1. Introduction  2

Message from Director‑GeneralRoberto Azevêdo  2

Understanding the WTO  4

How it all comes together  6

20 years of the WTO  8

2. A year in review  10

Events of 2014 12 Our year  14

3. Membership  20

Joining the WTO  22

Welcoming new members  24

A global membership  26

4. Trade negotiations  28

5. Implementation and monitoring  44

6. Dispute settlement  90

7. Building trade capacity  108

8. Outreach  124

9. Secretariat and budget  150