Wto As An International Institution - 1561 Words

However, WTO as an international institution is still a good idea. WTO seems to be important for developing economies in some reasons. First, as the weaker part in organizations, developing countries benefited from unilateral trade actions of United States and Europe. Second, WTO help developing countries to advance agriculture liberalization. As we know that agriculture is the most important thing for developing economies to raise its economy and reach more gain from trade. Third, the new open sectors in specific sectors like tourism also help developing countries to create more job opportunities. This means that developing countries still gain from joining the WTO as long as they perceived differentiated treatment to implement new trade disciplines due to their level of development. If there was no WTO, disputes or even cold war would be come up. As we cannot imagine the world without WTO or rules of free trade, I suggest that global economy is much worse than todays. The hopes from international trade is provision of such unavailable products in home economies. To fix this matters, taking consideration on reforming the WTO is a must, the problems lies on WTO frameworks, its role/mandates also its power. ï  ¶ CRITICAL ANALYSIS OF DOHA ROUND BETWEEN DEVELOPED COUNTRIES AND DEVELOPING COUNTRIES The credibility of multilateral trading system seem to be asked if WTO failed to provide a comprehensive negotiations to deal with across issues and sector (Schott, 2000). The effortShow MoreRelatedThe World Trade Organization Essay1690 Words   |  7 PagesThe key multilateral economic institutions provide financial support though grants and loans as a way to enable economic and social development to occur in developing countries. The three main institutions i will be talking about include the World Bank, International Monetary Fund and the World Trade Organisation. 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