The World Trade Organization

1270 Words 6 Pages
World Trade Organization Different countries and regions of the world have relationships based on global and international trade through trading organizations. World Trade has been a crucial part of the economy and many different programs have tried to find an effective way for free trade to occur. Based on previous programs since 1914, and new goals formed recently, the World Trade Organization has found the most powerful and effective way since 1995 to conduct free trade internationally. The origins of the World Trade Organization were developed based upon previous programs that produced ideas, and many reasons for why it was created. During the Great Depression in the 1930s, there were economic collapses going around the world which …show more content…
The World Trade Organization is an organization created to negotiate reduced trade barriers and resolve disputes among nations through its program. The World Trade Organization facilitates the flow of goods and services worldwide, and it is constructed in the fields of trade, intellectual property, and services (“World Trade Organization” UXL Encyclopedia). The World Trade Organization has many purposes, goals, and principles in order to conduct free trade internationally and most effectively. The Organization wanted to promote trade without discrimination meaning that once the goods are officially on the market, no nation can be treated with less favor. Also another goal was that they aspired to grow access to the markets. The organization wanted to promote fair competition and encourage economic and development reform (Gall and Hobby 337-338). The WTO wants fair agreement in agricultural fields with “farm trade”, with trade in services, and the idea of intellectual property to improve conditions where different ideas were involved. The World Trade Organization has six principles that helps conduct free trade internationally. The organization wanted to make and apply rules for international trade, resolve trade disputes, cooperate with other international trade programs, help developing countries benefit from global trade, better