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International Business - Assignment Example

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The World Trade Organization (WTO) is said to be the only legislative body after GATT that works between countries forming trade ties in order to help importers exporters, etc. These negotiations are carried out between various countries and are called trade agreements.
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International Business
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International Business

Download file to see previous pages... A meeting is held between the members of World Trade Organization once in every two years. It has a general council which makes sure that the conference’s decisions are being implemented to its fullest. The headquarters of World Trade Organization is located in Geneva, Switzerland. Wallach, (2004, pp. 69-87)
The World Trade Organization has been working on a Doha Development Agenda also known as the Doha Round. This negotiation started in 2001 which is being done in order to treat poorer countries in an equitable manner and not to give undue benefit to richer countries. However, a World Trade Organization has not been able to reach on to a decision as because there are countries which have a different opinion on the matter. There is a disagreement between exporters of the agricultural commodities and countries which have a large number of farmers so as to protect the farmers from surges in imports.
Maintaining peace is the top priority of World Trade Organization. World Trade Organization makes sure that the trade between the countries takes place smoothly and there are healthy and professional relationships being created in the process. As far as free trade and sales is concerned, World Trade Organization plays the role of a middleman between the countries responsible for building confidence in the concept of free trade. Had there been a dispute, both sides would lose. It helps countries reach a consensus in their decisions after negotiations. Bossche, (2008)
When two super powers are trying to have a consensus although they are not on the same wavelength, then disputes arise. World Trade Organization helps solving disputes like these in a constructive manner. The World Trade Organization has a set of rules which the countries are bound to follow in order to avoid these disputes.
It is said that the weaker counties try to enjoy more bargaining power as they are the deprived ones among the other countries; however, the World Trade ...Download file to see next pagesRead More
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