How does the WTO encourage relatively free trade?

According to the WTO Cell - Industries, Commerce & Investment Department, Govt. of the Punjab, the WTO encourages the process of trade liberalisation through free trade, gradually reducing barriers to international trade. This is achieved through multilateral trade negotiations among member countries. Progressive reduction of barriers (both tariff and non-tariff) leads to “freerer” trade. The WTO does not seek unrestrained free trade. On the contray it tries to follow a 'structured and functionally effective' way to harness the value of open trade to principles and fairness.

Note: The above information is based on the Frequently Asked Questions (FAQs) booklet, issued by the WTO Cell Industries, Commerce & Investment Department, Govt. of the Punjab. Please visit the official website of the Govt. of Punjab for up-to-date information and details.

Tags: Trade, Business, WTO, Pakistan

Related