World Trade Organization

What is WTO? * The World Trade Organization (WTO) is the alone body making global mint rules with binding effects on its Members. It is non only an institution, but also a set of agreements. The WTO regime is kn feature as the rules-based multilateral trading system. * WTO agreements are negotiated and write by the trading nations and ratified in their parliaments. * To improve the social upbeat of the peoples of the member countries * Before the establishment of WTO there was GATT which was established in 1948. It had 75 member countries plus some European countries. * The plentifulness for WTO was because the GATT members concluded that the GATT system was failing to adapt to a new(a) globalizing  origination economy. Members 153 member countries Major WTO functions. 1. Administering WTO change agreements 2.Forum for trade negotiations 3.Handling trade disputes 4. Monitoring national trade policies 5.Technical supporter and tuition for developing countries 6. Cooperation with other international organizations. GATT and WTO difference 1 The WTO provides a permanent institutional framework for the multilateral trading system.

2 In addition, the WTO not only covers trade in strongs, as the GATT rules did, but also trade in services and trade-related aspects of surefooted property rights. 3 The dispute settlement mechanism has been good strengthened in the WTO. The GATT was a set of rules, with no institutional foundation, 4 applied on a provisional basis. The WTO is a permanent institution with a permanent framework and its pro fess secretariat. 5 The WTO dispute settleme! nt system has specific circular limits and is therefore faster than the GATT system; it operates more. Pakistan and WTO 1 On the outgrowth side, Pakistan has been rationalizing its tariff structure to a large extent beneath the trade liberalization principle as envisaged by WTO. 2 The complete integration of all textile and clothing products into the forsake trade environment under the Agreement...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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