In five pages this paper examines how the World Trade Organization developed as a result of the GATT treaty and also discusses the current role the WTO plays. Eight sources are listed in the bibliography.
Name of Research Paper File: TS14_TEwtopol.rtf
Unformatted Sample Text from the Research Paper:
and regulations. It is therefore logical that there should be an organisation whose primary task is to facility global trade, helping the reduce the barriers and mediate and negotiate so
that trade is simpler and more effective. The body that undertakes this is the World Trade Organisation. This organisation came into being less than a decade ago, taking over from
GATT (The General Agreement on Tariffs and Trade). This relatively young organisation may be seen as one of the youngest of the international institutions, however, the system that it operates
under was also set up under the former GATT (WTO, 2002). GATT was established after the Second World War, in 1948, and
has seen the levels of trade increase whilst it has worked to decrease trade tariffs, as well as in the later years developing non dumping codes, such as at Kennedy
1962 - 67 and Tokyo 1973 - 79 (Anonymous, 2002). The success of the organisation may be seen in the increasing membership
as well as the increasing trade, Initially brought abut as a way of increasing international stability after two major wars, the organisation has grown in both size and areas of
responsibility. The average annual growth of the merchandise exports over the following fifty years has averaged 6% each year, the result is
that in the year 2000, the level of trade was twenty two times greater than in 1950 (WTO, 2002). The system that
was developed by GATT, and taken over by the World Trade Organisation (WTO), was developed after long negotiations, these take place at regular intervals. The first rounds resulted in substantial