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 :

1. To ensure cuts in tariffs and other trade barriers.
2. Eliminating unequal discrimination of international economic affairs.
3. 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.
4. 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.
5. To promote the optimum use of the world’s sustainable development capital.
6. 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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