The World Trade Organization (WTO)

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The World Trade Organization (WTO) is the most powerful lawmaking and legal body in the world. It is the only global international organization dealing with the rules of trade between nations. The goal of the organization is to help producers of goods and services, exporters and importers handling their business. • Who We Are- The WTO was born out of negotiations, and everything it does is the result of negotiations. The purpose of it is to help trade flows as freely as possible- safeguarding no objectionable effects- as it is important for economic development and well-being. It also confirms the individuals, companies and governments know what the trade rules around the globe and giving them confidence of no sudden changes in policy. • What We Do- The WTO is run by its member governments. These members on a daily basis guarantee, among other things, that discussions progress smoothly, and that the rules of international trade are correctly functional and obligatory. • What We Stand For- The WTO treaties are extensive and multifaceted but a number of simple essential principles are common in these documents. I would write about a few of them which are non discrimination as a country should not discriminate between its trading partners and its own and foreign goods. Predictable and transparent as through this investment is encouraged, jobs are created and consumers enjoy the benefits of competition and is more beneficial for less developed countries by giving them more time to adjust, greater flexibility and special privileges. I will now talk about the Regional Trade Agreements. These Agreements remove all barriers to trade and foreign investment, like custom duties on imports. It can be segregated into two classes- custom u... ... middle of paper ... ...ed Dec 1, 2013] {online} The European Common Market. By- Dr. Koitcho Beltchev- [Accessed Nov 30, 2013] {online} The Lawyers & Jurists- [Accessed Nov 30,2013] {online} What is an Economic Union- [Accessed Nov 30, 2013] {online} World Trade Organization- [Accessed Dec 1,2013] {online} WiseGeek/Free Trade Agreements- [Accessed Dec 2, 2013] {online}
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