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The role of World Trade Organisation.

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             Even though the trading system has changed greatly over the years, the underlying goals of the system embodied in the WTO have remained constant.
             The WTO is set up to promote openness, fairness and predictability in international trade for the benefit of humanity'. .
             The purpose of the WTO and its aims as stated in its manifesto are only to be welcomed by the international community. However, the way in which some agreements are reached and implemented are subject to some criticism. .
             BENEFITS OF THE WTO'S TRADING SYSTEM.
             A review of the World Trade Organisation's publications points to the many benefits of the trading system established by this multilateral institution. The WTO is a forum for important negotiations that lead to agreements reached by consensus. This gives the WTO's agreements great strength and focuses nations to abide by the rule. Some of the other main benefits are listed and discussed below under appropriate headings.
             The system promotes peace and allows disputes to be handled constructively.
             The WTO has established so-called dispute and settlement procedure' that allows resolving trade disputes in a more constructive manner than it was done before. The procedure places great emphasis on consultation, rulings and appeals processes. This provides countries with a constructive and fair outlet for dealing with disputes over trade issues, contributing to the international peace and stability and helping the trade to flow smoothly .
             A system based on rules rather than power.
             The WTO argues that its system is based on rules rather than power. The WTO's agreements apply to everyone. Rich and poor countries have an equal right to challenge each other in the WTO' dispute settlement procedures . The WTO agreements are negotiated by all members, are approved by consensus and ratified by nations' parliaments, they hold a great abiding power to all involved nations.
             Free and fair trade instead of protectionism.


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