World Trade Organization Essay Example | Topics and Well Written Essays - 500 words

World Trade Organization - Essay Example As an business community organization, its main focus is set upon creating a uniform set of trade rules between nations that will ensure a smooth, efficient, trustworthy, and assured business transaction among member nations. As an advocate of free and global trade, WTO gives consumers the opportunity to have a greater market for demand and choice of various products as imported from various nation suppliers. The end result, as the organization envisions it, is supposed to be a more balanced, prosperous, peaceful, and accountable economic world. Balance and accountability in the economic world... That statement carries a tremendous weight in the WTO. As such, the organization also functions as a dispute settler among its member countries in relation to their trade agreements. To quote: Trade friction is channelled into the WTO's dispute settlement process where the focus is on interpreting agreements and commitments, and how to ensure that countries' trade policies conform with them.