World trade organization

Running Head : World Trade Organization

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World trade organization is both forum and code of countries to address discuss and resolve the trade disputes . It ws established in January 1995 . This was after an agreement on Trade and Tariff (GATT ) Uruguay Round Agreement was ratified by the associate governments . Its main aim is to ensure administration of agreed up on regulations among the member countries . World trade organization replaced the general agreement of tariffs and trade as the institutional and legal foundation of the

br multilateral trading system of the member countries . Although World Trade Organization had similar roles with those of GATT , it puts emphasis on the new trade disciplines adopted during the Uruguay Round World trade organization includes all the general agreement on tariffs and trade provisions for transactions in goods , including the new regulations which were adopted in the Uruguay Round , rules that govern the trade in intellectual property and services , and also rules and procedures that govern the settlement of differences and disputes . It acts as the international principle body dealing with multilateral negations on the eradication of trade challenges and barriers and other measures that change competition in trade (Sampson 2001 . At the same time , it acts as a platform for countries to uplift their interests about trading partner 's policies . The World Trade Organization 's basic aim is to ensure liberalization of world trade thus placing it on a secure basis , which in turn contributes to growth and development of economy

World Trade Organization is the only principal international body that manages and regulates the processes of economic globalization . Its effort in ensuring effective fulfillment of this task however , leaves much to be desired . On February 2005 , researchers form the faculty of law in Maastricht University carried out an international research conference which was entitled to in search of effective global economic governance : the World Trade Organization 's case . The conference brought together the world trade organization officials , national trade officials , government diplomats , business association representatives and other several non governmental organizations to handle a wide range of aspects . Some of the issues discussed included : aspects of transparency , possible improvement to and alternatives of consensus decision making in World Trade Organization , democratic legitimacy and the participation of civil society in World Trade Organization decision making , expanded role of the World Trade Organization secretariat and secondary law making by World Trade Organizations

Both science and legal scholars have their research focused on changes needed in transformation of World Trade Organizations in to an instrument of effective global economic governance . The conference mainly aimed on defining a comprehensive research agenda in to the institutional reform of the world trade organization ( HYPERLINK "http /jiel .oxfordjournals .org " http /jiel .oxfordjournals .org

In November 2001 , the world trade organization launched new global trade negotiations at Doha . The discussions covered a wide range of issues including agricultural and non-agricultural industries , official market and services access . The negotiations were known as the Daha Development Agenda where by the...