PROJECT REPORT ON “WORLD TRADE ORGANIZATION

8/13/2019 PROJECT REPORT ON WORLD TRADE ORGANIZATION

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PROJECT REPORT

ON

WORLD TRADE ORGANIZATION


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PROJECT REPORT

International usinessBUS 301

PREPARED FORSYEDA ROWNAK AFZA

SENIOR LECTURER, BBS

PREPARED BY

MD. MEHEDI HASAN (07304051)

RAJIB ROY (07304012)

MARZANA MOSLEM MOULI (07304087)

NAZMUS SAKIB (07304004)

HUMAIRA NAZIA (07204013)

NAFIS AHMED (07204018)

SUBMISSION DATE- 22NDNOV, 2010


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Letter of Transmittal

November 22, 2010

Syeda Rownak Afza

Senior Lecturer

BUS- 301

International Business

BRAC Business School

BRAC University.

Subject: Submission of Project Report

Dear Madam,

With great pleasure we are submitting our report on WORLD TRADE ORGANIZATION

(WTO) that you have assigned to us as an important requirement of this course. We have foundthe study to be quite interesting, beneficial & insightful. We have tried our level best to prepare

an effective & creditable report.

The report contains a detailed study on WTO and a look at how it is practiced its riles

and regulation in the practical world. Here we have gathered information basically

through websites.

We honestly hope that our report work will help to give idea of WTO in the real world and you

will find this report worth all the labor we have put in it.

We welcome your entire query & take pride to answer them.

Thanking You.


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With best regards,

MD. MEHEDI HASAN (07304051) ------------------------------

RAJIB ROY (07304012) ------------------------------

MARZANA MOSLEM MOULI (07304087) ------------------------------

NAZMUS SAKIB (07304004) ------------------------------

HUMAIRA NAZIA (07204013) ------------------------------

NAFIS AHMED (07204018) ------------------------------


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Acknowledgement

First of all, we would like to thank our Course Instructor Syeda Rownak Afza for giving us such

superlative opportunity to work on this topic of WTO. We are very thankful to her for devoting

her precious time and knowledge to help us correctly prepare this report. We are also grateful

for her assistance and clear instructions, which helped us a lot in preparing ourreport.

Undoubtedly, this assignment would help us in future, thus preparing this report has given us a

great moral boost and confidence.


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Table of Contents

Topic Page No.

Chapter-01: Preparatory Parts

Methodology of the report

Limitations of the report

2

Chapter-02: Organization Overview (WTO)

Introduction

History

Objectives of WTO

Member Countries

Activities/Contribution

Criticism

A Case Where WTO is Involved

Conclusion

4- 19

Chapter-03:

Bibliography20


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Executive Summary

WTO, the flagship organization, is holding the strong leadership position in the current

business world since 1995 and is now on its way to becoming a high performance global player.

Today, the world has become global with concern about the issue of competitiveness,

globalization, falling trade barriers, computerization, automation, ethical behavior, and work

force diversity with international business strategy. Worlds interest has shifted to use efficient

approaches for business and trade activities and WTO gets most importance in this sector.

World Trade Organization (WTO) is an international body whose purpose is to promote free trade by

persuading countries to abolish import tariffs and other barriers. As such, it has become closely

associated with globalization. the World Trade Organization (WTO), came into being, resulting

from the lengthy, extensive and complex Uruguay Round trade negotiation in the context of

General Agreement on Tariffs and Trade (GATT). Basically the end of the UR resulted in the

formation of the WTO. Their activities help to promote peace and Provides more choice of

products and qualities. Disputes are handled constructively Free trade cuts the costs of living and

raises incomes. Though they face some criticisms and their advances should be more significant

but still they are moving ahead on the track to achieve their goals.
http://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=general%20agreement%20on%20tariffs&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDYQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=general%20agreement%20on%20tariffs&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDYQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAg


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CHAPTER- 01:

Preparatory Parts


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Methodology

The methods that we have used in preparing this report were basically Secondary Data basis. Through

searching websites with different links, we collected information about WTO and its application. Finally,

we put together all the data, analyzed them and prepared this project report.

Limitation

As we got the opportunity to work on this report within very short time, so it was a little bit tough to get

the finest image about the WTO.


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CHAPTER- 02:

Organization Overview (WTO)


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Introduction

International Business is one of the important fields of study now a day. In business world rate of

profit and success depend on trade strategies and systems. The World Trade Organization

(WTO) is the only global international organization dealing with the rules of trade between

nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the worlds

trading nations and ratified in their parliaments. The goal is to help producers of goods and

services, exporters, and importers conduct their business. WTO gives a better view of the overall

strategies they are following and plan to implement more in future. We are assigned to make a

report on WTO and here we are going to include the objectives, activities, criticism, case study

and some opinions about WTO. Now the World Trade Organization (WTO) is an international

body whose purpose is to promote free trade by persuading countries to abolish import tariffs

and other barriers. As such, it has become closely associated with globalization.


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History of WTO

Over the past 60 years, WTOs predecessor organization. the GATT, has helped to create a

strong and prosperous international trading system, thereby contributing to unprecedented global

economic growth. Under the GATT and WTO, there have been several "Rounds" of trade negotiations,

and several battles as well-but following established rules-when disputes could not be settled peacefully.

Perhaps the most notable of these "Rounds" was the Kennedy Round of Trade Negotiations, wherein

American tariffs were slashed approximately 35% across the board, without demanding reciprocity from

other nations--unilateral. However, over time, the nature and character of global trade started to get

very complex. Countries began to realise that GATT did not have all answers to the questions

posed by the increasingly complicated nature of the global trade.

Jan 1, 1995 - On 1 January 1995, a new international economic organization, the World Trade

Organization (WTO), came into being, resulting from the lengthy, extensive and complex

Uruguay Round trade negotiation in the context of General Agreement on Tariffs and Trade

(GATT). Basically the end of the UR resulted in the formation of the WTO. This established a

substantial set of rules regarding trade in goods, including agricultural goods, included

agreements on trade in services and on trade related aspects of intellectual property rights, as

well as a strong and comprehensive mechanism to settle trade disputes between member

countries.

The Uruguay Round Agreement of GATT/WTO has been described as 'the most important event

in recent economic history. The WTO has been fairly successful in resolving such multinational

disputes and has started moving into areas of protection of intellectual rights, services, etc. followingpatterns of international business change.
http://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=general%20agreement%20on%20tariffs&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDYQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=general%20agreement%20on%20tariffs&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDYQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAghttp://www.google.com/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&tbs=tl:1&q=world%20trade%20organization&sa=X&ei=BZzoTMmPKIv2sgajyN2OCQ&ved=0CDUQ0AEwAg


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WTO..At a glance

Location:Geneva, Switzerland

Established:1st

January 1995

Created by:Uruguay Round negotiations (1986-94)

Membership:153 countries on 23 July 2008

Budget:194 million Swiss francs for 2010

Secretariat staff:637

Head:Pascal Lamy (Director-General)

Official Language: English, French and Spanish.
http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htmhttp://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm#budget#budgethttp://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm#budget#budgethttp://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm#budget#budgethttp://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm


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Objectives of WTO

The major Objectives of WTO are as follows:

To create a knowledge base on various matter concerning various National andInternational Trade Laws and Protocols, and their National and International

implications and ramifications.

Carry out research and development and the building up of a clearing-house of caseson all matters of WTO agreements which are of national concern including

safeguards and redressal mechanisms and suggesting alternative formulation in

national interest which could form subject matters of future consultation or pre

negotiations of WTO agreement.

Increasing awareness amongst Domestic Industry, business, agriculture, service andother sectors on the impacts of trade laws arising out of WTO agreement and other

treaties as member of WTO.

Cooperating with industry associates, bodies set up by Govt. of India and ExportPromotion Council on various issues related to tariff, non tariff and tactical barriers

and undertake drive for awareness campaign by jointly or severally holding

conferences, seminars, group discussions and other mode of awareness and

campaign as also to develop linkages with overseas organizations in order to create a

common perception and approach to the resolution of multilateral trade issues.

Exploit all potential provisions of WTO agreement available to the developingnations and advising and counseling the Government of India on all such issues of

national importance.

To assist the Government in negotiating with the International Community in theperspective of the WTO regime and to help strengthen the Indian position in these


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regards in all possible ways.

To co-ordinate efforts with the Government in creating a level playing fieldparticularly for the accounting professionals in India specially in view of the

implementation of the WTO regime on GATS through the most effective means

possible including the organization of seminars, publication of articles and

monographs, and presentation before the Government.

Identify areas of non-fulfillment of the WTO agreement which concern Indianinterest and suggest line of action and remedies open for fulfillment of these

obligations.

Initiate discussions on making the domestic trade and export and import policiesmore WTO compatible and suggest initiatives to be taken in this respect at various

levels to ensure high growth in export and economy including the development of

various modes of synergy and effective regulation of trade laws which are

functionally divided between Commerce, Finance, Foreign and Product related

Ministries.

To study the impact and threat perception of WTO agreement on the growing servicesector industries including all those covered under 'business services' of GATS

agreement in general and knowledge, accountancy and consulting services,

transport, communication, medical, education, insurance, banking in particular and

suggest policy issues, develop research and education programs aimed at educating

members of ICAI.

To develop a base of expertise amongst the members of the Institute on IntellectualProperty Rights, TRIPS, Anti-dumping laws, EXIM Policy matters etc., through

Seminars, training programs and such other methods as may be considered effective.


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Member Countries

There are 153 countries in the WTO from where some of the strong members of are given

bellow:

Australia Argentina China Canada Greece India Italy Ireland Indonesia Pakistan Paraguay South Africa Srilanka


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Activities/Contribution

The World Trade Organization (WTO) deals with the rules of trade between nations at a global

or near-global level. Its an organization for liberalizing trade and a forum for governments tonegotiate trade agreements. Moreover its a place to settle trade disputes as it operates a system

of trade rules.

Principles

The WTO agreements are lengthy and complex because they are legal texts covering a wide

range of activities. They deal with: agriculture, textiles and clothing, banking,

telecommunications, government purchases, industrial standards and product safety, food

sanitation regulations, intellectual property, and much more. But a number of simple,

fundamental principles run throughout all of these documents. These principles are the

foundation of the multilateral trading system.
http://www.wto.org/english/thewto_e/thewto_e.htm


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Basic Functions

1) Administering trade agreements2) Forum for trade negotiations3) Handling trade disputes4) Monitoring National Trade policies5) Technical assistance and training for developing countries6) Cooperation with other international organizations

Contribution

Setting Predictable rules:-The WTO is basically followed by the purpose to help trade flow as freely as possible so long

as there are no undesirable side-effects because this is important for economic development

and well-being. That partly means removing obstacles. It also means ensuring that individuals,companies and governments know what the trade rules are around the world, and giving them the

confidence that there will be no sudden changes of policy. In other words, the rules have to be

transparent and predictable.
http://www.wto.org/english/thewto_e/whatis_e/tif_e/tif_tncpic_e.htm


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Settlement of disputes:-Trade relations often involve conflicting interests. Agreements, including those painstakingly

negotiated in the WTO system, often need interpreting. The most harmonious way to settle these

differences is through some neutral procedure based on an agreed legal foundation. That is the

purpose behind the dispute settlement process written into the WTO agreements.

Treating Local people and foreigners equally:-Under the WTO agreements, countries cannot normally discriminate between their trading

partners. Imported and locally-produced goods should be treated equally at least after the

foreign goods have entered the market. The same should apply to foreign and domestic services,

and to foreign and local trademarks, copyrights and patents.

Conducting Freer trade:-Lowering trade barriers is one of the most obvious means of encouraging trade. The barriers

concerned include customs duties (or tariffs) and measures such as import bans or quotas that

restrict quantities selectively. The WTO agreements allow countries to introduce changes

gradually, through progressive liberalization. Developing countries are usually given longer to

fulfill their obligations.

Promoting fair competition:-The WTO is sometimes described as a free trade institution, but that is not entirely accurate.

The system does allow tariffs and, in limited circumstances, other forms of protection. More

accurately, it is a system of rules dedicated to open, fair and undistorted competition.

Encouraging development and economic reform:-The WTO system contributes to development. On the other hand, developing countries need

flexibility in the time they take to implement the systems agreements. And these agreements

allow for special assistance and trade concessions for developing countries.


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Criticism of WTO

The stated aim of the World Trade Organization(WTO) is to promotefree tradeand stimulate

economic growth. Although WTO works for the betterment of international business but they

have some limitation about their activities. Some of the most talkative criticisms of WTO are as

follows:

The WTO Is Fundamentally UndemocraticThe policies of the WTO impact all aspects of society and the planet, but it is not a democratic,

transparent institution. The WTO rules are written by and for corporations with inside access to

the negotiations. For example, the US Trade Representative gets heavy input for negotiations

from 17 "Industry Sector Advisory Committees." Citizen input by consumer, environmental,

human rights and labor organizations is consistently ignored. Even simple requests for

information are denied, and the proceedings are held in secret. Who elected this secret global

government?

The WTO Will Not Make Us SaferThe WTO would like you to believe that creating a world of "free trade" will promote global

understanding and peace. On the contrary, the domination of international trade by rich countries

for the benefit of their individual interests fuels anger and resentment that make us less safe. To

build real global security, we need international agreements that respect people's rights to

democracy and trade systems that promote global justice.

The WTO Tramples Labor and Human RightsWTO rules put the "rights" of corporations to profit over human and labor rights. The WTO

encourages a 'race to the bottom' in wages by pitting workers against each other rather than

promoting internationally recognized labor standards. The WTO has ruled that it is illegal for a

government to ban a product based on the way it is produced, such as with child labor. It has also
http://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/Free_tradehttp://en.wikipedia.org/wiki/Free_tradehttp://en.wikipedia.org/wiki/Free_tradehttp://en.wikipedia.org/wiki/Free_tradehttp://en.wikipedia.org/wiki/World_Trade_Organization


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ruled that governments cannot take into account "non commercial values" such as human rights,

or the behavior of companies that do business with vicious dictatorships such as Burma when

making purchasing decisions.

The WTO Would Privatize Essential ServicesThe WTO is seeking to privatize essential public services such as education, health care, energy

and water. Privatization means the selling off of public assets - such as radio airwaves or schools

- to private (usually foreign) corporations, to run for profit rather than the public good. The

WTO's General Agreement on Trade in Services, or GATS, includes a list of about 160

threatened services including elder and child care, sewage, garbage, park maintenance,

telecommunications, construction, banking, insurance, transportation, shipping, postal services,

and tourism. In some countries, privatization is already occurring. Those least able to pay for

vital services - working class communities and communities of color - are the ones who suffer

the most.

The WTO Is Destroying the EnvironmentThe WTO is being used by corporations to dismantle hard-won local and national environmental

protections, which are attacked as "barriers to trade." The very first WTO panel ruled that a

provision of the US Clean Air Act, requiring both domestic and foreign producers alike to

produce cleaner gasoline, was illegal. The WTO declared illegal a provision of the Endangered

Species Act that requires shrimp sold in the US to be caught with an inexpensive device allowing

endangered sea turtles to escape. The WTO is attempting to deregulate industries including

logging, fishing, water utilities, and energy distribution, which will lead to further exploitation of

these natural resources.

The WTO is Killing PeopleThe WTO's fierce defense of 'Trade Related Intellectual Property' rights (TRIPs)patents,

copyrights and trademarkscomes at the expense of health and human lives. The WTO has

protected for pharmaceutical companies' 'right to profit' against governments seeking to protect

their people's health by providing lifesaving medicines in countries in areas like sub-saharan


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Africa, where thousands die every day from HIV/AIDS. Developing countries won an important

victory in 2001 when they affirmed the right to produce generic drugs (or import them if they

lacked production capacity), so that they could provide essential lifesaving medicines to their

populations less expensively. Unfortunately, in September 2003, many new conditions were

agreed to that will make it more difficult for countries to produce those drugs. Once again, the

WTO demonstrates that it favors corporate profit over saving human lives.

The WTO is Increasing InequalityFree trade is not working for the majority of the world. During the most recent period of rapid

growth in global trade and investment (1960 to 1998) inequality worsened both internationally

and within countries. The UN Development Program reports that the richest 20 percent of the

world's population consume 86 percent of the world's resources while the poorest 80 percent

consume just 14 percent. WTO rules have hastened these trends by opening up countries to

foreign investment and thereby making it easier for production to go where the labor is cheapest

and most easily exploited and environmental costs are low.

The WTO is Increasing HungerFarmers produce enough food in the world to feed everyone -- yet because of corporate control

of food distribution, as many as 800 million people worldwide suffer from chronic malnutrition.

According to the Universal Declaration of Human Rights, food is a human right. In developing

countries, as many as four out of every five people make their living from the land. But the

leading principle in the WTO's Agreement on Agriculture is that market forces should control

agricultural policies-rather than a national commitment to guarantee food security and maintain

decent family farmer incomes. WTO policies have allowed dumping of heavily subsidized

industrially produced food into poor countries, undermining local production and increasing

hunger.

The WTO Hurts Poor, Small Countries in Favor of Rich Powerful NationsThe WTO supposedly operates on a consensus basis, with equal decision-making power for all.

In reality, many important decisions get made in a process whereby poor countries' negotiators


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are not even invited to closed door meetings -- and then 'agreements' are announced that poor

countries didn't even know were being discussed. Many countries do not even have enough trade

personnel to participate in all the negotiations or to even have a permanent representative at the

WTO. This severely disadvantages poor countries from representing their interests. Likewise,

many countries are too poor to defend themselves from WTO challenges from the rich countries,

and change their laws rather than pay for their own defense.

The WTO Undermines Local Level Decision-Making and NationalSovereignty

The WTO's "most favored nation" provision requires all WTO member countries to treat each

other equally and to treat all corporations from these countries equally regardless of their track

record. Local policies aimed at rewarding companies who hire local residents, use domestic

materials, or adopt environmentally sound practices are essentially illegal under the WTO.

Developing countries are prohibited from creating local laws that developed countries once

pursued, such as protecting new, domestic industries until they can be internationally

competitive. California Governor Gray Davis vetoed a "Buy California" bill that would have

granted a small preference to local businesses because it was WTO-illegal. Conforming with the

WTO required entire sections of US laws to be rewritten. Many countries are even changing their

laws and constitutions in anticipation of potential future WTO rulings and negotiations.

There are Alternatives to the WTOCitizen organizations have developed alternatives to the corporate-dominated system of

international economic governance. Together we can build the political space that nurtures a

democratic global economy that promotes jobs, ensures that every person is guaranteed their

human rights to food, water, education, and health care, promotes freedom and security, and

preserves our shared environment for future generations.

The Tide is Turning Against Free Trade and the WTO!


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International opposition to the WTO is growing. Massive protests in Seattle of 1999 brought

over 50,000 people together to oppose the WTOand succeeded in shutting the meeting down.

When the WTO met in 2001, the Trade negotiators were unable meet their goals of expanding

the WTO's reach. In Cancn, Mexico and Hong Kong, China, the WTO met thousands of

activists in protest, scoring a major victory for democracy. Developing countries refused to give

in to the rich countries' agenda of WTO expansion - and caused the talks to collapse!

A Case Where WTO is Involved

Case study: automobiles auctioning license plates and national treatment

In Shanghai, individuals seeking to purchase and register an automobile for their own use

must obtain a licence plate for the proposed vehicle through a monthly auction conducted by the

municipal government authorities. The system is designed both to reduce the total number of

automobiles released onto the streets of the city at any one time and also to act as an important

revenue source for the municipality. The reasons for the auction are domestic, and nothing in the

system is supposed to be designed in a way that would affect international trade.

On 7 August 2002, US consulate staff informed the Centre that, to their knowledge,

Shanghais monthly licence plate auction for individual and private-company buyers was relying

on one method of auctioning and allocating licence plates for domestically produced cars and

that another method was being employed in the case of licence plate auctions for imported cars.The US authorities alleged that the imported cars were being subjected to discriminatory

treatment that adversely affected market access for imports.

After being informed of the allegations, the Centres specialists immediately began an

investigation, and notified the Shanghai Municipal Development Planning Commission. An


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examination of the July auction rule used by the Shanghai International Commodity Auction Co.

Ltd, as outlined on its website, showed that plans called for 3, 000 licence plates for domestically

produced cars to be auctioned, compared with just thirty licence plates for imported cars. On

further investigation it also became apparent that the Commodity Auction Co. had set a floor

price at auction for imported cars (26, 000 yuan), but that no similar floor price existed in the

case of domestically made cars. The practical effect was that domestically made cars were

available at considerably lower prices (the average winning sealed bid at auction was 20, 904

yuan).

In terms of the relevant laws and regulations, the Centres specialists acknowledged that

the Chinese governments accession commitments required imported cars and auto parts to be

given national treatment. The Centres specialists also recognized that there was anindispensable relationship between a car and its licence plate, such that any restriction applied to

a licence plate also applied to the car. Accordingly, given the WTO national treatment principle

and the general elimination of quantitative restrictions, the different systems put in place by the

regional government for the acquisition of domestically made and imported cars resulted in

different treatment and were therefore inconsistent with Chinas WTO commitments. Under

WTO rules, this had a direct effect on the extent to which the Chinese government was meeting

its WTO obligations, as it is responsible for abolishing regional regulations, rules and other

regional measures that contradict WTO obligations and duties.

To avert a potential trade dispute and protect Shanghais reputation as a place to do

business, the Centre was committed to addressing this particular example of non-compliance. It

entered into negotiations with the Shanghai Municipal Development Planning Commission and

suggested that any different treatment by the licence plate auctioning systems be discontinued.

As a result, since October 2002 there has been no floor price for imported cars and no difference

between domestically produced and imported cars in terms of limits placed on the number of

cars auctioned.

In this case, the Centres approach was to build up a contact network, and seek a number

of opinions on whether the relevant laws and regulations were in line with WTO rules. This

included the opinions of representatives of foreign enterprises. At the same time, the Centre


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carried out its own investigations and analysis, and was able to work with the relevant

government departments on a quick and practical solution. In this respect, the Centre was an

important link between government departments and the business sector.

Conclusion

Today, most of the organizations give more emphasis on their development activities and improving

efficiency to reach maximum productivity.Business as well as tradepractices, both are vital issue now a

day. Through WTOs rules life has become easier. Their activities help to promote peace and

Provides more choice of products and qualities. Disputes are handled constructively Free trade

cuts the costs of living and raises incomes. Moreover it stimulates economic growth and their

activities encourage good government. Above all, we can come to the point that WTO, undoubtedly,

has a flourishing future in the long run and todays success and glory are the contribution of their proper

policies and movements.


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CHAPTER- 03:

Bibliography

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World-Trade-Organization-WTO-ACTIVITIES.html date- 15/11/2010 time- 11.30

pm
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PROJECT REPORT ON “WORLD TRADE ORGANIZATION