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Role of World Trade Organization (Wto) in Facilitating International Trade

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Role of World Trade Organization (Wto) in Facilitating International Trade
ABSTRACT

World Trade Organization (WTO) is an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules. The WTO began life on 1 January 1995 and has 153 members, representing more than 97% of the world's population, and 30 observers, most seeking membership.

The role of WTO in facilitating International Trade is giving the consumers more choice and a broader range of qualities to choose from, raises income, makes it more economically efficient and cut costs, shields governments from narrow interests and encourages good government. This helps to make international trading more efficient and effective for all countries.

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References: http://en.wikipedia.org/wiki/World_Trade_Organization http://www.wto.org/english/thewto_e/whatis_e/who_we_are_e.htm http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b05_e.htm http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b06_e.htm http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b08_e.htm http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b09_e.htm http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b10_e.htm
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