What is WTO?
Most likely, each of us has repeatedly heard in the news about the World Trade Organization (WTO), information about it can be found in the textbook on economics and geography. This organization is very important for many European countries, but in Russia very few people know why and why it was created. In addition, the question is now being actively discussed, if Russia joins the WTO, what will change. Let's deal with this complex political and economic issue.
What is the WTO: structure and organization
WTO is an abbreviation that stands for “World Trade Organization”. It was founded in 1995 to liberalize trade relations throughout the world, and also to regulate the trade and political relations of the states that joined this organization. The organization originated from the General Agreement on Tariffs and Trade, created back in 1947.
The headquarters of the WTO is located in Switzerland, in the city of Geneva. The Director General of the WTO today is Pascal Lamy, and as of January 1 of this year, 157 countries have already joined the organization.In the report of the Director General is the Secretariat, or the General Council, which leads several commissions. For example, a special trade policy commission or a dispute resolution commission.
The official main body of the organization is the WTO Ministerial Conference, which meets at least once every two years. In the entire history of the organization, six conferences were held, and what is remarkable, in fact, each of them caused a number of protest actions by opponents of globalization.
The main objectives and principles of the WTO
The main purpose of the WTO is considered aid and assistance to international trade. It can be said that the rules that the WTO produces are the normative apparatus for trading to be stable and unhindered.
In addition, the WTO serves as a kind of intermediary in concluding trade agreements between countries. This gives a certain reliability and a number of regulatory restrictions that help avoid conflicts.
Another important part of the work of the WTO is the settlement of disputable situations that often arise in the commercial space.
It is worth noting that the task of the WTO is not the achievement of any goals, but the establishment of general principles for international trade. These include: equal rights, reciprocity and transparency.
What gives entry to the WTO
First of all, a country located in the WTO is provided with security in the matter of trade relations. After all, in the event of a dispute in trade and economic matters, this organization will provide full legal and regulatory assistance.
It is also important that developing countries in the WTO have a number of benefits. For example, in terms of the level of customs and tariff protection of the market. Or benefits for the sale of high-limit products.
What will give Russia the WTO
Russia's accession to this organization will give the country many advantages. Their receipt is strategically important, because globalization, one way or another, is in full swing. The specific bonuses from joining the WTO are the following:
- Getting the best conditions for access of Russian products to the world market;
- Access to the WTO legal framework for resolving trade disputes;
- Expansion of opportunities for Russian investors in other member countries of the organization;
- Improving the image of the Russian Federation in the world political arena;
- Participation in the development of rules and regulations relating to international trade, while respecting their interests.
Today, there are major disputes over Russia's accession to the international trade organization, because besides the advantages, it also provides its own disadvantages, in particular, regarding agriculture, which has long been developed in the country.
Now it is difficult to judge what will happen if accession to the WTO occurs. What will change in the country is fully dependent on decisions taken in the upper circles of power.
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