The world trade organization WTO

• When was the World Trade Organisation (WTO) created?

  1995
• What is the main aim of the WTO?

  To ensure that trade flows as smoothly, predictably, and freely as possible
• How many member countries are in the WTO?

  150 member countries
• How does voting work among member countries in the WTO?

  Each member country receives one vote
• What are the main functions of the WTO?

  • Makes rules for international trade
  • Ensures compliance with agreements
  • Settles trade disputes
  • Monitors national trade policies of member countries
• How often do member countries meet to negotiate economic liberalisation?

  Every few years
• When did the last trade negotiations take place?

  July 2006
• What was the outcome of the last trade negotiations in July 2006?

  They failed to produce any agreement
• Has a new round of trade talks been organized since the last negotiations?

  No, a new round has not yet been organized
• Since when has Myanmar been a member of the WTO?

  Since 1995
• CRITICISMS OF THE WTO

  • Critics argue that the WTO forces POOR COUNTRIES to liberalise their economies while allowing RICH COUNTRIES to protect their own economies
  • They also argue that the WTO's decision making are too complicate, undemocratic and not transparent
  • Although are 4 TIMES more poor countries than rich countries in the WTO, POOR COUNTRIES are rarely able to negotiate  trade policy that benefit them
  • Furthermore, WTO AGREEMENT can be more powerful than the NATIONAL POLICIES AND LAWS  OF MEMBER COUNTRIES
  • this threatens member countries-democracy,  independence and decision making
• A FAIRER WORLD

  • The WORLD BANK, IMF AND WTO regulate INTERNATIONAL DEVELOPMENT,FINANCE AND TRADE
  • they are POWERFUL, IMPORTANT, AND  USEFUL INSTITUTIONS. however,  they are criticised by some people for being UNFAIR
  • These critics say that these INSTITUTION FAIL to ADEQUATELY  PROTECT THE ECONOMIC INTEREST OF POOR COUNTRIES but UNFAIRLY PROTECT the economic interest or RICH COUNTRIES.