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13.6 World Trade Organization (WTO) (Part II) - Coggle Diagram
13.6 World Trade Organization (WTO) (Part II)
7. Building Trade Capacity
WTO agreements contain special provisions for developing countries, including longer time periods to implement agreements and commitments, measures to increase their trading opportunities, and support to help them build their trade capacity, to handle disputes and implement technical standards.
The WTO organizes hundreds of technical cooperation missions to developing countries annually.
It also holds numerous courses each year in Geneva for government officials.
Aid for Trade aims to help developing countries develop the skills and infrastructure needed to expand their trade.
8. Non-Discrimantion
A country should not discriminate between its trading partners and it should not discriminate between its own and foreign products, services or nationals.
9. More open
Lowering trade barriers is one of the most obvious ways of encouraging trade; these barriers include customs duties (or tariffs) and measures such as import bans or quotas that restrict quantities selectively.
10. Predictatble & Transparent
Foreign companies, investors and governments should be confident that trade barriers should not be raised arbitrarily. With stability and predictability, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition — choice and lower prices.
11. More Competitive
Discouraging ‘unfair’ practices, such as export subsidies and dumping products at below cost to gain market share; the issues are complex, and the rules try to establish what is fair or unfair, and how governments can respond, in particular by charging additional import duties calculated to compensate for damage caused by unfair trade.
12. Beneficial for Less Developed Nations
Giving them more time to adjust, greater flexibility and special privileges; over three-quarters of WTO members are developing countries and countries in transition to market economies.
The WTO agreements give them transition periods to adjust to the more unfamiliar and, perhaps, difficult WTO provisions.
13. The environment
The WTO’s agreements permit members to take measures to protect not only the environment but also public health, animal health and plant health.
However, these measures must be applied in the same way to both national and foreign businesses. In other words, members must not use environmental protection measures as a means of disguising protectionist policies.