What its role or job is ? The WTO plays a particularly significant role in the promotion of free international trade.. The goal is to help producers of goods and services, exporters, and importersto organizetheir business. The WTO is different from some other international organizations such as the World Bank and International Monetary Fund. In the WTO, power is not delegated to a board of directors or the organization’s head.
When was it created ? The World Trade Organization (WTO), established on January 1, 1995,The United States and other countries participating in the Uruguay Round of Multilateral Trade Negotiations (1986-1994) called for the formation of the WTO to represent the new trade disciplines adopted during those negotiations.
How many members are in the organization ? 153 members on 23 July 2008 (with dates of membership). Some of the least-developed countries in the WTO are: Angola, Bangladesh, Benin, Chad and Congo , and some of the most developed countries in the world are : United States , United Kingdom, Canada , Japan and France.
Advantages : -Trade can benefit countries economies .It expands the number of available goods and services to businesses and consumers. Trade may increase the competition between the goods and services and reduce the extent of monopolistic pricing WTO lowers trade barriers through negotiation and applies the principle of non-discrimination. The result is reduced costs of production (because imports used in production are cheaper) and reduced prices of finished goods and services, and ultimately a lower cost of living. It provides more choice of products and qualities: It gives consumer more choice and arange of different qualities to choose from.
Disadvantages : The countries must eliminate, at least, sensitive trade barriers. Will have a direct effect, over their economies. The WTO Would Privatize Essential Services , The role of the government is to provide the essential education and entertainment and health care to people , but when the WTO buy it from the government , it will be more expensive to use those services In the WTO meetings , the poor countries are bullied , and they don’t have the right to make the decisions . The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. This means that the rich countries uses the majority of the products , more than the poor countries
Our opinion : Reham I think that the world trade organization is important because it main objective is to assist and establish an economic world that spread the peace and its trying to make the trade free between the countries and solve problems between countries Dana I think the World trade organization, is very good for the rich countries but it is not fair with the poor countries because the wealthiest countries dominate all regulation of the WTO for its benefit ,therefore justice must apply fairly to WTO policy and they should move the politic from all division in order to make poor countries equal with the rich countries, In general WTO is very essential for trade if you took the above consideration . So world trade will be in a miss if the rich countries continue to involve politic in this organization .
Resources : Globalization book http://www.wto.org/english/theWTO_e/whatis_e/tif_e/org1_e.htm http://www.fas.usda.gov/info/factsheets/wto.html http://labspace.open.ac.uk/mod/resource/view.php?id=345408 http://www.globalexchange.org/campaigns/wto/OpposeWTO.htmlhttp://answers.yahoo.com/question/index?qid=20080801125639AAWkD1m
Video about the WTO • http://www.youtube.com/watch?v=pF2Le9ccI9E The world is governed by institutions that are not democratic - the World Bank, the IMF, the WTO. Jose Saramago The WTO has one of the most impressive records in global economic governance, by promoting trade liberalisation and economic development. Anna Lindh