The World Trade Organization (1995) is the multilateral body for trade rules.
What the WTO does
Agreements
Members negotiate lower tariffs and fewer barriers, binding on all of them.
Settling disputes
A member that breaks the rules can be taken to a WTO panel.
Monitoring
It reviews members' trade policies and publishes them.
Equal treatment
A tariff cut for one member must be given to all: "most favoured nation".
The points to remember
- Write it like this: "The WTO promotes free trade by negotiating lower barriers, settling disputes and monitoring members' policies."
- Over 160 countries are members.
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It is less powerful than its rules suggest.
What limits its influence
Farming and services
Rich countries protect farmers; services rules are complex. The Doha Round, launched in 2001, never finished.
Unequal power
Large economies have more negotiators and more to offer than small, poor ones.
A stalled court
Since December 2019 its appeals body has not worked: the United States blocked new judges.
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A Paper 1 part (a) in this shape could appear for 10 marks.
Explain the role of the World Trade Organization (WTO) in promoting free trade.
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How the 10 marks are given
| Marks | What your answer needs |
|---|---|
| 9–10 | Theory fully explained, terms used correctly all the way through, the diagram included and fully explained |
| 7–8 | Theory explained, terms mostly right, the diagram included and explained |
| 5–6 | Theory partly explained, some terms, the diagram included |
| 1–4 | Theory only described or stated; few relevant terms |