1.Introduction. This Report Addresses Different Types Of

Unlike previous years of solely trading goods, the WTO allowed for trade to consist of property and services among different countries. Countries could now be globalized in all goods their country didn’t have through the use of free trade. The process of trading was revolutionized by new developments in technology as more and more countries began to trade.

World trade organization is an international governing body which deals with trade between countries. In regard to various nations which are under the World Trade Organization, the goal is to help producers of supplies of services, exporters and importers conduct their activities. The WTO has decreased the level of tariffs, but a boost in non tariff measures in rural areas which is obstructing trade. This will be discussed furthermore in the assignment.

There is a saying, “There are gains from trade. Because of trading, we are now driving the fancy sporty cars such as Lamborghini and Ferrari which are produced by Italy; and Italian are using the hottest smart phone which designed by American”. Trading brings a huge benefit for these two countries which is sharing and gaining their superior production to each other. However, nothing can be accomplished without norms or standards. Although trading has diversified advantages, it could be some risks hidden back. For instance, drugs trading and arms trading can endanger national security. Therefore, we need to make up trading agreement to regularize trading among those countries to ensure any trading activities are legal and safety. The World Trade Organization (WTO) which was called General Agreement on Tariffs and Trade (GATT) is an intergovernmental organization which regulates international trade( ). The WTO manages regulation of exchange between the interest nation by giving a structure to arrange exchange assertions and a debate determination procedure to authorize the members’ adherence to WTO understandings, which are marked by agents of part government and confirmed by their parliament.( )THE WTO current has 160 member states which is one of the biggest trade organization. United States has participated in WTO since 1995 and was a member of GATT since 1948. Therefore, United States has built favorable economic relations within WTO member countries. However; United

The official World Trade Organisation web site, defines the WTO as “the only global international organisation dealing with the rules of trade between nations . . . [through] helping producers of goods and services, exporters, and importers (to) conduct their business”1. It was formed in 1995 after growing out of and extending the institution of the General Agreement on Tariffs and Trade. As of the thirtieth of November 2000, the WTO has 140 member-countries, over three-quarters of which are developing or least-developed countries. As the WTO implies, its current role is to serve as the lubrication for the joints in the engine of globalisation; although just how effective and fair this lubrication may be,

The WTO is a multilateral trading system regulating not only goods but also investment, intellectual property and services such as healthcare and education . Such services, Simon Retallack believes, are responsibility of national governments but then are governed by the WTO, which ‘run totally by and for the benefit of multinational corporations’ . Similarly, environmentalists accuse the WTO of undermining ‘necessary environmental legislation’ .

This paper analyzes how the world Trade Organization serves to protect, reduce and eliminate any international conflicts surrounding trade exportations and/or importations. The first variable to be analyzed in this paper is how the World trade organization came into existence. This background reference will help describe why there was a need for the creation of this organization. The next variable to be analyzed in this paper is the purpose and function of the World Trade Organization (WTO). Also, this paper analyzes the power of the world trade organizations and how those powers are used. The final variable to be analyzed is the policies that are carried out within the structure of the World Trade Organization (WTO, enforcement of how those guidelines work within the World Trade Organization (WTO) are enforced amongst actors that are affected by the organizations and its protocols.

A Dispute Settlement Body (DSB) has been set up under Article IV of WTO Agreement and the Understanding on Rules and Procedures Governing the

It is also beneficial in raising incomes and stimulating economic growth. As an example, China is one of the countries who have experienced rapid economic growth after joining WTO. In 2002, China’s first year in membership of WTO, their total foreign trade import-export value reached US$620.8 billion with growth rate of 21.8 percent over the previous year (Pei, Fung and Zhang, 2006: p. 3).

In recent years, The World Trade Organization trading system has playing a significant role in our nations. More and more nations have taken part in this organization for gaining a great benefit from trading between nations. WTO looks itself as a system that helps trade to flow smoothly and provide countries with a constructive and fair outlet for dealing with disputes over trade issues (WTO, 2008). However, there is a drawback for this system such as it does not claim to be a "free market" organization. According to the WTO, it is sometimes described as a free trade institution but that is not absolutely correct. The system does allow tariffs and in limited circumstances and other forms of protection. More exactly, it is a system of rules for committed to open fair and undistorted competition (Promoting fair competition, 2015). This is similarity to a certain level of protection is proved. By the fact that, cartels like the OPEC have never been involved in trade argument with the WTO, despite the evident contrast between their objectives (Farah, Paolo Davide; Cima, Elena, 2013).

The World Trade Organization is an intergovernmental organization that is mandated with the responsibility of regulating international trade. Each country in the world is considered to be endowed with limited resources that make it impossible for these countries to produce each and every good and service that they deem essential for their citizens’ consumption. It is on the basis of different and limited resource endowment that countries embark on the process of trading amongst themselves so as to export what they have in abundance to other countries and to import what their lack. The formation of the World Trade Organization was officially done on 1st January, 1995, and was done under the Marrakesh Agreement (Abreu, 1998). The organization, nevertheless, came into existence after about 124 member countries came together and agreed to form the organization. It is worth noting that the WTO was formed so as to replace the General Agreement on Tariffs and Trade (GATT), which commenced its operation in 1948.

The World Trade Organization or WTO is a large group of countries formed in January of 1995 and comprised of about 165 countries, replacing GATT. According to the WTO’s website describes itself as “a forum for governments to negotiate trade agreements, . . . a place for them to settle trade disputes, . . . operates a system of trade rules” (“Who We Are,” 2016). The WTO is a place where the governments of member countries try to sort out and develop problems that countries may have with one another. Every so often a problem with trade takes place that requires large amounts of negotiations before establishing new rules and policies. When large amounts of negotiations are needed the WTO enters into a “Round.” Each round helps to set a new standard of trade.

The World Trade Organization (WTO) is basically a global international organization which regulates international trade and dealing with the rules of trade between nations. Due to the era of globalization in world trade economy, it leads to the bias toward rich states and multinational corporations harming the smaller countries to have less negotiation power among them. In such case, this assignment will discuss on the historical background of the establishment of WTO, the objectives of the establishment of WTO, the functions on how it works as the international organization. Other than that, this assignment will explain the principles lay down in this agreement, the obligations under the WTO and how many members joined the WTO since the establishment. Besides that, this assignment will elaborate more about the advantages and disadvantages of WTO towards all states members and their relations with the others.

The World Trade Organization implements and facilitates trade between countries. Their aim is to help countries especially developing countries in boosting their trade between countries. They also help in creating agreements between countries that help to encourage trade and make trade easier. They help in settling disputes or problems between member countries anytime it develops. I chose this topic because I wanted to find out the different ways that the WTO has influenced trade especially in emerging developing countries. The WTO has influenced the trade policies and decisions of their member countries, most especially developing countries.

The function of the WTO is to promote international trade liberalization by eliminating trade barriers. It is believed that if countries are freely available to trade there will be more wealth and efficiency as each country will specialize on its forte. However, developed countries want trade barriers in order to protect their economies.

International trade contains two major types of trade, import trade and export trade. These two types of trades can adjust the utilization of domestic factors of production, improve international relations between supply and demand, restructure economies, increase revenue and so on. International trade operates similarly as domestic trade, however, as international trade performs across different countries and regions, it is more complicated than domestic trade. International trade will encounter different policies and legislation conflicts across the borders. As the magnitudes of international quantities and prices are relatively large, with long distance transportation and time consuming, both parties of the transaction have to take on more risks than purely trading domestically. Usually, international trade will be greatly affected by the transaction parties’ political and economical activities, which might increase the unstable possibility. Moreover, international trade involves highly cooperation from banks, customs etc., and lacking of any of those linkages may undermine the effectiveness at a large scale.