World Trade Organisation: An Insight into its Contribution and Challenges

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EXCECUTIVE SUMMARY
This report has been prepared to give its readers an insight about the most popular
global institution, World Trade Organisation (WTO) which has been managing international
trade and commerce in between 164 countries. The institution has been able to bring in
economic development in its member countries by promoting sustainable economic
development and alleviation of poverty. The trade agreements made and signed by member
nations are protected under WTO agreements which help its members make their businesses
conduct in efficient and risk-free manner. The practical examples provided in the report will
give strong evidence to its readers about the affirmation of above statement and benefits
WTO has provided to the world trade. This report has also reviewed criticisms and challenges
faced by WTO in its growth path and the way it treats its member nations equally.

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Table of Contents
EXCECUTIVE SUMMARY.................................................................................................1
INTRODUCTION..................................................................................................................1
ANALYSIS AND DISCUSSION..........................................................................................2
CONCLUSION......................................................................................................................9
BIBLIOGRAPHY..................................................................................................................9
APPENDICES......................................................................................................................12
Appendix A.......................................................................................................................12
Appendix B.......................................................................................................................13

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INTRODUCTION
The World Trade Organisation (WTO) is an international organisation that assists
government and nations in facilitating trade of manufactured goods and services that includes
insurance, banking, telecommunication, tourism and many other sectors. WTO is a
replacement of General Agreement on Tariffs and Trade (GATT) and was established in the
year 1995 (World Trade Organization, 2015). The main objective behind formation of WTO
was to provide free flow of trade between countries in a fair manner. The central idea
between its systems promotes settlement of disputes by defining rules and timelines for
settling disputes. Presently there are 164 members of WTO which represents 95% of total
trade worldwide where observers seek getting membership (Howse, 2016).
ANALYSIS AND DISCUSSION
Just after the Second World War many countries became economically depressed
when the allied countries, led by government of US, thought of undertaking a promotional
plan to spread liberal capitalism, enhanced world trade and economic-cooperation. These
ideas were based to promote global and international businesses while preventing them from
getting into global conflicts. GATT and WTO always supported easy flow of trade and they
prove to be very are significant for bringing economic development in countries. Three basic
functions provided by WTO are; removing trade obstacles, hosting negotiations among
member nations and resolve disagreement of interest among member nations. The complexity
and number of problems involved in international trade has often resulted in making the
entire trade process slower than anticipated (Panagariya, n.d.). In last few decades, many
issues have been seen arising in major sectors like agriculture, manufacturing and service