World Trade Organization and Trade Liberalization

Abstract

World Trade Organization is a body, which plays an important role in the global economy. Agriculture, labour and liberalization play a pivotal role in WTO. It enforces various rules for trading between nations, who are the members of the organization. It plays an indispensable function of free trade practices in a smooth manner. Its decision is based on conferences and consensus of its members of the organization that may give positive results or it may create conflicts between members of the various countries. The Heart of the multilateral trading system is the WTO's alliances, negotiated and signed by most nations participating in trade policies within the limits for global benefit.