The Effects of the Wto on International Trade
1. Introduction
As one of the world-wide international organizations, the World Trade Organization (WTO) has played a crucial role to ensure trade open between the members and has produced benefits for them since its inception. This essay will focus on appraising the impactions of WTO on facilitating international trade over the last fifteen years. Firstly, an overall description of the WTO will be provided; then it is going to show a multiple evaluation of the WTO’s performances; lastly, it will conclude with the precious information and make a summary.
2. Introduction of the WTO
2.1 The overview of the WTO and its functions
The WTO begins with the General Agreement on Tariffs and Trade (GATT) and applies some of its basic principles such as non-discrimination for negotiation and decision-making. However, the 1947 GATT produced only a weak global trading framework, the WTO which formed in 1995 created strong legal orientation for trade liberalization. The WTO agreements cover goods, services and intellectual property, rather than the GATT only concentrates on merchandise. And some principles has been produced for service these wide ranges of agreements, the principles formed the basic multilateral trading system. Moreover, the WTO is designed for its member nations to negotiate trade agreements and organizes a Dispute Settlement Body to oversee procedure for specific trade disputes between countries. The WTO also creates principles for promoting the development of multilateral trading. For insistence, the principles of non-discrimination, lower trade barriers, transparent and competitive policies are beneficial for the multilateral trading system.
Inevitably, the WTO performs a variety of functions which include managing WTO trade agreements, organizing trade negotiations, supervising state trade policies, technical assistance for low developing countries and dispute settlement, etc.
2.2 The Ministerial Conferences and decisions
The
As one of the world-wide international organizations, the World Trade Organization (WTO) has played a crucial role to ensure trade open between the members and has produced benefits for them since its inception. This essay will focus on appraising the impactions of WTO on facilitating international trade over the last fifteen years. Firstly, an overall description of the WTO will be provided; then it is going to show a multiple evaluation of the WTO’s performances; lastly, it will conclude with the precious information and make a summary.
2. Introduction of the WTO
2.1 The overview of the WTO and its functions
The WTO begins with the General Agreement on Tariffs and Trade (GATT) and applies some of its basic principles such as non-discrimination for negotiation and decision-making. However, the 1947 GATT produced only a weak global trading framework, the WTO which formed in 1995 created strong legal orientation for trade liberalization. The WTO agreements cover goods, services and intellectual property, rather than the GATT only concentrates on merchandise. And some principles has been produced for service these wide ranges of agreements, the principles formed the basic multilateral trading system. Moreover, the WTO is designed for its member nations to negotiate trade agreements and organizes a Dispute Settlement Body to oversee procedure for specific trade disputes between countries. The WTO also creates principles for promoting the development of multilateral trading. For insistence, the principles of non-discrimination, lower trade barriers, transparent and competitive policies are beneficial for the multilateral trading system.
Inevitably, the WTO performs a variety of functions which include managing WTO trade agreements, organizing trade negotiations, supervising state trade policies, technical assistance for low developing countries and dispute settlement, etc.
2.2 The Ministerial Conferences and decisions
The
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