International trade is a key factor for economic growth, and can help to alleviate poverty. While trade is not an end in itself, it can enhance a
country’s access to a wider range of goods and services, technologies and knowledge. It stimulates the entrepreneurial activities of the private
sector; it creates jobs; It fosters vital learning processes; It attracts private capital. It increases foreign exchange earnings; above all, it
generates the resources for sustainable development and the alleviation of poverty.
Select one of the following global institutions of your choice, and demonstrate, using
appropriate research, how the selected agency contributes to the development of
Provide relevant examples how the selected organisation has helped to enhance (or
otherwise) global trade in the 21st Century.
1. The World Trade Organization (WTO) is the only global international organization
dealing with the rules of trade between nations. At its heart are the WTO
agreements, negotiated and signed by the bulk of the world’s trading nations and
ratified in their parliaments. The goal is to help producers of goods and services,
exporters, and importers conduct their business.
2. Created in 1945 the International Monetary Fund (IMF) is an organisation
composed of 188 countries, working to foster global monetary cooperation, secure
financial stability, facilitate international trade, promote high employment and
sustainable economic growth, and reduce poverty around the world.