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BTEC Unit 39 P2 describe the mechanisms that regulate international trade
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BTEC Unit 39 P2 (Pass)
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P2describe the mechanisms that regulate international trade
In this P I will describe the mechanisms that regulate the international trade. I will do this by
explaining:
The work of the WTO in international trade
Quotas and Tariffs
The legislation on product safety and reliability
What is the World Trade Organisation and what are their purposes?
The WTO is an worldwide organisation
for trade opening. the jobs of the WTO
are to improve international trading,
solving trading disputes and removing
trading barriers. The WTO was founded
in 1995, this organisation emerged from
the General Agreement of Tariffs and trade (GATT) that 23 different countries signed in
Geneva in 1947. The Headquarters of the WTO is still located in Geneva. Some roles of the
WTO are:
Administering WTO trade agreements.
Monitoring national trade policies
Technical assistance and training for developing countries.
The role of the WTO in promoting international trade.
The World Trade Organisation has a crucial role in the international trade, the Wold trade
organisation makes administration and smooth trading easier between countries. The WTO
provides platforms for member countries to negotiate about trading agreements, this way the
countries can easily negotiate about their wishes for the (existing) trading agreement. These
platforms helps member countries to improve their import or export, The WTO also makes it
easier for member countries that have difficulties with other member countries to remove
trade barriers or trade restrictions. So the WTO indirectly helps to promote international trade
thanks to giving their members a platform to negotiate. Other roles of the
Quotas and Tariffs
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