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Public International Trade Laws - Report Example

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The paper "Public International Trade Laws" discusses the World Trade Organization's role, principles to the WTO trade agreements, which guide the operations of the organization, overview of WTO agreements, the dispute settlement by the World Trade Organization. …
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Public International Trade Laws
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Download file to see previous pages The same platform can be used to settle disputes in regard to trade agreements. The underlying principle of the WTO is negotiations. According to the WTO rules, negotiation is important when it comes to solving world problems. Delegates from the disputing countries are given the opportunity to face each other and talk about the issues between them. Most of the work that is undertaken by the organization is based on agreements that were established by a previous body known as 2General Agreement on Tariffs and Trade (GATT).
In some scenarios where certain have had issues with certain trade barriers, the negotiations have been fruitful and these trade barriers have been lowered. This however does not only limit the functions of WTO to negotiations between countries. They also try to protect the interests of consumers in regard to trade agreements. Most of the documents that provide the framework for international commerce are signed and negotiated under close supervision by the World trade organization. Basically, these are contracts that ensure that governments maintain their limits in terms of trading agreements3. The WTO considered the governments to have the best interests of their citizens at hand. The citizens are the major stakeholders and these include the service producers and goods, importers, and exporters of business. When the stakeholders are satisfied, the government is left with its duty to meet its various objectives.
The organization has the function of ensuring that trade around the world flows smoothly. This is so long as there aren’t any side effects that may hinder the well-being of individuals and global economic development. The organization removes any obstacles that might restrict trade while giving organizations and governments the surety that trading policies around the globe are stable. It is the duty of the organization. ...Download file to see next pagesRead More
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