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The World Trade Organization (Wto)

In: Business and Management

Submitted By kapustka
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Introduction
1. The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. The WTO has 153 members, representing more than 97% of total world trade and 30 observers, most seeking membership. The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

2) Belarus expressed its wish to participate in the WTO and there are 9 main reasons why it will have positive influence on the country:
1. economy opening and it’s liberalization. More competition means price decreasing, range of goods expansion, and fast vanishing of ineffective projects.
2. access to cheaper import resources that will lead to increasing of the real sector competitiveness.
3. an opportunity to protect belorussian exporters outside the country
4. protection against anti-dumping persecution that will help to achieve a status of market economy.
5. increasing of law stability in trade that will influence an investment climate well.
6. taking part in making new international trade rules taking into account bel.interests.
7. Belarus has to prepare for creating close relations with EU and wto makes it easier
8. stimulus for attracting foreign investors
9. belorussian producers presence on foreign markets. More transnational companies will operate in the country more our interests will be protected among international organizations.

How to become a member of the WTO
Article XII of the WTO Agreement states that accession to…...

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