World trade organization and how does it help poor countries Essay

field trade system and how does it help poor countries - Essay Examplees one hundred and xl nine in number and is a successor to the General Agreement on Tariffs and swop, which was dissolved in the year 1995 to give birth to the World Trade Organization in its stead. All of the principles and agreements of the General Agreement on Tariffs and Trade were adopted by the new organization, which added approximately thirty more to them. The new organization stated that its mission is to increase international trade by promoting lower trade barriers. World Trade Organization is also a platform for the dialogue of trade (World Trade Organization, 2006).One of the fundamental principles of trading around which the World Trade Organization discussions revolve is that a trading system ought to be more accommodating for poor nations by giving them more time to adjust, greater flexibility, and more privileges. An open market system is advocated, while it is stressed that a trade system s hould be free of discrimination. The World Trade Organization is thus a powerful ally for the poor and less developed countries against growing from rich and developed nations as well as powerful companies. Some have argued that the World Trade Organization simply serves the interests of the United States and the European Union. verso to their opinion, the organization plays a crucial role in controlling a ravenous quest for profits on the part of rich nations and companies (Lipsey, 2006).Of course, the poor nations be in no condition to impose trade sanctions against developed countries. Disparities do exist. Rich nations are also known to engage in behind the scenes negotiations with the World Trade Organization. Yet, the organization gives a fair chance to the poor countries to voice opposition and form alliances through a major forum especially position for the less developed countries. The World Trade Organization is thus an indispensable tool for the poor nations access to and lawful participation in the