WTO

Question 1

WTO

Answer 1

Oversees the global rules for government policies towards international trade. Provides a forum to negotiate global agreements to reduce barriers to trade.

Question 2

WTO principles

Answer 2

Liberalisation of free trade restrictions and movement towards free trade, non-discrimination among countries (MFN), no unfair encouragement for exports.

Question 3

Settling disputes

Answer 3

1. A complainant country files a complaint to WTO if it believes another member is violating its commitments or WTO rule.
2. If complaint is upheld, offending country is forced to correct the policy / offer compensation.
3. If offending country fails to do this, as a last resort WTO can authorise retaliation by complainant country against offending country.