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The World Trade Organization Essay

1351 words - 5 pages

World Trade Organization
Different countries and regions of the world have relationships based on global and international trade through trading organizations. World Trade has been a crucial part of the economy and many different programs have tried to find an effective way for free trade to occur. Based on previous programs since 1914, and new goals formed recently, the World Trade Organization has found the most powerful and effective way since 1995 to conduct free trade internationally.
The origins of the World Trade Organization were developed based upon previous programs that produced ideas, and many reasons for why it was created. During the Great Depression in the 1930s, there were economic collapses going around the world which is when the ideas of the World Trade Organization arose. Making free trade across national borders easier was the overall goal of the World Trade Organization. In 1947, the GATT, the General Agreement on Tariffs and Trade, began to reduce tariff negotiations among different countries. They set the international trade principals in 1948 which played the only role till 1995 when the World Trade Organization took place (“World Trade Organization (WTO)” Britannica School). The GATT covered merchandise trading goods while the World Trade Organization related to trading aspects of intellectual property. Also the World Trade Organizations dispute settlement system is faster, and stays away from blockages unlike the GATT, which is another reason why the World Trade Organization developed after the GATT (Gall and Hobby 336). The World Trade Organization was a very effective way to conduct free trade internationally, and this program had ideas brought about from previous organizations such as the General Agreement on Tariffs and Trade. The World Trade Organization was developed on January 1st, 1995 as the next international trade program after succeeding the General Agreement on Tariffs and Trade (“World Trade Organization” World History). The World Trade Organization is an organization created to negotiate reduced trade barriers and resolve disputes among nations through its program. The World Trade Organization facilitates the flow of goods and services worldwide, and it is constructed in the fields of trade, intellectual property, and services (“World Trade Organization” UXL Encyclopedia).
The World Trade Organization has many purposes, goals, and principles in order to conduct free trade internationally and most effectively. The Organization wanted to promote trade without discrimination meaning that once the goods are officially on the market, no nation can be treated with less favor. Also another goal was that they aspired to grow access to the markets. The organization wanted to promote fair competition and encourage economic and development reform (Gall and Hobby 337-338). The WTO wants fair agreement in agricultural fields with “farm trade”, with trade in services, and the idea of intellectual property to...

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