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World trade organisation
1. Historical context:

The World Trade Organization (WTO) is an international body whose
purpose is to promote free trade by persuading countries to abolish
import tariffs and other barriers. As such, it has become closely
associated with globalisation. Also, it is an international non-profit
organization regulating trade…

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The idea behind the WTO is to make trade easier. When you join the WTO, all
other members are supposed to treat you equally. You're not supposed to have
tariffs, block goods coming in from another WTO member. You have free trade
with them.

If there's some sort of dispute…

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It oversees the implementation, administration and operation of the
covered agreements.
It provides a forum for negotiations and for settling disputes.
It is the WTO's duty to review and spread the national trade policies, and
to ensure the coherence and transparency of trade policies through
surveillance in global economic policy-making.…

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developing country Members are certain once again to be at the top of
WTO's agenda.
4. Successes and advantages of the organisation:
WTO has been very successful in lowering tariffs, especially in textiles.
Advantages of world trade organisation:
World Trade Organization helps member states in various ways and this enables…

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increasing confidence in the future and this in turn means more job opportunities
and better goods and services for consumers.
Governments are shielded from lobbying: WTO system shields the
government from narrow interest. Government is better placed to defend
themselves against lobbying from narrow interest groups by focusing on

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1. Free Trade benefits developed countries more than developing countries.
It is argued, developing countries need some trade protection to be able to
develop new industries. The WTO has sought to maintain the same rules for
developing countries preventing them from protecting new industries. (This is
known as the infant…

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