The World Trade Organisation was formed in 1994 to replace
the General Agreement on Tariffs and Trade (GATT),
which was signed in 1948. More than 140 countries belong to
the WTO.
Advantages and disadvantages
Advantages
– the main
advantages of the WTO are seen as ...
Disadvantages
– against
this, some people think ...
It helps trade to flow smoothly.
It deals with disputes over trade.
Decisions in the WTO are made by consensus and the agreements
apply to everyone.
All countries can appeal against decisions which they
feel are unfair. This system has the potential to protect
developing countries from harsh measures and unfair rules.
The rules are not fair.
The rules are too complex. Poorer countries cannot afford
to pay specialists, lawyers and other support staff to
help them to interpret or challenge them.
Poorer countries cannot afford to attend meetings.
The WTO has too much power compared with other international
organisations. The decisions that it makes take precedence
over agreements on the environment and international law,
for example.
How it works
The
World Trade Organisation makes rules about international
trade.
