Role and Function of World Trade Organization in International Business

Individual academic report

Executive Summary
Business is initiated with an aim to earn higher profit margin. There are several
organizations are working within different countries that play crucial role in overall development
and growth of economy. Here, World trade organization is an autonomous body that is working
at global level for enhancement of international trade and practice within different countries. It is
also responsible to prepare appropriate policies, rules, regulations in order to manage business in
an effective manner. There are several functions performed by organization to attain predefined
objectives. There are ample of challenges also faced by WTO while performing different
functions for betterment of international trade. So, it is really essential for authorities of entity to
manage different functions of organization in significant manner.

Table of Contents
INTRODUCTION.......................................................................................................................................4
Literature review.....................................................................................................................................4
Analysis and Discussion..........................................................................................................................7
Discuss the motivations behind the formation of World trade organization............................................7
Function of World trade organization......................................................................................................8
Analyze the suitability of WTO and challenged faced by organization in achieving its aims of trade
enhancement between different countries................................................................................................9
Evaluate the effectiveness of WTO with relevant example along with the impact of its policies over
specific organization and industries.......................................................................................................10
CONCLUSION.........................................................................................................................................11
REFRENCES............................................................................................................................................12

INTRODUCTION
There are several organizations are working in different countries at global level that are
managed as well as controlled by world trade organization. Here, WTO is a global a body that
formulated rules and regulations of trade between different nations. It controls Imports and
exports between different countries at global level. It was founded in 1995 and headquartered in
Geneva Switzerland (Suttle, 2017). It deals with regulations, compliances of trade in services,
goods and well as intellectual properties and also provides a framework to different nations for
negotiation on trade agreement. In addition, WTO is considered as the largest economic
organization across the world. It was formulated as the replacement of General Agreement on
Tariffs and Trade (GATT) and currently operating at global level as an autonomous body. The
current report discuss regarding the role, function of WTO in the enhancement of business. It
also comprises a detailed overview regarding the previous studies on the topic. Further, reasons
to establish the organization along with its functions, challenges are also discussed in the present
report. Further, the impact of WTO over business entities at global level also discussed in the
following report.
Literature review
According to McGovern, (2018), it is analyzed that WTO is an international organization
that has been initiated in order to bring liberalization in global trade. Main aim is to maintain
remarkable trade relationship between different nations in order to facilitate international
business. Previously, there were GATT organization which regulates business and determine
necessary rules and regulations of trade. It was not proved successful in terms of managing
international trade and the disputes between different countries. In addition, there were several
restrictions over business that also restricts overall growth of organizations within country. So, it
is really essential to establish such an organization that is more liberalize and able to promote
international business in significant manner. Therefore, WTO is initiated in the year of 1995 that
also facilitate trade of services as well as intellectual properties between different nations. The
aim of this organization is to improve transparency of decision making, resolve trade disputes,