The World Trade Organization is often accused of benefiting richer Essay

The World Trade Organization is very much accused of benefiting richer lands to the detriment of poorer ones. Discuss both the advantages and disadvantages of joi - Essay ExampleWTO has one hundred fifty members , Vietnum being the 150th. WTO derives its strength from the commitment of its member nations to managing trade with a common set of values including honesty, sincerity, transp arency, predictability, nondiscrimination and a rule-based dispute resolution. WTO contains a elementary set of rules that all its member states have to comply with. These rules basically put some obligation on the member nations. Some of the general obligation faced by the member countries are as follows apiece member nation (i) must apply the same trade policies to all WTO members (with exceptions for regional agreements), (ii) must brood foreign goods equally with domestically produced ones when applying trade-related regulations, (iii) must not use quotas or export subsidies, (iv) should impo se tariffs which are more transparent. Apart from this a member nation has to promise not to augment the level of familiar customs duties above levels negotiated with other WTO members. (Bossche, 2005)Joining the WTO is basically a commitment to enter the world commercialise which is governed by a set of transparent and strict rules and regulations, to access to the large and open market of 150 countries . Once a country joins the WTO, it is granted with both benefits and responsibilities, advantages and disadvantages, and great opportunities and big challenges at the same time. When a nation joins the WTO, it gets an access to huge international market. Joining the WTO also sends a strong signal to the nations trade and investment partners about that countrys future direction in obeisance of trade. Not only in respect of trade, joining the WTO could be considered as a spanking wise start of a comprehensive reform in economy, law, administration, education, training, and culture . Once a country joins the WTO, its economy starts to fructify to market changes that lead to labor and training changes. Joining the WTO apparently provides the