World Trade Organization (WTO) is the sole international organization that manages and implements the rules and sanctions that is in relation to trade between nations (WTO, n.d.). The organization was founded upon the agreement of different nations and ratified by their governments to have an independent body that will supervise the ongoing trade between nations. The main objective of the organization is to aid the nations in conducting their trade and businesses.The World Trade Organization may be perceived to have a function that serves only the trade and businesses conducted by various nations. However, the WTO is also actively participating and supporting sustainable development and protecting and preserving the environment. These have become one of the fundamental goals of the organization.
Under the rules of the WTO, the nation members can adopt trade-related measures that aim to protect and preserve the environment provided with a number of conditions that will prevent the misuse of such measures for the vested interest of a person. The World Trade Organization largely contributes on the protection and preservation of the environment through the implementation of its rules in trade and attaining its objectives of open trade (WTO, n.d.).I significantly learned that the World Trade Organization plays a very important role in the world’s business and trade transactions.
It solely manages the global trade industry for the purpose of uplifting nations’ economic status. Surprisingly, while WTO advocates for the every nation’s economic development, it also aims to protect the environment from the adverse effects brought about by the growth of industrialization that largely contributes to the deterioration of the environment. Thus, the WTO advocates for the protection and preservation of the environment by adopting set of rules and measures that are environment-friendly. The World Trade Organization attempts to achieve a cleaner and healthier environment that will foster productive trading system.
ReferenceWTO. (n.d.). Trade and Environment. Retrieved July 15, 2009, from http://www.wto.org/english/tratop_e/envir_e/envir_e.htm.