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World Trade Organisations - Essay Example

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Summary to essay on topic "World Trade Organisations"
The WTO to a great extent deals with the rules of trade between nations and this is both at a global as well as near – global level. The world trade organizations…
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Download file "World Trade Organisations" to see previous pages... The WTO aims mainly at providing assistance for the producers of goods and services, exporters and also importers for basically conducting their businesses effectively (WTO, 2010).
Applying to the WTO for a trade dispute is based in a series of steps. These include, firstly, becoming a member of the WTO,
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following which the first stage includes the consultation which lasts for almost 60 days. Here the aim is to identify if the parties are able to find a solution between themselves and all the implementation of the rulings and recommendations are constantly monitored by the WTO (UNDERSTANDING THE WTO, 2010). Post this stage of the application, the panel is introduced to the parties and the Dispute Settlement Body. Here this groups work toward providing the final ruling or recommendations to the two countries.
The types of cases and disputes that are introduced in the WTO for solutions are very varied and come from various backgrounds. Of these one of the most famous cases of a trade dispute was that of the Caribbean bananas which was initiated in September 1997 and went on to become a world famous case. The case was initiated by the US government on behalf of a US based brand - Chiquita Brands against the Europes Lomé Convention which gave preference to the small banana producers and provided a chance for exports to across the world (Costantini, 2001).
Here in this case the ruling of the WTO was to ensure that no discrimination is made based on the where or how the food was produced and also no discrimination based on how the food was created. The ruling led to an impact on the European Unions and the trade agreements with the African Caribbean and Pacific countries (Costantini, 2001).
As explained by the WTO in the list of its cases, the outcome for the case was as follows, “The U.S. and E.U. reached an agreement to begin to dismantle the barriers to ...Download file "World Trade Organisations" to see next pagesRead More
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