Question

A. Analyse the existence of WTO-World Trade Organization for development of Middle East nations. [1000 – 1200 words] - 4 Marks.

pleas avoid plagarism use your own words pleas dont copy and paste pleas, and write 1000 word

Answer 1

WTO plays a very important role for the development of middle east nations because of its following characteristics.

1. MFN (Most Favoured Nations), WTO Agreement is a non discriminatory aggreement, it treat all the nations equally, thus if any country favours the trade with developed countries like US, UK, Russia etc are bound to follow the same rules and regulations with other countries, thus helping the developing middle east nations.

2. National Treatment :- Policy of treating foreign company's as equivalent to local company's help in creating a transparent, robust and strong business market, which help in rising product quality leading to higher competition resulting in higher standard of living.

3. Free Trade:- It remove trade barriers and cross border tariffs thus encouraging trade, giving boost to country's economy, rising GDP etc.

4. Predictability :- It brings stability in the country, thus attracting investments, FDI, employement creation, infrastructure creation, wide variety of choices to people, multiple aspects, tastes, fashion, trends etc.

5. Encouraging Economic Reforms and Development :- It helps in creating a suitable atmosphere for bringing new economic reforms like one nation one tax, single window interface for facilitating trade, lowering corporate tax, special economic zones etc, WTO helps such nations by suggesting reforms and decision making leading to economic development.