Wto And Its Influence On Trade

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NNEOMA NWOBILOR ECON 430 001 THE WTO AND ITS INFLUENCE ON TRADE IN DEVELOPING COUNTRIES 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. I believe…show more content…
According to an article called Developing Countries and the WTO which was edited by Gary P. Sampson and W. Bradnee Chambers, they talk about the WTO, its aim and their main functions. They start by saying that “The goal of a world trading system centered on the World Trade Organization (WTO) is for multilaterally agreed law, coupled with the progressive liberalization of trade, to the basis for international trade relations” (Sampson, Chambers). This basically sums up the aim of the WTO, they are in charge of creating free and fair trade and making sure that each and every country is being treated well, both those countries that are big in the trade market and those that are small, there is also no discrimination and each and every rule and regulation created is accepted by all the members of the WTO. One of the problems that have been encountered is the high tariffs that are being put on goods that are imported from other countries. The article mentions that “because of high tariffs on many products, a compromise agreement with the exclusions sought for “sensitive” and “special” farm products would significantly decrease the gains from reform” (Sampson, Chambers). The article also talks about how the four African countries namely, Chad, Benin, Burkina Faso and Mali use cotton as their main means of export, the importance of this trade and also how the market price for cotton is reducing and this might become a problem for
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