WORLD TRADE  
ORGANIZATION  WT/BFA/W/142 
29 November 2006 
 (06-5736) 
Committee on Budget, Finance and Administration  
  
 
     
DIRECTOR-GENERAL'S BUDGETARY AND FINANCIAL REPORT 
 
FOR 2005 
 
AND REPORT OF THE EXTERNAL AUDITOR THEREON 
 
 
(INCLUSIVE OF THE BIENNIUM SUMMARY FOR 2004/2005) 
  WT/BFA/W/142 
Page 2  
 
   
TABLE OF CONTENTS
 
 
I. INTRODUCTION ................................................................................................................... .3 
II. BIENNIAL BUDGET 2004 AND 2005 ...................................................................................3  
III. OVERALL EXPENDITURE IN THE WTO IN 2005...........................................................3  
IV. INCOME......................................................................................................................... .........12  
V. SURPLUS ACCOUNT ...........................................................................................................13  
VI. GENERAL FUND................................................................................................................... 14 
VII. WORKING CAPITAL FUND...............................................................................................16  
VIII.  EARLY PAYMENT ENCOURAGEMENT SCHEME ......................................................16  
IX. OPERATING FUNDS............................................................................................................16  
X. NEW ANNEXE BUILDING FOR THE WTO ....................................................................18  
XI. REPORT OF THE EXTERNAL AUDITOR ON THE ACCOUNTS OF THE 
WORLD TRADE ORGANIZATION FO R THE FINANCIAL PERIODS 2004 
AND 2005 OF THE BIENNIUM 2004/2005.........................................................................20  
OPINION  OF THE  EXTERNAL  AUDITOR  ON THE  ACCOUNTS  OF THE  WORLD  
TRADE  ORGANIZATION  FOR  THE  BIENNUM  ENDED  31 DECEMBER  2005......................27  
2004  – 2005  BIENNIUM  OVERVIEW...............................................................................................28  
Statement 1a: WTO Secretariat - Statem ent of Budgetary Expenditure 2005............................29  
Statement 1b: Appellate Body  and its Secretariat.......................................................................30  
Statement 2: Income and Expenditure Account  for the year ended 31 December 2005...........31  
Statement 3: Surplus Account for the year ended 31 December 2005......................................32  
Statement 4: Statement of Assets and Liabilities as at 31 December 2005 
 –  General Fund....................................................................................................33  
Statement 5: Statement of Assets and Liabilities as at 31 December 2005  – WCF.................34 
Statement 6: Statement of WTO Annex Building Fund – Phase I as 
 at 31 December 2005 ...........................................................................................35 
SCHEDULE A 2005 Early Payment Encouragement Scheme .....................................................36  
SCHEDULE B Statement of Outstanding as at 31 December 2005 .............................................41  
SCHEDULE C  Observers Statement of Outstanding Contributions as at 
  31 December  2005 ...............................................................................................46 
SCHEDULE D Investments Held on 31 December 2005 (IN CHF).............................................47  
SCHEDULE E  Investments Held on 31 December 2005 (IN EUR) ............................................48  
SCHEDULE F  Investments Held on 31 December 2005 (IN GPB).............................................49  
SCHEDULE G  Investments Held on 31 December 2005 – Working Capital Fund .....................50  
SCHEDULE H  Investments Held on 31 December 2005 - WTO  Annex Building ......................51  
ANNEX   Statement of Significant Accounting Policies......................................................52  
  WT/BFA/W/142 
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  I. INTRODUCTION 
1. In accordance with Regulations 24, 26 and 29  of the World Trade Organization Financial 
Regulations (WT/L/156/Rev.1), the Director-General  hereby submits the B udgetary and Financial 
Report of the World Trade Organization (WTO) for the financial year ended 31 December 2005, the 
second year of the 2004-2005 biennium.  The a nnual accounts are presented in Swiss francs.   
2. At its meeting on 14, 16 and 23 October 1998, the General Council adopted the resolution in 
document WT/GC/W/102/Rev.1 which set out the conditions  of service applicable to the staff of the 
WTO Secretariat.  These conditions of service have been applied in the WTO Secretariat with effect from 1 January 1999. 
3. The WTO Financial Rules and Regulations were approved by th e General Council in 
November 1995 (WT/GC/M/8) and August 2003 (WT/GC/M/82), respectively.  They have been 
applied as from 1 January 1996 and 1 January 2004, respectively. 
II. BIENNIAL BUDGET 2004 AND 2005 
Approved Budget for 2004/2005
 
 
4. Pursuant to the recommendations of the Co mmittee on Budget, Finance and Administration 
(CBFA) (Document WT/BFA/70), Members of the WTO in approving the first WTO biennial budget 
appropriated CHF 161,776,500 and CHF 166,804,200 for the years 2004 and 2005 respectively 
(Document WT/GC/M/84).  
5. For 2004, the appropriation is CHF 157,060,700 for the WTO Secretariat and CHF 4,715,800 
for the regular expenditure of the Appellate Body and its Secretariat.  
6. In considering the developments of the 2003 Mi nisterial Conference and the fact that this 
budget was the first biennial budget for the WTO, Me mbers agreed to review the 2005 appropriations 
in 2004 in the course of the mid-term review. 
7. In this respect, at the recommendation of the Committee on Budget, Finance and 
Administration (Document WT/BFA/75), Members of the WTO, in approving the revised 2005 
budget, appropriated CHF 168,703,400 for 2005 whic h is represented by CHF 164,131,000 for the 
WTO Secretariat and CHF 4,572,400 for the regula r expenditure of the Appellate Body and its 
Secretariat. (Document WT/GC/M/90).  
III. OVERALL EXPENDITURE IN THE WTO IN 2005 
8. In the course of 2005, expenditure was incurre d in respect of the annual budget of the WTO 
as well as extra budgetary funds, made up of trust fu nds and other funds (ope rating funds paragraphs 
80 – 86).  The total overall expenditure of the Organization in 2005 amounted to CHF 190,942,100.  
Expenditure under the annual budget of the Organi zation accounted for 87 per cent of the total, 
corresponding to CHF 166,738,076.  Expenditure against extra budgetary funds represented 13 per 
cent or CHF 24,204,024 (excluding overhead).   
2005 REGULAR BUDGET 
9. Pursuant to the recommendations of the Co mmittee on Budget, Finance and Administration 
(Document WT/BFA/75), Members of the WTO appr opriated CHF 168,703,400 for the financial year 
2005, CHF 164,131,000 for the WTO Secretariat and CHF 4,572,400 for the regular expenditure of the Appellate Body and its Secretariat (Document WT/GC/M/90).  WT/BFA/W/142 
Page 4  
 
  EXPENDITURE:  WTO 
 2005  Budgetary Situation
 
 
10. Expenditure for the WTO and the Appellate Body Secretariat for 2005 amounted to 
CHF 166,738,076 1 equating to a budgetary saving of CHF 1,965,324 .  This budgetary saving is 
comprised of CHF 1,790,561 for the WTO Regular  Budget and a budgetary surplus of CHF 174,763 
for the Appellate Body and its Secretariat.   
WTO Regular Budget  
 P
ERSONNEL -RELATED COSTS  
 11. Sections (1 and 2
) include the cost of salaries, pensi on contributions and common staff costs 
associated with established posts and temporary assistance respectively.   
12. The excess expenditure of CHF 2,009,865 on pers onnel-related costs is the net result of 
various under and over-expenditur es under a number of sub-items.  The savings that occurred under 
Section 1  (Staff Work Years) did not cover the over-expenditure under 
Section 2  (Temporary Assistance):  
   C H F  
 Section 1 - Staff Work Years   3,162,665   Section 2 - Temporary Assistance  (5,172,530)
 
 Total     (2,009,865 ) 
 13. Under Section 1
 (Staff Work Years), the saving of CHF 3,162,665 can be sub-divided into 
under-expenditures of CHF 3,556,416 in respect of Salaries, and CHF 892,621 in respect of Pensions 
which offset the over-spending of CHF 1,286,372 in respect of 'Common Staff Costs'.  The estimated 
saving with respect to vacant posts for 2005 amounted to CHF 2,982,400 of which CHF 1,188,403 
was utilised for temporary assistance.  For Section 2  (Temporary Assistance), expenditure exceeded 
the appropriations by CHF 5,172,530.  
14. The over-spending under ‘Common Staff Costs' of CHF 1,286,372 is due to:  staff turnover, 
changes in staff profiles from those anticipated , variations resulting from under which year an 
entitlement is taken as well as an unforeseen number of  staff who decided to end their contracts with 
the WTO in 2005.  The over-expenditure includes the cost of the redundancy packages concluded 
with security guards as their contracts were terminat ed in favour of an outsourced service.  In this 
connection, 2005 expenditure amounted to CHF 1,459,9012 whereas the 2005 budget provided for the 
2004 allotment of CHF 709,5003 as the severance of these contracts was re-scheduled.     
                                                      
1 The refund with respect to the overhead charges made on activities funded through the Program 
Support Fund was, in previous years, credited to budgeta ry accounts.  The examination of the proportions used on 
this credit proved to be non-representative, and consequen tly the credit was recorded as Miscellaneous Income for 
2004.  This practice has been reviewed in 2005 and confirmed that the refund is to be treated as Miscellaneous Income. 
2 Includes CHF 42,219 as the Organizations contribution to social coverage until the age of retirement 
has been reached. 
3 The un-appropriated budgetary provision for 2005 for the security redundancy packages was 
CHF 686,300.   WT/BFA/W/142 
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   The savings are comprised of:  
 
(a) Medical Insurance – CHF 267,900:  reflecting the saving from the volume of vacant 
posts.     
 
(b) Family Allowances – CHF 102,659 and E ducation Grants - CHF 342,361, reflecting 
variations in staff profiles and the un utilized allocations corresponding to vacant 
posts. 
 
(c) Language Allowances – CHF 14,218:  this en titlement is payable to staff recruited 
prior to 1998.  Expenditure is, as anticip ated, decreasing as older staff separate. 
 (d) Rental Subsidy – CHF 28,635. 
 (e) Non-residence allowance – CHF 2,700. 
 
 Offset by over-expenditure under the following sub-items:  
(f) Separations – CHF 869,966 comprised of untaken leave upon termination 
CHF 217,838, death benefit CHF 139,258 and Termination Indemnity CHF 512,869, 
of which CHF 510,898 was due to the severance settlement for the guards. 
 
(g) Travel and Removal Costs – CHF 429,306:  CHF 124,844 related to staff departures;  
CHF 70,809 related to interview travel co sts of candidates and installation travel, 
CHF 233,654 were spent for the recruitment of the new staff.  
 
(h) Repatriation Grants – CHF 400,087 as more st aff decided to take up early retirement 
than anticipated which includes CHF 126,62 0 being the statutory entitlements due to 
the termination of staff. 
 (i) Home leave – CHF 290,569 influenced by  increased entitlements taken in 2005. 
 
(j) Installation Grants – CHF 54,917. WT/BFA/W/142 
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  15. Section 2
 (Temporary Assistance):  The over-expe nditure under this section in 2005 
amounted to CHF 5,172,5304.  As mentioned above, this over-exp enditure was partially offset by 
savings under vacant posts (Section 1 – Work Y ears), and though not normally referred to under 
personnel-related costs, a saving of CHF 926,441 is  referenced, in this exceptional year, under the 
'Security Outsourcing Contract' under Section 7 - Contractual Services, to offset the unforeseen 
expenditure on the retention of secu rity temporary assistance contracts, whilst the contract for the 
outsourcing service was being concluded. 
16. Budgetary Situation of Temporary Assistance 2005 
TEMPORARY 
ASSISTANCE Budget Expenditure Balance 
Messengers/Drivers & 
Manual Workers 226,000 574,681 (348,681) 
Pool 589,100 698,316 (109,216) 
Reproduction 281,500 414,383 (132,883) 
Guards 0 623,112 (623,112) 
Conference 50,000 22,044 27,956  
Secretaries/Clerks 94,450 1,142,113 (1,047,663) 
Interpreters 1,646,000 2,095,090 (449,090) 
Translators 7,621,300 7,764,475 (143,175) 
Consultants 597,700 224,853 372,847  
Consultants EDP 1,493,700 1,699,122 (205,422) 
Internship 172,500 251,441 (78,941) 
Overtime 346,000 715,342 (369,342) 
Replacements 540,000 1,075,757 (535,757) 
Common staff costs 528,500 1,654,767 (1,126,267) 
Other Total 14,186,750 18,955,496 (4,768,746) 
Security redundancy 0 403,784 (403,784) 
Grand Total 14,186,750 19,359,280 (5,172,530) 
 
17. In accepting the outsourcing of the security ser vices to an external provider, the entire 
budgetary allocation for temporary assistance guards was transferred to fund the outsourced security services provider under Section 7
 (Contractual Services).  As, the ex ternal provider's contract could 
only be concluded with a commencem ent date of 1 August 2005, the services of the temporary guards 
had to be extended to assure a security service at  the WTO, amounting to CHF 623,112.  This was 
offset by the saving of CHF 926,441 under the 'Security Outsourcing Contract' under Section 7  
(Contractual Services). 
18. Furthermore, as these guards would have served th e organization for several years, some of 
which had already attained four years, the Di rector-General endorsed the proposal to pay an 
indemnity of one month compensatory pay for each year served, provided that the overall settlement of all the guards remained within the overall envelope  set aside for this exercise.  In addition, untaken 
                                                     
 
4 Includes the expenditure under the development of the Distance Learning module CHF 66,840, two 
Special Trade Policy Courses CHF 74,180, and for the four regular budget Trade Policy Training Courses 
CHF 55,590 all under the WTO Training Institute.  WT/BFA/W/142 
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  leave balances were settled, as well as an amount of CHF 403,784 in lieu of compensatory-time-off 
(CTO) for the hours of overtime worked.  
19. With the exception of Conference Staff and Consultants divisions resorted to temporary 
assistance to meet their staffing needs. Over-spe nding is reported on under the following sub-items:  
Secretaries/Clerks, Guards, Messengers/Drivers/Manual Workers, Replacements (staff on maternity 
or long sick leave), Internships and Overtime.  The over-expenditure with respect to Common Staff 
Costs is directly related to the expenditure incu rred for all the sub-items under temporary assistance. 
20. Whereas in 2004, a saving was reported on for translations, text processing and 
documentation services, all expenditure under these sub-lines of temporary assistance have exceeded their budgetary allocations.  The over-expenditure of CHF 449,090 under interpretation was not only 
due to an increase in the number of meetings wh ere interpretation was required but also includes 
expenditure due to the late cancellation of interpretation facilities for certain meetings. 
A
DMINISTRATIVE COSTS  
 21. This section of the budget covers items rela ted to communications, premises, permanent 
equipment, expendable supplies, and contractual services such as reproductio n costs, EDP software 
etc.  For Part B, a net budgetary saving of CHF 1, 996,223 has been realised in 2005.  In general, 
divisions did not exceed their budget allocations co ncerning their specific requirements.  However, 
variances against approved appropriations were primarily influenced from changes in project 
priorities and unforeseen activities.  The redistribution of EDP allocations to accommodate the re-prioritizing of projects contributed to some  of the variances linked with EDP expenditure
5.    
22. The overall budgetary saving on administrative costs is the net result of various under and 
over-expenditures on a number of sub-items.   
Budgetary savings were incurred for the following sections:  
  CHF   
 
Section 3 - Communications  179,292  
Section 5 - Permanent Equipment  626,608  Section 6 - Expendable Equipment  344,752  Section 7 - Contractual Services  943,291   And, were reduced by an over-expenditure under: 
 
Section 4 - Building Facilities  (97,719)
 
 Total     1,996,224
 
 
23. Under Section 3  (Communications), the overall budgetary saving of CHF 179,292 is 
comprised of under-expenditures of CHF 105,499 for telecommunications (telephones and faxes) as 
the Secretariat has made adjustments to the WTO telephone policy with restricted access to certain 
zones and prohibited access to others and different  providers of the service being used whenever 
possible.  The budgetary saving of CHF 73,792 was realised on postal services as more and more 
document demands were satisfied through the Docume nts-on-line service.  The Secretariat encourages 
competition amongst service providers on an on-going basis to obtain the lowest possible mailing 
costs. 
                                                      
5 An overall saving of CHF 206,289 was realised across all sections and lines of the EDP budget.  WT/BFA/W/142 
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  24. Section 5
 (Permanent Equipment), the overa ll budgetary saving of CHF 626,608 was 
primarily realised under EDP Equipment.  Ho wever, this saving of CHF 599,599 under EDP – 
Purchases was used to offset the over-expenditure under other specific EDP allocations as projects 
were re-prioritised.  In addition, as the current switchboard6 is malfunctioning and needs to be 
replaced, all non-essential replacement of communi cations equipment was postponed pending the 
findings of the communications consultant's report,  which attributed to a saving of CHF 60,402.  
Finally, the overall saving was utilised to  replace one additional official vehicle. 
25. Section 6  (Expendable Equipment), the budgetary saving of CHF 344,752 was primarily 
realised under Reproduction Supplies, as existing stoc ks of paper where utilized and fewer copies of 
documents were produced.  In addition, as more extensive use was made of the in-house printing 
facilities, printing associated with other regular and extra-budgetary lines or the printing of 
publications costs were credited back to this particular appropriation. 
26. Under Section 7  (Contractual Services), the budgetary  saving of CHF 943,291 realised under 
this section is comprised of CHF 76,072 with r espect to Reproduction, CHF 113,046 for the sub-item 
Other (vehicle repair, running costs, related insu rance and office equipment maintenance) which was 
reduced by an over-expenditure of CHF 172,268 under Office Automation7.  The Security 
Outsourcing contract commenced on 1 August 20 05 and generated a saving of CHF 926,441.  
27. This saving of CHF 926,441 is based on an antic ipated security outsourcing contract of 
CHF 2.8 million.  The budget allocation for 2005 is  CHF 2.1 million.  The saving under this heading 
was used to compensate for the over-expe nditure under the staffing for security.  
28. These savings were offset by ove r-expenditure under the following: 
29. Under Section 4  (Building Facilities), the overall ove r-expenditure of CHF 97,719 is the net 
result of budgetary savings under:  (i) Rental of Premises – CHF 35,804 as the facilities at the CICG 
became available after their refurbishment and no alternative conference arrangements had to be made 
to accommodate meetings which could not be held in  the Centre William Rappard, and  (ii) Utilities- 
CHF 42,667, primarily for heating fuel and elect ricity.  These savings were reduced by over-
expenditure under  (iii) Maintenance and Insu rance - CHF 176,190 as advantage was taken during 
wiring repairs to refurbish part of the ground and first floors of the Centre William Rappard.  
OTHER  
30. The overall budgetary saving of CHF 694,334 unde r Part C is the net result of various under 
and over-expenditures on a number of sub-items.  These savings were incurred for the following 
sections:  
                                                      
6 Planned re-placement of the switchboard scheduled for late 2007. 
7 Refer to Section 5 – Permanent Equipment EDP.  WT/BFA/W/142 
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    CHF   
 Section 9 - Missions  263,601  Section 10 - Trade Policy Training Courses  650,188  Section 12 - Unforeseen  100,000 
 
And was reduced by an over-expenditure under:  Section 8 - Staff Overheads   (205,477) Section 11 - Various  (113,979)
 
 
Total   694,334  
 31. Under Section 8
 (Staff Overhead Costs), the over-expe nditure of CHF 205,477 realised in 
2005 is comprised of:  the over-expenditure of CHF 262,698 for Joint Services which is primarily due 
to an over-expenditure of CHF 228,237 with respect  to the Joint Medical Service (JMS) where the 
cost of two medical staff members continued to  be funded through a reimbursable loan basis 
arrangement as their transfers were being negotiated.  The remuneration costs of these staff members would have otherwise been charged to Section 1
.  Costs for medical examinations continue to be 
charged to this budget line.  The over-expenditure under US taxes of CHF 62,329 is due to the non-
reimbursement of national income taxes further to  application of a recent judgement by the ILO 
Administrative Tribunal decision.  These costs are offset by:  a budgetary saving of CHF 14,522 
under Training, CHF 31,017 for In surance and Miscellaneous amounting to CHF 11,681, as less 
reliance is made on placing vacancy advertisements in  newspapers and journals and greater use made 
of the WTO Website for this purpose. 
32. The overall under-expenditure for Section 9  (Missions) amounted to CHF 263,601 and is 
comprised of Official Missions - CHF 94,340 a nd Technical Missions – CHF 169,261.  The saving 
under Technical Missions includes the budgetary savi ng of CHF 79,602 for the University Outreach 
Programme, for which implementati on lagged behind expectations. 
33. Under Section 10  (Trade Policy Training Courses), pursuant to the Ministerial Declaration 
(Document WT/MIN(01)/Dec/1), the General Counc il, in adopting the 2002 budget, approved the 
funding from the regular budget of:  (i) Geneva We ek, (ii) two short LDC courses and iii) one Special 
Trade Policy Course.  In 2003, this programme was extended and increased by one Special Trade 
Policy Course and the introduction of the University Outreach Programme.  In 2004, due to logistical 
difficulties with respect to accommodation, the pro posed budget allocation for the fifth regular Trade 
Policy Training Course was cancelled.  The programme remained unchanged in 2005. 
34. The overall saving of CHF 650,188 is comprised of the following:  
(a) with respect to the four regular Trade Policy Training Courses a budgetary saving of 
CHF 253,946 was realized;   
 (b) a budgetary saving of CHF 163,911 was made on the two short LDC courses; 
 
(c) a budgetary saving of CHF 123,487 was made on the two Special Short Trade Policy 
Courses; 
 
(d) Geneva Week:  from an initial overall budget of CHF 496,600, the overall budgetary 
saving amounted to CHF 105,003 of which CHF 83,628 is reflected under this section; 
 WT/BFA/W/142 
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  (e) a budgetary saving of CHF 33,381 with respect to three short Dispute Settlement 
Courses; 
 (f) expenditure of CHF 8,164 was incurred with respect to 'Distance Learning' where no 
provision was made in 2005. 
 
35. With respect to Section 12
 (Unforeseen Expenditure), no expe nditure was recorded under this 
section thereby recording a saving of the entire appropriation of CHF 100,000.  
36. Under Section 13  (Contribution to the International Tr ade Centre (ITC)) WTO contributions 
to the ITC in 2005 amounted to CHF 15,170,381 r esulting in a budgetary saving of CHF 1,109,869. 
37. Over-expenditure was incurred under the following sections: 
38. Under Section 11  (Various), aggregate expenditu re under this section exceeded the 
appropriations by CHF 113,979 a nd is represented by over-expenditure with respect to Experts – 
CHF 170,4978; Library - CHF 12,844;  External Audit - CHF 6709; ISO - CHF 80 and the Sixth 
Ministerial Conference - CHF 171,947, which were reduced by budgetary savings under Hospitality – 
CHF 42,890; Public Information Activities – CHF 15, 666;  Publications – CHF 89,885;  Dispute 
Settlement Panels - CHF 62,04 0 and Other – CHF 31,579.  
39. To avoid budgetary fluctuations  with respect to expenditure for Ministerial Conferences, the 
Committee on Budget Finance and Administration decided in 1999 (WT/BFA/44) to create a provision in the regular budget for this event and for it  to be carried forward in Non-Ministerial years.  
The expenditure under this heading concerns any t ype of expenditure that the organization would 
have had to incur should the Ministerial be held  at the headquarters in Geneva, and excludes all 
expenditure relating to its change of venue. 
40. The overall budget appropriations made for each  Ministerial Conference are CHF 1,200,000 
and are comprised of a budget allocation of CHF 600,000 for 2004 and 2005 respectively.  In 2004, after recording preparatory expenditure of CHF 167, 769, the balance of this appropriation, amounting 
to CHF 432,231, was carried forward to 2005.  Th e accumulated reserve under this operating fund 
amounting to CHF 1,032,231 was utilised to meet the 2005 sixth Ministerial Conference expenditure 
of CHF 1,204,179.  Expenditure in 2005, as mentioned above, exceeded the provision by 
CHF 171,947.    Security Enhancement Programme:
  This programme is compri sed of three elements:  
 
41. The funding of the Security Outsourcing C ontract through budgetary transfers amounted to 
CHF 2,125,100. 
 
42. Members approved an additional  appropriation of CHF 1,119,000 to  fund the five year plan of 
the Security Enhancement Programme  through an operating fund (SEOF)10, the initial details of which 
can be found in document CRP(04)22.  
43. In addition, under Section 1  – Work Years, a se parate amount of CHF 709,500 was approved to 
fund the initial costs with respect to  the redundancy costs of the existing se curity staff (refer to Sections 
1 and 2 personnel related costs).  
                                                      
8 Expenditure pertaining to Arbitration Services. 
9 Expenditure retaining to the reimbursement of travel expenses during their audit. 
10 Security Enhancement Opera ting Fund see paragraph 86.  WT/BFA/W/142 
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  44. In accordance with WTO Financ ial Regulation 24 a nd WTO Financial Rule 4.4, transfers 
between WTO budgetary sections of CHF 5,589,705 are necessary  in order to cover excess expenditure 
over approved appropriations by sa vings as detailed in paragraphs  13-38.  Authority is sought to 
increase these appropriations  accordingly, as follows: 
  
Section  From  To 
Section   1 Work Years 3,162,665   
Section   5 Permanent Equipment 54,424   
Section   7 Contractual Services 943,291   
Section   9 Missions 205,477   
Section  10 Trade Policy Training Courses 113,979   
Section  13 Contribution to the ITC 1,109,869   
      
Section   2 Temporary Assistance   5,172,530  
Section   4 Building Facilities   97,719  
Section   8 Staff Overheads   205,477  
Section  11 Various   113,979  
Total 5,589,705 5,589,705  
  
EXPENDITURE:  APPELLATE BODY 
 
45. Pursuant to the recommendation of the Committee on Budget, Finance and Administration 
(WT/BFA/51), the General Council approved (WT/GC/M /61) that the financing of the Appellate 
Body would be divided into two categories:  (i) permanent costs and (ii) variable costs.  The 
permanent costs form part of the regular budget procedure and are charged against the corresponding 
appropriations according to the financial regulati ons and rules within the limits set up by the WTO 
Members.  In this respect, WTO Members appropriated CHF 4,572,400 for the permanent costs of the 
Appellate Body for the financial year 2005 including  the second regular funding of the replenishment 
of the Appellate Body Operating Fund of CHF 1,141, 400, against which the variable costs associated 
with each appeal are charged. 
P
ERSONNEL -RELATED COSTS  
46. The budgetary savings of CHF 181,271 on pers onnel-related costs were the net result of 
under-expenditure of CHF 238,773 under Section 1  and an over-expenditure of CHF 57,502 under 
Section 2 .  Under Section 1  (Staff Work Years), the saving resulted from staff rotation and vacancies 
whilst, with respect to Section 2  (Temporary Assistance), over-expenditure was primarily due to 
additional internships and the common staff costs as sociated to temporary assistance hired to cover 
vacancies.  In maintaining a uniform standard  cost for both the WTO and the Appellate Body 
Secretariats, part of the savings under Section 1  is due to the fact that the standard cost applied is not 
representative of the relatively small number of staff in the secretariat.   
ADMINISTRATIVE AND OTHER COSTS  
47. A budgetary saving of CHF 6,508 was realised on Administrative and Other Costs, which is 
the net result of various over and under- expenditures on a number of sub-items. WT/BFA/W/142 
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  Over-expenditure was incurred for the following sections:  
  CHF
  
Section 5 - Permanent Equipment  (3,688) Section 7 - Contractual Services  (2,763) Section 8 - Staff Overheads  (9,159) 
Section 9 - Missions  (4,091) 
Section 11 - Various  (1,978)
 
 which were offset by savings under the following sections:  
Section 3 - Communications  734  
Section 4 - Building Facilities  5,000  Section 6 - Expendable Equipment  9,436
  
 Total     (6,509)
 
 
48. In accordance with WTO Financial Regulation 24  and Financial Rule 4.4, transfers between 
budgetary sections of CHF 79,181 are necessary  in order to cover exces s expenditure over approved 
appropriations by savings as detailed in paragraphs  45 through 47.  Authority is sought to increase 
these appropriations accordingly, as follows: 
 
Section From  To 
Section   1 Work Years 79,181   
Section   2 Temporary Assistance   57,502  
Section   5 Permanent Equipment   3,688  
Section   7 Contractual Services   2,763  
Section   8 Staff Overheads   9,159  
Section   9 Missions   4,091  
Section  11 Various   1,978  
Total 79,181 79,181  
IV. INCOME 
49. 2005 expenditure was funded from two sources:   (i) contributions assessed on Members and 
(ii) miscellaneous income. 
50. At the adoption of the income budget, contri butions for 2005 were assessed on Members at 
the amount of CHF 167,400,000 (Statement 2).  S ubsequently, a contribution of CHF 68,961 was 
assessed on the Kingdom of Saudi Arabia as a new WTO Member.  Collections as at 
31 December 2005 in respect of 2005 contributions represented CHF 167,468,961 (including interest 
of CHF 128,493 earned by Members in 2003 in the context of the Early Payment Encouragement 
Scheme). 
51. The details of miscellaneous income regarding (i) a comparison with 2004 figures and (ii) the 
excess of actual 2005 miscellaneous income over es timates by CHF 421,454 (Statements 2 and 3), are 
provided below:  WT/BFA/W/142 
 Page 13 
 
 
    2004 2005 2005 2005 
  Actual  Estimated  Actual  Balance  
  CHF   CHF   CHF  CHF  
Sale of Publications/Souvenir s & Royalties 166,835 180,000 111,73811 (68,262) 
Profit or (loss) on exchange (337,473) -  227,584 227,584 
Savings on previous year's  
  outstanding obligations 162,906 153,000 121,423 (31,577) Rental of meeting rooms and office    space at Centre William Rappa rd 143,545 130,000  153,070 23,070 
Contributions of Observer Countries 733,803 680,000 814,072 134,072 
Interest on Current Accounts  50,881   40,000 60,357 20,357 
Various  718,772
 120,400  236,610  116,210  
 Total  1,639,269
 1,303,400  1,724,854  421,454  
 
52. Various other income for 2005 comprises the following: 
  CHF  
 Refund of prior year's expenditure 400,938 Work done for delega tions and others 120,228 
Discount on suppliers' invoices  23 
Miscellaneous (identity photos, sale of us ed furniture, online services, etc.)  12,562 
Less:  Funding contributions in arrears (297,141)
 
 Total  236,610
 
 
53. The amount of CHF 297,141 was used to clear ar rears of Tanzania for 1987 and earlier years 
in accordance with the Council's approval (C/M /273) of the recommendation of the Committee on 
Budget, Finance and Administration (L/7483) with re gard to a scheme to facilitate the payment of 
such arrears. 
V. SURPLUS ACCOUNT 
54. The Surplus Account (Statement 3) shows a deficit amounting to CHF 309,983 as at 
31 December 2005, due to the opening deficit balance of CHF 3,036,427 on 1 January 2005. 
This was further reduced by: 
  (a) irrecoverable publications i nvoices which amounted to CHF 2,584. 
 
                                                     
 
11 Includes royalties of CHF 68,339 for the sale of publications.   WT/BFA/W/142 
Page 14  
 
  This was offset by: 
 
(b) the decrease in the provision for contributions in arrears of CHF 273,289
12 ; 
(c) a contribution amounting to CHF 68,9 61 assessed on a new Member subsequent to 
the adoption of the 2005 scale of contributions;  
(d) an excess in actual versus estimated miscellaneous income of CHF 421,454 (WTO 
Secretariat) and nil for the Appellate Body Secretariat;  
(e) the 2005 overall budgetary surplus of CHF 1,965,324 for the WTO Secretariat and 
the Appellate Body Secretariat. 
 
55. Taking into account the opening deficit balance of CHF 3,036,427 in the Surplus Account on 
1 January 2005, the net effect of the movements e xplained in paragraph 54 above resulted in an 
accumulated deficit of CHF 309,983 at the end of 20 05.  This amount was covered from the Working 
Capital Fund in accordance with WTO Financial Regulation 26.4. 
VI. GENERAL FUND 
Assets  
 
56. At 31 December 2005, cash in hand represented CHF 10,000; cash at bank and in the postal 
checking account amounted to CHF 27,488,534.  Investments held on 31 December 2005 were 
CHF 8,000,000 worth held in Swiss francs (Sche dule D), CHF 1,541,000 worth held in Euros 
(Schedule E) and CHF 2,255,000 worth held in Pounds sterling (Schedule F).   
57. Funds remaining with UNDP were in the am ount of CHF 96,301 (equivalent USD 73,513). 
58. Contributions receivable from Members am ounted to CHF 31,032,182 at 31 December 2005 
as shown in Schedule B.  The corresponding amount for 31 December 2004 was CHF 31,305,471. 
59. At the recommendation from the External Auditors13 contributions receivable from WTO 
Observers were recorded from 2000 as a receivable asset and amounted to CHF 843,387 as at 
31 December 2005 as shown in Schedule C.  Th e corresponding amount for 31 December 2004 was 
CHF 829,773. 
60. A receivable of CHF 344,618 is due for th e Cancun Ministerial Meeting since 2003. 
61. Miscellaneous accounts receivable at 31 Dece mber 2005 totalled CHF 4,558,066.  This 
amount includes staff advances of CHF 1,869,394 for salary, travel and education grants, of which 
CHF 25,000 concerns the Appellate Body and its Secret ariat.  In respect of United States taxes, an 
amount of CHF 722,293 is due from their authorities.   CHF 43,056 was recorded as recoverable Swiss 
taxes, an amount which includes VAT refunds an d withholding taxes on interest.  Advances to 
suppliers amounted to CHF 128,045 a nd various receivables totaled CH F 97,395.  Accrued interest on 
investments amounted to CHF 8,265.  Total 2005 invoices receivable and various invoices in 2006 amounted to CHF 1,591,541 and CHF 98,077, respectively. 
                                                     
 
 12 Contributions receivable from WTO members amounted to CHF 31,0 32,182 at 31 December 2005 as 
compared with CHF 31,305,471 at the end of 2004, i.e. a decrease of CHF 273,289 in contributions outstanding.  
13 Document WT/BFA/W/42 paragraph 77.  WT/BFA/W/142 
 Page 15 
 
 
  62. Outstanding invoices of CHF 1,591,541 consisted of the following: 
  CHF  
 Sale of publications 19,341 Retirees' sickness insurance 3,275 
Cost for interpretation services 1,918 
Electricity and water charges 2,081 Travel costs funded by outside entities 4,328 Hong Kong Ministerial Conference 1,560,598
 
 
Total  1,591,541  
 
63. WTO will invoice receivables of CHF 98,077 in 2006, of which CHF 95,225 relates to the 
Hong Kong Ministerial Conference and va rious outstanding items for CHF 2,852. 
64. In summary, a total amount of CHF 1,655,823 was disbursed for the Hong Kong Ministerial 
Conference.  The breakdown of WTO invoices issued to the Hong Kong Authorities for 
CHF 1,560,598 and other items to be invoiced in 2006 for CHF 95,225 is shown below: 
 CHF  
Task Force   101,254 
WTO Staff  1,285,334 LDC Delegates  195,443 
LDC Journalists  22,417 
Miscellaneous-Shipment  51,375
 
 Total   1,655,823
 
 
 
65. Total Inventory of CHF 1,192,977 represents  the value of stock of WTO publications, 
co-publications, non-WTO publications, and souvenirs. 
66. Prepaid 2005 expenditure is CHF 37,961 (posta ge, subscriptions, prepaid parking, etc). 
 Liabilities  
 
67. Miscellaneous accounts payable at 31 December 2005 amounted to CHF 4,152,892 and 
included the following:  (i) amounts payable to suppliers:  CHF 3,078,060,  (ii) amounts payable to WTO staff (e.g. travel claims), to consultants a nd interns for unliquidated payments on contracts:  
CHF 727,457 and (iii) other payables of CHF 347,375. 
68. CHF 238,546 (Schedule A) in respect of interest earned in 2005 will be applied against 
assessed contributions for the year 2007 in accord ance with the provisions of the Early Payment 
Encouragement Scheme (see paragraph 79).  The 2004 interest of CHF 94,840 has been apportioned 
and deducted from the 2006 assessments  on relevant Members.   
69. Advance contributions received from Member s pertaining to 2006 and 2007 amounted to 
CHF 20,390,644 and CHF 254,031, respectively.  A dvance payments from WTO Observers amounted 
to CHF 24,212. WT/BFA/W/142 
Page 16  
 
  70. Total outstanding obligations at 31 December 2005 amounted to CHF 1,948,748 with respect 
to the WTO Secretariat and CHF 3,242 for the Appellate Body and its Secretariat. 
71. CHF 31,032,182 covered all contri butions in arrears from Members as at 31 December 2005  
(Statement 4 and Schedule B). 
72. In accordance with the decision of the Ge neral Council (WT/GC/M/72) a provision of 
CHF 1,000,000 has been created to be used as  buffer account in connection with the ‘Doha 
Development Agenda Global Trust Fund'. 
73. The provision for the Security Enhancement Operating Fund (SEOF) shows an over-
expenditure of CHF 38,538 which will be carried forward and funded in 2006. 
74. The balance of the Appellate Body Opera ting Fund (ABOF) amounted to CHF 390,568 on 
31 December 2005. 
75. The balance sheet of all other extra-budgetary funds stood at CHF 18,218,642 on the same 
date (see document WT/BFA/W/143). 
76. As mentioned in paragraph 54, the 200 5 deficit amounted to CHF 309,983. 
VII. WORKING CAPITAL FUND 
77. The Working Capital Fund amounted to CHF 9,260,001 as at 31 December 2005 
(Statement 5).  The principal of the Fund consis ts of the 2005 beginning balance of CHF 5,397,530 
plus interest on investments credited to the Fund during 2005 amounting to CHF 59,313
14.  Advances 
made by Members total CHF 3,803,158 as at 31  December 2005.  This includes a subsequent 
assessment of advance to the Working Capital Fund of CHF 65,795 to the Kingdom of Saudi Arabia, 
as a new WTO Member. 
78.  Current account balance amounted to CHF 56,698 as at 31 December 2005.  An amount of 
CHF 284,015 has been recorded  as receivable from Members as well as CHF 19,288 representing 
withholding tax on interest earned as at 31 D ecember 2005.  In accordance with WTO Financial 
Regulation 26.4, the accumulated deficit for 2005 of CHF 309,983 was covered by the Working 
Capital Fund (see paragraph 55). 
VIII.  EARLY PAYMENT ENCOURAGEMENT SCHEME 
79. Pursuant to the Council's approval (C/M/226) of the recommendation of the Committee on 
Budget, Finance and Administration (L/6384) to introduce a system to encourage payment of contributions, interest earned on the current year's contributions is refunded to Members on the basis of calculations which take account of the amount and date of payment.  Schedule A shows the 
apportionment of CHF 238,546 earned as interest in 2005 (Schedule A/Statement 4).  The apportioned 
amounts will be deducted from the releva nt Members' contributions for 2007. 
IX. OPERATING FUNDS 
Appellate Body Operating Fund (ABOF)
 
 
80. Permanent costs expenditure of the Appellate B ody and its Secretariat has been reported on in 
the previous section.  This section considers the va riable cost expenditure of the Appellate Body 
                                                      
14 Inclusive of the CHF 45 interest on the current account of the Working Capital Fund.  WT/BFA/W/142 
 Page 17 
 
 
  consisting of the number of cases brought before  the Body and their duration.  The second 
replenishment of the fund in 2005 was made thr ough the inclusion of a separate appropriation under 
the regular budget, i.e. CHF 1,141,400 (D ocument WT/BFA/75, Schedule 1–C, Section 11  - Various). 
81. Interest earned amounting to CHF 24,618 was cr edited to the fund for the financial period 
2005.  
82. After recording 2005 expenditure of CHF 1,414 ,456, the balance of the fund amounting to 
CHF 390,568 is carried forward to 2006. 
Statement of Appellate Body Operating Fund Expenditure  
as at 31 December 2005  
     CHF
 CHF  
 Opening balance as at 1 January 2005     639,006
 
 Transfer from the regular budget   
1,141,400  
 
Expenditure as at 31 December 2005    Interpreters   28,755 Transcribers   64,782 Temporary Assistance 11,629 
Travel of Members  600,528 
Member's fees   674,920 Miscellaneous   17,418 Postage    16,424
 
 
Less:  Total expenditure  (1,414,456) 
 Interest earned during the course of the year  24,618
 
 Closing balance as at 31 December 2005  390,568
 
 
 
Ministerial Operating Fund (MOF)  
 
83. In 1999 (WT/BFA/44), the Committee on Budget Finance and Administration decided to 
reduce the burden of the costs associated with a Ministerial Conference by spreading the costs over 
two years with a budgetary appropriation in each  year of the regular budget of the WTO of 
CHF 400,000.  In 2004, the provision for the Ministerial Conference Operating F und was increased by 
CHF 200,000 to CHF 600,000 (Document WT /BFA/70, Schedule 1 – B, Section 11  – Various). 
84. After recording 2004 preparatory expenditure of CHF 167,769, the balance of this 
appropriation, amounting to CHF 432,231, was carried forward to 2005. 
85. The accumulated reserve under this operating fund amounting to CHF 1,032,231 was utilised 
to meeting the 2005 sixth Ministerial Conference  expenditure of CHF 1,204,179.  The excess 
expenditure, under established practice, has b een charged to the regular budget there was 
consequently no balance to be carried forward to 2006.   WT/BFA/W/142 
Page 18  
 
  Security Enhancement Operating Fund (SEOF)
 
 
86. As mentioned under Section 11  - Various, Members approved an initial  appropriation of 
CHF 1,119,000 to fund the first instalment of a fi ve year plan to enhance the security at WTO 
premises. Expenditure in 2005 under the SEOF amount ed to CHF 1,157,538.  This expenditure 
exceeds the allotment by CHF 38,538 as infrastructur e costs exceed budget.  This over-spending is 
carried forward to 2006 and offset against the second instalment of CHF 796,000 in 2006.    
Statement of expenditure 2005 SEOF
 
 
  CHF  
2005 Initial Replenishment     
1,119,000 
   
Section Items Expenditure 
Sect. 2 Temporary Assistance Consultants 80,098 
Sect. 4 Building Facilities Maintenance & Insurance / Renovation & Alterations 747,440 
Sect. 5 Permanent Equipment Perm Equipment / Lease / Security 330,000 
  Grand Total 1,157,538 
   
 Balance carried forwar d to 2006 (38,538) 
 
 
X. NEW ANNEXE BUILDING FOR THE WTO15 
87. Pursuant to the agreement between the WT O and the Swiss authorities on the funding 
arrangements as set out in document WT/BFA/ SPEC/67, the Swiss Confederation through the 
‘Fondation pour les immeubles des organisations summa rized as (FIPOI)' has arranged for an interest-
free loan facility of CHF 5 million to be made availa ble to the WTO.  This loan facility, considered as 
part of the original loan of CHF 50 million, whose reimbursement will commence one year after 
completion of construction and will cover a period of fifty years, is foreseen in connection with the 
pre-construction/studies phase of the total c onstruction costs of the new building.   
88. In September 2005, a call for tenders started in order to choose a general contractor and the 
companies selected submitted their bids to the WTO in December 2005.  The Construction 
Committee, composed of FIPOI, Group8 and the WTO,  will be in a position to provide a proposal for 
the contract awarded in early 2006. 
89. An additional loan of 10 m illion is under process with the Swiss Confederation.  This 
additional cost includes the following: 
(a) CHF 6.5 million for new requirements not included in the 2001 competition 
specifications (CHF 5.1 million for security and CHF 1.4 million for archives); 
                                                      
15 WT/BFA/SPEC/104.  WT/BFA/W/142 
 Page 19 
 
 
  (b) CHF 950,000 of additional fees for specialized  technicians (archite cts and engineers) 
required to conduct the additional studies;  and 
(c) CHF 2.55 million relating to price inflation. 
90. Expenditure on the preliminary studies, considered as construc tion-in-progress, was incurred 
in the later half of 2004.  The funds for this proj ect are segregated from all other activities of the WTO 
and reported on separately.  Statement 6 summarizes  the various movements under this fund.  The 
pre-construction costs reflected in the statemen t relate primarily to the initial architectural 
competition, professional fees for architects and specia lists, various engineering fees (civil, electrical, 
sanitary, etc.) and miscellaneous expenses amounting to  CHF 4,267,804 in total.  They include the 
payments made by FIPOI on behalf of the WTO. WT/BFA/W/142 
Page 20  
 
  XI. REPORT OF THE EXTERNAL AUDITOR ON THE ACCOUNTS OF THE WORLD 
TRADE ORGANIZATION FOR THE FINANCIAL PERIODS 2004 AND 2005 OF 
THE BIENNIUM 2004/2005 
GENERAL
 
91. The revised Financial Rules and Regulations of the World Trade Organization (WTO) came 
into effect on 1 January 2004 and have been applie d to the financial administration of the Secretariat 
to the WTO since that date.  The examination has been carried out in  accordance with those 
regulations and rules, and with the financ ial resolutions and decisions of the WTO. 
92. The General Council approve d (Document WT/GC/M/100) the 2004 transfers between 
budgetary sections proposed in doc ument WT/BFA/W/128, paragraphs 37 and 41, in accordance with 
WTO Financial Regulation 24 a nd WTO Financial Rule 4.4. 
93. The audit of the 2005 accounts has been carri ed out on the assumption that the transfers 
between budgetary sections proposed in documen t WT/BFA/W/142, paragraphs 44 and 48, in 
accordance with WTO Financial Regulation 24 and WT O Financial Rule 4.4, will be approved by the 
WTO General Council. 
EXPLANATORY NOTES TO THE ACCOUNTS  
 
Outturn  
 94. 2004 - Appropriations authorized by the Members of the WTO for 2004 were 
CHF 157,060,700 for the WTO Secretariat (Document WT/BFA/W/128 - Statement 1a), and 
CHF 4,715,800 in respect of the Appellate Body  and its Secretariat (Document WT/BFA/W/128 - 
Statement 1b).  The overall budget of CHF 161,776, 500 (WTO Secretariat and the Appellate Body 
and its Secretariat) was to be financed by contributions of CHF 160,560,000 and estimated 
miscellaneous income of CHF 1,216,500 (WT/BFA/70). 
95. 2005 - Appropriations authorized by the Members of the WTO for 2005 were 
CHF 164,131,000 for the WTO Secretariat (Statement 1a), and CHF 4,572,400 in respect of the 
Appellate Body and its Secretariat (Statement  1b).  The overall budget of CHF 168,703,400 (WTO 
Secretariat and the Appellate Body and its Secretar iat) was to be financed by contributions of 
CHF 167,400,000 and estimated miscellaneous income of CHF 1,303,400 (WT/BFA/75). 
96. Expenditure under the WTO Secretariat in 2004 amounted to CHF 154,435,961, leaving a 
budgetary surplus of CHF 2,624,739.  With respect to the Appellate Body and its Secretariat, 
2004 expenditure amounted to CHF 4,388,925, resulting in a budgetary surplus of CHF 326,875.  The 
total excess of income over expenditure amounted  to CHF 2,951,614 (Doc ument WT/BFA/W/128 -
 Statement 2). 
97. Expenditure under the WTO Secretariat in 2005 amounted to CHF 162,340,439, leaving a 
budgetary surplus of CHF 1,790,561.  With respect to the Appellate Body and its Secretariat, 
2005 expenditure amounted to CHF 4,397,637, resulting in a budgetary surplus of CHF 174,763.  The 
total excess of income over expenditure am ounted to CHF 1,965,324 (Statement 2). 
Outstanding Contributions
 
 98. Outstanding contributions as at 31 December 2003 for WTO Members amounted to 
CHF 31,453,248 (WT/BFA/W/114 - Schedule B).  This was reduced by CHF 147,777 in 2004 and  WT/BFA/W/142 
 Page 21 
 
 
  CHF 273,289 in 2005.  The total outstanding contributions as at 31 December 2005 amounted to 
CHF 31,032,182 (Schedule B).  This is made up of  CHF 15,561,698 with respect to 2005 and the 
balance relates to outstanding dues for previous years. 
Outstanding obligations as at 31 December 2004 and 31 December 2005  
 
99. The total provision for outstanding obligations at the end of 2004 amounted to 
CHF 1,431,630.  This is comprised of an amount of CHF 1,430,655 with respect to the regular budget 
of the WTO Secretariat and CHF 975 with respect to the Appellate Body and its Secretariat. 
100. With respect to the year 2005, the total provision for outstanding obligations amounted to 
CHF 1,524,276, which comprised CHF 1,521,034 for the regular budget of the WTO Secretariat and 
CHF 3,242 for the Appellate Body and its Secretariat. 
  Year 2004 Year 2005 
Part Section WTO Appellate 
Body WTO Appellate 
Body 
A  Sect  1 Work Years  62,300 80,005 2,696 
  Sect  2 Temporary Assistance  548,331 610,282   
B  Sect 3  Communications 859 0   
  Sect  4 Building Facilities  161,354 73,739   
  Sect  5 Permanent Equipment  257,982 306,223   
  Sect  6 Expendable  79,000 18,124   
  Sect  7 Contractual Services.  169,144 202,340   
C  Sect  8 Staff Overheads  116,254 975 117,534 546 
   Sect 11 Various  35,431  112,787   
Sub-Total  1,430,655 975 1,521,034 3,242 
Annual Total  1,431,630  1,524,276 
 
 
101. At the end of the biennium the General Fund contained an amount of CHF 18,218,642 that 
remained available under extra-budgetary f unds.  In addition, the closing position on 
31 December 2005 of the Appellate Body Operating Fund amounted to CHF 390,568. 
102. Expenditure in 2005 under the Security Enha ncement Operating Fund (SEOF) amounted to 
CHF 1,157,538.  This expenditure exceeded the al lotment for 2005 by CHF 38,538.  This will be 
funded from the second installment due in 2006. 
US Tax  
 103. Contrary to Article VIII of the Agreement es tablishing the WTO, the United States does not 
recognize income derived from international instituti ons as tax exempt.  Article VIII refers to the 
privileges and immunities stipulated in the 1947 " UN Convention on the Privileges and Immunities of 
the Specialized Agencies" including the exemption from taxation on the salaries and emoluments paid 
to officials by the UN.   
104. Staff members of US nationality or holding US permanent residence working for international 
institutions (including the UN Common System as well as WTO) have to declare and pay taxes on their income.  However, the US provides relie f for taxes due on institutional income via tax 
reimbursement schemes for effected staff in a number  of international institutions.  On the contrary, WT/BFA/W/142 
Page 22  
 
  the income of non-US staff members is exempt and does not have to be reported to their tax 
authorities. 
105. Tax reimbursement agreements (TRA) have been signed (the current agreement was signed in 
December 2000 and is applicable as of 1 January  1999) between the US and WTO to cover the 
reimbursement of taxes due by US staff members on their WTO related income.  The current 
agreement is based on the "first-income method" me aning that non-WTO income does not receive full 
benefit from exemptions and is taxed at the highest marginal rate.   
106. However, the "last-income method" would put US  staff members in a situation similar to non-
US staff members, since non-US staff member's income is exempt and non-WTO income can fully 
benefit from exemptions and standard/itemized deductions. 
107. According to an ILO Administrative Tri bunal (ILOAT) jurisprudence, international 
organizations are obliged to actively protect thei r employees from national taxation of their earnings 
as international civil servants to avoid that some staff members are deprived of their tax–exempt 
status when others are not.  Therefore, the ILOAT found that applying the "first-income method" is in breach of this obligation.  With effect from the 2004 fiscal year WTO applies the "last-income 
method".  This resulted in additional costs for WTO of USD 55,220 (approx.  CHF 72,000) included 
in the position Staff Overheads. 
108. The External Auditor noted that the additional costs arising from the application of the last-
income method are carried by all Member States, al though those costs are due to a special regulation 
only applicable to US staff-members and permanent residence.  The External Auditor was informed 
that the Secretariat wrote to the US authorities in early 2006 with regard to the situation arising from 
the ILOAT decision, no reply has been received as at July 2006. 
109. In addition the administration of tax reimburse ment is a burden that is costly for WTO as 
specific tax files have to be prepared and maintained  for each US staff member.  Furthermore, the cost 
of the advance payments are also carried by WTO and the External Auditor has been informed that 
the reimbursement from the US authorities has, in the past, taken up to five years.  Also, as the mutual 
payments are done is USD certain fo reign exchange risks can occur and have to be carried by WTO.  
The External Auditor noted that  the exchange rate fluctuation (USD:CHF) in 2005 was between 
1:1,13 to 1:1,31.  
110. As of 31 December 2005 the US Tax amount receivable was CHF 722,293 and was included 
in the position "Miscellaneous accounts receivable - WTO Secretariat" amounting to CHF 4,533,066.  
The External Auditor noted that the amount rece ivable from the US tax authorities increased by 
104 per cent in the biennium 2004-2005 (from CHF 354, 326 at the end of 2003 to CHF 390,188 at the 
end of 2004 to CHF 722,293 at the end of 2005).  
111. Therefore, the External Auditor recommends that: 
• the Secretariat may verify the reason for the increase of receivables relating to US Tax 
as well as their recoverability;  
• the Secretariat continues its efforts to re negotiate the Tax Reim bursement Agreement 
with a view to obtaining reimbursement of  taxes calculated according to the last 
income method in line with the ILOAT decision; 
• the Secretariat may wish to evaluate the n eed to hedge against currency fluctuations 
related to this question.  WT/BFA/W/142 
 Page 23 
 
 
  Cancun Ministerial Conference  
 112. The Ministerial Conference in 2003 was held in Cancun, Mexico.  The total receivable from 
the government of the host-country to cover the additional costs arising from the fact that the venue was not held at the Geneva site amounted to CH F 1,385,596.  WTO received CHF 1,040,978 from the 
government of the host-country.  The outstanding amount receivable of CHF 344,618 was disclosed 
in the annual accounts in 2004 and 2005.  Although sever al reminders have been sent to various host-
country representatives, no reply has been received as at July 2006.  The External Auditor noted that 
no formal acknowledgement regarding the out standing amount has been obtained from the 
government of the host-country. 
113. The External Auditor recommends that a formal  acknowledgement of the outstanding amount 
should be obtained from the government of the host-country.   
After Service Health Benefit
 
 114. Like all international institutions the WTO participates in the premiums for medical and 
dental insurance of its retirees.  The liabilities pert aining to these benefits have not been recognized on 
financial statements.  Those benefits are paid a nd expressed as an ongoing charge to regular budget. 
115. The external auditors of the United Nations and those of the agencies ha ve stressed the need 
for the organizations to fund their obligation to provide after-service health benefits.  Most 
organizations have initiated the va luation and in some cases have recognized the liability and have 
begun to accrue funds for current service costs.   
116. The External Auditor recommends that in order to gain a better understanding of the financial 
dimensions of the liabilities of after-service health  benefits, the WTO should engage an actuary to 
carry out an actuarial valuation of post-retirement h ealth insurance benefit in order to determine the 
accrued liability.  
WTO Pension Plan
 
 
117. According to Article 5(f) of the Regulati ons of the WTO Pension Plan (WTOPP) "All 
expenses incurred in administering the plan … shall be borne by the Plan." The Balance Sheet of the 
WTOPP includes since 2004 a reserve of CHF 250,000 relating to operating costs potentially invoiced 
by WTO.  However, the External Auditor noted th at since the establishment of the WTOPP no costs 
have been charged to WTOPP from WTO with respect to personnel resources and office space 
provided by WTO.  The External Auditor recomme nds to comply with above mentioned regulation 
and to determine the cost elements which are to be charged to WTOPP. 
118. At present the Director of Administration and General Services Division acts also as 
Secretary of the WTOPP.  As Director of Administration and General Division, he reports to the Deputy Director-General.  However, as Secretary of  the WTOPP he has to act under the authority of 
the Management Board of WTOPP (Document WTO PP(05)3/Rev.1).  The External Auditor would 
like to suggest to take into consideration a segrega tion of duty between those two functions to avoid a 
potential conflict of interest. 
Inventory
 
 119. The External Auditor refers to the recomme ndation in the report on the 2002 accounts with 
respect to the implementation of a Facility Management System comprising permanent office 
equipment as well as IT equipment.  The External  Auditor would like to highlight that - although a WT/BFA/W/142 
Page 24  
 
  certain progress was achieved – the IT equipment is still not recorded in the Facility Management 
System.  The External Auditor pointed out that an accurate Facility Management System enables: 
• an overview on leased and owned equipment;  
• an overview on upcoming replacements; 
• a mid and long-term view on required financial resources; 
• a proper calculation of the insurance policy fee. 
120. The External Auditor recommends to include  IT equipment in the existing Facility 
Management System. 
121. At present the inventory (furniture, equipment, IT equipment and vehicles) is disclosed in a 
note on the Statement of Assets and Liabilities.  Th e External Auditor recommends to consider to 
apply IPSAS16 13 (Leases) and IPSA S 17 (Property, Plant and Equi pment), which would require 
amendments to the Financial Rules (Article XI Pr operty WT/L/157) and Regula tions (Chapter IX The 
Accounts – WT/L/156/Rev.1).  
REPORT OF THE EXTERNAL AUDITORS ON THE ACCOUNTS OF THE WORLD TRADE 
ORGANIZATION FOR THE FINANCIAL PERIOD 2004  OF THE BIENNIUM 2004/2005    
(Summary and up-date of information provi ded in 2004 in document WT/BFA/W/128)  
 
122. Based on the WTO Financial Regulations (WT/L/156/Rev.1 – Regul ation 49) and on 
implementation rules contained in document WT/BFA /W/121 the External Auditors carried out an 
interim audit of the first financial period 2004 of th e biennium 2004/2005.  Their report is part of the 
Director-General’s Budgetary and Financial Re port for 2004 (Document WT/BFA/W/128).  Items 
which were followed up in the course of the a udit of the second financial period 2005 include: 
New Annex Building  
 
123. As at 31 December 2005, the total expenditure  in respect of the pre-construction phase 
amounted to CHF 4,267,804.  This amount also in cludes settlements made by FIPOI relating to the 
early pre-construction phase.  Due to additional security and archiving requirements as well as 
inflation, the Council agreed to request the Swiss Authorities to increase the proposed initial loan of 
CHF 50 million to CHF 60 million (Document WT/BFA/78). 
124. In their 2004 report the External Aud itors raised items with respect to: 
• cost of the draft project study; 
• accounting procedures and relate d international standards; 
• risk analysis; 
• tax related items; 
• contractual agreements with third parti es and internal roles and responsibilities. 
 125. The External Auditors noted th at corrective actions with resp ect to these issues have been 
taken in 2005.   
126. During the course of the audit the External Audito rs have been informed that the new annexe 
building might not be seen as a long-term solution and therefore the approval process by the Swiss 
                                                     
 
16 IPSAS (International Publication S ector Accounting Standards) set out the requirements for financial 
reporting by governments and others in public sector or ganizations and have been adopted or are in the process 
of adopting these standards by the main WTO Member States.  WT/BFA/W/142 
 Page 25 
 
 
  Authorities for the loan has been suspended for the time being.  In case the project does not go ahead, 
the External Auditors pointed out that clarificati on should be obtained with respect to the loan of 
CHF 5 million already received from FIPOI.  This amount of CHF 5 million has been used to cover 
the cost of the preliminary studies and works. 
Accounts management  
 
127. In previous reports the External Auditors hi ghlighted the lack of written procedures for the 
opening and maintenance of accounts.  During the c ourse of the audit of the 2005 financial period the 
External Auditors were informed that initiatives to  address the issue have been taken but are not yet 
completed. 
Internal Oversight  
 128. The need for an internal oversight function within WTO was highlighted by the External 
Auditors in various reports.  The External A uditors noted that the Director-General's Budget 
Proposals for the biennium 2006-2007 proposed for 2007 two new posts (inter nal auditor and support 
position) which have been appr oved by the General Council.  
PERFORMANCE REPORT OF THE EXTERNAL AUDITOR ON THE ACCOUNTS OF THE 
WORLD TRADE ORGANIZATION FOR THE BIENNIUM 2004/2005  
 
129. Based on the WTO Financial Regulations (WT/L/ 156/Rev.1) the External Auditor carried out 
a performance audit for the biennium 2004/2005 in September 2005. 
The following issues have been ra ised by the External Auditor: 
• WTO Publications Unit. 
• Procurement rules. 
• Outstanding contributions. 
• Outstanding receivable ministerial conference 2003. 
• Central archive and IT-database. 
• Write–offs. 
 WTO Publications Unit
 
 
130. The review of the External Auditor iden tified weaknesses regarding the organizational 
structure, the accounting process, the accuracy of  inventories as well as the publication policy.  
Corrective actions have been initiated by engaging external consultants to assist WTO in establishing 
a reliable inventory value for the 2005 year end financ ial statements.  In addition the consultants were 
tasked to define adequate accoun ting processes regarding the publica tion unit.  The External Auditor 
appreciates the initiatives taken so far and a fo llow-up will be done after the completion of all 
necessary actions. 
Procurement rules  
 131. The review of the procurement rules revealed an inconsistency between the "Administrative 
Manual for Budgetary and Financia l Control Matters" and the Financial Rules of the World Trade 
Organization regarding the amount for which a comp etitive bidding is required.  During the course of 
the audit of the 2005 accounts the External Auditor w as informed that the required amendment of the 
above-mentioned documentation will be dealt with during 2006.  WT/BFA/W/142 
Page 26  
 
  Outstanding contributions
 
 132. The External Auditor referred to their Re port on the Accounts of the World Trade 
Organization for the Year ended 31 December  2003 (WT/BFA/W/114) on the outstanding 1991 and 
1992 contributions of the former Yugoslavia to be ex amined with a view to collection or write-off of 
these amounts.  The External Auditor noted that no  further progress regarding this issue could be 
achieved.  Nevertheless, the External Auditor is aware of the political relevance of this issue. 
Central archive and IT-database
 
 133. The External Auditor identified the need for a central archivi ng system and an IT-database for 
the storage and recording of WTO contracts.  The External Auditor was informed that initiatives will 
be taken in 2006, including the possible establishment of a post of Archivist.  
 
 
(signed) 
_________________________________________ 
 
Josef Moser 
President of the Austrian Court of Audit  WT/BFA/W/142 
 Page 27 
 
 
  OPINION OF THE EXTERNAL AUDITOR ON THE ACCOUNTS 
OF THE WORLD TRADE ORGANIZATION FOR THE 
BIENNIUM ENDED 31 DECEMBER 2005 
 
 
134. The representatives of the Austrian Court of Aud it have examined the Financial Statements in 
document WT/BFA/W/128 relating to the financial period 2004 and the Financial Statements in 
document WT/BFA/W/142 relating to the financial pe riod 2005, both including Statements 1 to 6, 
Schedules A, B, C, D, E, F, G, H and an Annex.   Furthermore, the representatives of the Austrian 
Court of Audit have examined the Financial St atements on Extra-Budgetary Funds in document 
WT/BFA/W/143 relating to the financial period 2005 on a sample basis.  Their examination included 
a general review of the accounting procedures and such tests of the accounting records and other 
supporting evidence, as they considered necessary in the circumstances.  As a result of the 
examination, the opinion is given that these statements, which were prepared in conformity with the accounting policies described in the Annex of the documents WT/BFA/W/128 and WT/BFA/W/142 
were applied on a basis consistent within the bi ennium 2004/2005. They present fairly the financial 
position of the World Trade Organization as at the e nd of each of the two financial periods covering 
the biennium 2004/2005.  The financial statements  were prepared in accordance with the stated 
accounting principles.  The transactions were in acco rdance with the Financial Rules and the Financial 
Regulations set out in WT/L/157 and WT/L/156/ Rev.1 including further instructions in 
WT/BFA/W/121 and with legislative authority. 
 
 
 
(signed) 
_________________________________________ 
Josef Moser 
President of the Austrian Court of Audit 
 WT/BFA/W/142 
Page 28  
 
  2004 – 2005 BIENNIUM OVERVIEW 
 
 
135. This section of this document summarizes th e expenditure for each of the years of the 
biennium 2004 and 2005 as well as, the overall surplus accounts for each of the years.  In addition, a 
separate section of the main points for e ach of the budgets has been summarized. 
BUDGET EXPENDITURE 2004-2005 
 
136. Expenditure for the WTO and the Appellate Body Secretariat for 2004 amounted to 
CHF 158,824,886 equating to a budgetary saving of CHF 2,951,614.  This budgetary saving is 
comprised of CHF 2,624,739 for WTO Regular Budget and a budgetary surplus of CHF 326,875 for 
Appellate Body and its Secretariat.   
137. Expenditure for the WTO and the Appellate Body Secretariat for 2005 amounted to 
CHF 166,738,076 equating to a budgetary saving of CHF 1,965,324.  This budgetary saving is comprised of CHF 1,790,561 for WTO Regular Budget and a budgetary surplus of CHF 174,763 for 
Appellate Body and its Secretariat.   
SURPLUS ACCOUNT 2004-2005 
 
138. The Surplus Account for 2004 (Statement 3,  document WT/BFA/W/128) shows a deficit 
amounting to CHF 3,036,427 as at 31 December 2004, due to the opening deficit balance of CHF 6,587,883 on 1 January 2004.  This amount was covered from the Working Capital Fund in 
accordance with WTO Financial Regulation 26.4. 
139. The Surplus Account for 2005 (Statement 3,  document WT/BFA/W/142)) shows a deficit 
amounting to CHF 309,983 as at 31 December 2005 , due to the opening deficit balance of 
CHF 3,036,427 on 1 January 2005.  This amount was covered from the Working Capital Fund in 
accordance with WTO Financial Regulation 26.4. 
 
 
  
   WT/BFA/W/142
 Page 29Statement 1a  
WORLD TRADE ORGANIZATION  
WTO Secretariat  
 
Statement of Budgetary Expenditure 2005  
(in Swiss francs) 
 
Part Section Original 
Appropriation 
(WT/GC/M/84) Proposed 
Transfers Final 
Appropriations Expenditure Balance 
A – Staffing Sect  1 Work Years 104,718,700 (3,162,665) 101,556,035 101,556,035 0 
  Sect  2 Temporary Assistance 14,186,750 5,172,530  19,359,280 19,359,280 0
B – Administrative Costs Sect  3 Communications 2,063,000   2,063,000 1,883,708 179,292 
  Sect  4 Building Facilities 3,147,900 97,719  3,245,619 3,245,619 0
  Sect  5 Permanent Equipment 2,668,100 (54,424) 2,613,676 2,041,492 572,184 
  Sect  6 Expendable Supplies 1,359,000  1,359,000 1,014,248 344,752 
  Sect  7 Contractual Services 6,064,300 (943,291) 5,121,009 5,121,009 0 
C – Other Costs Sect  8 Staff Overheads 2,687,800 205,477  2,893,277 2,893,277 0
  Sect  9 Missions 2,564,300 (205,477) 2,358,823 2,300,699 58,124 
  Sect 10 Trade Policy Training Courses 3,671,000 (113,979) 3,557,021 3,020,812 536,209 
  Sect 11 Various 4,619,900 113,979  4,733,879 4,733,879 0 
  Sect 12 Unforeseen 100,000  100,000 0 100,000 
D – ITC Sect 13 Contribution to the ITC 16, 280,250 (1,109,869) 15,170,381 15,170,381 0 
Grand Total   164,131,000 0  164,131,000 162,340,439 1,790,561 
 
   
 
 
  (signed) (signed) 
  _____________________________________ _____________________________________ 
  Pascal Lamy Robert Luther 
  Director-General Director 
   Administration and General Services Division  
  WT/BFA/W/142 
Page 30  
Statement 1b
WORLD TRADE ORGANIZATION  
Appellate Body and its Secretariat  
 
Statement of Budgetary Expenditure 2005  
(in Swiss francs)  
 
 
Part Section Original 
Appropriation 
(WT/GC/M/84) Proposed 
Transfers Final 
Appropriations Expenditure Balance 
A – Staffing Sect  1 Work Years 2,569,400 (79,181) 2,490,219 2,330,627 159,592 
  Sect  2 Temporary Assistance 36,000 57,502  93,502 93,502 0
B – Administrative Costs Sect  3 Communications 6,500   6,500 5,766 734 
  Sect  4 Building Facilities 18,000  18,000 13,000 5,000 
  Sect  5 Permanent Equipment 23,000 3,688  26,688 26,688 0 
  Sect  6 Expendable Supplies 20,000  20,000 10,564 9,436 
  Sect  7 Contractual Services 15,000 2,763  17,763 17,763 0 
C – Other Costs Sect  8 Staff Overheads 36,000 9,159  45,159 45,159 0 
  Sect  9 Missions 10,000 4,091  14,091 14,091 0 
  Sect 11 Various 1,838,500 1,978  1,840,478 1,840,478 0 
 Grand Total 4,572,400 0  4,572,400 4,397,637 174,763 
 
 
  
 
   (signed)
 (signed) 
  _____________________________________ _____________________________________ 
  Pascal Lamy Robert Luther 
  Director-General Director 
   Administration and General Services Division  
   WT/BFA/W/142
 Page 31 
              Statement 2  
 WORLD TRADE ORGANIZATION   
               
 Income and Expenditure Account fo r the year ended 31 December 2005   
 (in Swiss francs)   
              
               
EXPENDITURE INCOME 
                  
2005 Expenditure     Contributions assessed on Members   167,400,000 
  WTO Secretariat (Statement 1a) 162,340,439             
  Appellate Body and Its Secretariat (Statement 1b) 4,397,637 166,738,076 Contribution assessed on a new Member subsequent    
         to the adoption of the 2005 scale of contributions    
Excess of income over expenditure        Kingdom of Saudi Arabia  68,961 
  WTO Secretariat  2,280,976          
 Appellate Body and Its Secretariat 174,763  2,455,739       
    
Miscellaneous:      
     Sale of publications and souvenirs  43,399   
    Royalties on sale of publications  68,339  
     Gain on exchange   227,584   
          Savings on previous year's outstanding obligations    
            WTO Secretariat  121,423    
            Appellate Body and Its Secretariat 0 121,423   
          Rental of meeting rooms, office space and
parking at Centre William Rappard to others  153,070   
          Contributions of Observers   814,072   
          Interest on current accounts   60,357   
          Various   236,610   1,724,854 
             
                  
          169,193,815                 169,193,815 
               
               
  (signed)            (signed)              
 Pascal Lamy    Robert Luther  
 Director-General    Director    
     Administration and General Services Division   
  WT/BFA/W/142 
Page 32  
            Statement 3  
  
WORLD TRADE ORGANIZATION   
              
 Surplus Account for the year ended 31 December 2005   
 (in Swiss francs)   
            
              
DEBITS CREDITS 
                  
  Balance as at 1 January 2005  3,036,427   Decrease of provision for contributions in arrears  273,289 
          
  Write-off of irrecoverable publications invoices 2,584   Excess of income over expenditure:   
           Contribution assessed on a new Member subsequent    
   to the adoption of the 2005 scale of contributions   
           Kingdom of Saudi Arabia  68,961   
            
                 
       Excess of actual miscellaneous income    
     over estimated miscellaneous 
income   
           WTO Secretariat 421,454    
         Appellate Body and Its Secretariat   0 421,454 
             
        2005 overall budgetary surplus   
           WTO Secretariat 1,790,561    
         Appellate Body and Its Secretariat 174,763 1,965,324  2,455,739 
            
          Accumulated deficit as at 31 December 2005 309,983 
              
                  
          3,039,011               3,039,011 
              
              
 (signed)         (signed)            
 Pascal Lamy     Robert Luther  
 Director-General     Director  
        Administration and General Services Division  
 
  
   WT/BFA/W/142
 Page 33WORLD TRADE ORGANIZATION  Statement 4  
Statement of Assets and Liabilities as at 31 December 2005  
GENERAL FUND (in Swiss francs)  
 
ASSETS LIABILITIES 
Cash in hand     10,000 Accounts payable      
           Suppliers   3,078,060   
Cash at bank and in postal cheques account  27,488,534     Staff / SSA / Interns  727,457   
            Miscellaneous  347,375  4,152,892 
Investments in CHF (Schedule D)   8,000,000           
          Interest earned in 2004 and 2005 to be distributed to Members   
Investments in Euro (Schedule E)   1,541,000     2004   94,840   
            2005   238,546 333,386 
Investments in GBP (Sch edule F)   2,255,000 39,284,534         
         Contributions paid in advance by Members    
Receivable Deposit - UNDP    96,301   2006   20,390,644   
           2007   254,031 20,644,675 
Accounts receivable:               
  Contributions from Members (Schedule B)  31,032, 182 Payments made in advance by Observers  24,212 
                 
  Contributions from Observers (Schedule C)  843,387 Reserv e for 2005 obligations outstanding as at 31 December 2005   
           WTO Secretariat  1,948,748   
Receivable Cancun Ministerial Meeting in 2003   344,618   Appellate Body and Its Secretariat 3,242 1,951,990 
                 
Miscellaneous accounts receivable      Pr ovision for contributions in arrears  31,032,182 
  WTO Secretariat   4,533,066           
  Appellate Body and Its Secretariat  25,000 4,558,066 Provision for Doha Developmen t Agenda Global Trust Fund 1,000,000 
                 
Bookshop inventory     1,192,977 Provision for Security Enhancement Operating Fund (38,538)
                 
Prepaid expenditure     37,961 Appellate Body  Operating Fund (Document WT/BFA/W/142) 390,568 
                 
Accumulated deficit as at 31 December 2005   309,983 Ex tra-budgetary funds (Document WT/BFA/W/143) 18,218,642 
 (Covered by the Working Capital Fund)            
                 
            77,710,009           77,710,009 
1)  The value of the Centre William Rappard donated by the Swiss authorities in application of th e Headquarters Agreement has b een estimated at CHF 56,000,000. 
2)  Furniture equipment, IT equipment and vehicles are charged to  the budget at time of purchase.  The value at cost of items s till held at 31 December 2005 was CHF 20, 700,961(including leased equipment) 
3)  Stocks of publications, for sale and free distri bution, and other expendable stores were also held. 
 
  
(signed)    
     (signed) 
              
Pascal Lamy Robert Luther 
Director-General Director 
 Administration and General Services Division  
  
  WT/BFA/W/142 
Page 34           Statement 5  
 WORLD TRADE ORGANIZATION   
            
 Statement of Assets and Liabilities as at 31 December 2005   
 WORKING CAPITAL FUND   
 (in Swiss francs)   
            
ASSETS LIABILITIES AND CAPITAL FUND 
                
  Working Capital Fund held in current acc ount   56,698     Principal of Fund:    
         Sums held to the credit of WTO:    
  Investments (Schedule G)      Balance as at 1 January 2005 5,397,530   
  Advance to cover 2005 Accumulated Deficit 309,983       Interest on investments during 2005 59,268   
 Unencumbered Balance  8,590,017  8,900,000     Interest on current account during 2005 45  5,456,843 
               
  Receivable from Members  284,015    Advances ma de by Members as at 1 January 2005 3,737,363   
          New Member:    
  Receivable "Withholding tax" 19,288     Kingdom of Saudi Arabia 65,795  3,803,158 
              
        
               
                
            
                
                
                
                
          9,260,001           9,260,001 
            
            
             (signed)         (signed)             
 Pascal Lamy    Robert Luther  
 Director-General 
   Director 
Administration and Genera l Services Division  
  
   WT/BFA/W/142
 Page 35 
          Statement 6  
 WORLD TRADE ORGANIZATION   
            
 Statement of WTO Annex Building Fund – Phase I as at 31 December 2005   
 (in Swiss francs)   
            
Debit Credit 
               
  Funds held in current account  83,424    Loan payable to FIPOI17  5,000,000 
          
  Receivable "Withholding Tax" 140    Interest on current account 526  
        Bank charges on current account (473)  53 
     
  Investments (Schedule H) 650,000    Interest on investments     1,607 
      
  Accrued interest on investments  324    Accumulated interest  32 
        
  Construction-in-progress18     4,267,804      
       
            
              
               
                
          5,001,692           5,001,692 
            
            
             (signed)            (signed)              
 Pascal Lamy    Robert Luther  
 Director-General 
   Director 
Administration and Genera l Services Division  
                                                      
17 Reimbursement to commence one year after completion over a period of fifty years. 
18 Includes the settlements made by FIPOI on behalf of the WTO.  WT/BFA/W/142 
Page 36  
 
  SCHEDULE A 
2005 Early Payment Encouragement Scheme
 
Interest to be distributed  
 
Members Total Interest 
Albania 41 
Angola 213 
Antigua and Barbuda 1 
Armenia 24 
Australia 4,026 
Austria  4,967 
Bahrain 159 
Bangladesh 124 
Barbados 44 
Belgium 3,927 
Belize 35 
Botswana 90 
Brazil 1,798 
Bulgaria 342 
Burkina Faso 46 
Canada 14,021 
Chile 275 
Chinese Taipei 7,111 
Colombia  123 
Costa Rica 81 
Croatia 429 
Cuba 185 
Cyprus 218 
Czech Republic 1,759 
Denmark  3,484  WT/BFA/W/142 
 Page 37 
 
 
  Members Total Interest 
Ecuador 168 
Egypt 279 
El Salvador 154 
Estonia 254 
Fiji Islands 46 
Finland 2,328 
France 15,063 
Germany 31,229 
Ghana 41 
Greece 1,281 
Grenada 1 
Guatemala 228 
Guyana 9 
Haiti 9 
Honduras 114 
Hong Kong 11,818 
Hungary  1,813 
Iceland  158 
India 1,611 
Indonesia 577 
Ireland 4,717 
Israel 1,332 
Italy 9,249 
Jamaica  24 
Japan 16,562 
Jordan 170 
Kenya 90 
Korea 6,502 WT/BFA/W/142 
Page 38  
 
  Members Total Interest 
Kuwait 252 
Kyrgyz Republic 36 
Latvia 190 
Lesotho 50 
Liechtenstein 87 
Lithuania 43 
Luxembourg 1,127 
Macao 124 
Madagascar 20 
Malaysia 4,311 
Maldives 44 
Mali 2 
Malta  172 
Mauritius 125 
Mexico 7,120 
Moldova 45 
Mongolia 57 
Morocco 346 
Mozambique 46 
Myanmar 49 
Namibia 40 
Nepal 41 
Netherlands 11,117 
New Zealand 875 
Nicaragua 72 
Nigeria 43 
Norway 2,920 
Pakistan 518  WT/BFA/W/142 
 Page 39 
 
 
  Members Total Interest 
Panama 159 
Papua New Guinea 63 
Poland 2,699 
Portugal 311 
Qatar 166 
Romania 140 
Saint Lucia 27 
Senegal 69 
Singapore 7,345 
Slovak 625 
Slovenia 549 
Solomon Islands 1 
South Africa 1,332 
Spain 5,409 
Sri Lanka 113 
St Kitts Nevis 54 
St Vincent Grenadines 38 
Sultanate of Oman 192 
Swaziland 54 
Sweden 2,767 
Switzerland 5,359 
Tanzania 44 
Thailand 3,680 
Trinidad and Tobago 149 
Tunisia 372 
Turkey 1,805 
Uganda 28 
United Arab Emirates 520 WT/BFA/W/142 
Page 40  
 
  Members Total Interest 
United Kingdom 20,034 
United States 4,978 
Uruguay 153 
Venezuela 66 
Zambia 23 
Grand Total 238,546 
   
 
 
  
   WT/BFA/W/142
 Page 41SCHEDULE B/TABLEAU B/CUADRO B  
 
STATEMENT OF OUTSTANDING CONTRIBUTIONS AS AT 31 DE CEMBER 2005/ ETAT DES ARRIERES DE CONTRIBUTIONS 
 AU 31 DECEMBRE 2005/ ESTADO DE CONTRIBUCIONES PENDIENTES AL 31 DE DICIEMBRE DE 2005 ADMINISTRATIVE MEASURES 
MESURES ADMINISTRATIVES 
MEDIDAS ADMINISTRATIVAS 
 2005 CURRENT YEAR SITUATION 
SITUATION DE L'ANNEE COURANTE 
SITUACIÓN DEL AÑO EN CURSO 2006 
Swiss Francs/Francs suisse/Francos suizos CATEGORY/CATEGORIE/ 
CATEGORÍA Swiss Francs/Francs suisse/Francos suizos CHF 
1969 1989 IV Assessment Interest Payments Outstanding Advance 
1988  2001 2 002 2003 2 004 2005 TOTAL I II III Inactive/ Contribution Intérêts Paiements Arriérés Avance Members / Membres / Miembros 
   Inactiva Contribución Intereses Pagos Pendiente Adelantado 
  Albania/Alba nie/Albania 0  0 0 0 0 0 0         25,110 (20) (25,090)  0   
 Angola  0  0 0 0 0 0 0         128,898 (122)  (128,776)  0 - 
  Antigua and Barbuda/Antigua-et- 
Barbuda/  Antigua y Barbuda 0  0 0 0 0 0 0         25,110 - (25,110)  0 95,096  
  Argentina/Argentine/Argentina 0  0 0 0 735,815 684,666 1,420,481         684,666 - 0 684,666 - 
  Armenia/Arménie/Armenia   0 0 0 0 0 0         25,110 - (25,110)  0 - 
  Australia/Australie 0  0 0 0 0 0 0         1,884,924 (2,374)  (1,882,550)  0 - 
  Austria/Autriche 0  0 0 0 0 0 0         2,305,098 (2,793)  (2,302,305)  0 - 
  Bahrain/Bahreïn 0  0 0 0 0 0 0         125,550 (71) (125,479)  0 - 
  Bangladesh 0  0 0 0 0 0 0         177,444 (72) (177,372)  0 - 
  Barbados/Barbade 0  0 0 0 0 0 0         31,806 (29) (31,777)  0 - 
  Belgium/Belgique/Bélgica 0  0 0 0 0 0 0         4,432,752 (4,902)  (4,427,850)  0 - 
  Belize/Belice 0  0 0 0 0 0 0         25,110 - (25,110)  0 - 
  Benin/Bénin 0  0 0 0 760 25,104 25,864         25,110 (6) 0 25,104 - 
  Bolivia/Bolivie 0  0 0 0 0 40,176 40,176         40,176 - 0 40,176 - 
  Botswana 0  0 0 0 0 0 0         58,590 (51) (58,539)  0 - 
  Brazil/Brésil/Brasil 0  0 0 0 0 0 0         1,528,362 - (1,528,362)  0 1,509,453  
  Brunei Darussalam/Brunéi Darussalam 0  0 0 0 0 65,226 65,226         65,286 (60) 0 65,226 - 
  Bulgaria/Bulgarie 0  0 0 0 0 0 0         169,074 (190)  (168,884)  0 - 
  Burkina Faso 0  0 0 0 0 4,672 4,672         25,110 (15) (20,423)  4,672 - 
  Burundi 666,623  353,094 21,315 23,070 24,084 25,110 1,113,296       1 25,110 - 0 25,110 - 
  Cambodia,Kingdom/Cambodge, 
Royaume du/Camboya,Reino   0     7,038 45,198 52,236         45,198 - 0 45,198   
  Cameroon/Cameroun/Camerún 0  0 0 0 26,133 56,871 83,004         56,916 (45) 0 56,871 - 
  Canada/Canadá 0  0 0 0 0 0 0         6,563,754 (7,616)  (6,556,138)  0 6,647,052  
  Central African Republic/République 
centrafricaine/ República Centroafricana 550,128  353,094 21,315 23,070 24,084 25,110 996,801       1 25,110 - 0 25,110 - 
  Chad/Tchad 813,684  325,902 21,315 23,070 24,084 25,110 1,233,165       1 25,110 - 0 25,110 - 
  Chile/Chili 0  0 0 0 0 290,997 290,997         502,200 (224)  (210,979)  290,997 - 
  China, People's Republic of/Chine, 
République populaire de/ China,  República Popular de   0 0 0 0 6,024,285 6,024,285 
        6,024,726 (441)  0 6,024,285 - 
  Colombia/Colombie 0  0 0 0 0 55,539 55,539         346,518 - (290,979)  55,539 - 
  Congo 570,280  362,606 34,104 35,374 38,534 41,850 1,082,748       1 41,850 - 0 41,850 - 
  Costa Rica 0  0 0 0 0 71,383 71,383         170,748 (169)  (99,196)  71,383 - 
  Côte d'Ivoire 0  13,553 96,610 96,894 101,153 103,788 411,998       1 103,788 - 0 103,788 - 
  Croatia/Croatie/Croacia   0 0 0 0 0 0         232,686 (125)  (232,561)  0 - 
  Cuba 0  0 0 0 0 0 0         108,810 (159)  (108,651)  0 - 
  Cyprus/Chypre/Chipre 0  0 0 0 0 0 0         105,462 (79) (105,383)  0 - 
  Czech Republic/République 
tchèque/República Checa 0  0 0 0 0 0 0         897,264 (999)  (896,265)  0 - 
  Democratic Republic of the 
Congo/République démocratique du 
Congo/República Democrática del Congo 496,277  431,947 34,104 24,608 30,506 25,110 1,042,552       1 25,110 - 0 25,110 - 
  Denmark/Danemark/Dinamarca 0  0 0 0 0 0 0         1,617,084 (2,068)  (1,615,016)  0 -  
  WT/BFA/W/142 
Page 42 STATEMENT OF OUTSTANDING CONTRIBUTIONS AS AT 31 DE CEMBER 2005/ ETAT DES ARRIERES DE CONTRIBUTIONS 
 AU 31 DECEMBRE 2005/ ESTADO DE CONTRIBUCIONES PENDIENTES AL 31 DE DICIEMBRE DE 2005 ADMINISTRATIVE MEASURES 
MESURES ADMINISTRATIVES 
MEDIDAS ADMINISTRATIVAS 
 2005 CURRENT YEAR SITUATION 
SITUATION DE L'ANNEE COURANTE 
SITUACIÓN DEL AÑO EN CURSO 2006 
Swiss Francs/Francs suisse/Francos suizos CATEGORY/CATEGORIE/ 
CATEGORÍA Swiss Francs/Francs suisse/Francos suizos CHF 
1969 1989 IV Assessment Interest Payments Outstanding Advance 
1988  2001 2 002 2003 2 004 2005 TOTAL I II III Inactive/ Contribution Intérêts Paiements Arriérés Avance Members / Membres / Miembros 
   Inactiva Contribución Intereses Pagos Pendiente Adelantado 
  Djibouti 0  237,015 21,315 23,070 24,084 25,110 330,594       1 25,110 - 0 25,110 - 
  Dominica/Dominique 0  0 21,237 23,070 24,084 25,110 93,501       1 25,110 - - 25,110 - 
  Dominican Republic/République 
dominicaine/ República Dominicana 673,388  0 114,436 196,864 200,700 210,924 1,396,312     1   210,924 - 0 210,924 - 
  Ecuador/Equateur 0  0 0 0 0 0 0         135,594 (86) (135,508)  0 323,192  
  Egypt/Egypte/Egipto 0  0 0 0 0 0 0         418,500 (197)  (418,303)  0 - 
  El Salvador 0  0 0 0 0 0 0         102,114 - (102,114)  0 2,379  
  Estonia/Estonie/Estonia 0  0 0 0 0 0 0         112,158 (145)  (112,013)  0 119,756  
  European Communities/Communautés 
européennes/ Comunidades Europeas  (a) 0  0 0 0 0 0 0         0   -   - 
  Fiji/Fidji 0  0 0 0 0 0 0         25,110 (26) (25,084)  0 - 
  Finland/Finlande/Finlandia 0  0 0 0 0 0 0         1,041,228 (1,425)  (1,039,803)  0 - 
  Former Yugoslav Republic of 
Macedonia/Ex-République Yougoslave de 
Macédoine/Ex República Yugoslava De   Macedonia 0  0 0 0 0 40,176 40,176         40,176 - 0 40,176   
  France/Francia 0  0 0 0 0 0 0         8,624,448 (10,097)  (8,614,351)  0 - 
  Gabon/Gabón 0  11,712 47,995 52,292 56,196 56,916 225,111       1 56,916 - 0 56,916 - 
  Gambia/Gambie 590,173  281,162 21,315 23,070 24,084 25,110 964,914       1 25,110 - 0 25,110 - 
  Georgia/Georgie   0 0 0 6,742 25,110 31,852         25,110 - 0 25,110 - 
  Germany/Allemagne/Alemania 0  0 0 0 0 0 0         14,851,728 (8,783)  (14,842,945)  0 - 
  Ghana 0  0 0 0 0 0 0         61,938 - (61,938)  0 - 
  Greece/Grèce/Grecia 0  0 0 0 0 0 0         733,212 (448)  (732,764)  0 - 
  Grenada/Grenade/Granada 0  0 0 0 0 0 0         25,110 (29) (25,081)  0 - 
  Guatemala 0  0 0 0 0 0 0         108,810 (87) (108,723)  0 - 
  Guinea/Guinée 0  237,015 21,315 23,070 24,084 25,110 330,594       1 25,110 - 0 25,110 - 
  Guinea-Bissau/Guinée-Bissau 0  237,015 21,315 23,070 24,084 25,110 330,594       1 25,110 - 0 25,110 - 
  Guyana 0  0 0 0 0 0 0         25,110 - (25,110)  0 422  
  Haiti/Haïti/Haití 0  0 0 0 0 0 0         25,110 - (25,110)  0 - 
  Honduras 0  0 0 0 0 0 0         65,286 (44) (65,242)  0 912  
  Hong Kong, China/Hong Kong, Chine 0  0 0 0 0 0 0         5,226,228 (7,171)  (5,219,057)  0 5,296,494  
  Hungary/Hongrie/Hungría 0  0 0 0 0 0 0         838,674 (594)  (838,080)  0 - 
  Iceland/Islande/Islandia 0  0 0 0 0 0 0         73,656 (98) (73,558)  0 - 
  India/Inde 0  0 0 0 0 0 0         1,543,428 (578)  (1,542,850)  0 - 
  Indonesia/Indonésie 0  0 0 0 0 0 0         1,294,002 (610)  (1,293,392)  0 - 
  Ireland/Irlande/Irlanda 0  0 0 0 0 0 0         2,085,804 (2,729)  (2,083,075)  0 - 
  Israel/Israël 0  0 0 0 0 0 0         942,462 (1,062)  (941,400)  0 - 
  Italy/Italie/Italia 0  0 0 0 0 0 0         6,841,638 (6,162)  (6,835,476)  0 - 
  Jamaica/Jamaïque 0  0 0 0 0 0 0         90,396 (39) (90,357)  0 - 
  Japan/Japon/Japón 0  0 0 0 0 0 0         10,253,250 (7,693)  (10,245,557)  0 - 
  Jordan/Jordanie/Jordania 0  0 0 0 0 0 0         107,136 (65) (107,071)  0 - 
  Kenya 0  0 0 0 0 0 0         73,656 (80) (73,576)  0 5,536  
  Korea, Republic of/Corée, République de/  
Corea, República de  0  0 0 0 0 0 0         3,995,838 (4,818)  (3,991,020)  0 - 
  Kuwait/Koweït 0  0 0 0 0 0 0         323,082 (56) (323,026)  0 - 
  Kyrgyz Republic/République 
kirghize/República Kirguisa 0  0 0 0 0 0 0         25,110 (2) (25,108)  0 17,171  
  Latvia/Lettonie/Letonia 0  0 0 0 0 0 0         85,374 (100)  (85,274)  0 - 
  Lesotho 0  0 0 0 0 0 0         25,110 (31) (25,079)  0 - 
  Liechtenstein 0  0 0 0 0 0 0         41,850 (56) (41,794)  0 -  
   WT/BFA/W/142
 Page 43STATEMENT OF OUTSTANDING CONTRIBUTIONS AS AT 31 DE CEMBER 2005/ ETAT DES ARRIERES DE CONTRIBUTIONS 
 AU 31 DECEMBRE 2005/ ESTADO DE CONTRIBUCIONES PENDIENTES AL 31 DE DICIEMBRE DE 2005 ADMINISTRATIVE MEASURES 
MESURES ADMINISTRATIVES 
MEDIDAS ADMINISTRATIVAS 
 2005 CURRENT YEAR SITUATION 
SITUATION DE L'ANNEE COURANTE 
SITUACIÓN DEL AÑO EN CURSO 2006 
Swiss Francs/Francs suisse/Francos suizos CATEGORY/CATEGORIE/ 
CATEGORÍA Swiss Francs/Francs suisse/Francos suizos CHF 
1969 1989 IV Assessment Interest Payments Outstanding Advance 
1988  2001 2 002 2003 2 004 2005 TOTAL I II III Inactive/ Contribution Intérêts Paiements Arriérés Avance Members / Membres / Miembros 
   Inactiva Contribución Intereses Pagos Pendiente Adelantado 
  Lithuania/Lituania   0 0 0 0 0 0         140,616 (133)  (140,483)  0   
  Luxembourg/Luxemburgo 0  0 0 0 0 0 0         594,270 (712)  (593,558)  0 - 
  Macao, China/Macao, Chine 0  0 0 0 0 0 0         108,810 (128)  (108,682)  0 - 
  Madagascar 0  0 0 0 0 0 0         25,110 - (25,110)  0 1,233  
  Malawi 2,755  141,075 21,315 23,070 24,084 25,110 237,409       1 25,110 - 0 25,110 - 
  Malaysia/Malaisie/Malasia 0  0 0 0 0 0 0         2,137,698 (2,555)  (2,135,143)  0 - 
  Maldives/Maldivas 0  0 0 0 0 0 0         25,110 (12) (25,098)  0 - 
  Mali/Malí 0  0 0 0 0 24,054 24,054         25,110 (16) (1,040)  24,054 - 
  Malta/Malte 0  0 0 0 0 0 0         78,678 (62) (78,616)  0 - 
  Mauritania/Mauritanie 708,847  353,094 21,315 23,070 24,084 25,110 1,155,520       1 25,110 - 0 25,110 - 
  Mauritius/Maurice/Mauricio 0  0 0 0 0 0 0         63,612 (78) (63,534)  0 - 
  Mexico/Mexique/México 0  0 0 0 0 0 0         3,878,658 (2,204)  (3,876,454)  0 - 
  Moldova/Moldova   0 0 0 0 0 0         25,110 (22) (25,088)  0   
  Mongolia/Mongolie 0  0 0 0 0 0 0         25,110 (20) (25,090)  0 26,045  
  Morocco/Maroc/Marruecos 0  0 0 0 0 0 0         262,818 (154)  (262,664)  0 - 
  Mozambique 0  0 0 0 0 0 0         25,110 (3) (25,107)  0 - 
  Myanmar, Union of/Myanmar, Union du/
  Myanmar, Unión de 0  0 0 0 0 0 0         53,568 (32) (53,536)  0 - 
  Namibia/Namibie 0  0 0 0 0 0 0         36,828 (38) (36,790)  0 - 
  Nepal, Kingdom of /Népal, Royaume du 
/Nepal, Reino de    0     0 0 0         31,806 - (31,806)  0   
  Netherlands, Kingdom of/Pays-Bas, 
Royaume des/ Países Bajos, Reino de los 0  0 0 0 0 0 0         5,671,512 (6,543)  (5,664,969)  0 - 
  New Zealand/Nouvelle-Zélande/Nueva 
Zelandia 0  0 0 0 0 0 0         408,456 (490)  (407,966)  0 - 
  Nicaragua 0  0 0 0 0 0 0         31,806 (45) (31,761)  0 9,934  
  Niger/Níger 342,864  320,780 21,315 23,070 24,084 25,110 757,223       1 25,110 - 0 25,110 - 
  Nigeria/Nigéria 0  0 0 0 0 0 0         313,038 - (313,038)  0 - 
  Norway/Norvège/Noruega 0  0 0 0 0 0 0         1,412,856 (1,787)  (1,411,069)  0 - 
  Oman/Oman/Omán   0 0 0 0 0 0         179,118 (120)  (178,998)  0 - 
  Pakistan/Pakistán 0  0 0 0 0 0 0         256,122 (236)  (255,886)  0 - 
  Panama/Panamá 0  0 0 0 0 0 0         184,140 (130)  (184,010)  0 8,634  
  Papua New Guinea/Papouasie-Nouvelle-
Guinée/ Papua Nueva Guinea 0  0 0 0 0 0 0         48,546 - (48,546)  0 3,300  
  Paraguay 0  0 14,477 79,711 81,886 73,656 249,730     1   73,656 - 0 73,656 - 
  Peru/Pérou/Perú 0  0 0 185,828 208,728 209,250 603,806   1      209,250 - 0 209,250 - 
  Philippines/Filipinas 0  0 0 0 643,810 890,568 1,534,378         890,568 - 0 890,568 - 
  Poland/Pologne/Polonia 0  0 0 0 0 0 0         1,213,650 (1,493)  (1,212,157)  0 - 
  Portugal 0  0 0 0 0 0 0         934,092 (965)  (933,127)  0 - 
  Qatar 0  0 0 0 0 0 0         152,334 (123)  (152,211)  0 - 
  Romania/Roumanie/Rumania 0  0 0 0 0 0 0         314,712 (306)  (314,406)  0 - 
  Rwanda 0  0 0 0 22,044 25,110 47,154         25,110 - 0 25,110 - 
  Saint Kitts and Nevis/Saint-Kitts-et-
Nevis/  Saint Kitts y Nevis 0  0 0 0 0 0 0         25,110 (29) (25,081)  0 - 
  Saint Lucia/Sainte-Lucie/Santa Lucía 0  0 0 0 0 0 0         25,110 (7) (25,103)  0 - 
  St. Vincent and the Grenadines/Saint-
Vincent-et-lesGrenadines/San Vicente y 
las Granadinas   0  0 0 0 0 2,390 2,390         25,110 (17) (22,703)  2,390 -  
  WT/BFA/W/142 
Page 44 STATEMENT OF OUTSTANDING CONTRIBUTIONS AS AT 31 DE CEMBER 2005/ ETAT DES ARRIERES DE CONTRIBUTIONS 
 AU 31 DECEMBRE 2005/ ESTADO DE CONTRIBUCIONES PENDIENTES AL 31 DE DICIEMBRE DE 2005 ADMINISTRATIVE MEASURES 
MESURES ADMINISTRATIVES 
MEDIDAS ADMINISTRATIVAS 
 2005 CURRENT YEAR SITUATION 
SITUATION DE L'ANNEE COURANTE 
SITUACIÓN DEL AÑO EN CURSO 2006 
Swiss Francs/Francs suisse/Francos suizos CATEGORY/CATEGORIE/ 
CATEGORÍA Swiss Francs/Francs suisse/Francos suizos CHF 
1969 1989 IV Assessment Interest Payments Outstanding Advance 
1988  2001 2 002 2003 2 004 2005 TOTAL I II III Inactive/ Contribution Intérêts Paiements Arriérés Avance Members / Membres / Miembros 
   Inactiva Contribución Intereses Pagos Pendiente Adelantado 
  Saudi Arabia/Arabie Saoudite/ Arabia 
Saudita           68,961 68,961         68,961     68,961 - 
  Senegal/Sénégal 0  0 0 0 0 260 260         35,154 (50) (34,844)  260 - 
  Sierra Leone/Sierra Leona 717,498  353,094 21,315 23,070 24,084 25,110 1,164,171       1 25,110 - 0 25,110 - 
  Singapore/Singapour/Singapur 0  0 0 0 0 0 0         3,339,630 (3,179)  (3,336,451)  0 3,618,756  
  Slovak Republic/Républ ique slovaque/ 
  República Eslovaca 0  0 0 0 0 0 0         308,016 (416)  (307,600)  0 - 
  Slovenia/Slovénie/Eslovenia 0  0 0 0 0 0 0         267,840 (328)  (267,512)  0 - 
  Solomon Islands/Il es Salomon/Islas 
Salomón 0  0 0 0 0 0 0         25,110 - (25,110)  0 - 
  South Africa/Afrique du Sud/Sudáfrica 0  0 0 0 0 0 0         785,106 (814)  (784,292)  0 - 
  Spain/Espagne/España 0  0 0 0 0 0 0         4,118,040 (3,705)  (4,114,335)  0 - 
  Sri Lanka 0  0 0 0 0 0 0         152,334 (55) (152,279)  0 - 
  Suriname 0  0 0 0 9,050 25,110 34,160         25,110 - 0 25,110 - 
  Swaziland/Swazilandia 0  0 0 0 0 0 0         26,784 (30) (26,754)  0 - 
  Sweden/Suède/Suecia 0  0 0 0 0 0 0         2,281,662 (2,505)  (2,279,157)  0 - 
  Switzerland/Suisse/Suiza 0  0 0 0 0 0 0         2,430,648 (3,207)  (2,427,441)  0 - 
  Chinese Taipei/Taipei Chinois/T 
aipei Chino   0 0 0 0 0 0         3,259,278 (1,201)  (3,258,077)  0   
  Tanzania/Tanzanie/Tanzanía 0  0 0 0 0 0 0         40,176 - (40,176)  0 13,430  
  Thailand/Thaïlande/Tailandia 0  0 0 0 0 0 0         1,627,128 (1,903)  (1,625,225)  0 1,718,165  
  Togo 111,427  311,463 21,315 23,070 24,084 25,110 516,469       1 25,110 - 0 25,110 - 
  Trinidad and Tobago/Trinité-et-Tobago/ 
  Trinidad y Tabago 0  0 0 0 0 0 0         83,700 (80) (83,620)  0 - 
  Tunisia/Tunisie/Túnez 0  0 0 0 0 8,663 8,663         215,946 (231)  (207,052)  8,663 - 
  Turkey/Turquie/Turquía 0  0 0 0 0 0 0         1,201,932 (680)  (1,201,252)  0 1,199,494  
  Uganda/Ouganda 0  0 0 0 0 0 0         26,784 (12) (26,772)  0 1,437  
  United Arab Emirates/Emirats arabes 
unis/ Emiratos Árabes Unidos 0  0 0 0 0 0 0         1,007,748 (425)  (1,007,323)  0 - 
  United Kingdom of Great Britain and 
Northern Ireland/Royaume-Uni de Grande-Bretagne et d'Irlande du 
Nord/Reino Unido de Gran Bretaña e 
Irlanda del Norte 0  0 0 0 0 0 0 
        9,548,496 (12,260)  (9,536,236)  0 -  
   WT/BFA/W/142
 Page 45STATEMENT OF OUTSTANDING CONTRIBUTIONS AS AT 31 DE CEMBER 2005/ ETAT DES ARRIERES DE CONTRIBUTIONS 
 AU 31 DECEMBRE 2005/ ESTADO DE CONTRIBUCIONES PENDIENTES AL 31 DE DICIEMBRE DE 2005 ADMINISTRATIVE MEASURES 
MESURES ADMINISTRATIVES 
MEDIDAS ADMINISTRATIVAS 
 2005 CURRENT YEAR SITUATION 
SITUATION DE L'ANNEE COURANTE 
SITUACIÓN DEL AÑO EN CURSO 2006 
Swiss Francs/Francs suisse/Francos suizos CATEGORY/CATEGORIE/ 
CATEGORÍA Swiss Francs/Francs suisse/Francos suizos CHF 
1969 1989 IV Assessment Interest Payments Outstanding Advance 
1988  2001 2 002 2003 2 004 2005 TOTAL I II III Inactive/ Contribution Intérêts Paiements Arriérés Avance Members / Membres / Miembros 
   Inactiva Contribución Intereses Pagos Pendiente Adelantado 
  United States of America/Etats-Unis 
d'Amérique/  Estados Unidos de América 0  0 0 0 0 5,474,241 5,474,241         26,445,852 (3,011)  (20,968,600)  5,474,241   
  Uruguay 0  0 0 0 0 0 0         83,700 - (83,700)  0 - 
  Venezuela 0  0 0 0 0 511,446 511,446         544,050 - (32,604)  511,446 - 
  Zambia/Zambie 0  0 0 0 0 0 0         26,784 - (26,784)  0 26,784  
  Zimbabwe 0  0 0 0 69 53,568 53,637         53,568 -   53,568 - 
  Sub-Total/Total partiel/Total parcial 6,243,944  4,323,621 618,743 971,481 2,482,256 15,561,698 30,201,74
3 0  1  2 17 167,468,961 (128,493) (151,778,770) 15,561,698 20,644,675  
  Former Contracting Parties to GATT 1947 which are not WTO Memb ers/Anciennes parties contractantes au GATT de 1947 qui ne sont  pas Membres de l'OMC/Antiguas Partes Contratantes del GATT de 1947 que no son Miembros de la OMC 
 
  Yugoslavia/Yougoslavie 0  830,439          830,439                 - 
  Sub-Total/Total partiel/Total parcial 0  830,439          830,439 0 0  0 0 0 0  0 0 0  
                  
  GRAND TOTAL / TOTAL GENERAL 6,243,944  5,154,060  618,743 971,481 2,482,256 15,561,698 31,032,182 0 1  2  17 167,468,961 (128,493) (151,778,770) 15,561,698 20,644,675  
 
2005: Summary /Résumé /Resumen       
                  
                  
       CHF % 
Contributions assessed on Members            
Contributions mises à la charge des Membres      167,400,000     
Contribuciones señaladas a los Miembros                
(1) New Members                 
(1) Nouveaux Membres       68,961     
(1) Nuevos Miembros             167,468,961   
Less interest returned          
Moins intérêts ristournés    (128,493)      
Menos intereses devengados                
Less payments for 2005                 
Moins paiements pour l'année 2005           (151,778,770)      
Menos montos pagados para 2005             (151,907,263)  90.71%  
2005 Contributions outstanding         
Arriérés pour 2005          
Contribuciones pendientes para 2005     15,561,698 9.29%  
           100.00%  
                 
(1) Saudi Arabia           68,961 
                       
                  
                68,961 
                  
  
  WT/BFA/W/142 
Page 46 SCHEDULE C 
Observers Statement of Outstanding Contributions  
As at 31 December 2005  
(in Swiss Francs ) 
  
OBSERVER  GOVERNMENTS / GOUVERNEMENTS 
OBSERVATEURS / GOBIERNOS OBSERVADORES 
  1995 
 1996 
 1997 
 1998 
  1999 
  2000 
  2001 
  2002  
   2003  
 2004  
 2005  
 Total 
 Advance/ 
Avances/ 
Anticipos para 
2006 
Afghanistan                   1,254 25,110 26,364   
Algeria /Algérie /Argelia 0 0 0 0 0 0  0 0 0 0 0 0   
Andorra /Andorre /Andorra 0 0 0 0 0 0  0 0 0 0 0 0   
Azerbaijan /Azerbaïdjan /Azerbaiyán 0 0 0 0 0 0  0 0 0 0 0 0   
Bahamas / Bahamas / Bahamas 0 0 0 0 0 0  0 0 0 0 0 0 2,437  
Belarus /Bélarus / Belarús 0 0 0 0 0 0  0 0 0 0 0 0   
Bhutan /Bhoutan /Bhután 0 0 0 0 0 0  0 0 0 0 0 0   
Bosnia and Herzegovina /Bosnie-Herzégovine /Bosnia y 
Herzegovina         0 0  0 0 0 0 0 0   
Cap Verde /Cap-Vert /Cabo Verde 0 0 0 0 0 0  0 0 0 0 1,596 1,596   
Equatorial Guinea 0 0 0 0 0 0  0 13,607 23,070 24,084 25,110 85,871   
Ethiopia /Éthiopie /Etiopía 0 0 0 0 0 0  0 0 0 0 0 0   
Holy See /Saint-Siège /Santa Se de 0 0 0 0 0 0  0 0 0 0 0 0   
Iran/Iran/Iran                     0 0   
Iraq/Iraq/Iraq 0 0 0 0 0 0  0 0 0 0 0 0 21,445  
Kazakhstan /Kazakhstan /Kazajstán 0 0 0 0 0 0    0 0 0 0 0   
Lao People's Democratic Republic  /République démocratique 
populaire lao /         0 0                
  República Democrática Popular Lao 0 0 0 0 0 0  0 0 0 0 0 0   
Lebanon /Liban /Líbano 0 0 0 0 0 0  0 0 0 0 25,110 25,110   
Libyan Arab Jamahiriya/Jamahiriya Arabe Libyenne/Jamahiriya 
Arabe Libia 0 0 0 0 0 0  0 0 0 0 0 0   
Montenegro (Republic of)/Montenegro (République de )                   0 35,583 35,583   
Russian Federation /Fédération de Russie /Feder ación de Rusia 0 0 0 0 0 0  0 0 0 0 0 0   
Samoa /Samoa /Samoa 0 0 0 0 0 0  0 0 0 0 0 0   
Sao Tome And Principe /Sao Tomé-et-Principe /Santo Tomé y 
Príncipe 0 0 0 0 0 0  17,860 21,315 23,070 24,084 25,110 111,439   
Saudi Arabia /Arabie Saoudite /Arabia Saudita 0 0 0 0 0 0  0 0 0 0 0 0   
Serbia (Republic of) /Serbia (République de)            0 0 0 0 0 0   
Seychelles /Seychelles /Seychelles       17,160 18,165 18,990  19,935 21,315 23,070 24,084 25,110 167,829   
Sudan /Soudan /Sudán 0 0 4,152 17,160 18,165 18,990  19,935 21,315 23,070 24,084 25,110 171,981   
Tajikistan /Tadjikistan /Tayikistán 0 0 0 0 0 0  0 0 0 0 0 0 330  
Tonga /Tonga /Tonga 0 0 0 0 0 0  0 0 0 0 0 0   
Ukraine /Ukraine /Ucrania 0 0 0 0 0 0  0 0 0 0 0 0   
Uzbekistan /Ouzbékistan /Uzbekis tán 0 0 0 0 0 0  0 0 0 0 0 0   
Vanuatu /Vanuatu /Vanuatu 15,660 16,995 17,130 17,160 18,165 18,990  19,935 21,315 23,070 24,084 25,110 217,614   
Viet Nam /Viet Nam /Viet Nam             0 0 0 0 0 0   
Yemen /Yémen /Yemen 0 0 0 0 0 0  0 0 0 0 0 0   
TOTAL  15,660 16,995 21,282 51,480 54,495 56,970 77,665 98,867 115,350 121,674 212,949 843,387 24,212  WT/BFA/W/142 
 Page 47 
 
 
  SCHEDULE D  
INVESTMENTS HELD ON 31 DECEMBER 2005  
(IN CHF)  
 
 
Deposit account with:    Amount   Interest Rate %   Maturity Date   
          
          
UBS SA, Geneva   8,000,000  0.80   13 January 2006  
          
          
          
 TOTAL IN CHF  8,000,000       
          
          
          
          
          
          
                                                            
(signed)     (signed)   
            
Pascal Lamy   Robert Luther  
Director-General   Director  
     Administration and General Services Division  
 
 
 WT/BFA/W/142 
Page 48  
 
  SCHEDULE E 
INVESTMENTS HELD ON 31 DECEMBER 2005
 
(in EUR) 
                              
Deposit account with:
  Amount Interest Rate %  Maturity Date  
      
        UBS SA, Geneva   1,000,000 2.3325 23 January 2006                TOTAL IN EUR  1,000,000
1/   
                
        
1/ EUR 1,000,000 at 1.541 = CHF 1,541,000    
                                                         
(signed)             (signed)  
         
Pascal Lamy Robert Luther 
Director-General Director 
     Administration and General Services Division 
  WT/BFA/W/142 
 Page 49 
 
 
   
SCHEDULE F 
INVESTMENTS HELD ON 31 DECEMBER 2005  
(in GBP) 
                                   
Deposit account with:
  Amount Interest Rate %   Maturity Date  
       
         UBS SA, Geneva   1,000,000 4.56  23 January 2006                    TOTAL IN GBP  1,000,000
1/    
                                    
1/ GBP 1,000,000 at 2.255 = CHF 2,255,000     
                                                                       
  
(signed)  (signed)  
          
Pascal Lamy  Robert Luther 
Director-General  Director 
     Administration and General Services Division 
 WT/BFA/W/142 
Page 50  
 
   
SCHEDULE G 
INVESTMENTS HELD ON 31 DECEMBER 2005
 
WORKING CAPITAL FUND  
(in CHF) 
                        
Deposit account with:
  Amount Interest Rate %  Maturity Date  
      
         UBS SA, Geneva   8,900,000 0.82 23 January 2006             
                      TOTAL IN CHF   8,900,000
  
                                                  
(signed)     (signed)  
       
Pascal Lamy    Robert Luther 
Director-General    Director 
      Administration and General Services Division 
 
 
  WT/BFA/W/142 
 Page 51 
 
 
   
 
SCHEDULE H 
INVESTMENTS HELD ON 31 DECEMBER 2005  
WTO ANNEX BUILDING  
(in CHF) 
                     
Deposit account with:
  Amount Interest Rate %   Maturity Date  
       
         UBS SA, Geneva   500,000  0.85  25 January 2006          UBS SA, Geneva   150,000  0.74  25 January 2006           TOTAL IN CHF  650,000 
    
                                                                                  
(signed)  (signed)   
        
Pascal Lamy  Robert Luther 
Director-General  Director 
     Administration and General Services Division WT/BFA/W/142 
Page 52  
 
  ANNEX 
 
STATEMENT OF SIGNIFICAN T ACCOUNTING POLICIES 
 
 
140. Following decisions by the World Trade Organization, the accounts of WTO were maintained 
in accordance with the Financial Regulations and Rules of the WTO, as adopted by the General 
Council (WT/GC/M/8 and WT/GC/M/82, respectively). 
141. The accounts are maintained on a fund basis.  A General Fund and a Working Capital Fund, 
supplemented when appropriate by Trust Funds , have been established in accordance with 
Chapters V, VI and VII of the Fi nancial Regulations of the WTO. 
142. The financial period consists of one calendar year. 
143. The accounts are maintained and contributions are assessed in Swiss francs.  Assets or 
liabilities in other currencies are converted to Swi ss francs at the official United Nations rate of 
exchange at the date of the transaction. 
144. Gains or losses on exchange are added to or deducted from miscellaneous income. 
145. Income, including contributions assessed on WTO Members, and expenditure are accounted 
for on an accrual basis. 
146. Any achieved surplus for the financial year is at  the disposal of the Members of World Trade 
Organization. 
147. Provisions are made for the entire amount of contributions receivable from Members of 
World Trade Organization and for losses and returns in  respect of publications sales.  A reserve is 
maintained for all outstanding obligations at the end of the financial year. 
148. Fixed assets purchased during the financial year are charged to the budget at the time of 
purchase.  The value at cost of items still held in  inventory, (excluding th e bookshop inventory) is 
recorded in a note on the Statement of Assets and Liabilities. 
 
    
 
 (signed)  (signed) 
 _______________________________  __________________________________ 
  Pascal Lamy Robert Luther 
  Director-General Director 
   Administration and General Services Division 
 
 
__________