Sample Physical Science Essay Paper on A Study on World Trade Organization (WTO)

A Study on World Trade Organization (WTO)

World Trade Organization (WTO) was first conceptualized in the year 1995 after the existence of an international organization referred to as the General Agreement on Tariffs and Trade (GATT). The establishment of WTO signified the tremendous evolution of the multilateral trading system which saw a great improvement in the world’s trade sector. A myriad of benefits experienced by the global trading system that was centered on WTO included; the ability for trading nations to negotiate and solve trade disputes. The world trade organization has been able to provide an ample environment for different countries to negotiate on matters of trade (Appleton and Plummer 5).

Essentially, WTO acts as a negotiating table where members of governments representing different nations can talk, negotiate and solve any alarming or existing trade dispute. Through the negotiating process, respective governments may lift out some trading barriers thus alleviating the barriers imposed on countries seeking trade agreements. In addition to this, WTO has its own set of rules and regulations that ensure every trade agreement is legal. This also helps in ensuring that the different governments meet their objectives and obligations made after they have signed a trade agreement. These laws and regulations help to protect not only the governments but also the business men, importers and exporters who are involved in the trade agreement (Appleton and Plummer 8). WTO also assists in settling of disputes among different nations as the organization provides structured procedure based on an agreed WTO legal foundation between the nations.

In essence, the WTO is an effective and transparent tool that not only helps in improving the trading system among different nations but also assists in promoting peace and stability within nations. More so, the WTO supports just and fairness during trade due to the set rules and regulations that govern different nations involved in any trade agreement. 

Despite the wide array of advantages experience in the trading system through WTO, the matter concerning Genetically Modified Organisms has led to a lot of controversy. Even though the scientific technology has proved to be beneficial by coming up with GMOs, a vast number of people are yet to approve any matter concerning the GMOs. The NGOs are critical of GMOs as they view them to be a threat to the human health thus being supportive of more stringent regulations set by the government. It is with this reason that WTO has been deterred on trading genetically modified foods and products to nations that totally oppose the use of GMO by humans. Members of WTO who are opposed to the use of GMOs have the right to restrict the importation of GMOs to their nations. This is according to the WTO laws which acknowledge the need for member states to apply and enforce trade-restricting measures in order to protect human, animal or plant health and life as well as public morals (Appleton and Plummer 95). Thus, each nation has the liberty to impose trade restrictions so as to achieve food and environment safety obligations to their citizens. Thus issues such as GMO should be addressed at a regional level before any bilateral trade agreement is signed.

Multilateralism is described as the practice of coordinating national policies in groups of three or more states by means of institutions such as WTO whereas plurilateralism involves different countries coming together to form groups that will formulate, influence or negotiate in or outside multilateral frameworks (Appleton and Plummer 94). These countries always seek liberalization away from the multilateral policies of the WTO. In addition, plurilateralism can violate the multilateralism principles such as transparency, universality and inclusiveness (Appleton and Plummer 94).

RTA supports liberal trade as opposed to being stumbling blocks for continued liberalization of WTO. This is due to the fact that it RTA offers possibilities for neighboring regional countries to develop stable economic relations through non-reciprocal trade agreements.

In conclusion, the existence of WTO has assisted in raising the economy as new employment opportunities have been created thus alleviating poverty levels within both the developing and developed countries.

Work Cited

Appleton, Arthur E. and Plummer, Michael G. (Eds.). The World Trade Organization: Legal, economic and political analysis. New York: Springer, 2005.