Objectives of the wto, Microeconomics

Objectives of the WTO:

The agreement establishing the WTO reiterates the following objectives of the WTO: 

•  Raising standards of living and incomes, ensuring full employment, expanding production and trade, optimal use of world's resources, at the same time extending the objectives to services and making them more precise. 

•  Introduces the idea of sustainable development in relation to the optimal use of world's resources, and the need to protect and preserve the environment in a manner consistent with the various levels of national economic development. 

•  Recognises the need for positive efforts designed to ensure that developing countries, especially the least developed ones, secure a better share of growth in international trade. 

The WTO continues the decision-making practice followed under the GATT Decisions will be taken by a majority of votes cast on the basis of one country, one vote.

Posted Date: 11/15/2012 1:27:54 AM | Location : United States

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