the total 
budget allocated to the Secretariat. The personnel-related budget includes all expenditures linked to salaries of regular, fix-term staff, temporary staff and consultants. Since 2009, provisions for 
accrued benefits such as home leave, education grant, family allowances and untaken annual leave 
have been gradually accounted for. The actuarial liabilities towards the WTO Pension Plan and for After Service Health Insurance (ASHI) have been assessed since 2010 and are disclosed in the 
notes to the financial statements, but they are not part of the budget. 
1.4  Building capacity 1.9.  The International Trade Centre UNCTAD/WTO (ITC) is the joint technical co-operation agency 
of the United Nations (UN) and the WTO for Trade Related Technical Assistance (TRTA). Originally 
created by the General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated since 
1968 under the joint aegis of 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. 
1.10.  In addition to its regular budget, the WTO obtains some voluntary contributions for selected 
programmes that are managed through trust funds. In 2014, 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.  WT/BFA/W/365 
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 Figure 4 Key donors to Trust Funds since 2000 
Denmark
5%Finland
4%Germany
7%
Netherlands
9%
Norway
10%
Sweden
13%
United States
6%European  Union
5%Others
41%
 
 
1.11.  The core of the WTO trade related activities 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 activities such as e-learning and training courses, 
academic support for training and capacity building as well as trainee programmes are also 
conducted. The DDAGTF also includes some staff expenditure directly or indirectly related to the delivery of the technical assistance activities. The proportion of voluntary contributions to the 
DDAGTF has decreased in recent years in favour of ear-marked funds. 
Figure 5 Trust Funds Contribution (MCHF) 
3221
1816192019 1920
1615
1214
8 000
1
0848711
1011
1311
13
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
DDAGTF contributions Other contributions
 
1.5  Budget and financial results 
1.12.  At the end of each financial period, a proposal is made to the General Council on the use of 
the balance of the surplus account. The balance of the surplus account includes the budgetary 
savings or deficit but also other income and expenditure which are not part of the budget (the 
provision for contributions in arrears, the write off and adjustment of publication inventories and the miscellaneous income that was not realised). A positive balance on the surplus account can 
either reduce Members' future contributions, be  transferred to the Working Capital Fund of the 
Organization or be used for any other purpose decided by the General Council. In case of a deficit,  WT/BFA/W/365 
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 it should be covered to the extent possible, by  a transfer from the Working Capital Fund. Any 
uncovered part should be included in the next year's budget. 
1.13.  The implementation of the International Public 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 
benefits. 
1.14.  In 2014, the WTO budget reported budgetar y savings of CHF 14.5 million and miscellaneous 
income for CHF 0.3 million which led to a positive budget result of CHF 14.8 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 that key role in the performance assessment. 
1.15.  For 2014 the final financial result obtained according to IPSAS amounts to a deficit of CHF 
10.2 million and shows an opposite scenario compared to the positive budget result. 
1.16.  The discrepancy between the subtotal resu lt (Budget Surplus) and the grand total IPSAS 
result (Financial Deficit) is mainly due to the negative impact of the actuarial cost of Pension and 
After Service Health Insurance benefits for CHF 13.2 million and CHF 11.5 million respectively 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  2014 Income Table 1. WTO Income (kCHF) 
 Budget  Actual Balance 
Contributions 195,500  195,554 54  
Miscellaneous income 1,704  1,954 250 
Grand Total 197,204  197,508 304  
 
2.1.  The total income of the WT O, excluding trust funds, amount ed to CHF 197.5 million in 2014. 
It is CHF 0.3 million above the budgeted amo unt. This is composed of some CHF 54,000 of 
additional contributions received due to the accession of a new Member (Yemen) and higher 
receipts under miscellaneous income detailed below: 
Table 2. Miscellaneous Income (kCHF) 
 Budget 2014 Receipts 2014 Balance 2014 
Contributions of Observer Countries 700  689 (11)  
Sale of Publications & Royalties 230 323 93 
Trust Fund contributions 180  184 4  
Refund of prior year's expenditure 200 160 (40) 
Rental of meeting rooms & office space  110  119 9  
Profit/Loss on foreign exchange - 206 206 
Other 284  274 (10)  
TOTAL 1,704  1,954 250 
 
2.2.  Under miscellaneous income, higher receipts were registered under sale of Publications, as 
well as under profit on exchange due to the exch ange rate development of the USD. Receipts on 
the rental of meeting rooms were also slightly higher than expected.   WT/BFA/W/365 
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 2.2  2014 Consolidated WTO Budget Performance  
Table 3. 2014 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 90,715  83,786 6,929  
  ii) Staff Pension & Post-Employment Benefits 21,987  20,391 1,596  
  iii) Staff Health & Invalidity Insurance 5,865  5,138 726  
  iv) Staff Family & International Benefits 11,244  10,127 1,116  
  v) Other Sta ff Expenditure 1,605  3,024 (1,418)  
 2. Temporary Assistance    
  i) Short-Term Staff 8,160  11,744 (3,583)  
  ii) Consulting 7,933  4,574 3,359  
  iii) Panellists & Appellate Body Member Fees 1,074  1,073 1  
A Staffing Resources Total 148,582  139,856 8,726  
B Other Resources     
 3. General Services 1,686  704 982 
 i) Telecommunication & Post    
  ii) Contractual Services & Maintenance 9,849  8,687 1,162  
  iii) Energy & Supplies 2,341  1,749 592  
  iv) Documentation & Publication 1,681  1,437 244 
  v) Other / Miscellaneous 244  366 (123)  
  4. Travel & Hospitality 7,245  5,851 1,395  
 i) Travel    
  ii) Hospitality 236 120 115 
  5. Implementing Partners    
 i) Implementing Partners 273 200 73 
  6. Capital Expenditure    
 i) Procurement of Fixed Assets 1,510  1,155 355 
  ii) Rental & Leasing of Equipment 1,457  507 950  
  iii) Building Enhancement Work - - - 
  7. Financial Expenditure    
 i) Bank & Interest Charges 30 24 6 
  ii) Building Loan Reimbursement 1,200  1,200 -  
B Other Resources Total 27,751  22,001 5,750  
C Operating Funds and ITC     
 8. Contributions to ITC & Special Reserves    
 i) Contribution to ITC 18,470  18,470 -  
  ii) Appellate Body  Operating Fund 1,800  1,800 - 
  iii) Ministerial Conference Operating Fund 600  600 -  
C Operating Funds and ITC Total 20,870  20,870 - 
Grand Total  197,204  182,728 14,476  
  WT/BFA/W/365 
- 15 - 
 
 Table 4. 2014 Consolidated Expenditure (kCHF) 
 Budget Actual Balance 
WTO Secretariat 190,899 176,694 14,205 
Appellate Body and its Secretariat 6,305 6,034 271 
Grand Total 197,204  182,728 14,476  
 
2.3  2014 WTO Secretariat Budget Performance 
Table 5. 2014 WTO Secretariat Budget Performance (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 1. Staff Expenditure    
 i) Staff Remuneration 88,231  81,572 6,659  
   ii) Staff Pension & Post-Employment Benefits 21,467  19,922 1,544  
   iii) Staff Health & Invalidity Insurance 5,713  5,014 699  
   iv) Staff Family & International Benefits 10,948  9,860 1,088  
   v) Other Staff Expenditure 1,562  2,972 (1,410)  
 2. Temporary Assistance    
  i) Short-Term Staff 8,116  11,437 (3,321)  
   ii) Consulting 7,933  4,574 3,359  
   iii) Panellists  315  366 (51)  
A Staffing Resources Total  144,285  135,719 8,566  
B Other Resources    
 3. General Services    
 i) Telecommunication & Post 1,645  702 944  
  ii) Contractual Services & Maintenance 9,831  8,687 1,144  
  iii) Energy & Supplies 2,321  1,739 582  
  iv) Documentation & Publication 1,671  1,410 261 
  v) Other / Miscellaneous 217  366 (150)  
 4. Travel & Hospitality    
  i) Travel 7,195  5,799 1,397  
  ii) Hospitality 235 116 119 
 5. Implementing Partners    
  i) Implementing Partners 273 200 73 
 6. Capital Expenditure    
  i) Procurement of Fixed Assets 1,485  1,155 330 
  ii) Rental & Leasing of Equipment 1,442  507 935  
  iii) Building Enhancement Work - - - 
 7. Financial Expenditure    
  i) Bank & Interest Charges 30 24 6 
  ii) Building Loan Reimbursement 1,200  1,200 -  
B Other Resources Total 27,544  21,904 5,640  
Operating Funds and ITC    
 8. Contributions to ITC & Special Reserves    
 i) Contribution to ITC 18,470  18,470 -  
  ii) Ministerial Conference Operating Fund 600 600 - 
C Operating Funds and ITC Total 19,070  19,070 -  
Grand Total   190,899  176,694 14,205  
 
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.  WT/BFA/W/365 
- 16 - 
 
 Figure 6 2014 Staffing Resources (kCHF) 
 
 
2.3.1.1  Staff Expenditure 
Figure 7 Comparison Budget/Expenditure for regular staff (kCHF) 
 
2.4.  The saving under Staff Remuneration is mainly due to the high number of vacant posts 
during the year, on average 41, thereof 5 Director posts. This is an early response to the Members' 
demand to establish a pyramidal grade structure for the Secretariat. The fact that for the last 
three years there had been no promotions other than though vacancy notices also contributed to the savings. Part of the savings was used to give extra resources to the Dispute Settlement 
Divisions and to the Appellate Body. Due to a very restrictive policy with respect to paid overtime, 
the related expenditure also resulted into a saving. 
2.5.  The 41 posts that have been vacant through 2014 will be filled in the course of the following 
year through prompt and streamlined recruiting processes, therefore the related savings on 
personnel costs will not be repeated in the same volumes. 
2.6.  Under Staff Pension and Post-Employment Benefits, a saving on Pensions was generated 
which is directly linked to salaries.  
2.7.  Under Staff Health and Invalidity Insurance, the projected increase of 4% with respect to the 
medical premiums did not materialize and therefore resulted into a saving.  WT/BFA/W/365 
- 17 - 
 
 2.8.  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. 
2.9.  Under Other Staff Expenditure, which relates to Removal, Installation and Separation of 
Staff, the overspending is mainly due to travel and removal expenditure for the Senior 
Management change at the end of 2013, as well as to increased expenditure under separation grant. The elements for the calculation of the provision for the separation grant according to IPSAS 
have also been reviewed. 
2.3.1.2  Temporary Assistance Figure 8 Comparison Budget/Expenditur e for Temporary Assistance (kCHF) 
 
2.10.  Under Temporary Assistance, the overspending in mainly due to the short term staff in the 
dispute-settlement divisions (CHF 2 million), which includes the project-based dispute settlement lawyers (between 12 and 16 during the year), as well as short term staff in the IT Division 
(CHF 1 million). The overspending in the IT Division is compensated under IT Consultants. 
Additionally, the overspending under Temporary Assistance covers for staff on leave without pay, staff on long term sick leave or vacant posts. 
2.11.  Under Translation and Interpretation, a saving of CHF 1.9 million was realised under 
Translation due to the fact that the majority of  the dispute settlement reports were not yet ready 
for translation in 2014 as well as due to the fact that the voluminous trade policy reports did not 
fall into 2014. An additional saving of CHF 0.7 million was generated under Interpretation, which is 
due to a lower number of meetings in the first semester of 2014, as well as to better coordination of the individual interpreter-teams. 
2.12.  Under Consultants, a saving of CHF 1.3 million was realized under IT-consultants, which is 
mainly compensated by the over-expenditure under short term IT staff. Additionally, a saving of 
CHF 0.5 million was achieved under the HR Traini ng Programme. Further savings are due to the 
reduction of consultant services related to the administration as well as re-negotiated contracts for 
the medical service. 
2.13.  Under Panellist Fees, the overspending is due to the increase in dispute settlement panels. 
However, the real impact will only be felt in 2015. 
2.3.2  Part B - Other Resources 
2.14.  Part B comprises the expenditure for general services, travel and hospitality, activities 
jointly funded by the WTO and third parties as  well as capital and financial expenditure.  WT/BFA/W/365 
- 18 - 
 
 2.3.2.1  General Services 
Figure 9 Comparison Budget/Expenditure for General Services (kCHF) 
 
2.15.  The saving under Telecommunication and Post is composed of a saving under postal 
expenditure of CHF 0.5 million and a saving und er telecommunication of CHF 0.4 million. The 
reduction of postal charges is due to the paperl ess 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 tele communication is the result of closer monitoring 
and re-negotiated rates for mobile phones. 
2.16.  Under Contractual Services and Maintenance, the overspending on building maintenance of 
CHF 0.3 million is largely offset by savings under the security outsourcing contract of 
CHF 0.7 million due to the establishment of the se curity perimeter in 2014, a saving on equipment 
maintenance due to lower maintenance cost of equipment for IT and document reproduction (CHF 0.2 million), and a saving on insurance due to re-negotiated rates (CHF 0.1 million). 
2.17.  Under Energy and Supplies, the saving on supplies (CHF 0.5 million) and electricity 
(CHF 0.7) million is partly offset by the oversp ending on heating and water (CHF 0.2 million). The 
saving on supplies is mainly due to lower purchases of supplies related to general services and 
building management following the renovation project as well as lower purchases of IT supplies. 
2.18.  The saving under Documents and Publications is primarily due to the fact that less books 
and subscriptions have been purchased for the WTO library. 
2.19.  Under Other/Miscellaneous, the expenditure und er 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.  WT/BFA/W/365 
- 19 - 
 
 2.3.2.2  Travel and Hospitality 
Figure 10 Comparison Budget/Expenditur e for Travel and Hospitality (kCHF) 
 
2.20.  The saving under Travel and Hospitality is largely due to the fact that technical assistance 
activities could be organised at a lower cost than originally projected (CHF 1.2 million). 
Additionally, a saving on the travel of panel lists of CHF 0.1 million was generated. Travel 
expenditure of senior management was also reduced. 
2.21.  Under Insurance related to mission travel, an overspending of CHF 0.1 million 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, which formerly 
included this part of the SOS insurance. 
2.22.  The saving under Hospitality is due to a very strict management of the hospitality budget. 
2.3.2.3  Implementing Partners Figure 11 Comparison Budget/Expenditur e for Implementing Partners (kCHF) 
 
2.23.  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/365 
- 20 - 
 
 2.3.2.4  Capital Expenditure 
Figure 12 Comparison Budget/Expendit ure for Capital Expenditure (kCHF) 
 
 
2.24.  The saving under Procurement of fixed assets includes a saving under hardware and 
software of CHF 0.3 million as well as a saving under security equipment of CHF 0.2 million due to 
the fact that the equipment for security has been  renewed during the building renovation project. 
This is partly offset by an overspending of CHF 0.1 million under audiovisual equipment. 
2.25.  Under Rental and Leasing of Equipment, th e saving of CHF 0.9 million is a result of the 
streamlining measures and the re-negotiation of several rental agreements. Additionally, the 
system of charging a lump-sum for the use of equipment has been changed into a system of 
charging the actual unit cost. 
2.3.2.5  Financial Expenditure 
Figure 13 Comparison Budget/Expendit ure for Financial Expenditure (kCHF) 
 
2.26.  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 charges, where a small saving has been realised. 
2.3.3  Part C - Operating Funds and ITC 
2.27.  Part C is related to the contribution to  the International Trade Centre and the operating 
funds of the WTO. 
 WT/BFA/W/365 
- 21 - 
 
 Figure 14 Comparison Budget/Expendit ure for Operating Funds and ITC (kCHF)  
 
2.28.  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. 
2.29.  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 take place every two years. In a non-Ministerial year, the Ministerial Operating Fund is 
replenished to provide funds for the following Mi nisterial 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 wa s renewed and credited to the MOF. 
2.3.4  Proposed transfers between budgetary sections 2.30.  In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order to cover excess expenditure over approved 
appropriations by savings. Authority is sought to increase these appropriations accordingly, as follows: 
 WT/BFA/W/365 
- 22 - 
 
 Table 6. Proposed Transfers between Sections of the 2014 WTO Budget (kCHF) 
 
Part Section Budget Expenditure Balance Proposed 
Transfers Revised 
Appropri-
ations Balance 
A Staffing 
Resources 1. Staff Expenditure 127,921 119,341 8,580 -14 127,907 8,566 
  2. Temporary 
Assistance 16,363 16,378 -14 14 16,378 0 
B Other 
Resources 3. General Services 15,685 12,904 2,781   15,685 2,781 
  4. Travel & 
Hospitality 7,430 5,915 1,515  7,430 1,515 
  5. Implementing 
Partners 273 200 73  273 73 
  6. Capital 
Expenditure 2,927 1,661 1,265  2,927 1,265 
  7. Financial 
Expenditure 1,230 1,224 6  1,230 6 
C 
Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves 19,070 19,070 0   19,070 0 
Grand Total 190,899  176,694  14,205  0 190,899  14,205  
 
  
2.4  2014 Appellate Body and its Secretariat budget performance 
2.31.  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 follows the same structure as the one used for the WTO Secretariat.  WT/BFA/W/365 
- 23 - 
 
 Table 7. 2014 Appellate Body and its Se cretariat Budget Performance (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 1. Staff Expenditure    
  i) Staff Remuneration 2,483  2,213 270  
    ii) Staff Pension & Post-Employment 
Benefits 520 469 51 
    iii) Staff Health & Invalidity Insurance 152  124 28  
    iv) Staff Family & International Benefits 296 267 29 
    v) Other Staff Expenditure 43  51 (8)  
  1. Staff Expenditure Total  3,494  3,125 369 
 2. Temporary Assistance    
   i) Short-Term Staff 45 306 (262)  
    iii) Appellate Body Member Fees 759  706 53  
  2. Temporary Assistance Total  804 1,013 (209)  
A Staffing Resources Total  4,298  4,137 160  
B Other Resources     
 3. General Services    
  i) Telecommunication & Post 41 3 38 
    ii) Contractual Services & Maintenance 18  - 18  
    iii) Energy & Supplies 20 10 10 
    iv) Documentation & Publication 10  27 (17)  
    v) Other / Miscellaneous 27 - 27 
  3. General Services Total  116  40 76  
 4. Travel & Hospitality    
   i) Travel 50  52 (2)  
    ii) Hospitality 1 4 (3) 
  4. Travel & Hospitality Total  51  56 (5)  
 6. Capital Expenditure    
   i) Procurement of Fixed Assets 25  - 25  
    ii) Rental & Leasing of Equipment 15 - 15 
  6. Capital Expenditure Total  40  - 40  
B Other Resources Total  207 96 111 
C Operating Funds and ITC    
 8. Contributions to ITC & Special Reserves    
  ii) Appellate Body  Operating Fund 1,800  1,800 -  
  8. Contributions to ITC & Special Reserves Total 1,800  1,800 - 
C Operating Funds and ITC Total 
  1,800  1,800 -  
Grand Total   6,305  6,034 271 
 
2.32.  The expenditure incurred by the Appellate Body and its Secretariat amounted to CHF 6 million in 2014. It led to an overall budget saving of some CHF 0.3 million.  
2.4.1  Part A - Staffing Resources 
2.33.  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. 
2.34.  The saving under Staffing Resources of CHF 0.1 million is composed of a saving under 
regular salaries due to vacant posts, which is partly offset by over-expenditure under temporary assistance linked to the temporary dispute settlem ent lawyers and additional interns. The saving 
under Appellate Body Member Fees relates to the fact that only 6 out of usually 7 Appellate Body 
Members received retainer fees for the full year. One new Appellate Body Member only arrived in 
October 2014.  WT/BFA/W/365 
- 24 - 
 
 2.4.2  Part B - Other Resources 
2.35.  Under Part B, the main part of the expend iture occurred under supplies, publications, travel 
and hospitality. Most of the other expenditure is  financed from the WTO regular budget and is not 
allocated to the Appellate Body Secretariat. 
2.4.3  Part C - Operating Funds and ITC 
2.36.  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 1.8 million in 2014 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. 
2.37.   The detail of the expenditure incurred by the ABOF in 2014 is presented in the following 
table. 
Table 8  ABOF expenditure (kCHF) 
Statement of Appellate Body Operat ing Fund Expenditure ('000 CHF)  
Opening Balance as at 1 January 2014 909 
Contribution from the regular budget of the Appellate Body and its Secretariat 1,800 
Expenditure in 2014:  
Appellate Body Members daily fees (971)  
Appellate Body Members travel expenditure (589)  
Oral hearings (120)  
Postage (9) 
Total expenditure (1,689)  
Closing balance as at 31 December 2014 1,020 
 
2.5  Proposed transfers between budgetary sections 
2.38.  In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections are necessary in order to cover excess expenditure over approved 
appropriations by savings. Authority is sought to increase these appropriations accordingly, as 
follows: 
Table 9. Proposed Transfers between Sect ions of the 2014 Appellate Body and its 
Secretariat Budget (kCHF) 
Part Section Budget Expen- 
diture Balance Proposed 
Transfers Revised 
Appropri-
ations Balance 
A Staffing Resources       
 1. Staff Expenditure 3,494  3,125  369 (209) 3,285 160 
  2. Temporary Assistance 804  1,013  (209)  209 1,013 -  
B Other Resources       
 3. General Services 116  40 76 (5) 111 71  
  4. Travel & Hospitality 51 56 (5) 5 56 - 
  6. Capital Expenditure 40  - 40  40 40  
C Operating Funds and ITC       
 8. Contributions to ITC & 
Special Reserves 1,800  1,800  -   1,800 -  
Grand Total 6,305  6,034  271 - 6,305 271 
  WT/BFA/W/365 
- 25 - 
 
 2.6  Expenditure by Key Outputs and Projects 
Figure 15 Expenditure by Key Outputs and Projects (kCHF) 
 
2.39.  The budget presented by key output and pr ojects represents some 40 % 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 2,017 (2,017)  
     iii) Panellists 290  366 (76)  
A Staffing Resources Total   290 2,383 (2,093)  
B Other 
Resources 3. General Services i) Telecommunication & 
Post 17 9 8  
  4. Travel & Hospitality i) Travel 730 591 139 
B Other Resources Total   747  600 147  
Grand Total   1,037  2,983 (1,946)  
 
2.40.  At the end of 2014, dispute settlement activity in the Secretariat was very high, with active 
panels in fourteen original disputes and five compliance proceedings under Article 21.5 of the DSU. 
Two additional panels had been composed but were  yet to begin work, awaiting availability of 
Secretariat staff. One panel which considered two similar disputes had completed its work, 
although its reports had yet to be circulated to Members as they were being translated. 
2.41.  High activity in dispute settlement was not a very recent phenomenon, as reflected in the 
fact that, as of 31 December 2014, panel reports in four separate matters, involving eight different 
Members, had been issued and were pending appeal or adoption by the Dispute Settlement Body 
(DSB). Nor did it appear as though dispute settlem ent activity would slow down in the near future. 
Four panels had been established and were awaiting  composition. In addition, formal consultations 
under Article 4 of the DSU were active in 18 new disputes. 
2.42.  In January 2014, the WTO Secretariat em ployed 14 Project Based Lawyers plus two 
temporary lawyers. In December this figure had dropped to 10 Project Based Lawyers and one temporary lawyer, as some temporary contra cts had been terminated during the year. 
2.43.  The budget allocation for fees paid to panellists was increased by CHF 50,000 from 2013 to 
2014, but, due to the surge in disputes, the amount was nevertheless insufficient to cover actual costs in 2014. A similar additional allocation of CHF 50,000 is foreseen to be necessary for 2015.  WT/BFA/W/365 
- 26 - 
 
 Table 11 Dispute Settlement Expenditure – Appeals (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 2. Temporary Assistance i) Short-Term Staff 0 338 (338)  
     iii) Appellate Body 
Members Fees 759 706 53  
A Staffing Resources Total   759 1,044 (285)  
B Other Resources     
 3. General Services i) Telecommunication & 
Post 35 1 34 
  4. Travel & Hospitality i) Travel 0  20 (20)  
    ii) Hospitality 0 5 (5) 
B Other Resources Total   35  26 9  
C Operating Funds and ITC     
 8. Contributions to ITC & Special 
Reserves ii) Appellate Body 
Operating Fund 1,800  1,800 0  
C Operating Funds and ITC Total   1,800  1,800 0 
Grand Total   2,594  2,870 (276)  
 
2.44.  The number, size and complexity of appeals have continued to increase over recent years. 
In 2014, appeals were heard in 11 disputes relating to 7 distinct matters. Three appeals are 
currently pending and it is confirmed that two appeals will be filed within the next month. In 
addition, four panel reports are currently in Tran slation and most of them will be appealed by 
autumn 2015. Moreover, other panel proceedings will  be completed in the latter half of the year 
which means that appeal activity will remain high. At the same time, appeals are getting more and 
more complex and also the size of the reports increa ses. Over the last four years, the size of the 
reports has risen significantly. 
2.45.  Under Dispute Settlement expenditure related to appeals, the over-expenditure is, as at the 
panel stage, linked to the expenditure for the Pr oject based lawyers and to interns. The Appellate 
Body employed 2 project based lawyers during 2014. 
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 1,042 (1,002)  
    ii) Consulting 2,633  1,458 1,175  
A Staffing Resources Total   2,673  2,500 173 
B Other Resources     
 3. General Services i) Telecommunication & Post 674 202 472 
    ii) Contractual Services & 
Maintenance 3,225  3,236 (11)  
    iii) Energy & Supplies 270 132 138 
  4. Travel & Hospitality i) Travel 15  10 5  
    ii) Hospitality 1 - 1 
  6. Capital Expenditure i) Procurement of Fixed Assets  1,180  890 290  
    ii) Rental & Leasing of 
Equipment 132 99 33 
B Other Resources Total   5,497  4,571 926  
Grand Total   8,170  7,071 1,099  
 
2.46.  Under the IT Expenditure, the saving is composed of a reduction in telephone and postal expenditure, as well as a saving under the purcha se of hardware and software (procurement of 
fixed assets), lower purchases of IT supplies and a saving under IT consultants, which is mainly 
due to technical issues linked to the design an d re-organization of the DOMOS project and the 
introduction of a new ERP upgrade, which concentrated a lot of IT resources which could not be 
allocated to other projects.  WT/BFA/W/365 
- 27 - 
 
 2.6.3  Technical Assistance 
Table 13. Technical Assistance Related Trai ning Courses by Expenditure Line (kCHF) 
 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 2. Temporary Assistance i) Short-Term Staff 4 - 4 
    ii) Consulting 243  127 116  
A Staffing Resources Total   247 127 120 
B Other Resources     
 3. General Services i) Telecommunication & Post 87 25 62 
    iii) Energy & Supplies -  6 (6)  
    iv) Documentation & 
Publication 33 18 15 
  4. Travel & Hospit ality i) Travel 4,061  3,072 990  
    ii) Hospitality 50 25 25 
  5. Implementing Partners i) Implementing Partners 70  2 68  
B Other Resources Total   4,301  3,147 1,153  
Grand Total   4,548  3,274 1,273  
 
2.47.  The major part of the savings realized under the technical assistance related training courses is due to the fact that the costs for air-tickets were lower than originally planned. Only one 
training course was cancelled. An additional saving has been generated under consultants. 
2.6.4  Security Table 14. Security Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
B Other Resources     
 3. General Services ii) Contractual Services & 
Maintenance 4,113  3,379 734 
    iii) Energy & Supplies 25  14 11  
  4. Travel & Hospitality i) Travel 130 126 4 
  6. Capital Expenditure i) Procurement of Fixed Assets 235  24 211  
    ii) Rental & Leasing of 
Equipment - 1 (1) 
B Other Resources Total   4,503  3,543 960  
Grand Total   4,503  3,543 960 
 
2.48.  Under the output Security, a saving has be en generated related to the security outsourcing 
contract. This is due to the establishment of the security perimeter during 2014 as well as to the re-negotiation of the contract for security outsourcing, which has been implemented at the 
beginning of 2014. An additional saving has been realised under security equipment, due to the 
renewal of the security equipment following the renovation project.  WT/BFA/W/365 
- 28 - 
 
 2.6.5  Documents Reproduction 
Table 15. Documents Reproduction an d Distribution Ex penditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 2. Temporary Assistance i) Short-Term Staff 170 178 (8) 
A Staffing Resources Total   170  178 (8)  
B Other Resources     
 3. General Services ii) Contractual Services & 
Maintenance 90 44 46  
    iii) Energy & Supplies 479 438 41 
  6. Capital Expenditure i) Procurement of Fixed Assets -  - -  
    ii) Rental & Leasing of 
Equipment 1,281  407 873 
B Other Resources Total   1,850  890 960  
Grand Total   2,020  1,068 952 
 
2.49.  With respect to Documents Reproduction and Distribution, the major part of the saving 
relates to the rental and leasing of equipment for reproduction. This is partly due to the 
streamlining measures of the Secretariat in order to reduce the amount of official documentation being printed as well as the negotiation of new rental agreements. Additi onally, the system of 
charging a lump-sum for the use of equipment has been changed into a system of charging the 
actual unit-cost. 
2.6.6  Human Resources Training Programme Table 16. Human Resources Tr aining Expenditure (kCHF) 
Part Section Line Account Description Budget Expen-
diture Balance  
A Staffing Resources      
 2. Temporary 
Assistance ii) Consulting Consulting Firms & 
Employment Agencies 795 329 466 
      Special Service 
Agreement 200 174 26 
A Staffing Resources Total     995 503 492  
B Other Resources      
 3. General 
Services v) Other / 
Miscellaneous Membership and 
Registration Fees 180 337 (157) 
  4. Travel & 
Hospitality i) Travel Air & Rail Transportation 250 224 26 
    ii) Hospitality Hospitality & Meeting 
Refreshments 100 21 79 
B Other Resources Total      530 582 (52)  
Grand Total 
      1,525 1,085 440 
 
2.50.  Under the Human Resources Training Programme, a saving under consultants and special 
service agreements has been achieved, which is  partly offset by an overspending under 
membership and registration fees. 
2.51.  The majority of the training budget was spent on the following items: 
a. Functional training (53%): this relates to training to assist staff with the substantive 
elements of their work, for example training in  the area of trade, statistics, IT training 
for staff in the IT division. 
b. Language and communication skills training (13%) 
c. Management training (10%) 
2.52.  The savings resulted from a change in strategy. CHF 200,000 had been allocated in the 
Training Plan for consultants to assist with Corporate Change Initiatives e.g. the Strategic Review 
Programme. In the end, these activities were undertaken by staff members.  WT/BFA/W/365 
- 29 - 
 
 2.53.  Another CHF 200,000 had also been set aside to address Corporate Systems and Processes 
(e.g. Process Mapping/Business Process Re-Engineering). However, given the scale and focus of the Strategic Review Process, there was limited opportunity to introduce yet another corporate initiative. 
2.6.7  Outreach 
Table 17. Public Forum Expenditure (kCHF) 
Part Section Line Budget Expenditure Balance 
A Staffing Resources     
 1. Staff Expenditure i) Staff Remuneration - 10 (10) 
  2. Temporary Assistance  i) Short-Term Staff 100  116 (16)  
A Staffing Resources Total   100 126 (26) 
B Other Resources     
 3. General Services ii) Contractual Services & 
Maintenance 30 16 14 
    iii) Energy & Supplies 30  41 (11)  
    iv) Documentation & 
Publication 60 75 (15) 
  4. Travel & Hospitality i) Travel 110  34 76  
    ii) Hospitality 20 12 8 
B Other Resources Total   250  178 72  
Grand Total   350 304 46 
 
2.54.  The majority of the budget for the Public Forum has been spent in 2014. Savings were 
realized under travel costs for consultants. 
2.6.8  Open Day 2.55.  No open day took place in 2014. 
3  TRUST FUNDS PERFORMANCE 
3.1.  This part describes the activities performed in 2014 using extra-budgetary funds. The 
flagship of the WTO's trust funds is the Doha Development Agenda Global Trust Fund (DDAGTF). 
While there are several smaller funds that address specific purposes, it is the policy of the WTO to 
encourage the consolidation of most trade-related technical assistance under this global trust fund. 
3.1  Doha Development Agenda Global Trust Fund Figure 16 Allocation of DDAGTF Resources 2014 
General WTO-Related 
T. A.
41%
Specialized and 
Advanced T. A.
23%Academic Support
6%Trainee Programmes 
and Internships
4%Staff Costs and Other 
Programmes
26%Expenditure by chapter
 
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.  WT/BFA/W/365 
- 30 - 
 
 Table 18. Doha Development Agenda  Global Trust Fund (DDAGTF)  
Financial Report Summary ('000 CHF)  2014 2013 
Funds as at 1 January  18,058 12,417  
Contributions received 7,793 13,619  
Interest earned  18 12  
Total funds 25,869 26,048  
Total expenditures (9,347) (7,989)  
Balance as at 31 December 16,522 18,058  
 
3.3.  The Doha Development Agenda Global Trust fund (DDAGTF) was established in 
December 2001 to finance technical assistance pr ogrammes and training activities for developing 
and least-developed countries as well as economies in transition. One of the main purposes for creating a global fund was to consolidate the numerous extra-budgetary funds in a single un-earmarked fund, so as to provide a stable financ ial basis for the delivery of the TA plan adopted 
by Members. The activities supported by the DDAGTF are intended to: enhance institutional and 
human capacity in beneficiary countries; address trade policy 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. 
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 three 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 results based management (RBM) are being incorporated 
into the WTO's TA Plans as approved for the biennium 2014-15. 
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 Plan includes a mix of TA products that are consistent with the Progressive Learning 
Strategy. Each product targets different needs, objectives, audiences and levels of knowledge. 
3.11.  The TA products can be grouped broadly in five main categories: 
a. E-learning/Self Training Courses – Takes fu ll advantage of information technology and 
the Internet as a complement as well as an alternative to traditional training  WT/BFA/W/365 
- 31 - 
 
 programmes. These offerings consist of differe nt 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 WT O responsibility and a general knowledge of 
the multilateral trading system. The main purpose is to initiate officials in the rules and 
functioning of the WTO and/or to raise the general level of knowledge and provide 
opportunities for them to increase their skills. Relevant activities can be held in Geneva or in the field. 
c. Specialized and advanced technical assistance training – National/regional seminars and 
workshops as well as specialized courses for the initiated and 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 bu ilding – Activities that focus on building 
partnerships with trade policy-related academic community members in Member 
countries (e.g. workshops for university professors on WTO matters, support 
programmes for doctoral students, programme for visiting academics, research 
collaboration and document dissemination for universities). 
e. Trainee programmes and internships – They provide an opportunity for junior officials to 
get first hand exposure to the functioning of the multilateral trading system (MTS) 
and/or to provide support to the respective beneficiaries' regional secretariats to the 
WTO. 
3.12.  In addition to the direct costs of the vari ous training activities, some staff costs related to 
the delivery of the technical assistance activities are funded from the DDAGTF. 
3.13.  TRTA programmes implemented under the DDAGTF in 2014 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 activities contained in the Plan. This represented a decrease from the prior years 
where the target amount was CHF 18 million. The new target largely reflected the capacity of Members to participate in, and the WTO to implement, these types of activities. 
3.14.  Historically, actual expenditures from the DDAGTF have been around CHF 18 million. 
However, expenditure levels both in 2012, 2013 and 2014 fell considerably below this target. 
3.15.  The DDAGTF is a revolving fund, i.e. the remaining balance at the end of a year is carried 
forward to the next year of the fund's operation and counts toward meeting the periodic 
benchmarks set for contribution receipts as follows: 
a. 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. 
3.16.  This approach is designed to allow smooth and effective implementation, through adequate 
and timely receipt of funds. 
3.17.  In 2014, the actual level of contributions started the year ahead of the benchmarks due to 
the carry forward of a strong balance at the end of  2013. A slow rate of contributions in the first 
9 months of the year meant that contributions fell  behind the benchmarks in the second quarter, 
but by the end of the year the benchmark of 100% was met: 
a. 131% was in the bank at 31 December 2013; 
b. 131% was in the bank at 31 March 2014; 
c. 132% was in the bank at 30 June 2014;  WT/BFA/W/365 
- 32 - 
 
 d. 152% was in the bank at 30 September 2014; 
e. 179% was in the bank at 31 December 2014. 
3.18.   The level of new contributions received in 2014 was ultimately 40% lower than in the 
previous year and the number of donors was stable with a decrease from 14 in 2013 to 13 in 
2014. 
3.19.  Main activities implemented in 2014, many of which were undertaken in partnership with 
other agencies and bodies, include: 
3.1.1  General WTO-related tec hnical assistance and training 
a. Seven two-month Regional Trade Policy Courses (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 five regional and sub-regional training 
courses of shorter duration. 
c. Four short trade policy courses for Africa and for Latin America. 
3.1.2  Specialized and advanced technical assistance training 
a. Seventeen topic-specific regional seminars (on Agriculture, Government Procurement, 
Non-Agriculture Market Access, Sanitary and Phytosanitary Measures, Services, 
Technical Barriers to Trade, Trade and Enviro nment, Trade Facilitation and Trade-Related 
Aspects of Intellectual Property). 
b. Six intensive courses on trade negotiation skills. 
c. Six outreach activities for parliamentarians and civil society. 
d. The establishment or upgrading of reference centres in Burundi, Swaziland, Comoros, 
Mali, Solomon Islands and Saint Vincent and the Grenadines. 
3.1.3  WTO Chairs Prog ramme (Academic support) 
a. One conference and board meeting. 
b. WTO Grants to seven new WTO Chairs. 
c. The support programme for seven doctoral students. 
3.1.4  Trainee programmes and internships 
a. Nine Regional Coordinator Internships. 
3.1.5  E-learning 3.20.  In 2014, E-Learning continued to deliver its online courses in the three official languages on 
a nonstop basis all year round. This new approach in the delivery of the courses, which started in 
2011, has permitted to respond to the increasing demand for E-Learning courses from Members and to better contribute to the capacity building  of the WTO in line with the PLS (Progressive 
Learning System) and RBM (Result Based Management).  
3.21.  In 2014, the good quality of the training resulted in an excellent output.  The number of 
successful participants has increased to 4647 participants (12% increase compared to 2013) and 
the share of successful participants that obtain a certificate with distinction rose to 35%. The 
statistics highlight the trend toward quality training identified in E-Learning over the past five years. 
3.22.  Four new courses were launched in 2014: "Regional Trade Agreements", "Transparency and 
the WTO: Notification Obligations", "Made in ...: Understanding Rules of Origin" and "WTO in 10'", 
all of which using latest instructional design. These courses apply a newly developed pedagogical approach making use of the latest instructional design, for example interactive course elements. 
The course "WTO in 10' " is a new type of training aiming at boosting WTO outreach. This course is 
based on a new learning by doing approach (exercises only) and is centred on a learning story. 
3.23.  In 2014, synergies were developed between E-Learning and the WTO NTPs/MIPs/RCIs-
programmes.  Following the successful implementation of a joint delivery of online introduction  WT/BFA/W/365 
- 33 - 
 
 courses by the E-Learning and selected interns from the Netherlands Trainee Programme (NTP) in 
2014, NTPs will continue to be involved as assist ant tutors in the organization of a number of 2015 
online courses.   
3.24.  The E-Learning website was upgraded and a new website – the WTO ECampus – was 
developed.  The ECampus is dedicated to WTO on-line TA and includes functionalities that are 
compatible with mobile devices. 
3.25.  Tailored virtual classrooms for face-to-face activities have been implemented in 2014. An 
Alumni platform for interns from the NTPs/MIPs/RCIs-programme was tested with a view to 
offering Alumni platforms to different types of face-to-face TA programmes in 2015 - as a follow-up activity and way to develop WTO TA communities and networks.  
Table 19 Number of participants who succe ssfully completed an E-Learning course 
Year Number of participants 
2010 2,392 
2011 2,890 
2012 3,023 
2013 5,645 
2014 7,590 
 
3.26.  Africa remains the region with the highest number of participants.  Participants from French-
speaking Africa represent 27% of all participants - an increase by 2%. Participation from Latin-America increased by 6% to 24%. One third of all participants are from an LDC. 
3.2  Internship Programme for Selected  Members' Missions in Geneva (TIMM1) 
3.27.  The internship programme for the benefit of Geneva-based Missions of LDCs and small and 
vulnerable economies with very few staff was established in 2001. The purpose of this Programme 
is (i) to enhance the interns' knowledge and under standing of the multilateral trading system and 
of trade policy in general; (ii) to strengthen the understanding of the negotiation process at the 
WTO; and (iii) to support the Mission in participating more actively in the daily activities at the WTO. 
3.28.  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. 
3.29.  The programme is open to nationals of developing and least-developed countries as well as 
economies in transition with a Geneva Mission. The required qualifications include: (i) an 
appropriate degree in economics, trade and/or law at the post-graduate level; (ii) mastery of one 
of the WTO working languages and preferably a good knowledge of another; (iii) working 
experience in the national administration in the trade-related area; (iv) good drafting skills; and 
(v) operational familiarity with standard software packages. Support function positions are not 
considered part of this programme. 
3.30.  Interns are selected by the Institute for Training and Technical Cooperation and the Human 
Resources Division of the WTO together with the Mission concerned. The selection criteria are 
similar to those for entry-level positions at the WTO. Special consideration is given to those 
candidates who will be using their experience upon returning to their country. LDCs and other developing countries with low per-capita GNP and those countries with very few staff positioned in 
Geneva Missions are given preference. 
3.31.  The beneficiary Mission establishes a general description of the assignment in advance. A 
more detailed programme of work for each intern is prepared by the Permanent Representative of 
the Mission in Geneva, after the candidate has been selected.  WT/BFA/W/365 
- 34 - 
 
 3.32.  The general duties might include: 
a. assistance in collection, analysis, interpretation and organization of material of interest 
to the Mission; 
b. assistance in the preparation of meetings of WTO bodies, including attendance and 
follow-up of such meetings; 
c. assistance in preparation of reports for the capital, documents and communications of 
economic and/or legal nature related to the WTO; 
d. assistance in other tasks undertaken by the Mission. 
3.33.  The evaluation of the intern's work by the Mission takes place at mid-term and at the end of 
the assignment and is shared with the WTO. Further evaluation of the usefulness of this programme takes place one year after the end of the internship. 
3.34.  In 2014, this fund financed the costs related to 16 interns from the following countries: 
Angola, Bangladesh, Bhutan, Cambodia, Ghana, Haiti, Honduras, Kyrgyz Republic Sierra Leone, Sudan *2, Tajikistan, Togo, Vanuatu, Yemen and Zimbabwe. 
Table 20. Mission Internships Programme (TIMM1) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January  1,405 1,909  
Contributions received  789 802 
Interest earned  2 1  
Total funds 2,196 2,712  
Total expenditures  (942) (1,307)  
Balance as at 31 December  1,254 1,405  
 
3.3  Netherlands Trainee Programme (TNL05) 
3.35.  The Netherlands Trainee Programme was launched on 1 April 2005 and was to be completed 
by 31 December 2008. In November 2008, the Government of the Netherlands extended the period of application of the arrangement for four  more years, i.e. until the end of 2011. In 2013 
the WTO was given authority to continue to expend the remaining balance from the prior 
arrangement and a new multiyear arrangement was signed to continue the programme from 2014 to 2017. 
3.36.  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. 
3.37.  The Programme provides junior public officials with the opportunity to learn about matters 
dealt with in the WTO. The target group of candidates who can qualify for the Programme are junior professionals from trade and development-re lated ministries, private sector organizations, 
university graduates, participants in trade policy courses and other suitable candidates with 
adequate knowledge of the WTO. 
3.38.  Trainees spend a total period of up to ten months with the WTO and are expected to 
complete well defined tasks in that period which are relevant for the beneficiary country in terms 
of capacity building and/or in 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;  WT/BFA/W/365 
- 35 - 
 
 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. 
3.39.  The candidates are selected by the Secretar iat, from applications and nominations proposed 
by the beneficiary countries. 
3.40.  Trainees work full-time like Secretariat staff members and carry out tasks and duties 
assigned to them but with no expectancy of renewal or extension of the traineeship beyond ten 
months. Following the completion of their assignments, trainees are expected to provide an 
evaluation report with detailed information of the tasks accomplished and an assessment of their 
relevance for the candidate and the beneficiary country. 
3.41.  The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 129 at the end of 2014. 
3.42.  The trainees who were on board in 2014 were from Algeria, Cameroon, Central African 
Republic, Chad, Comoros, The Gambia, Madagascar, Malawi, Mongolia, Myanmar, Papua New 
Guinea, Paraguay, Samoa, Senegal and Uganda. 
3.43.  Fourteen new trainees are scheduled to take up their duties in early 2015. Table 21. Netherlands Trainee Programme (TNL05) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 143 1,054  
Contributions received 1,750 - 
Interest earned  1 -  
Total funds 1,894 1,054  
Total expenditures (792) (911)  
Balance as at 31 December 1,102 143 
 
3.4  Trade Facilitation Trust funds – Window I – Participation of Capital-based Officials 
in the Negotiating Group Meetings (TTFNG) 
3.44.  The mandate for WTO negotiations on trade facilitation provides that technical assistance 
should be provided during the negotiations to ensure that developing and least-developed countries fully participate in and benefit from the negotiations. (WT/L/579 – Annex D- adopted in 
July 2004) Paragraph 5 of the Mandate states: 
a. It is recognized that the provision of technical assistance and support for capacity building is 
vital for developing and least-developed countries to enable them to fully participate in and benefit 
from the negotiations. Members, in particular developed countries, therefore commit themselves 
to adequately ensure such support and assistance during the negotiations. 
3.45.  In connection with this paragraph, paragr aph 38 of the Doha Ministerial Declaration also 
addresses relevant technical assistance and capacity building concerns of Members. 
3.46.  Negotiations on Trade Facilitation are co nducted through meetings of the Negotiating Group 
on Trade Facilitation (NGTF) which consists of representatives of all WTO Member and Observer countries. African and LDC countries have continuously stressed the importance of technical 
assistance to bring specialists from their capitals to advice on the technical issues during these 
meetings. The discussions in the NGTF focus on proposals concerning border fees and formalities, transparency issues, transit and special and differe ntial treatment. Because of the technical nature  WT/BFA/W/365 
- 36 - 
 
 of these proposals, most developed and advanced developing countries bring experts from their 
capitals, especially customs officials, to participate in the meetings and advise the negotiator on technical issues. Participation by capital-based expert officials not only provides more effective responses to issues raised during the meeting but also results in more effective support from the 
capital due to increased understanding of the negotiation proposals and process. Bringing technical 
specialists from African and LDC countries allows them to negotiate actively on the technical issues as well. 
3.47.  This programme began in 2008. In order to ensure that the appropriate officials 
participated, each African and LDC countries were asked to nominate two officials that met certain qualifications. The WTO Secretariat revi ewed the nominations and selected the most 
qualified person from each country. The letter of invitation set out the following qualifications: 
a. fluent in reading, speaking and working in  one of the three WTO official languages; 
b. supports the national Geneva negotiator in the WTO trade facilitation negotiations; 
c. has technical expertise in the customs-related measures that are under negotiation; 
d. has participated in, or will participate in, the national WTO trade facilitation needs 
assessment; 
e. is available for the dates of the NGTF meeting and will participate if selected. 
3.48.  The WTO Secretariat invited officials to pa rticipate in two meetings of the NGTF in 2014 as 
follows: 
a. 51 participants participated in the NGTF meeting held 26-28 May 2014. 
3.49.  According to African and LDC negotiators th is programme is crucial to ensure that their 
countries participate fully and effectively in the negotiations. Many delegates have remarked that 
not only has the number of countries active in the negotiations improved but the technical level of the involvement has improved and has gone well beyond the traditional interventions in the area 
of special and differential treatment. This was due to increased understanding and awareness of 
the negotiations in large part because of this programme as well as the WTO Trade Facilitation Needs Assessment Programme. 
Table 22. Trade Facilitation–Participation of Capital-based Officials in the Negotiating 
Group Meetings (TTFNG) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 355 335  
Transfer from Trade Facilitation Needs Assessment Fund (25) - 
Contributions received  68 399  
Interest earned  1 - 
Total funds 399 734  
Total expenditures  (206) (379)  
Balance as at 31 December 193 355  
 
3.5  Trade Facilitation National N eeds Assessments Trust fund (TTFNA) 
3.50.  In the context of negotiations on trade fa cilitation, Members are encouraged to assess their 
trade facilitation needs and priorities. To assist developing and LDC Members in this endeavour the 
Trade Facilitation National Needs Assessments Trust Fund provides technical assistance to eligible 
Members. The fund, originally in operation between 2007 and 2010, was, at the request of Members, reactivated in 2012. New contributions to the fund began to arrive at the end of 2012. In 2014, this fund received total contribution s of CHF 1.42 million and 25 activities were 
implemented. Activities and further contribu tions are expected to continue into 2015. 
3.51.  TTFMG and TTFNA programs have been closed on December 31
st. They will be replaced by 
the program Trade Facilitation Agreement Facility.  WT/BFA/W/365 
- 37 - 
 
 Table 23.Trade Facilitation National Needs Assessments Trust fund (TTFNA) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 655 507  
Contributions transfer to TTFNG - - 
Contributions received 1,427 1,280  
Contribution reimbursement United Kingdom - - 
Interest earned  2 1  
Total funds 2,084 1,788  
Total expenditures  (814) (1,132)  
Balance as 31 December 1,270 655 
 
3.6  Ministerial Conference – Particip ation of Least-Developed Countries  
3.52.  Starting with the 1st WTO Ministerial Conference held in Singapore in 1996, the WTO 
Secretariat has facilitated the participation of Least-Developed Countries (LDCs) in the Ministerial Conferences, thanks to voluntary contributions p ooled into a special extra-budgetary fund.  Costs 
related to air travel, accommodation and per diem allowances of LDC delegations comprised of one 
minister and two high level officials are covered.   There was no Ministerial Conference in 2014. 
Table 24.Ministerial Conference  – Participation of Least-Developed Countries (TMI09) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January - 391,096 
Contributions received  - 197,120 
Interest earned  - 282 
Total funds - 588,498 
Total expenditures - (588,498) 
Balance as at 31 December - - 
 
3.53.  At the end of a given Ministerial Meeting, the remaining balances in favour of the various 
donors are traditionally carried forward and added to the new contributions to be utilized for the 
same purpose in the subsequent Conference unless the donor requests a reimbursement. 
However, at the end of 2013 the fund was fully depl eted covering expenses for the Bali Ministerial 
Conference. A call for contributions will be necessary in anticipation of the 10th Ministerial Meeting planned for 2015 if Members wish to continue this initiative. 
3.7  Standards and Trade Development Facility  
3.54.  The Standards and Trade Development Facili ty (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 capacity to implement international sanitary and phytosanitary (SPS) standards, guidelines and recommendations as a means to improve their 
human, animal and plant health status and ability to gain and maintain access to markets. Other 
organizations involved in SPS-related technical cooperation, donors contributing to the STDF and developing country experts participate actively in the Facility's work
2.The STDF is managed and 
housed by the WTO. 
3.55.  In line with STDF's new strategy, various efforts were undertaken to further strengthen the 
STDF as a knowledge platform for information exchange, sharing experiences and the identification and dissemination of good practice, including in  Working Group meetings. The Secretariat also 
participated in a number of other events to share information and experiences and foster 
collaboration and coherence in the development and implementation of SPS-related technical 
cooperation. 
                                               
2 Further information on the STDF and its activities , background documents, et c. is available on the 
STDF website ( http://www.standardsfacility.org/en/index.htm ).  WT/BFA/W/365 
- 38 - 
 
 3.56.  Throughout the year, a wide variety of proposals and ideas for projects were received and 
discussed with potential beneficiaries, ranging from one-page concept notes to fully-fledged project documents. Officially, 18 applications for project preparation grants (PPGs) and 9 project applications were received. The STDF Working Group accepted five PPGs and approved four 
projects for funding. The total STDF contribution to these projects amounted to US$3,184,907 
which was higher than estimated at the start of the year (i.e. US$2.8 million). All projects were 
collaborative, innovative and/or regional in nature. More and recurrent PPG applications could be 
expected if bilateral donors would be able to increasingly (co-)fund resultant projects. 
3.57.  Two projects were completed and achieved good immediate results. The STDF continued to 
meet its target to dedicate at least 40% of it s project resources to least-developed countries 
(LDCs) and other low income countries (OLICs). Monitoring project implementation, however, 
remained challenging and resource-intensive. 
Table 25. Standards and Trade Development Facility (TWB01) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 9,325 9,800  
IPSAS adjustments - - 
Contributions received 4,344 3,606  
Interest earned  10 5 
Total funds 13,679 13,411  
Total expenditures  (5,072) (4,085)  
Balance as at 31 December 8,607 9,325  
 
3.8  China LDCs and Accessions Programme (TCLAP) 
3.58.  In July 2011, China contributed to the establishment of "China's LDCs and Accessions 
Programme", to help strengthen LDC Members' participation in the WTO activities and also to help 
acceding LDCs to improve their capacity for accession. 
3.59.  At the end of 2013 the WTO received CHF 477,000. This helped to finance in 2014 three 
workshops in Geneva and the recruitment of 5 inte rns. No additional funds were received in 2014, 
however the ending balance of the fund as of 31 December 2014 is CHF 383,000. 
3.60.  In accordance with Annex III of the rela ted Memorandum of Understanding (MoU), five 10-
month internship positions were made available for the third year of the implementation of the 
China Programme. Among the five internship positions, three were designated to candidates from 
developing Members, and two from LDCs (one fr om a LDC Member and one from a LDC acceding 
Member).  In 2014, six interns were selected through an open merit-based process,  taking into 
account the gap in the number of recr uitments which was not filled in 2013. 
3.61.  In addition, the Fund helped finance the participation of three Myanmar delegates in the 
first TPR Meeting of Myanmar from 11 to 13 March 2014 and the participation of the C4 focal 
points in the 21st Round of the DG's Consultative Framework Mechanism on Cotton (DGCFMC) that 
took place on June 20, 2014 in Geneva. 
Table 26 China LDCs and Accessions Programme (TCLAP) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 477 401  
Contributions received  - 363 
Interest earned  - -  
Total funds 477 764 
Total expenditures (94) (287)  
Balance as at 31 December 383 477 
  WT/BFA/W/365 
- 39 - 
 
 3.9  Enhanced Integrated Framework Executive Secretariat (TIFES) 
3.62.  The Enhanced Integrated Framework (EIF) is an initiative to provide trade-related technical 
assistance to the world's poorest countries as a means of integrating them more fully into the multilateral trading system. Its Executive Secretariat is housed at the WTO, which was officially 
established in 2008. The International Bank for Re construction and Development, the International 
Monetary Fund, the International Trade Commission,  the United Nations Conference on Trade and 
Development, the United Nations Development Programme and the World Trade Organization 
(collectively "EIF Agencies"), EIF Least-Developed Countries ("EIF LDCs") and all donors constitute 
the partners of the EIF. The EIF is regarded as one of the most successful initiatives under the overall umbrella of Aid for Trade. 
3.63.  EIF funding is channelled through two source s: the multilateral EIF Trust fund managed by 
the United Nations Office for Project Services (U NOPS) and bilateral/regional donor support direct 
to the beneficiary countries. The EIF trust fund makes an annual allocation to the WTO to cover the operating expenditures of EIF Executive Secretariat, administratively housed at the WTO. 
Table 27. Enhanced Integrated Fram ework Executive Secretariat (TIFES) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 1,182 1,709  
IPSAS adjustments - - 
Contributions received 4,863 3,931  
Interest earned 4 2 
Total funds 6,049 5,642  
Total expenditures  (3,941) (4,460)  
Balance as at 31 December 2,108 1,182  
 
3.10  Independent Entity – Pre-Shipment Inspection – Deposits (T0013) 
3.64.  Independent Entity (IE) is a mechanis m for settling disputes between exporters and 
pre-shipment inspection companies/agencies, cons tituted by the WTO, International Chamber of 
Commerce (ICC) and International Federation of In spection Agencies (IFIA) and established under 
Article 4 of the Agreement on Pre-shipment Inspection. 
3.65.  Deposit payments from the following pre-shipment inspection companies have been 
received to cover the estimated costs of an in dependent review in the event of a dispute as 
required by the terms of reference of the Agr eement: Bureau Veritas International, Cotecna 
Inspection Limited, Inspectorate Griffith Limited,  Inchcape Testing Services International Limited. 
Table 28. Independent Entity – Pre-Sh ipment Inspection – Deposits (T0013) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January  88 88  
Interest earned - - 
Total funds 88 88  
Total expenditures - - 
Balance as at 31 December 88 88  
3.11  Programme Support Fund (EPSF1) 
3.66.  Up until 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 then, they are being channelled through a special fund created to collect them, the 
Programme Support Fund (PSF). According to its te rms of reference, the funds should be used to 
finance expenses of a general nature, i.e. not related to any specific technical assistance project, which support technical assistance activities of the WTO as a whole. In this connection, it should 
be noted that this is due to the fact that, curre ntly, the WTO does not have the means to evaluate 
and underwrite the administrative support staff costs as direct charges to each extra-budgetary fund.  WT/BFA/W/365 
- 40 - 
 
 3.67.  The WTO may share the 13% overhead fees charged to various trust funds that it manages 
with implementing partners. 
3.68.  10 % of the expenses in the PSF is 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. 
3.69.  In 2014, expenses in the PSF corresponded mainly to fixed-term and short-term contracts 
for professional or support staff performing back-office duties relating to the delivery and the 
administration of technical assistance activities. 
3.70.  The fixed-term and short-te rm contracts financed from PSF in cluded the following positions: 
a. three fixed term support staff members in the ITTC of which two in Logistics Unit; 
b. three fixed term support staff members in the Budget and Finance Section; 
c. three fixed term professional staff members in the Economic Research and Statistics 
Division; 
d. two fixed term support staff members in the Informatics Division; 
e. one short term support staff members in the Human Resources Division; one short term 
in the Trade Facilitation Section as logistic coordinator and one in the Economic Research and Statistic Division. 
Table 29. Programme Support Fund (EPSF1) 
Financial Report Summary ('000 CHF) 2014 2013 
Funds as at 1 January 998 872  
IPSAS adjustments - - 
Overhead fees collected 2,440 2,384  
Overheads – Shared with Partners (433) (118)  
Total funds 3,005 3,138  
Total expenditures (2,027) (2,140)  
Balance as at 31 December  978 998  
  WT/BFA/W/365 
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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 Organi zation's Financial Regulations and Rules, and the 
decision of the General Council to implement International Public Accounting Standards in 2014. 
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 2014. 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/365 
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 4.2  Opinion of the external auditor 
BUNDESRECHNUNGSHOF -  SUPREME AUDIT  
INSTITUTION OF GERMANY 
 
 
  Bonn, 2 June 2015 
 
 
To Mr Roberto Azevêdo, Director-General of the World Trade Organization  
 
OPINION
 OF THE  EXTERNAL  AUDITOR 
I conducted my audit in conformity with International Standards on Auditing (ISA) as 
adopted and expanded by the International Organi zation of Supreme Audit Institutions (INTOSAI) 
and issued as International Standards for Supreme Audit Institutions (ISSAIs). These standards require that I plan and perform the audit to obtain reasonable assurance about whether the 
financial statements are free from material misstatement. An audit includes examining, on a test 
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Director-
General, as well as evaluating the overall financial statement presentation. I believe that my audit 
provides a reasonable basis for the audit opinion. 
  
As a result of my audit, I am of the opinion that the financial statements present fairly, in 
material respects, the financial position as at 31 December 2014, that they have been prepared mostly (except for the reservation concerning ITC) in accordance with International Public Sector 
Accounting Standards (IPSAS) and WTO´s stated a ccounting policies, and that the transactions 
have been in accordance with the Financial Regulations.   
 
 (Signed) 
 
 Christian Ahrendt 
 Vice-President of the Bundesrechnungshof  Supreme Audit Institution of Germany 
 External Auditor 
   
  WT/BFA/W/365 
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 4.3  Financial statements 
Table 30 Statement of Financial Position 
Statement of financial Position 
WORLD TRADE ORGANIZATION 
Expressed in '000 CHF Note  31/12/2014  31/12/2013  
ASSETS Current assets 
Cash and cash equivalents 4
   
107,708         83,525  
Receivables from Members 5     9,875          12,732  
Receivables from Observers 5  517  564  
Inventories 6  362   398  
Other receivables 7      3,615  5,557  
Advances and prepayments 8      5,236  5,042  
Total Current Assets      127,312      107,818  
Non-current assets 
Building 9  118,378        119,091  
Work in Progress - Equipment 9        -  2,044  
Equipment 9  16,925          16,850  
Intangible assets 10   558   346  
Pension Plan Assets 14   487,631  441,268  
Total  non-current assets 623,492  579,599  
Total assets 750,804  687,417  
LIABILITIES Current liabilities Payables 11
    4,344  3,736  
Accruals 11   973  1,169  
Assessed Contributions received in advance 12   13,886  7,975  
Voluntary Contributions refundable to donors     13  32,577  33,616  
Short-term employee benefits     14  11,734  12,666  
Total current liabilities 63,515  59,162  
Non-current liabilities Loan  15
 57,600  58,800  
Pension benefits 14    
1,209,593  852,696  
After Service Health Insurance benefits 14   342,853  247,100  
Other Long-term employee benefits 14  10,565  9,013  
Provision for right of use - CWR 9   48,485  49,091  
Funds 17      4,321  6,004  
Total non-current liabilities 1,673,417  1,222,704  
Total liabilities 1,736,932   1,281,866  
Net assets/equity (986,128)   (594,449)  
NET ASSETS/EQUITY Working Capital Fund 16
 10,672  10,616  
Actuarial gain/(loss) 14    
(226,093)  155,465  
Accumulated surplus   
(770,707)   (760,530)  
Total net assets/equity  (986,128)   (594,449)  
  WT/BFA/W/365 
- 44 - 
 
 Table 31 Statement of Financial Performance 
 
 
  WORLD TRADE ORGANIZATION    
    
  Statement of Financial Performance    
  Expressed in '000 CHF    
 Notes 31/12/2014  31/12/2013 
REVENUES    
    
Contributions assessed on Members 18 195,554  195,551  
Contributions of Observers 18 689  711  
Voluntary contributions on trust funds 18 21,193  20,992  
Revenue from publications 18 323  343  
Other revenue 18 853  309  
Extraordinary revenue MTOF 18 2,527  6,518  
Income portion of grant received 18 -   12,973  
WTO Pension Plan revenues 18 20,543  18,358  
    
Total revenue  241,682  255,755 
    
EXPENSES    
Staff Expenditure 19 (174,719)  (184,567) 
Temporary Assistance 19 (20,631)  (23,675) 
Supplies and other General Service Costs 19 (14,687)  (16,796) 
Travel & Hospitality 19 (12,319)  (12,683) 
Implementing Partners 19 (5,610)  (4,662) 
Contribution to ITC 19 (18,470)  (18,068) 
Ministerial Conference Operating Fund (variation) 19 (600)  600  
Appellate Body Operation Fund (variation) 19 (111)  (909) 
Depreciation 19 (5,525)  (4,740) 
Provision for contribution in arrears 19 (26)  4,226  
Depreciation of provision for right of use - CWR 19 606  606  
Finance Costs 19 (39)  (34) 
Loss on foreign exchange transactions  19 272  (128) 
    
Total expenses  (251,859)  (260,830) 
    
Surplus/(deficit) for the period  (10,177)  (5,075) 
     WT/BFA/W/365 
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Table 32 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION 
AS AT DECEMBER 31, 2014 (CHF) 
Expressed in '000 CHF 
Notes Working 
Capital 
fund 
(WCF) Actuarial 
loss 
  Accumulated 
Surplus/Deficit  Total Net 
Assets/Equity 
Balance at 01/01/2013  
10,502  (41,415)    
(755,455)   
(786,368)  
Increase in WCF 114        114  
Actuarial loss  196,880   196,880  
Surplus/Deficit for the period    (5,075)  (5,075)  
Balance at 31/12/2013    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)  
Balance at 31/12/2014   10,672    
(226,093)    
(770,707)   
(986,128)  
 
 
 
  WT/BFA/W/365 
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 Table 33 Cash Flow Statement (Indirect method) 
 
WORLD TRADE ORGANIZATION     AS AT DECEMBER 31, 2014 (CHF)   
Expressed in '000 CHF 2014 2013  Cash flows from operating activities 
   
Surplus/Deficit from ordinary activities     (10,177) (5,075)  
Depreciation and amortisation  5,525   4,740  
Depreciation of provision for right of use - CWR   (606)   (606)  
Provision for contributions in arrears  26  (4,226)  
(Increase) / decrease in receivables from Members and 
Observers  2,878   3,690  
(Increase) / Decrease in inventories    36   40  
(Increase) / Decrease in other receivables     1,943     (915)  
(Increase) / Decrease in pension assets   (46,363)      (43,818)  
(Increase) / Decrease in advances and prepayments     (194)     (620)  
Increase / (Decrease) in payables    608       (5,823)  
Increase / (Decrease) in accruals   (196) (1,209)  
Increase / (Decrease) in contributions received in advance  5,912  (4,999)  
Increase / (Decrease) in voluntary contributions refundable to 
donors  (1,039)  2,301  
Increase / (Decrease) in grant        -    
(12,593)  
Increase / (Decrease) in employee benefits      453,270    (115,945)  
Increase / (Decrease) in funds  (1,683) (6,150)  
Actuarial Gain / (Loss)   
(381,558) 196,880  
Net cash flows from oper ating activities  28,382  5,672  
   
Cash flows from investing activities 
   
Purchase of property, plant and equipment  (2,693) (9,317)  
Purchase of intangible assets  (362) (15)  
Net Cash flows from investin g activities (3,055) (9,332)  
   
Cash flows from financing activities 
   
Increase of loans  (1,200) (1,200)  
Increase in Working Capital Contributions   56       114  
Net cash flows from financin g activities (1,144) (1,086)  
    
Net Increase /(Decrease) in cash and cash equivalents 24,183 (4,745)  
   
Cash and cash equivalents at beginning of period 83,525 88,269  
    
Cash and cash equivalents at end of period 107,708  83,525  
 WT/BFA/W/365 
- 47 - 
 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 intended 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 not applicable due to the absence of elements such as economic return, power and control over the entity. Being financed by 50% from WTO and by 50% from UN, 
ITC is a grant taker organization rather than a joint controlled entity. 
4.4.1.3  Foreign currency 4.8.  The functional and reporting currency of  the WTO is Swiss francs (CHF). Transactions 
denominated in foreign currencies (other than assessed contributions from Members and 
Observers), are converted into CHF using the official  United Nations exchange rate at the date of 
the transaction. For assessed contributions receiv ed in a currency other than CHF, they are 
converted and credited at the bank rate of exchan ge applicable at the value date. Monetary assets 
and liabilities in currencies other than CHF are tran slated into CHF at the year-end United Nations 
exchange rate. 
4.9.  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 
4.10.  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 
4.11.  The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. The areas where estimates are used include 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 WT/BFA/W/365 
- 48 - 
 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 4.12.  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. 
4.13.  The Cash flow statement is prepared using the indirect method. 
4.4.1.7  Receivables 
4.14.  Receivables are recognised at nominal value less any allowances for estimated irrecoverable 
amounts. Discounting on receivables is not applied unless the effect is significant. 
4.15.  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 34 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 
4.16.  Discounting on advances and prepayments is  not applied unless the effect is significant. 
4.4.1.9  Inventories 
4.17.  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 
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. 
4.18.  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 
4.19.  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. WT/BFA/W/365 
- 49 - 
 4.20.  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. 
4.21.  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. 
4.22.  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. 
4.23.  The useful of major classes of assets have been estimated as follows: Table 35 Class of Assets 
Class Estimated useful life (years) 
CWR Building 99 years 
Building structure 50 years 
Building carpentry 25 years 
Waterproofness, 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 
 
4.24.  Damaged assets are impaired at year-end based on information received. 
4.25.  Heritage assets such as donated work of arts are not recognised in the financial statements. 4.4.1.11   Intangible Assets 4.26.  Intangible assets are stated at historical cost less accumulated depreciation and impairment 
losses. Depreciation is provided over the estimated useful life (4 years) using the straight line 
method. Licence rights lasting one year are expensed during the year. 
4.27.  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. 
4.28.  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 4.29.  WTO employee benefits are classified as follows: a. Short-term employee benefits are due to be settled within 12 months of the reporting date and 
are measured at their nominal values based on accrued entitlements at current rates of pay. They 
include first-time employment benefits (installation grants), regular monthly benefits (wages, WT/BFA/W/365 
- 50 - 
 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 Se rvice Health Insurance cover (ASHI). 
4.30.  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. 
4.31.  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. 
4.32.  The benefit obligation is calculated annually by an independent actuary using the projected 
unit credit method. The actuarial gains or losses arising from experience adjustments and changes 
in actuarial assumptions are recognized immediately in net assets. 
4.33.  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 4.34.  Provisions are made for future liabilities and charges where the WTO has a present legal or 
constructive obligation as a result of past events and it is probable that the WTO will be required to 
settle the obligation. 
4.35.  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 
4.36.  The WTO assets, income and other property are exempt from all direct taxation. 
4.4.1.15  Revenue recognition 4.37.  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 contributi ons are therefore recognised up to the amount 
expensed in the period. 
4.38.  Revenue from exchange transactions (mainly sale of publications, interests earned and 
rental of meeting rooms) is recognised as goods or services are delivered. 
4.39.  In kind contributions of services are not recognised in the financial statements. WT/BFA/W/365 
- 51 - 
 4.4.1.16  Expenses 
4.40.  Under accrual accounting, expenses are reco gnised at the time of delivery of goods or 
services by the supplier or service provider. The al location of the expenses to the period to which 
they relate is calculated for one year service above 10,000 CHF or multi-year services above 
5,000 CHF per year. 
4.41.  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 
4.42.  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 the counterparty risk, funds are deposited with at least two internationally recognized financial institutions with rating equivalent to A+ or better. 
b. Foreign currency exchange risk: 
 The exposure to the foreign exchange rate risk is reduced by maintaining all funds in 
CHF, the Organization's base currency. The holding of funds in other currencies is permitted only to cover actual or anticipated commitments in those currencies. 
Funds held in foreign currencies shall not exceed the sum of the actual 
commitments and the anticipated commitments for the next 12 months. Speculation on exchange rates is strictly forbidden. 
c. Interest and market risks: 
 Interest and market risks are also very limited as speculation on interest rates is 
strictly forbidden and cash balances retained by the Secretariat can only be invested 
through the following means: i) Interest bearing account; ii) Bank term deposit of 
up to a maximum duration of 24 months; iii) Straightforward money market investment funds, all with an overall rating equivalent to A+ or better. 
d. Liquidity risk: 
 The level of funds available shall be main tained 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. 
4.4.3  Note 3  IPSAS Opening Balance Adjustment 4.43.  The 2014 Financial Statements adjusted the Member Transition Operating Fund (MTOF) due 
to a miscalculation operated in 2012 when stating the IPSAS opening balance.  
4.44.  In 2012 the MTOF did not release funds to cover provisions which instead had impacted the 
opening balance. The operated adjustment affect ed the extraordinary revenues and realigned the 
MTOF to its proper level. In addition the operated adjustment re-established indirectly the correct 
amount in the net asset/equity. 
 WT/BFA/W/365 
- 52 - 
 4.4.4  Note 4 Cash and cash equivalents 
Table 36 Cash Situation 
Cash and cash equivalent 
Expressed in '000 CHF 30/12/2014 31/12/2013 
Cash in hand 10  10 
Cash at bank by currency 107,698  83,515  
CHF 103,517  81,438  
USD 3,027  1,305  
EUR 962  584 
GBP 192 188 
Total cash and cash equivalent 107,708  83,525  
 
4.45.  The bank balance in CHF comprises restricted  funds held by the Working Capital Fund for an 
amount of kCHF 10,187. 
4.46.  The increment in 2014 is mainly due to a cash deposit in CHF in the Credit Suisse Bank 
Account. 
4.47.  Bank accounts are held with UBS, Crédit Suisse and the Swiss Post Finance Bank. The WTO 
negotiates interest rates on bank account deposits with the banks in order to obtain competitive 
rate. 
4.4.5  Note 5 Receivables from Members, Observers and Donors 4.48.  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 37 Receivables from Members and Observers 
Expressed in '000 CHF 30/12/2014 31/12/2013 
Receivable Assessed Contributions 19,251 22,016  
Receivable Advances due to WCF      68   133  
Provision Contributions (9,444) (9,418)  
Total   9,875   12,732  
4.49.  A provision for outstanding contributions is calculated based on the aging of the 
contributions. 
Table 38 Provision for Arrears from Members and Observers 
Expressed in '000 CHF Provision for 
outstanding 
contributions at 
31 December  
2013 Adjustment 
of the 
provision 
during 2014  Provision for 
outstanding 
contributions at 
31 December  2014 Amounts 
written off as 
part of the 
payment plan 
Members 9,008  69 9,078 -  
Observers 409 (43) 366 - 
Total  9,418  26 9,444 - 
 
4.50.  The General Council has approved in the period 2010-2012 payment plans with 10 Members 
with total arrears amounting to CHF 7 million. 8 members are following the payment plan whilst 2 WT/BFA/W/365 
- 53 - 
 members (Mauritania and Central African Republic) di d not comply with an arrear of 1 million each 
as at 31 December 2014. 
4.4.6  Note 6 Inventories Table 39 Inventories per type 
Inventories  
Expressed in '000 CHF 30/12/2014 31/12/2013 
WTO publications and co -publications  321 340  
Non WTO publications 36 46 
Souvenirs 5 12  
Subtotal inventories (including 
adjustments and write offs) 362 398 
 
Table 40 Inventories per storage 
Inventories  
Expressed in '000 CHF 30/12/2014 31/12/2013 
External WTO Storage 152 121 
Internal WTO Storage 210 277  
Subtotal inventories (including 
adjustments and write offs) 362 398 
 
4.51.  Inventories consist of WTO publications, co-publications, other non-WTO publications and 
souvenirs held for sale and the ones distributed fr ee of charges. Starting 2011, a part of the WTO 
publications and co-publications inventory is held at a third-party distribution storage facility. 
Table 41 Inventory Adjustments and write offs 
Expressed in '000 CHF 30/12/2014 31/12/2013 
Adjustments 4 4  
Write offs (6) (70) 
Total Adjustments and write offs (2) (66)  
 
4.52.  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. 
4.53.  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 42 Other Receivables 
Expressed in '000 CHF 30/12/2014 31/12/2013 
Recoverable United States taxes 2,971 4,892  
Recoverable Swiss taxes 14 20 
Various other receivables 630 644  
Total other receivables 3,615 5,557  
 
4.54.  Other receivables include receivables from non-exchange transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables". WT/BFA/W/365 
- 54 - 
 4.55.  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. 
4.56.  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. 
4.57.  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 amount written off for the WTO amounting to CHF 98,194 for 2014. 
4.4.8  Note 8 Advances and Prepayments 
Table 43 Prepayments 
Expressed in '000 CHF 30/12/2014 31/12/2013 
Staff advances for salary, travel and education grant 3,284 3,104  
Advances relating to Trust Funds activities 1,137 1,215  
Other advances 815 723  
Total 5,236 5,042  
 
4.58.  Staff advances made for education grants represent kCHF 2,778 and advances for home leave represent kCHF 474 of the total of staff ad vances. The remaining amount refers to travel 
advance and salary advance. 
4.59.  Advances relating to Trust Funds activities include advances paid to hotels where the 
activities will be held as well as  advances to implementing partners. 
4.60.  Other prepayments correspond to payments made to suppliers. 
4.4.9  Note 9 Property, Plant and Equipment Table 44 Building 
Expressed in '000 CHF Building 
Cost at 31/12/2013 132,242  
Additions 2,257  
Cost at 31/12/2014 134,499  
Accumulated depreciation 01/01/2014 13,151  
Depreciation 2,970  
Accumulated depreciation at 31/12/2014 16,121  
Net carrying amount at 31/12/2014 118,378  
 WT/BFA/W/365 
- 55 - 
 Table 45 Work in progress - Equipment 
Expressed  
in '000 CHF Furniture - 
under 
construction Audio visual 
equipment 
under 
constructio
n Security 
equipment 
under 
construction BCI External 
Grounds Total 
Cost at 31/12/2013 502  769  402   -  371  2,044  
Additions 63  67  221   -  328  679  
transfers to equip/build  (565)  (836)   (623)   -   (699)  (2,722)  
Disposals -  -  -  -    -  -  
Cost at 31/12/2014 -  -  -  -  -  -  
 
Table 46 Equipment 
Expressed in 
'000 CHF  Furniture  Audio 
visual 
equipment  Security 
equipment  Reproductio
n equipment  IT 
equip-
ment Vehicle  Total  
Cost at 
31/12/2013  8,648  6,802  2,384   1,612   2,356  268  22,069  
Additions (FA)  17   56    57  -      229  98  457  
Additions (CF)  63  67  221        350  
Additions 
(WIP)  502  769  402        1,673  
Disposals        -       -   
Cost at 
31/12/2014  9,229  7,694  3,064    1,612    
2,585  366  24,549  
Accumulated 
depreciation 31/12/2013  793  450 
 838     1,205    
1,740   191   5,219  
Depreciation  918  758  282  99      325  25  2,318  
Disposals              -   
Accumulated 
depreciation at 
31/12/2014  1,711  1,208  1,120  1,304  2,065  216  7,537  
Net carrying 
amount at 31/12/2014  7,519  6,485 
 1,944  308  520  150  16,925  
 
4.61.  The WTO has also a number of artwork dona ted by governments, artists and other partners. 
The Government of China has also offered the WTO a garden that has been completed in 2012 and the Government of Italy donated and restored a fountain at the end of 2014. The value of these 
works (also called heritage assets) is not recognised in the financial statements. 
4.62.  The CWR and the new administrative building belong to the WTO. At the end of 2012, final 
reception for both the renovation work of the CWR (financed by the Swiss Authorities) and the 
construction work of the new building has been completed. In 2014, the WTO has recorded an 
increase in the value of its building of CHF 2.25 million. The common facilities were completed and capitalized at the end of October 2014 increasing the value of the assets of kCHF 350; they include equipment such as furniture and audio/visual, security (perimeter). 
4.63.  With the conclusion of the project of Common Facilities financed by the MTOF, all the 
working in progress are completed and capitalized accordingly. 
4.64.  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 a property 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. WT/BFA/W/365 
- 56 - 
 c. Free right to use an underground parking located in the neighbourhood with 400 parking 
spaces. 
4.65.  As part of the building project, artwork and decoration were acquired and recognised at 
their purchase prices and are subject to depreciation. 
4.4.10  Note 10 Intangible Assets 
Table 47 Intangible Assets 
Expressed in '000 CHF Software 
acquired Software 
internally 
developed Total Intangible 
Cost at 1/1/2014 183  466  649  
Additions  362    362  
Disposals -  -  -   
Cost at 31/12/2014 545  466  1,011  
Accumulated depreciation 1/1/2014  140  163  303  
Depreciation    33  116  149  
Accumulated depreciation at 31/12/2014 173  279  452  
Net carrying amount at 31/12/2014 372  186  558  
 
4.66.  The software acquired and under depreciation are related to informatics tools for financial data extraction, for the internet application server  of the ERP System and for conference activities. 
4.67.  The software acquired in 2014 for an amount of kCHF 362 relates to the migration process 
undertaken by WTO towards the new version of ERP system. Assets were capitalized but not yet depreciated as the project was not completed by the end of 2014. 
4.4.11  Note 11 Accounts payable 
Table 48 Payables 
Expressed in '000 CHF 31/12/2014 31/12/2013  
Accruals 973  1,169  
Suppliers  3,050  2,828  
WTO staff, consultants and interns 1,222  905 
Other payables   72  2  
Total payables 5,317 4,905  
 
4.68.  Accruals represent the amount of goods received and services delivered during the period 
for which the invoices were not received at the reporting date. 
4.69.  Payables to suppliers and staff at year-end reflect amounts expensed in 2014 for which 
settlement has been effected in 2015.  
4.70.  The increment of other payables compared to the previous year is due to a reimbursement 
towards the EU Commission in reference with a trust fund not yet settled at the date of 31 
December 2014. 
4.4.12  Note 12 Assessed cont ributions paid in advance 
4.71.  Contributions paid in advance by Members and Observers at 31 December 2014 consist of 
advance payments received and interest earned and due to Members. WT/BFA/W/365 
- 57 - 
 Table 49 Contributions paid in Ad vance by Members and Observers 
Expressed in '000 CHF 31/12/2014  31/12/2013 Reference  
Contributions paid in advance by Members and Observers 13,754  7,795 Schedules  
C and D 
Interest earned through the Early Payment Encouragement 
Scheme 132 180 Schedule B 
Total contributions paid in advance by Members and 
Observers 13,886  7,975   
 
4.72.  The General Council implemented a system to encourage early payment of contributions. 
The annual interest earned on the current year's contributions is refunded to Members on the basis of calculations which take into account the amou nt and date of payment. The interest refund 
earned by a Member in a given year is deducted from the Member's contribution due two years 
later. The amount of CHF 132,363 is the interest earned by Members in 2013 (CHF 55,436) and 2014 (CHF 76,927). 
4.4.13  Note 13 Voluntary contri butions refundable to donors 
Table 50 Voluntary contributi ons refundable to donors (including advances)  
Expressed in '000 CHF 
Balance due to donors as at 31 December 2013 33,616 
Contributions paid in advance for 2014 activities  (928) 
Voluntary contributions received in 2014 21,132 
Reimbursement in 2014 (25) 
Interests on investments 33 
Expenses incurred on Trust funds (note 20) (21,227) 
Balance due to donors as at 31 December 2014 32,601  
Contributions paid in advance for 2015 activities 24 
Balance due to donors as at 31 December 2014 (including advances) 32,625  
Contributions returned to donors  (48) 
Final balance due to donors as at 31 December 2014 32,577  
 
4.73.  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. 
4.74.  With the IPSAS implementation, expenses are not recognised any more on commitments 
but on accruals. Voluntary contributions refundable to donors include commitments made to third parties regarding trust fund activities. 
4.4.14  Note 14 Employee benefits 
Table 51 Employee Benefits 
Expressed in '000 CHF 31/12/2014 31/12/2013 
Short-term benefits Dependency allowance 50 50  
   Untaken annual leave 9,167 9,708  
   Education grant 1,389 1,282  
   Home leave 899 1,151  
  Separation grant 229 476  
Long-term benefits Removal indemnity 1,691 1,400  
   Separation grant 8,874 7,613  
Post-employment benefits ASHI 342,853 247,100  
   Pension  1,209,593 852,696  
Total     1,574,745    1,121,476  
 WT/BFA/W/365 
- 58 - 
 4.75.  Employee benefits liabilities are determined by professional actuaries or calculated by the 
WTO based on personnel data and past payment experience. 
4.76.  Short-term employee benefits include dependency allowance, untaken annual leave, 
education grant and home leave: 
a. The provision for dependency allowance is established for cases of likely retroactive 
payment of allowances regarding staff dependants. 
b. The provision for untaken annual leave corresponds to the total leave balance due to 
regular and temporary staff at the end of the year. The maximum of accumulated annual 
leave is 60 days, which corresponds to a two-year entitlement that the employees can carry forward. For prudence the provision however takes into account 90 days as the employees are entitled also to take the a dditional 30 days before expiration. Annual 
leave is accounted for using the FIFO method. 
c. The provision for education grant is established to cover the expenditure associated with 
the first four months of the school year (out of ten months) through December that will 
be settled at the end of the school year in the following summer. 
d. The provision for home leave is established to cover the liability incurred by all eligible 
staff in a given year for their home leave. Staff entitled to home leave may return to 
their home country every other year. The rules to calculate the home leave estimation 
for all the permanent international staffs are: 1) the year of payment of the last home leave is considered as the year during which the home leave has been taken. 2) A staff member who has not taken home leave for 2 years, i.e. since 2011, is entitled to 100% 
rights. 3) A staff member who has taken home leave in 2012 is entitled to half of the 
right at the end of 2013. 4) A staff member who has taken home leave in 2013 has no rights at the end of 2013. 5) 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 9,853.5 
has been calculated for the staff that joined from 2011. No provision for staff that entered before 2011 and never asked for home leave. 
4.77.  At the end of their employment contract, eligible staff receive separation grant and 
international staff going back to their home country is entitled to removal indemnity. The estimated amount 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 14,959. This average unit cost is based over the past six years. 
b. 59.7% of international staff has been returning to their home country (over the past 
fourteen years). 
c. A retirement age of 62 years old. 
d. The amount of the median salary and the es timated inflation growth are based on the 
scale of the salaries in 2010. The new salary scales released in 2012 and 2013 in fact 
affected only the staff recruited in these periods having a minimal impact. The estimated inflation growth is determined by the inflation rate and by the median of increments for 2010 weighted by 50% as only half of the WTO population benefit from such increments. 
e. 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. 
f. The rules to calculate the long term separation indemnity are: 1) Staff with local status 
with a minimum of 10 years (date of fixed term) are entitled to one month median 
salary without dependant and two months with dependant. 2) Staff with international status with a minimum of 10 years are entitled to either the same amount as locals if 
they do not return in their home country, or two months median salary without 
dependant and four months median salary with dependant. 3) Staff with international WT/BFA/W/365 
- 59 - 
 status with less than 10 years are entitled only if they return to home country of two 
months median salary without dependant and four months with dependant. 
g. The total provisional cost for separation indemnity amounted for kCHF 8,874 in 2014, 
which determined an increase of kCHF 1,260 compared to the previous year. This is 
mainly explained by a lower discount rate applied, which decreased from 2.6% in 2013 
to 1.1% in 2014, as a consequence of a lower yield of high quality Swiss corporate bonds. 
4.78.  The WTO pension plan is a defined benefit plan. The following assumptions have been used 
to determine the value of the pension and ASHI benefit obligations through an actuarial valuation as at 31 December 2014: 
Table 52 Actuarial Assumptions 
Actuarial Assumptions Pension ASHI 
Discount rate 1.10% 1.10%  
Medical inflation rate   3.30%  
Inflation  0.80%  0.80%  
Rate of compensation increase 0,80% -  
Rate of pension increase 0.80% -  
Expected long-term rate on return of plan assets 4.00% -  
 
Table 53 Financial assets – Pension 
Expressed in '000 CHF 31/12/2014 31/12/2013 
Fair value of plan assets at beginning of year 441,268 397,450  
Expected return on plan assets 20,128 18,167  
Actuarial (loss)/gain on plan assets net of actual investment expenses 15,973 15,315  
Employer contributions 19,694 19,995  
Plan participants' contributions 9,847 10,143  
Benefits paid from the plan (17,851) (18,108)  
Expenses paid (410) (348)  
Premium paid (1,106) (1,223)  
Net transfer in(out) including effect of any business 
combinations/disinvestitures 88 (122)  
Foreign currency exch ange rate changes - - 
Fair value of plan assets at end of year 487,631 441,268  
 
Table 54 Defined benefit obligation - Pension 
Expressed in '000 CHF 31/12/2014 31/12/2013 
Benefit obligation at beginning of year 852,696  945,793  
Service cost 30,547   41,583  
Interest cost 22,185   20,783  
Plan participants' contributions 9,847   10,143  
Actuarial (gain)/loss 313,275   (146,285)  
Business combinations/divestitures/ transfers -  11  
Benefits paid  (17,851)  (18,109)  
Premium paid  (1,106)  (1,223)  
Benefit obligation at end of year 1,209,593  852,696  
 WT/BFA/W/365 
- 60 - 
 Table 55 History of defined benefit obligat ions and experience gains and losses - 
Pension 
Expressed in '000 CHF 31/12/2014 31/12/2013 31/12/2012 
Defined benefit obligation  1,209,593  852,696  945,793  
Fair value of plan assets 487,631  441,268  397,450  
Surplus / Deficit 721,962  411,428  548,343  
Total actuarial gain/(losses) experienced (297,302)  161,602   (27,706)  
Table 56 Defined benefit obligation - ASHI 
Expressed in '000 CHF 31/12/2014 31/12/2013 
Benefit obligation at beginning of year 247,100  270,471  
Service cost 9,272   10,261  
Interest cost 6,609   5,853  
Actuarial (gain)/loss 84,256   (35,278)  
Benefits paid  (4,384)  (4,207)  
Benefit obligation at end of year   342,853  247,100  
Table 57 History of defined benefit obligatio ns and experience gains and losses - ASHI 
Expressed in '000 CHF 31/12/2014 31/12/2013 31/12/2012 
Defined benefit obligation 342,853  247,100 270,471  
Fair value of plan assets - - - 
Surplus / Deficit 342,853  247,100 270,471  
Total actuarial gain/(losses) experienced  (84,256)  35,278   (13,709)  
4.79.  Pension and ASHI benefits are calculated by  consulting actuaries. The WTO pension liability 
amounts to kCHF 1,209,593. This liability is counterbalanced by the corresponding pension's net 
fair value asset of kCHF 487,631.  
4.80.  As a consequence the overall 2014 pension net liability is kCHF 721,962 showing an 
increase of kCHF 310,534 from the previous year . The 2014 liability for ASHI increased of kCHF 
95,753 compared to the previous year. These increments are due mainly to two different factors: 
a. The decrease of the actuarial rate from 2.60% in 2013 to 1.10% in 2014. 
b. The inflation rate at 0.8%. 
4.81.  In 2013 the actuarial valuation generated a gain of kCHF 155,465 whilst in 2014 it 
generated an actuarial loss of kCHF 226,093 with a negative variation compared to the previous 
year of kCHF 381,558. 
4.82.  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. The cause of the strong 
variation between the two years is to be search ed in the drop of 1,5% of the discount rate 
occurred from 2013 to 2014. 
4.83.  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. WT/BFA/W/365 
- 61 - 
 4.84.  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. Using instead  a different approach in determining the discount rate such as the e x p e c t e d  r a t e  o f  r e t u r n  m e t h o d  ( 4 . 0 % )  w o u l d  h a v e  i m p a c t e d  m u c h  l e s s  t h e  f i n a n c i a l  a n d  
performance position of the WTO.  
4.85.  Applying the discount rate determined by the expected rate of return method would have 
determined in fact opposite results. Actuarial gain would have been generated and the overall net 
Pension Liability would have been reduced to kCHF 214,915 vis-à-vis the net Pension Liability of 
kCHF 721,962 obtained with the application of the market rate method. 
4.86.  The role of external factors such as the discount rate applied by the actuary might 
determine strong variation in terms of Pension and ASHI cost, liabilities and actuarial gain or loss. 
Even minimal variation from one year to another impact remarkably both financial and 
performance positions of the WTO. 
4.4.15  Note 15 Loan 
4.87.  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 2014 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. 
4.88.  The WTO holds an interest free loan relati ng 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.  
4.4.16  Note 16 Working Capital fund 
4.89.  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 is 
0.5% or less. The interest earned on the advanc es made by Members accrues to the Organization. 
Yemen has acceded to the WTO in 2014 in June 2014 as the 160
th member of WTO. 
Table 58 Working Capital Fund Statement 
Expressed in '000 CHF 31/12/2014  31/12/2013  
ASSETS     
Cash and cash equivalents 10,603  10,480  
Receivables from Members 68 133 
Tax receivables 1  3 
      
Total assets 10,672  10,616  
      
LIABILITIES AND CAPITAL FUND     
Advances made by Members 4,511  4,458  
Interests earned 6,161  6,158  
      
Total liabilities and capital fund 10,672  10,616  WT/BFA/W/365 
- 62 - 
 4.4.17  Note 17 Funds 
Table 59 Funds 
Expressed in '000 
CHF Ministerial 
Operating 
Fund Doha 
Development 
Global  
Trust Fund Appellate 
Body 
Operating 
Fund Member's 
Transition 
Operating 
Fund Total 
Opening Balance at 
31/12/2013 - 1000  909 4095 6004  
Replenishment of funds 600 - 1,800  104 2,504  
Utilisation of funds - -  (1,689)  (2,498) (4,187)  
Balance at 
31/12/2014 600 1,000  1,020  1,701 4,321  
 
4.90.  The funds liability decreased from kCHF 6,004 in 2013 to kCHF 4,321 in 2014. This decrease is mainly due to the use of the Members Transition Operating Fund (MTOF) which has been used to 
cover the expenditure of the common facilities 
4.4.18  Note 18 Revenue 4.91.  Revenue from non-exchange transactions include revenue from assessed contributions from 
Members and Observers and voluntary contributions. 
a. Assessed Contributions amount to kCHF 195,554 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 Yemen 
became during 2014 the 160
th member of the WTO changing its status. 
c. Voluntary Contributions from Trust Funds are presented in detail in Annex E of the 
financial statements. 
4.92.  Extraordinary revenue of CHF 2.5 million  was recognized in 2014 as kCHF 0.7 funds of 
MTOF were applied for the completion of common facilities and CHF 1,8 million were released to adjust a 2012 provision. In fact in 2012 the MTOF  did not release funds to cover such provision 
which instead had impacted the opening balance. The operated adjustment generated therefore 
extraordinary revenue and realigned the MTOF to its proper level. 
4.93.  The financial statements indicate in a separate line the 2014 revenues deriving from 
consolidation with the WTO pension plan that amount kCHF 20,543. Revenues increased by kCHF 
2,185 compared to the previous year. 
4.94.  Revenue from exchange transactions are in cluded in the line "Revenue from publications" 
and "Other revenue".  
a. Income from publications includes the sale through the WTO bookshop and WTO 
distributor as well royalties. 
b. Other revenues are summarized in the table below: 
Table 60 Other Revenues 
Expressed in '000 CHF 31/12/2014 
Publication Stocked Production 267  
Refund of prior year's outstanding obligations 160  
Rental of meeting rooms and office spaces 119  
Miscellaneous 307  
Total 853  
 WT/BFA/W/365 
- 63 - 
 4.4.19  Note 19 Expenses 
4.95.  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 5.3% compared to the 
previous year, mainly because of valuation effects regarding the pension liability. 
Table 61 Staff Expenditures including Trust Funds 
Expressed in '000 CHF 2014 2013 Difference 
Staff / Salary 88,360  88,599 (239)  
Staff / Annual leave -178 920 (1,098)  
Staff / Overtime 123  224 (102)  
Staff / Representation Allowance 177 177 0 
Staff / Pension 52,725  62,168 (9,443)  
Staff / Retiree Health Insurance 13,916  14,182 (266)  
Staff / Health Insurance 5,084  5,015 69  
Death and Invalidity Insurance 425 492 (67) 
Staff/ Allowances for Dependences 5,280  5,176 104  
Staff / Education Grant 4,004  3,844 161 
Staff / Home Leave 1,427  1,454 (27)  
Staff / Rental Subsidy 313  337  (24) 
Staff / Travel and Removal 583  181 402  
Staff / Installation Grant & Medical Examinations 212 486 (274)  
Staff / Separation Grant 1,616  1,109 507  
Staff / Negotiated Termination Indemnity 554    88  466 
Staff / US Taxes 98  115 (17)  
Total 174,719  184,567  (9,849)  
b. 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. A decrease of about 
12% variation with regard to the pr evious period is to be noted. 
Table 62 Temporary Expenditures including Trust Funds 
Expressed in '000 CHF 2014 2013 Difference 
Short-Term Staff / Salary 5,751  6,727 (976)  
Short-Term Staff / Pension 818 968 (150)  
Short-Term Staff / Health Insurance 290  312 (21)  
Short-Term Staff / Annual Leave 294 220 74 
Short-Term Staff / Overtime 9  19 (10)  
Language and Translation costs 6,505  7,028 (523)  
Consulting costs 2,507  4,135 (1,628)  
Panellists & Appellate Body Members Fees 2,164  1,476 688 
Legal Fees 0  2 (2)  
Interns 2,330  2,831  502  
Consolidation with Trust Funds (37)  (43) 6  
 Total  20,631  23,675 (3,044)  
4.96.  Supplies and other general service expendit ures include general administration costs such 
as utilities costs, maintenance costs, and publication costs. In addition costs for the purchasing of 
supplies and small equipment are part of this category. A positive variation of more than 
CHF 2 million is to be noted compared to year 2013. 
4.97.  Travel & Hospitality expenditures represent the costs related to travel on official mission, 
accommodation, ticketing by staff, panellists and participants to trade related technical activities WT/BFA/W/365 
- 64 - 
 among others. Hospitality expenses are instead related to costs incurred by Senior Management 
for receptions such as hospitality events and meeting related to the WTO activity. 
4.98.  Implementing partners' expenditures repr esent costs for activities funded by WTO but 
executed by a third-party organization. The costs for these activities increase of about 
CHF 1 million compared to the previous year . The difference is due to the Trust Funds 
expenditures for implementing partners that increased from 4,367 kCHF in 2013 to 5,110 kCHF in 2014. 
4.99.  Contribution to ITC includes the f unds granted to ITC for its core activities. 
4.100.  Ministerial Conference Operating Fund and Appellate Body Operating Fund show the 
variation of the two funds dedicated to the activiti es of Appellate Body and Ministerial Conference. 
The Ministerial Conference Operating fund was replenished but not used as the Ministerial 
Conference occurs every two years and no Mi nisterial conference took place in 2014.  
4.101.  Depreciation and write off include the depreciation costs for the assets and write off of 
publications from WTO stocks in 2014. Depreciation for the write of use CWR refers to the 
amortisation of the liability related to the CWR fo llowing the concession of a right of use of CWR 
premises from the Geneva Local Authorities. 
4.102.  Finance and foreign exchange costs refer mainly to interests paid to banks of third parties 
and expenses due to exchange rate transactions among different currencies. 
4.4.20  Note 20 Segment reporting 4.103.  Segment information is based on the two main sources of financing of the Organization. 
These segments are: i) the regular budget of the WTO, and ii) Trust Funds. Segment reporting will 
only be presented for Statement of Financial Performance. 
4.104.  The only intra-fund transaction occurred is  related to the reallocation of part of the 
expenses of the EPSF (Programme Support Fund). 
4.105.  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 184). 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 147). 
b. 20% of this contribution is allocated to the Temporary assistance (corresponding to the 
amount of kCHF 37). WT/BFA/W/365 
- 65 - 
 Table 63 Segments Financial Performance  
2014 
Expressed in '000 CHF WTO Budget Trust Funds Inter-Fund 
Transactions TOTAL 
WTO 
REVENUES         
Contributions assessed on Members 195,554      195,554  
Contributions of Observers 689     689 
Voluntary contributions on trust funds 0  21,193    21,193  
Extraordinary Revenue MTOF 2,527      2,527  
Revenue Pension Plan 20,543      20,543  
Revenue from publications 323     323.13242  
Other revenue 1,004   33   (184) 853  
         
Total revenues 220,640  21,226  (184) 241,683  
         
EXPENSES         
Staff Expenditure  (167,738)   (6,981)     (174,719)  
Temporary Assistance  (18,120)   (2,549)  37  (20,631)  
Supplies and other general services 
costs  (14,254)   (580)  147  (14,687)  
Travel & Hospitality  (6,560)   (5,759)     (12,319)  
Implementing Partners  (200)   (5,410)     (5,610)  
Contribution to ITC  (18,470)         (18,470)  
Ministerial Conference Operating Fund  (600)       (600)  
Appellate Body Operation Fund  (111)       (111)  
Depreciation and write offs  (5,525)       (5,525)  
Provision for contributions in arrears  (26)       (26)  
Depreciation of provision for right of 
use - CWR 606        
Finance costs  (24)   (15)    (39)  
Loss/(Gain) on foreign exchange 
transactions 206   66    272  
         
Total expenses (230,816)   (21,227)  184  (251,859)  
         
Surplus/(deficit) for the period  (10,177)  - -  (10,177)  
 
4.4.21  Note 21 Reconciliation with Budget 
4.106.  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). 
4.107.  A statement of comparison of original 2014 budget and final budget and actual amounts is 
presented in the first narrative part of this report where material differences are explained. The following table reconciles the budgetary 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/365 
- 66 - 
 Table 64 Reconciliation between budge t result and financial result 
Expressed in '000 CHF   
Budgetary savings  31/12/2014 14,476  
    
Assessed contributions on new Members 54  
Miscellaneous income 250 
    
Surplus  31/12/2013 14,780  
    
Loan reimbursement 1,200  
Extraordinary revenue MTOF 2,527  
Production stocked  267  
Acquisition of property, plant and equipment  722  
Depreciation and amortisation of property, plant and equipment  (5,525)  
Depreciation of provision for right of use - CWR  606  
Provision for contribution in arrears  (26)  
Pension benefits actuarial valuation (net value)  (13,232)  
After service health insurance (ASHI) benefits actuarial valuation  (11,497)  
    
Financial result 31/12/2014  (10,177)  
 
4.108.  The deficit for the year 2014 amounts to kCHF 10,177. This is the deficit calculated using 
the same methodology as in prior years and in compliance with the WTO Financial Regulation. The Surplus/Deficit Account had a credit balance at the end of 2013 amounting to kCHF 760,530. The 
balance of the Surplus Account at the end of 2014 amounts to kCHF 24,231.  
4.109.  The Financial result for 2014 amounts to a deficit of kCHF 10,177 compared to a budget 
result of kCHF 14,476 (kCHF 14,780 including misc ellaneous income and contributions from new 
members). 
4.4.22  Note 22 Key management personnel 4.110.  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. 
4.111.  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 65 Key management personnel 
Expressed in  
CHF Nb of 
individual Net salaries and 
representation 
allowances Entitlements 
and other Pension 
and 
health 
plans Total 
31/12/2014 
Key 
management 
personnel 5 1,539,911   67,850 321,712 1,929,473 
 
4.4.23  Note 23 Contingent assets and contingent liabilities 
4.112.  The Organization holds, at the end of 2 014, bank guaranties of kCHF 2,323 from Implenia 
related to the Building Project. The Organization also holds a bank guaranty of kCHF 865 from HRS 
related to the Building Project. WT/BFA/W/365 
- 67 - 
 4.4.24  Note 24 Commitments 
4.113.  The commitments opened on the 31st December 2014 are the following: a. Regular budget: kCHF 0,531. 
b. Trust Funds: kCHF 6,411. 
4.4.25  Note 25 Events after the reporting date 
4.114.  The WTO's reporting date is 31 December 2014. 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. On the date of signing these accounts, there have been no material events, 
favourable or unfavourable, incurred between the reporting date and the date when the financial 
statements were authorised for issue that would have impacted these statements. 
4.5  Schedules 
4.5.1  Schedule A 2014 Statement of  Contributions from Members 2014 
Table 66 Contributions from Members in 2014 
Country Assessed 
Contributions   Interests gained 
for 2014 Net Assessed 
Contributions  
Albania 54,740 52   54,688 
Angola 490,705 341 490,364 
Antigua and Barbuda   29,325   29,325 
Argentina 780,045 264 779,781 
Armenia   33,235 13  33,222 
Australia 2,584,510   2,315 2,582,195 
Austria 2,258,025   1,876 2,256,149 
Bahrain, Kingdom of 175,950 169 175,781 
Bangladesh 244,375 111 244,264 
Barbados 29,325 19 29,306 
Belgium 4,158,285   3,049 4,155,236 
Belize 29,325   3 29,322 
Benin 29,325  29,325 
Bolivia, Plurinational State of 68,425   2 68,423 
Botswana 60,605 31 60,574 
Brazil 2,381,190     898 2,380,292 
Brunei Darussalam 64,515 62 64,453 
Bulgaria 336,260     329 335,931 
Burkina Faso 29,325 19 29,306 
Burundi 29,325  29,325 
Cabo Verde 29,325 22 29,303 
Cambodia 74,290 28 74,262 
Cameroon 64,515 32 64,483 
Canada 5,253,085   5,681 5,247,404 
Central African Republic 29,325  29,325 
Chad 37,145  37,145 
Chile 778,090 743 777,347 
China 15,921,520   7,046 15,914,474 
Colombia 488,750 383 488,367 
Congo 56,695  56,695 
Costa Rica 146,625 158 146,467 
Côte d'Ivoire 105,570  105,570 
Croatia 287,385 214 287,171 
Cuba 146,625 90 146,535 
Cyprus 117,300 128 117,172 
Czech Republic 1,429,105   1,433 1,427,672 
Democratic Republic of the Congo 87,975  87,975 
Denmark 1,728,220  1,786 1,726,434 
Djibouti 29,325  29,325 
Dominica 29,325  29,325 
Dominican Republic 154,445   6 154,439 
Ecuador 215,050 36 215,014 
Egypt 572,815 560 572,255 WT/BFA/W/365 
- 68 - 
 Country Assessed 
Contributions   Interests gained 
for 2014 Net Assessed 
Contributions  
El Salvador 80,155  80,155 
Estonia 179,860 187 179,673 
Fiji 29,325 26 29,299 
Finland 1,129,990 932 1,129,058 
France 7,988,130 7,413 7,980,717 
Gabon 43,010   2 43,008 
The Gambia 29,325  29,325 
Georgia 54,740 49 54,691 
Germany 16,410,270 14,913 16,395,357 
Ghana 117,300      44 117,256 
Greece 868,020  868,020 
Grenada 29,325  29,325 
Guatemala 136,850 95 136,755 
Guinea 29,325  29,325 
Guinea-Bissau 29,325  29,325 
Guyana 29,325 19 29,306 
Haiti 29,325 25 29,300 
Honduras 87,975   1 87,974 
Hong Kong, China 4,952,015   5,003 4,947,012 
Hungary 1,202,325     733 1,201,592 
Iceland 78,200 87 78,113 
India 3,853,305   1,249 3,852,056 
Indonesia 1,634,380   1,349 1,633,031 
Ireland 2,128,995  1,513 2,127,482 
Israel 842,605     336 842,269 
Italy 6,443,680   5,611 6,438,069 
Jamaica 66,470   3 66,467 
Japan 8,850,285  5,919 8,844,366 
Jordan 158,355 94 158,261 
Kenya 109,480 70 109,410 
Korea, Republic of 5,526,785   2,870 5,523,915 
Kuwait, the State of 637,330  637,330 
Kyrgyz Republic 35,190 19 35,171 
Lao People's Democratic Republic 29,325  29,325 
Latvia 156,400     154 156,246 
Lesotho 29,325  29,325 
Liechtenstein 46,920 46 46,874 
Lithuania 287,385 92 287,293 
Luxembourg 785,910     427 785,483 
Macao, China 211,140     127 211,013 
Madagascar 29,325 10 29,315 
Malawi 29,325  29,325 
Malaysia 2,181,780   1,832 2,179,948 
Maldives 29,325 26 29,299 
Mali 29,325  29,325 
Malta 80,155 66 80,089 
Mauritania 29,325  29,325 
Mauritius 58,650 56 58,594 
Mexico 3,376,285   3,003 3,373,282 
Moldova, Republic of 39,100 30 39,070 
Mongolia 39,100  39,100 
Montenegro 29,325       9 29,316 
Morocco 373,405     197 373,208 
Mozambique 43,010 29 42,981 
Myanmar 68,425 29 68,396 
Namibia 50,830 44 50,786 
Nepal 35,190 19 35,171 
Netherlands 5,986,210   5,095 5,981,115 
New Zealand 432,055     441 431,614 
Nicaragua 46,920 29 46,891 
Niger 29,325  29,325 
Nigeria 752,675  752,675 
Norway 1,657,840     922 1,656,918 
Oman 328,440     121 328,319 
Pakistan 349,945     311 349,634 
Panama 199,410     111 199,299 
Papua New Guinea 44,965  44,965 WT/BFA/W/365 
- 69 - 
 Country Assessed 
Contributions   Interests gained 
for 2014 Net Assessed 
Contributions  
Paraguay 99,705   1 99,704 
Peru 375,360     241 375,119 
Philippines 666,655     627 666,028 
Poland 2,207,195   1,847 2,205,348 
Portugal 922,760     559 922,201 
Qatar 551,310 336 550,974 
Romania 713,575 643 712,932 
Russian Federation 4,226,710  4,226,710 
Rwanda 29,325   1 29,324 
Saint Kitts and Nevis 29,325   7 29,318 
Saint Lucia 29,325 10 29,315 
Saint Vincent and the Grenadines 29,325  29,325 
Samoa 29,325  29,325 
Saudi Arabia, Kingdom of 2,326,450 131 2,326,319 
Senegal 44,965  44,965 
Sierra Leone 29,325  29,325 
Singapore 4,508,230   4,295 4,503,935 
Slovak Republic 782,000     635 781,365 
Slovenia 357,765     263 357,502 
Solomon Islands 29,325 24 29,301 
South Africa 1,069,385   1,003 1,068,382  
Spain 4,590,340     726 4,589,614 
Sri Lanka 140,760 27 140,733 
Suriname 29,325 26 29,299 
Swaziland 29,325 16 29,309 
Sweden 2,365,550   2,211 2,363,339 
Switzerland 2,873,850   2,562 2,871,288 
Chinese Taipei 3,032,205   2,769 3,029,436 
Tajikistan 29,325  29,325 
Tanzania 78,200  78,200 
Thailand 2,207,195   1,831 2,205,364 
The former Yugoslav Re public of Macedonia 58,650  58,650 
Togo 29,325  29,325 
Tonga 29,325 29 29,296 
Trinidad and Tobago 119,255 50 119,205 
Tunisia 244,375 58 244,317 
Turkey 1,908,080   1,633 1,906,447 
Uganda 46,920  46,920 
Ukraine 809,370     561 808,809 
United Arab Emirates 2,385,100   1,707 2,383,393 
United Kingdom 7,954,895    8,746 7,946,149 
United States of America 22,298,730     839 22,297,891 
Uruguay 103,615  103,615 
Vanuatu 29,325  29,325 
Venezuela, Bolivarian Republic of 725,305  725,305 
Viet Nam 856,290     582 855,708 
Yemen 53,653  53,653 
Zambia 62,560 29 62,531 
Zimbabwe 39,100  39,100 
GRAND TOTAL    195,553,653 124,712 195,428,941 WT/BFA/W/365 
- 70 - 
 4.5.2  Schedule B 2014 Early payment encouragement scheme 
Table 67 Interest to be distributed to Members 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 
Japan 3,266  Trinidad and Tobago  37 
Jordan     79 Tunisia  27 WT/BFA/W/365 
- 71 - 
 Members Interest earned Members Interest 
earned 
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/365 
- 72 - 
 4.5.3  Schedule C Statement of Outstand ing Contributions as 31 December 2014 – 
Members 
Table 68 Outstanding contributions as 31 December 2014 – Members 
Members Contributions 
(Swiss Francs)  Cat. 1974-
2012 2013 2014 TOTAL Advance 
Albania             
Angola           5,240  
Antigua and Barbuda II 39,493  29,325  29,325  98,143    
Argentina       779,781  779,781    
Armenia             
Australia             
Austria               2,147,653  
Bahrain, Kingdom of             
Bangladesh             
Barbados             
Belgium             
Belize             
Benin     957  29,325  30,282    
Bolivia, Plurinational State of             
Botswana             
Brazil             
Brunei Darussalam             
Bulgaria             
Burkina Faso     4,619  29,306  33,925    
Burundi (2)   433,514  29,325  29,325  492,164    
Cabo Verde       29,303  29,303    
Cambodia             
Cameroon I 1,397  70,347  64,483  136,227    
Canada             
Central African Republic III 909,777  29,325  29,325  968,427    
Chad (2)   783,654  41,055  37,145  861,854    
Chile             
China             
Colombia             
Congo       21,854  21,854    
Costa Rica           185,075  
Côte d'Ivoire (2)   144,423  107,525  105,570  357,518    
Croatia       71,111  71,111    
Cuba       67,351  67,351    
Cyprus             
Czech Republic             
Democratic Republic of the 
Congo       87,975  87,975    
Denmark             
Djibouti (2)   252,032  29,325  29,325  310,682    
Dominica III 86,100  29,325  29,325  144,750    
Dominican Republic     140,919  154,439  295,358    
Ecuador             
Egypt             
El Salvador     3,655  80,155  83,810    
Estonia           175,870  
European Union (1)             
Fiji       5  5    
Finland             
France             
Gabon     424  43,008  43,432    
The Gambia (2)   306,494  29,325  29,325  365,144    
Georgia           58,636  
Germany             WT/BFA/W/365 
- 73 - 
 Members Contributions 
(Swiss Francs)  Cat. 1974-
2012 2013 2014 TOTAL Advance 
Ghana             
Greece             
Grenada III 83,640  29,325  29,325  142,290    
Guatemala             
Guinea       28,786  28,786    
Guinea-Bissau III     524,664        29,325  29,325  583,314    
Guyana           19,712  
Haiti             
Honduras       17,292  17,292    
Hong Kong, China             
Hungary          14     14    
Iceland             
India           33,579  
Indonesia             
Ireland             
Israel           1  
Italy             
Jamaica     37,331  66,467  103,798    
Japan             
Jordan             
Kenya       13,348  13,348    
Korea, Republic of             
Kuwait, the State of       637,330  637,330    
Kyrgyz Republic       1,165  1,165    
Lao People's Democratic 
Republic             
Latvia             
Lesotho       29,325  29,325    
Liechtenstein           52,764  
Lithuania             
Luxembourg             
Macao, China             
Madagascar       5,500  5,500    
Malawi     253  29,325  29,578    
Malaysia             
Maldives             
Mali           980  
Malta             
Mauritania III 932,483  29,325  29,325  991,133    
Mauritius             
Mexico             
Moldova, Republic of             
Mongolia       39,100  39,100    
Montenegro             
Morocco             
Mozambique             
Myanmar       2,175  2,175    
Namibia             
Nepal        140   140    
Netherlands             
New Zealand             
Nicaragua           42,700  
Niger (2)   470,201  29,325  29,325  528,851    
Nigeria     38,174  752,675  790,849    
Norway             
Oman             
Pakistan             
Panama       3,085  3,085    WT/BFA/W/365 
- 74 - 
 Members Contributions 
(Swiss Francs)  Cat. 1974-
2012 2013 2014 TOTAL Advance 
Papua New Guinea           1,160  
Paraguay     30,434  99,704  130,138    
Peru             
Philippines             
Poland             
Portugal             
Qatar             
Romania             
Russian Federation             
Rwanda       29,324  29,324    
Saint Kitts and Nevis           4,353  
Saint Lucia             
Saint Vincent and the 
Grenadines     14,601  29,325  43,926    
Samoa       29,324  29,324    
Saudi Arabia, Kingdom of             
Senegal           829  
Sierra Leone (2)   680,647  29,325  29,325  739,297    
Singapore            4,607,938  
Slovak Republic             
Slovenia             
Solomon Islands             
South Africa               1,068,942  
Spain             
Sri Lanka             
Suriname       29,299  29,299    
Swaziland             
Sweden             
Switzerland               3,048,907  
Chinese Taipei             
Tajikistan             
Tanzania     63,330  78,200  141,530    
Thailand              2,300,092  
The former Yugoslav Republic 
of Macedonia II 58,290  58,650  58,650  175,590    
Togo (2)   57,270  29,325  29,325  115,920    
Tonga             
Trinidad and Tobago             
Tunisia             
Turkey             
Uganda       42,826  42,826    
Ukraine             
United Arab Emirates             
United Kingdom             
United States of America       6,689,367  6,689,367    
Uruguay             
Vanuatu I   3  29,325  29,325  58,653    
Venezuela, Bolivarian Republic 
of     88,948  725,305  814,253    
Viet Nam             
Yemen       53,653  53,653    
Zambia       62,531  62,531    
Zimbabwe       39,100  39,100    
Yugoslavia (3)   830,439      830,439    
GRAND TOTAL   6,594,521  1,082,447  11,574,371  19,251,339  13,754,431  
(1) No assessment is made in the European Union as such. 
(2) Member under payment scheme. (3) Former Contracting Party to GATT 1947 which is not WTO Member. WT/BFA/W/365 
- 75 - 
 4.5.4  Schedule D Statement of Outstand ing Contributions as 31 December 2014 – 
Observers 
Table 69 Outstanding contributions as 31 December 2014 - Observers 
Observers 
Contributions  
(Swiss Francs) Category 2001-2012  2013 2014 TOTAL Advance  
Afghanistan          36     36    
Algeria             
Andorra             
Azerbaijan             
Bahamas             
Belarus             
Bhutan             
Bosnia and Herzegovina              
Comoros             
Equatorial Guinea       29,325   29,325    
Ethiopia             
Holy See             
Iran       275   29,325   29,600    
Iraq             
Kazakhstan             
Lebanon       29,325  29,325    
Liberia       3,147  3,147    
Libya     25,896  29,325  55,221    
Sao Tome And Principe III 306,529   n/a   n/a  306,529    
Serbia             
Seychelles             
Sudan     4,833   29,325  34,158    
Syrian Arab Republic       29,325  29,325    
Uzbekistan             
Total  306,529  31,004  179,133  516,666  
 
 
 
 
   
 WT/BFA/W/365  
- 76 - 4.5.5  Schedule E Voluntary contributions re ceived in 2014 and 2013 per donor and by fund 
Table 70 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/365  
- 77 - Table 71 WTO Trust funds - Voluntary contributi ons received in 2013 per donor and by fund 
 
Funds 
 
 
 
 
 
 
 
Donors 
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 
TOTAL 
Australia 2,689,900      392,120    3,082,020 
Austria 243,600         243,600 
Canada        903,751   903,751 
China         362,800  362,800 
Denmar k 491,063       491,063   982,127 
Estonia 24,160         24,160 
European Union 1,232,000   110,880   443,520  246,400  448,448   2,481,248 
France 617,000  617,000        1,234,000 
Germany 1,233,000       183,750   1,416,750 
Ireland   184,800  86,240   61,600   227,920   560,560 
Japan 368,744       85,502   454,246 
Korea, Republic of 313,600         313,600 
Liechtenstein 40,000         40,000 
Norway 2,287,108     99,108  152,474  228,711   2,767,401 
Sweden 2,245,600     283,300   962,220   3,491,120 
Switzerland 800,000         800,000 
Chinese Taipei 181,400       74,400   255,800 
United States 851,885         851,885 
UNOPS  3,931,499        3,931,499 
 Total  13,619,060 3,931,499 801,800  197,120  - 1,279,648  398,874  3,605,765  362,800  24,196,567 
 
   
 WT/BFA/W/365  
- 78 - 4.5.6  Schedule F Balance due to donors as 31 December 2014 and 2013 
Table 72 WTO Trust funds - Balance due to donors as 31 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  
Denmar k 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/365  
- 79 - Table 73 WTO Trust funds - Balance due to donors as 31st December 2013 
Funds  
 
 
 
 
 
 
Donors 
Doha 
development 
agenda global 
trust fund 
Enhanced 
integrated 
framework – 
Executive 
secretariat 
Mission 
internship 
programme 
Independent 
entity 
Program 
support fund 
9th 
Ministerial 
conference - 
LDCs 
Trainee 
program 
Trade 
facilitation –
Human 
resou rces 
Trade 
facilitation – 
National 
needs 
assessments 
Trade 
facilitation – 
Negotiating 
group 
STDF 
Standards 
and trade 
development 
facility 
China LDCs 
and 
accessions 
programme 
Total 
Australia 2,506,820        197,886.17   91,727   2,796,433 
Austria 364,457            364,457 
Canada 786,065          2,206,497   2,992,562 
China 22,301           476,610  498,911 
Denmar k 596,129  0         968,338   1,564,466 
Finland 396,340          493,510   889,850 
France 935,915  931,170           1,867,084 
Germany 1,822,382          429,145   2,251,527 
Ireland 88,802  474,287       57,019   463,178   1,083,286 
Italy           15,793   15,793 
Japan 564,802          320,729   885,531 
Korea, Republic of 474,443            474,443 
Liechtenstein 46,195            46,195 
Luxembourg 32,699            32,699 
Netherlands 456,619      142,949    834,285   1,433,853 
Norway 3,224,377        111,074  242,675  470,706   4,048,832 
Sweden 3,326,384        142,944  87,034  2,192,067   5,748,429 
Switzerland 924,218        20,978.83   395,834   1,341,030 
Chinese Taipei  168,154        54,140   112,383   334,677 
United Kingdom          25,404  107,084   132,488 
United States 1,321,364        71,324   224,190   1,616,877 
Organizations:              
UNOPS  1,182,185           1,182,185 
Others:              
Bureau Veritas International 
Ltd.    17,687          17,687 
Cotecna International Ltd.    17,594          17,594 
Inchcape Testing Services Int'l Ldt.    17,689          17,689 
Inspectorate Griffith Ltd.    17,687          17,687 
Société Générale de Surveillance S.A.    17,527          17,527 
Total 18,058,466 1,182,185 1,405,457  88,184  997,826  - 142,949 - 655,365  355,113  9,325,464  476,610  32,687,618   
 WT/BFA/W/365  
- 80 - 4.5.7  Schedule G Interest earned in 2014 and 2013 
Table 74 WTO Trust funds - Interest earned in 2014 
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    
 WT/BFA/W/365  
- 81 - Table 75 WTO Trust funds - Interest earned in 2013 
Funds  
 
 
 
 
 
Donors 
Doha 
developmen
t agenda 
global trust 
fund 
Enhanced 
integrated 
framework 
– Executive 
secretariat 
Mission 
internship 
programme 
9th 
Ministerial 
conference 
- LDCs 
Trainee 
program 
Trade 
facilitation 
–Human 
resources 
Trade 
facilitation 
– National 
needs 
assessment
s 
Trade 
facilitation 
– 
Negotiating 
group 
STDF 
Standards 
and trade 
developmen
t facility 
China LDCs 
and 
accessions 
programme 
Total 
Australia 1,303   1   177   53  1,534 
Austria 333   3       336 
Canada 827   13     1,278   2,119 
China 23         298 322 
Czech Republic 260          260 
Denmar k 19  127 21     362  529 
European Union 263   31   76  37 89  496 
Finland 417   11     286  714 
France 564  608        1,172 
Germany 1,353        191  1,543 
Iceland    2       2 
Ireland 93  401 29   39  199  762 
Italy         9  9 
Japan 361        160  521 
Korea, Republic of 290          290 
Liechtenstein 22          22 
Luxembourg 34   1       35 
Netherlands 480    354    484  1,318 
Norway 1,980   54   108  104 196  2,441 
Sweden 2,108   86   77 59 1,079   3,409 
Switzerland 668   7   24   230  929 
Chinese Taipei 43   7   63  42  155 
United Kingdom    16    17 62  95 
United States 799      82  130  1,012 
UNOPS  1,776          1,776 
Total 12,240 1,776  1,137  282 354 - 646 218 4,850  298 21,800 
 WT/BFA/W/365 
- 82 - 
 4.5.8  Schedule H World Trade Organization – Program Support Fund 
Table 76 WTO Program support fund 
  2014  2013  
Opening Balance 997,827  872,433  
Income 2,439,686  2,383,906  
Total income 3,437,513  3,256,339  
Retrocession to other 
organizations 433,179  118,255  
Salary costs 1,842,475  1,945,688  
Share of certain secretariat cost 184,247  194,569  
Total costs 2,459,900  2,258,512  
Closing balance 977,613  997,827  
 
Table 77 WTO Program support fund actual expenditure and overheads 
Funds Actual expenditure Overheads 
CHF 
13% of actual 
expenses 
   2014  2013  2014 2013  
Doha Development Agenda Global Trust Fund  8,271,427  7,070,237  1,075,286 919,131  
Enhanced Integrated Framework - Executive 
Secretariat 3,487,232  3,946,955  453,340 513,104  
Mission Internship Programme 833,310  1,156,301  108,330 150,319  
9th Ministerial Conference - LDCs   568,828    19,670  
Netherlands Trainee Programme 700,973  806,201  91,126 104,806  
Trade Facilitation - National Needs Assessments 719,975  1,002,086  93,597 130,271  
Trade Facilitation - LDCs 181,963  335,031  23,655 43,554  
Standards and Trade Development Facility 4,488,442  3,615,240  583,497 469,981  
China LDCs and Accesions Programme 83,494  254,380  10,854 33,069  
Other extra budgetary funds:  IE - Preshipment 
inspection   52    0  
Other extra budgetary funds:  Program support 
fund   2,140,257    0 
Total  18,766,816  20,895,569  2,439,686 2,383,906  
 
 WT/BFA/W/365 
- 83 - 
 Table 78 Overheads shared with other organizations 
Overheads shared with other organizations Retrocession amount 
  2014 2013 
STDF - ITC 30,880  35,966  
STDF - FAO 297,864  9,700  
STDF - IICA 14,420  16,066  
STDF - OIRSA 8,738  8,175  
STDF - UNDP 19,753  0 
STDF – CAB International 25,515  15,362  
STDF - FEEDLATINA 10,549    
STDF - COMESA 15,592    
TIFES - UNDP 104  22,433  
TIFES - UNWTO 1,166    
DDAGTF - Pacific Island Forum Secretariat -  7,678  
DDAGTF - UNESCAP 457  2,482  
DDAGTF - University of India -  -1,116  
DDAGTF - FORSEC 8,346    
DDAGTF - OCTA -  1,509  
Total Retrocession 433,179  118,255  
Total Expenses 19,199,995  21,013,824  
Net Income - Programme Support Fund 2,006,507  2,265,651  
(Overhead charges - Retrocession) 
 
 
__________