World Trade Organization Principles Objectives and Funtions For
World Trade Organization: Principles, Objectives and Funtions For M. A. Political Science, Semester-4 Paper-XIII(International Organisation) Mr. PAWAN KUMAR YADAV Assistant Professor, Department of Political Science, D. A. V. PG. College, Siwan, Jai Prakash University, Chapara
q. Principles: ØTrade without discrimination A. Most-favoured-nation (MFN): treating other people equally B. National treatment: Treating foreigners and locals equally ØFreer trade: gradually, through negotiation ØPredictability: through binding and transparency ØPromoting fair competition ØEncouraging development and economic reform
q. Objectives: ØTo improve the standard of living of people in the member countries. ØTo ensure full employment and broad increase in effective demand. ØTo enlarge production and trade of goods.
ØTo increase the trade of services. ØTo ensure optimum utilization of world resources. ØTo protect the environment. ØTo accept the concept of sustainable development.
q. Functions: ØTo implement rules and provisions related to trade policy review mechanism. ØTo provide a platform to member countries to decide future strategies related to trade and tariff. ØTo provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.
ØTo administer the rules and processes related to dispute settlement. ØTo ensure the optimum use of world resources. ØTo assist international organizations such as, IMF and IBRD for establishing coherence in Universal Economic Policy determination.
Thank You!
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