base

[hector51]

Tuesday's development comes on the same day that the World Trade Organization is scheduled to approve Vietnam's entry into the Geneva-based body and just days before it hosts the Asia-Pacific Economic Cooperation summit, which will draw heads of state and business executives from around the globe.

(this paragraph is from CNN.com)

What does "Geneva based" mean here?I guess it means the place in which the World Trade Organization is placed,I'm right,ain't I?I happen this phrase many time when reading CNN( like Redmon-based company),I can guess its meaning but I just want to make sure I'm thinking in a right way.

Thx in advance!

[JSmiley]

Yes you are correct, but not where it is placed but where the main, or head office of the organization is or where it came from originally. The organization is actually placed all over the world, but is based in Geneva.

Cheers.