Th4.1: Role of the WTO

Question 1

What are the two mains aims of the world trade organisation?

Answer 1

to bring about trade liberalisation

to ensure countries act according to the trade agreements they have signed

Question 2

What can a country or group do it a country fails to follow its agreements?

Answer 2

they can file a complaint to the WTO who will try and solve the issue through negotiations but the complaint can go to a panel of experts and countries must agree to their rulings

Question 3

What happens if the country reject the rulings?

Answer 3

the country which wins the ruling has the legal right to impose trade sanctions against the exports of the losing country

Question 4

They hold a series of talks called …..

Answer 4

‘rounds’

Question 5

What is one problem for any agreement to take place?

Answer 5

all countries must agree to it and so any country is able to veto an agreement. this veto may also be politically motivated, for example retaliation against the US for something unrelated