The Trade Organization ( Wto )

The World Trade Organization, or WTO, was established to grow the global economy and assure its success and safety. The WTO derived from the General Agreement of Tariffs and Trades, or the GATT. The GATT was established in 1948 in order to restore the destroyed global economy after the war. The world needed a united organization

The World Trade Organization (WTO) is an international organization whom oversees international trade. The WTO was created in January of 1995. "WTO deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the majority of the world's trading nations and ratified in their parliaments" (http://2012books.lardbucket.org/books/global-strategy/s13-02-regulation-of-international-tr.html). The WTO has 153 members, representing more than 95% of total world trade. The WTO is governed by a Ministerial Conference, headquartered in Switzerland. They implement the conference's policy decisions and is responsible for day-to-day administration. There role is to oversee nondiscrimination, reciprocity, binding commitment, transparency, and the safety between it's member

NAFTA (North American Free Trade Agreement) was formed in 1994 and created one of the world’s largest free trade zones which includes Mexico, United States and Canada. NAFTA is an example of a multilateral approach to free trade. The multilateral approach states that a country will bargain with its trading partners to remove trade restrictions while the other countries do the same. Another multilateral approach is GATT (General Agreement on Tariffs and Trade) which regulates international trade. GATT is comprised of representatives of all WTO member countries. The WTO (World Trade Organization) was established January 1, 1995 and is headquartered in Geneva Switzerland. As of November 2015 there were one hundred sixty-two countries that were members.

Even dating back to times of Aristotle there has always been some form of trade and along with trade came rules and regulations. In the time of Aristotle trading took place on a smaller scale and between people much like bartering. In the modern world trade is what makes the world function on a broader and larger scale. We have become globalized as a world and we now are engaged in free trade, among many countries. There still needs to be regulations for each individual country and for trade in general. For the past century the GATT (General Agreement on Tariffs and Trade) has been the one to deal with issues that would arise, between countries. The GATT wrote

In the 1940’s several organizations were created to help manage and regulate the global market place: The General Agreement on Tariffs and Trade (GATT); later the World Trade Organization (WTO); International Monetary Fund (IMF); and the World Bank.

However, as the dependence on trade for economic growth increased so did tension and disagreements among industrialized nations. The term strategic trade policy became synonymous with a nations efforts to increase exports and block foreign access to domestic markets (Dillman 136). The Uruguay round of GATT (1986-1993) helped get rid of some of these problems and in it’s final agreement launched the World Trade Organization (WTO).

The GATT’s main function was not to resolve trade disputes, which is different from WTO, but rather to provide a set of rules that countries could at least publicly declared that they follow, therefore giving all signatories to the agreement

The postwar era brought about a more multinational approach to dealing with trade issues, most notably in the establishment of the General Agreement on Tariffs and Trade (GATT) in 1948. Although there were high hopes that international labor standards could be established, the GATT made only vague references to the issue, and no concrete and enforceable standards were established. Thus, there was no provision for member states to take action against other members who

The World Trade Organization (WTO) was established and incorporated in January 1st 1995 at the amendment of the General Agreement on Tariff and Trade (GATT) in 1994 with the aim of regulating international trade. The creation of this organization clearly underscored the acceptance and commitment of trade liberalization by most of the international communities. Upon signing and ratifying the WTO

The United States has formally maintained diplomatic relations with the European community since 1947 when the US and many European states were founding signers of the General Agreement on Tariffs and Trade (GATT). The agreement was designed to provide an international forum that encouraged free trade between member states by regulating and reducing tariffs on traded goods and by providing a common mechanism for resolving trade disputes. The WTO replaced GATT as the organization overseeing the multilateral trading system in 1994, and now consists of 144 member states.

The World Trade Organisation (WTO) is regarded as one of the key institutions of global governance in the international political economy and is made up of 160 member states (Williams & Ford, 2007, p. 268). The establishment of the WTO in 1995 was an attempt to transform the institutional setting of world

This crash of the market led to liberalized views on cross border trading among countries. Countries started to regulate severe restrictions on trading, which led to other countries doing the same, eventually becoming a repetitive cycle. After the crash of the market, “International Monetary Fund was developed to enhance financial stability and International Trade Organization was developed to regulate trade (Stiglitz, 2006)”. The United States declined the idea of the International Trade Organization because the creation of it would promote strict regulations. These regulations would result in fewer benefits compared to what they were already receiving. Years later, the World Trade Organization came into existence. Before the creation of the World Trade Organization, GATT was used to reduce tariffs on manufactured goods and regulate trades occurring among the members of this agreement. “This agreement was solely based for the countries that were members of it but restrictive to those who were not. This agreement was proven to be beneficial for advanced industrial countries as it gave them the comparative edge by lowering the tariffs (Stiglitz, 2006)”. This agreement was not beneficial for developing countries, but allowed the developed countries to trade more easily with them. The Uruguay round development was more focused on trade liberalization and expanding the markets. The EU and US

     The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The World Trade Organization came into being in 1995. One of the youngest of the international organizations, the WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. The World Trade Organization exists to ensure that trade between nations flows as smoothly, predictably and freely as possible. It provides and regulates the legal issues which governs world trade now .

The World Trade Organization is an international organization that regulates trade between countries. Its main focus is to ensure that international trade is efficient and safe. WTO is the successor for General Agreement on Tariffs and Trade (GATT). At the end of World War II and after procession of trade negotiations, an aimed reduced tariffs for facilitation of global trade on goods and services. The motivation of GATT was established on the basis of Most Favoured Nation (MFN), this gives privilege to other countries from time to time for good trade. GATT gave opportunity of MFN to every country with time so that no one gets over another.

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986-1994).