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  • World Trade Organization

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    The World Trade Organization (WTO) functions include administering and implementing trade agreements, providing a forum for trade negotiations, resolving trade disputes between members, overseeing national trade policies, and providing technical assistance. Its principles are to promote free trade without discrimination, encourage fair competition, and foster economic development and reform. The WTO handles disputes constructively and its establishment aims to promote peace and stimulate economic growth by raising incomes and cutting living costs while shielding governments from lobbying. However, critics argue it can dictate policy and favor commercial interests over development, environment, health and safety issues in a way that destroys jobs and worsens poverty for small and powerless member countries.

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    The World Trade Organization (WTO) functions include administering and implementing trade agreements, providing a forum for trade negotiations, resolving trade disputes between members, overseeing national trade policies, and providing technical assistance. Its principles are to promote free trade without discrimination, encourage fair competition, and foster economic development and reform. The WTO handles disputes constructively and its establishment aims to promote peace and stimulate economic growth by raising incomes and cutting living costs while shielding governments from lobbying. However, critics argue it can dictate policy and favor commercial interests over development, environment, health and safety issues in a way that destroys jobs and worsens poverty for small and powerless member countries.

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    Attribution Non-Commercial (BY-NC)
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    51 views7 pages

    World Trade Organization

    Uploaded by

    ajay12agrahari
    The World Trade Organization (WTO) functions include administering and implementing trade agreements, providing a forum for trade negotiations, resolving trade disputes between members, overseeing national trade policies, and providing technical assistance. Its principles are to promote free trade without discrimination, encourage fair competition, and foster economic development and reform. The WTO handles disputes constructively and its establishment aims to promote peace and stimulate economic growth by raising incomes and cutting living costs while shielding governments from lobbying. However, critics argue it can dictate policy and favor commercial interests over development, environment, health and safety issues in a way that destroys jobs and worsens poverty for small and powerless member countries.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 7

    World Trade Organization

    Functions

    Administering and implementing trade


    agreements.

    Forum for trade agreements.

    Resolve trade disputes.

    Overseeing national policies.

    Rendering technical assistance.

    Cooperate in global economic policy.


    Principles

    Trad Encou
    Prom
    ing
    with
    Fre oting
    raging
    develo
    Pred
    out er icta fair pment
    and
    disc bilit com
    rimi
    Tra y.
    econo
    pleti mic
    nati de. on. reform
    on. .
    Advantage

    Promotes peace. Promotes peace.


    ●

    Trade raises income. Trade raises income.


    ●

    Stimulates economic growth. Stimulates economic growth.


    ●

    Handles disputes constructively. Handles disputes constructively


    ●

    Free trade cuts the cost of living. Free trade cuts the cost of living.
    ●

    Govt. are shielded from lobbying Govt. are shielded from lobbying
    ●

    Wide choice for products and qualities. Wide choice for products and qualities
    ●
    Disadvantage

    Undemocratic.

    Dictates policy.
    Commercial interest at the cost
    of development, environment,
    health and safety.

    Destroys jobs
    worsen poverty.

    Small countries are


    powerless.
    History
    GATT vs WTO

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