World Trade Organization (WTO) in Action in Different Countries

WORLD TRADE ORGANIZATION (WTO) IN ACTION IN DIFFERENT COUNTRIES
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World Trade Organization (WTO) in Action in Different Countries
Introduction
The WTO is an international entity that was established on January 1, 1995. Its inception resulted from the Uruguay Round of multilateral trade negotiations from 1986 to 1994. The WTO aims to facilitate the flow of goods, services, and intellectual property between member countries while promoting fair competition, removing trade barriers, and reducing trade tensions. The foremost objective of the WTO is to develop and offer ease to the member states to discuss and sort out trade accords or differences, if any. It also aims to ensure that trade policies and regulations are transparent and predictable, reducing the risk of trade wars and protectionism (Wolff, 2022). The WTO promotes economic growth, development, and job creation worldwide by encouraging and facilitating trade. The WTO has 164 member countries, speaking for about 98% of world trade. The target countries of the WTO are all countries that participate in international trade. Membership is open to any country that agrees to abide by the organization’s rules and regulations. One of the main agendas of the WTO is to develop free and open trade between member states. The organization has established several agreements covering different trade areas (Soobramanien et al., 2019). These agreements include the General Agreement on Tariffs and Trade (GATT), which regulates the exchange of commodities; the GATS, which governs the business of services; and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which regulates the trade of secretive ornaments. In this essay, I will argue that while the WTO has benefited countries in the Global North, it has also worked to promote countries’ interests in the Global South. The WTO has implemented policies and programs to reduce trade barriers and promote economic growth in developing countries. Additionally, the WTO has played an essential role in providing a forum for governments to negotiate and resolve trade disputes.
Discussion
WTO in Global South and North Countries
The WTO is an international organization that aims to ensure loose trade and economic development among its member countries. It was established in 1995 and currently has 164 member countries. The WTO plays a crucial role in shaping global trade policies and has been the subject of much debate regarding its effectiveness in promoting fair and equitable trade between countries, particularly between the South and North countries. An influential agenda of the WTO is to promote development and economic growth in emergent states. The organization ensures technical support and capacity-enhancement plans to help developing countries participate in the global commerce mechanism. It also grants preferential treatment to these countries by allowing them to protect specific domestic industries and exempting them from certain trade obligations (Schütze, 2018). In recent years, the WTO has also focused on promoting environmental sustainability and addressing the challenges of climate change. The organization has launched several initiatives to reduce carbon emissions and promote clean energy. The WTO promotes global trade, reduces trade tensions, and fosters economic growth and development. Its broad membership and commitment to transparency and fairness make it an essential platform for negotiating trade agreements and resolving disputes.
The WTO has worked to reduce trade barriers and promote economic growth in developing countries. One of the main ways the WTO has achieved this is through its TRIPS agreement. This accord sets out the layout for safeguarding and ensuring secretive asset rights, such as franchises, permits, and copyrights. The TRIPS agreement helps promote innovation and technology transfer, benefiting developing countries looking to grow their economies (Karlas & Parízek, 2019). Another way in which the WTO has enabled economic growth in developing countries is through its association with business initiation. This program provides funding and expert guidance to help struggling countries improve their trade development and build their capacity to participate in international trade. This initiative has been significant for small and vulnerable economies that may lack the resources and expertise to engage in complex international trade negotiations.
In addition to promoting economic growth, the WTO has also played an essential role in providing a forum for countries to discuss and sort out trade differences. The WTO’s dispute settlement system provides a transparent and predictable mechanism for resolving disputes between nations. Both developed, and developing countries have used this system to resolve trade disputes, and it has helped to ensure that governments follow the laws and regulations of the WTO. Moreover, the WTO has also worked to promote fair and equitable trade between nations. One example is the Generalized System of Preferences (GSP) program, which allows developed countries to offer concessionary rates to imports from developing countries (Wolfe, 2021). The GSP program is designed to help developing countries increase their exports and improve their access to markets in developed countries. This program has been crucial for small and vulnerable economies that may face significant trade barriers when exporting their goods.
Furthermore, the WTO has implemented policies to protect developing countries’ interests in international trade negotiations. The WTO’s Special and Differential Treatment (SDT) provisions allow struggling states to take longer to implement certain trade agreements and provide greater flexibility in their trade policies. These provisions recognize that struggling states may face unique challenges in participating in international trade and aim to help level the playing field between developed and struggling states (Voon, 2019). However, it is essential to note that the WTO has also been criticized for perpetuating global economic inequality. Some argue that the WTO’s policies have favored developed countries, particularly in agriculture and intellectual property rights.
Some critics say that the WTO has not addressed labor standards, environmental protection, and human rights in international trade. The WTO is a global entity that directs international businesses between member countries. The WTO has taken various structural actions in the global North and South to regulate international trade and facilitate economic growth. However, the nature of these actions differs significantly between the two regions. In the global North, the WTO has focused on promoting trade liberalization, which involves removing trade barriers such as tariffs and quotas. This has been achieved through various mechanisms, such as the GATT and the TRIPS (Silveira, 2019). These agreements have been highly beneficial for developed countries as they have facilitated the entry of their goods and services into foreign markets, leading to increased trade and economic growth.
On the other hand, in the global South, the WTO has taken a different approach. Instead of promoting trade liberalization, the organization has focused on promoting development through distinctive and optimistic treatment of struggling states. The WTO has recognized that struggling states face unique challenges, such as limited infrastructure, lack of technical expertise, and limited financial resources, making it difficult for them to compete equally with developed nations (Petersmann, 2018). The WTO has provided struggling states preferential treatment in various areas, such as trade negotiations, technical assistance, and capacity-building programs to address these challenges. The organization has also allowed struggling states to implement protectionist plans such as import tariffs and quotas to protect their domestic industries. However, despite the efforts of the WTO, many struggling states continue to face challenges in accessing developed markets due to various non-tariff barriers, such as technical barriers to trade, hygiene and phytosanitary measures, and intellectual property rights. Additionally, some developed countries continue to provide subsidies to their domestic industries, which disadvantages struggling states.
The WTO has worked to promote the benefits of both developed and struggling states in international trade. While the WTO has faced criticism for its policies and practices, it has implemented programs and initiatives to reduce trade barriers, promote economic growth, and offer a mechanism for nations to discuss and fix trade differences (Hoekman, 2020). The WTO’s policies have benefited both countries in the Global North and the Global South, although there is still much work to be done to ensure that global trade is fair and equitable for all countries. The WTO’s structural actions in the global North and South differ significantly. While the organization has promoted trade liberalization in the North, it has focused on promoting development and furthering productive and extensively positive treatment of emergent nations in the South (Hopewell, 2021). However, challenges such as non-tariff barriers and subsidies continue to pose significant challenges for emergent nations, and more needs to be done to address these issues.
Efficacy of WTO Actions in Global North and South States
The WTO has been a central player in developing global trade policy since its establishment in 1995. The organization primarily aims to promote free and fair trade among its member countries. Over the years, the WTO has implemented various policies and taken actions to promote trade liberalization and reduce barriers to work in both the global North and South. The efficacy of these actions in promoting trade and improving the economic well-being of countries in the global North and South has been the subject of considerable debate. One of the central policies implemented by the WTO is the General Agreement on Tariffs and Trade (GATT), which focuses on curbing taxes and other trade barriers among member countries. The GATT has successfully promoted trade liberalization and reduced trade barriers in both the global North and South. According to a 2020 WTO report...