World trade organization

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Universidad del Valle de México
Campus Guadalajara Sur

The WTO (World Trade Organization) provides a forum for the various agreements and negotiations that reduce the barriers to InternationalTrade by ensuring equality for all exporters and importers assisting the economic development of countries, providing a legal framework for monitoring and enforcement of these agreements, as in theconflicts that might arise with the interpretation and application. Supported by a council integrated by 700 officials led by a general director.

The WTO agreements are lengthy and complex because theyare legal texts that cover a wide variety of activities such as agriculture, textiles, banking, telecommunications, government, industrial standards and product safety, regulations on foodsanitation, intellectual property and much more topics.

They are essentially contracts that force governments to keep their trade policies within agreed limits. Although negotiated and signed by governments,the goal is to help producers of goods and services, the exporters and importers to execute their activities, while allowing governments to achieve social and environmental objectives.

It alsomeans ensuring that individuals, companies and governments know which are the rules that steers trade across the world, giving them the security that policies won’t be sudden changes.

This council hasan office in Geneva (Switzerland) and has an annual budget of approximately 180 million dollars. The WTO now has 153 members, of whom 117 are different countries or customs territories in developmentand its official languages are Spanish, French and English.

Conclusion

The main objectives of the WTO is the opening of all borders, guaranteeing the principle of most favored nation,non-discriminatory treatment of members, a commitment to transparency in its activities, the tightness of domestic markets to international trade promote and encourage sustainable development.
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