International Trade and Access to Markets

Access to international markets is one of the most important determinants of a country's economic development. However, access is not equal — it is shaped by powerful institutions, trade agreements, and structural inequalities in the global trading system. This lesson examines the organisations and mechanisms that govern international trade and evaluates their impact on different groups of countries.

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The World Trade Organisation (WTO)

The World Trade Organisation was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT, established 1947). It is headquartered in Geneva, Switzerland, and has 164 member states (as of 2023), accounting for approximately 98% of world trade.

Key Functions

Function	Detail
Negotiating trade liberalisation	Organises multilateral trade rounds to reduce tariffs and other barriers
Dispute resolution	Provides a legal framework for resolving trade disputes between members
Monitoring trade policies	Reviews members' trade policies to ensure transparency and compliance
Technical assistance	Supports developing countries in building trade capacity

The Doha Development Round