What is the mission of the World Trade Organization (WTO)?
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What is the mission of the World Trade Organization (WTO)? How does the WTO function as a facilitator to global trade? What would happen in the global economy if the WTO did not exist?
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Answer:
The mission of the World Trade Organization(WTO) is to put in place a multi-lateral trading system that is transparent and equitable to all partners. The WTO coordinates the formulation and administration of mult-lateral trade agreements and ipso facto acts as a facilitator to global trade. Regional and bi-lateral trade agreements will take pre-eminence in the absence of WTO which is more concerned with globalization and multi-lateral trade issues.
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Other answers
The World Trade Organization deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the bulk of the world's trading nations and ratified in their parliaments.
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The World Trade Organization deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the bulk of the world's trading nations and ratified in their parliaments. Most of the WTO's current work comes from the 1986-94 negotiations called the Uruguay Round, and earlier negotiations under the GATT. The organization is currently the host to new negotiations, under the Doha Development Agenda (DDA) launched in 2001.
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