Wto – explain
a.evolution ,
b.five basic principles,
c.its structure ,
d.role in economic development?
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wto explain
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
a.evolution
Evolution of World trade that leads to formulation of WTO. 2. Page 2 Multilateral Trade Agreement. ... Considered to be one of the youngest of International Organizations, theWTO is regarded as a Successor to the GATT agreement that came into being in the after warmth of Second World War.
b.five basic principles,
Five principles are of particular importance in understanding both the pre-1994 GATT and the WTO:
Non-discrimination. It has two major components: the most favoured nation (MFN) rule, and the national treatment policy. ...
Reciprocity. ...
Binding and enforceable commitments. ...
Transparency. ...
Safety values.
c structure
The structure of the WTO. The structure of the WTO is dominated by its highest authority, the Ministerial Conference, composed of representatives of all WTO members, which is required to meet at least every two years and which can take decisions on all matters under any of the multilateral trade agreements
d.role in economic development?
Wto Role In Economic Growth And Poverty Reduction Economics Essay. ... This round is called "Doha Development Agenda" and its central objective is to seek the enhancement of integration between poor countries into world economies for the collective development and reduction in poverty.
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