Main Objectives of WTO – World Trade Organization
The purpose of the objectives of the WTO is spelled out in the preamble to Marrakesh Agreement. In a nutshell, these are :
- To ensure cuts in tariffs and other trade barriers.
- Eliminating unequal discrimination of international economic affairs.
- To support higher living standards, full employment, increased real income, and successful demand, as well as increased production and trade between Member nation’s goods and services.
- In particular, to make a positive impact that ensures the least-developed countries have shared in international trade, which reflects the needs of their economic development.
- To promote the optimum use of the world’s sustainable development capital.
- To facilitate an integrated, more accessible, and sustainable trading mechanism integrating all the agreements of the actual Multi-trade negotiations of the Uruguay Round.Above all, to ensure that trade policies are connected, environmental policies are taken care of by member countries in creating a new economic order of sustainable growth and development.
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