The WTO aims mainly at providing assistance for the producers of goods and services, exporters and also importers for basically conducting their businesses effectively (WTO, 2010).
Applying to the WTO for a trade dispute is based in a series of steps. These include, firstly, becoming a member of the WTO, following which the first stage includes the consultation which lasts for almost 60 days. Here the aim is to identify if the parties are able to find a solution between themselves and all the implementation of the rulings and recommendations are constantly monitored by the WTO (UNDERSTANDING THE WTO, 2010). Post this stage of the application, the panel is introduced to the parties and the Dispute Settlement Body. Here this groups work toward providing the final ruling or recommendations to the two countries.
The types of cases and disputes that are introduced in the WTO for solutions are very varied and come from various backgrounds. Of these one of the most famous cases of a trade dispute was that of the Caribbean bananas which was initiated in September 1997 and went on to become a world famous case. The case was initiated by the US government on behalf of a US based brand - Chiquita Brands against the Europes Lomé Convention which gave preference to the small banana producers and provided a chance for exports to across the world (Costantini, 2001).
Here in this case the ruling of the WTO was to ensure that no discrimination is made based on the where or how the food was produced and also no discrimination based on how the food was created. The ruling led to an impact on the European Unions and the trade agreements with the African Caribbean and Pacific countries (Costantini, 2001).
As explained by the WTO in the list of its cases, the outcome for the case was as follows, “The U.S. and E.U. reached an agreement to begin to dismantle the barriers to ...
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(World Trade Organisations Essay Example | Topics and Well Written Essays - 750 Words)
“World Trade Organisations Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/miscellaneous/406515-world-trade-organisations.
‘The World Trade Organisation (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) “was mainly established to promote international commerce without any barriers. It has been estimated that both the GATT and WTO have encouraged international trade and it has increased world imports about US3 trillion in 2000 alone or by about 44% It is claimed that WTO has been successful in trimming down the barriers to trade and especially in clothing ,textiles, and agricultural sectors .
World Trade Organization.The World Trade Organization is one of the relatively younger world organizations that exist to help regulate the international business community. Formally created on January 1, 1995 based upon the dictates of the Marakesh Agreement, the organization replaced the then existing General Agreements on Tariffs and Trade which was created in 1948.
Why do they peruse government tariffs and how do they justify, highlighting what they done and why for this case study, looking also at the strengths).
Key issues highlighted by the case study are the various Governments' interest in the economy of the country and its relation to the health of the private and governmental organizations, how the government supports the organisations particularly the civil aviation industry in developing new technologies and giving sops as an encouragement to this industry.
In a struggle to outperform each other organisations do not only design a good strategy but also keep an eye on the strategies of their competitors. The saga of competition in the globalisation is like a language game that legitimises present exercise of organisations.
But the question is whether to limit the meaning of that word to such a narrow definition. A company like any other entity exists in the society and is related in some way to its customers, suppliers, the society and the citizens, other organizations and the government.
Yet there are many who question the viability of the dispute settlement system of the WTO.
While the leading superpowers of trade, the United States and Europe, struggle over questions of a seemingly intractable nature, the poorer nations find it difficult to find the financial means to come to the podium to be heard.
Much have been written about the factors contributing to the marked growth of trade between the years 1955 and 2004. Several factors have been mentioned and speculated to have contributed to such growth.
However, I personally believe that the four factors that may have contributed to the growth in merchandise in world trade between 1955 and 2004 are the following, but not necessarily in order: 1) the advent of and significantly rapid advances in information technology; 2) the reduction of, or, in some cases, elimination of, tariffs; 3) the rise in income cost; and, 4) the fall in transporters.
This paper provides an understanding of the WTO (World Trade Organization) system and its implications to government policies and international business. The issues examined include scope and definition of investment, transparency, non-discrimination, settlement of disputes and balance of payment safeguard.
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