Unit 7_MT434_Discussion response
13656Respond or elaborate on the response below:
The World Trade Organization (WTO) is an international economic organization created to regulate and facilitate trade. The key functions of this organization, allows fair trade agreements through dispute settlement, monitoring compliance, and provide a platform for negotiation and capacity building (World Trade Organization, n.d.). The WTO core charter agreements include goods, services, and intellectual property, which uses a global pipeline to ensure predictability of transit across borders and curbs arbitrary barrier that would create trade conflicts among nations.
Within the last five years, the WTO has been central to several global event that have occurred. In March 2020, over 80 WTO nations collaborated to keep supply chains open during the COVID pandemic to ensure essential goods and medical supply continued to be produced and distributed throughout the world. In February 2021, Ngozi Okonjo-Iweala, a former Nigerian finance minister, became the WTO’s first female and first African Director-General. The focus of her administration was pandemic recovery and the re-engineering of the dispute-settlement system. In June 2022, the Fisheries Subsidies Agreement (Fish 1) was unveiled to end subsidies that contributed to overfishing, illegal fishing, and the degradation of marine ecosystems. In December 2023, WTO memeber’s gather for MC13 to negotiate terms on agriculture, service liberalization, and digtial trade. Finally, in May 2025, the WTO’s appellate body still remains non-functional due to U.S. objections that have blocked new appointments since 2019.
The big takeaway is that WTO has significant influence on global trade. The organization seems more collaborative during global crisis and can accomplish wonders with the addition of visionary and innovative members. However, there are times, especially in recent history where the organization has struggled to make impactful change for the better.
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