WTO

• Where are the headquarters of the World Trade Organization located?

  Geneva, Switzerland
• How many member states are signed up to the World Trade Organization?

  164
• What is a core principle of the WTO's ideal trade policy?

  Non-discrimination
• How does the WTO advocate for trade agreements?

  All trade policies should be formally agreed
• What stance does the WTO take on protectionist measures in ideal trade?

  Trade should be as free as possible
• Why is predictability in trade important according to the WTO?

  It benefits strong economies and leads to investment
• What does the WTO consider 'fair competition' to sometimes include?

  Protectionist measures for infant industries
• For what duration does the WTO allow protectionism?

  Only for what is needed, then taken away
• How does the WTO support developing countries in trade?

  Through special provisions if needed
• What are the primary roles and functions of the World Trade Organization?

  • To set and enforce rules on International Trade
  • To resolve trade disputes
  • To provide a forum for negotiating trade liberalization
  • To monitor further trade liberalization
  • To increase the transparency of the decision-making process
  • To help developing countries fully benefit from free trade
  • To ensure cooperation with other major Economic Institutions
• Why is the enforcement side important regarding the rules of the WTO?

  Punishments can be enacted on countries breaking rules
• What role does the WTO play in trade disputes between countries?

  Acts as the middle institution to solve disputes
• What is a major benefit of the WTO providing a forum for negotiating trade liberalization?

  Agreements can be made much quicker
• What does the WTO do to monitor further trade liberalization?

  Make sure that trade is actually free
• Why is transparency in the WTO's decision-making process important?

  Allows for accountability in the decision-making process
• What does transparency allow member states to do in relation to the WTO?

  Hold the World Trade Organization accountable
• How does the WTO contribute to cooperation with other major Economic Institutions?

  Ensures cooperation with enacting trade policy
• According to the WTO, what is wrong with countries having informal free trade policies with only one country?

  It is discriminatory