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The World Trade Organization - Essay Example

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However, it is evident that a section of member states have failed to have consensus on several issues in some instances. This paper will give an account to this fact and give the rationale for WTO as an efficient and…
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The World Trade Organization
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The World Trade Organization

Download file to see previous pages... There were a number of complains from the developing countries concerning their obligation under the last trade round and their difficulties with WTO in regard to its bargaining structure. These countries were concerned about Uruguay Round’s single undertaking, arguing that this could have acted as wheedle of reluctant countries into the consensus (WTO NEWS, 1998). This led to a split between large developed nations particularly the U.S and Europe and the large developing nations particularly India and china (Levy, 2010). This was also noted to have influenced other 153 members of the WTO in deciding which side to favor.
The greatest success of the WTO process was when there was consensus at the WTO’s ministerial conference in Singapore on labor standards. Although either side had held very strong positions, later, there was a clear and strong consensus. The members were committed to adhere to labor standards. The best of it was that it was internationally agreed and that such standards should not question the comparative advantage of countries. This is an indication that WTO has been successful in multilateral approaches in social fields.
WTO can be argued to be an efficient and effective system global trade. WTO has so far been able to enhance the value and quality of trade (Hoekman, et al. 2009). This should be the primary purpose of such a body. WTO has also eradicated trade and non trade barriers, broadened the trade governance scope, among many other achievements. Therefore, although some challenges comes in the process of making international trade efficient and effective, it is evident that if member states commit themselves to harmoniously work together, WTO can be a vehicle to ride on.
WTO NEWS, 1998 press releases. “The Coming Challenge: Global Sustainable Development for the 21st Century”. Retrieved on 18th July 2012 from: ...Download file to see next pagesRead More
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