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Identify two international institutions

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Prepare a paper in which you identify two regional or international institutions (e.g., International Monetary Fund, World Bank, United Nations, World Trade Organization) of which at least one is a financial institution.

Then, select two countries that could apply traditional international trade theories (e.g., absolute advantage, comparative advantage, factor endowment) to enhance their participation in international trade.

Lastly, explain how each identified institution could help facilitate the trading process between the two countries.

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The response addresses the queries posted in 1176 Words, APA References

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The response addresses the queries posted in 1176 Words, APA References
International Institutions

Introduction

The paper discusses about the various international institutions like World Trade Organization (WTO) and International Monetary Fund (IMF) that help in the maintaining relations among the countries in the world. They also assist the countries by providing them financial help and develop co-operation among the various nations. The paper also discusses the international trade theories for the countries Zambia and Sweden. The trade theory of absolute advantage and factor endowment are also explained in the paper.

International Institutions

World Trade Organization (WTO)

The WTO is the successor of GATT (General Agreement on Trade and Tariff). WTO was established on the 1st January, 1995. The main aim of establishing the WTO is to help producers of goods and services, exporters and importers to conduct their business. The business environment of the world is greatly influenced by WTO principles and agreements. This organization also affects the domestic environment. GATT was transformed from a provisional agreement into a formal international organization known as the World Trade Organization (WTO).

It is directed by the Ministerial Conference that will meet at least once every two years. The regular business of WTO is seen and controlled by the General Council. The Secretariat of WTO is based in Geneva, Switzerland. Presently, WTO has a total of 153 members and they account for about 97 percent of the international trade. Along with the trade in goods, the WTO Agreement also includes services and intellectual property. WTO is a more powerful body with enlarged functions than the GATT (Wall & Rees, 2004).

Functions of WTO: The WTO performs many functions which are essential to increase co-operation among the member countries and to regulate the trade activities among them. The functions of WTO are as follow:

? Administering the WTO trade agreements.

? Governing the multilateral trade relations among its member ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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