The WTO at a Glance
The World Trade
Organization (WTO) is one of the most recent examples of
international trade
liberalization. The WTO seeks to lower barriers to
international trade and commerce by multilaterally abolishing tariffs,
standardizing measures and creating greater dialogue. The WTO facilitates the
flow of goods and services among countries and regions world wide.
The WTO attracted attention in 1999 when a Ministerial Conference for world
trade in Seattle
was faced with anti globalization demonstrations. The WTO was accused of being
the main engineer for globalization which has negative impacts on the poor and
it represents the interests of developed countries with no consideration for
the developing and underdeveloped ones. It shows no consideration to health and
environment, besides the accusations that they use the private ownership
agreement for the procurement of genetically modified products. The conference
failed because of the dispute between its members over free agricultural world
trade.
The
organization admits that their eminent agreements don’t cover issues of
workers rights, social programs and cultural diversity. Most of the members
opposed them with the pretext that there are other International organizations
responsible for them such as International Labor Organization.
There is a growing concern over negligence of the Organization to the concerns
of developing and under developing countries over the protection of their
products and industries that can not compete or stand in the face of h those of
the major powers. The organization allows marginal liberty for the governments
of these countries to pass the necessary customs laws against inundation of
their markets. They are also entitled to take preservative measures, such as imposing
extra customs fees on imports to protect their weak or budding industries.
Those countries are supposed to compensate their partners by granting some of
their export commodities access to their markets.
Experts are of the idea that trade liberation has many merits to producers and
very little harm to little producers. It is almost of great use to consumers
who have will access to varied sorts of commodities and services that they can
choose from, having wider chances to choose the qualities and advantages they
like. Liberation will also accelerate economic development in the long and
medium runs, a thing that will lead to social welfare.