The World Trade Organization WTO

the WTO The world’s standard international trading institution “It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules (contracts)” from WTO’s website “The goal is to help the producers of goods and services, exporters and importers conduct their business, while allowing governments to meet social & environmental objectives”

the WTO Delegates are appointed by their country’s government to represent their national economic interest on the world stage. Its essence is summed up by its core trade agreements: these are negotiated and signed by member countries (and ratified in their national parliaments)

the WTO The agreements are legal and binding and form the groundwork for trade policy and disputes The WTO handle all trade disputes involving member countries and hopefully reduce tensions by making decisions that must be upheld by member countries

the WTO The WTO’s goal is to facilitate a global trading system that makes markets more accessible to countries who feel they are being excluded from the international arena WTO has legislative (make laws) and judicial (enforce them) power to challenge laws or policies of a member country if it feels that they are too restrictive or that they don’t conform to the rules of the WTO