The role of the World Trade Organisation (WTO) in customs duty regulation

Dalkitsi Eleni ()
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Dalkitsi Eleni: Faculty of Economics, South-West University "Neofit Rilski", Blagoevgrad

Entrepreneurship, 2024, vol. 12, issue 2, 120-126

Abstract: The WTO or World Trade Organization has a very major role in global trade organization and regulation. It includes setting up tariffs that are not too high and maintaining a system that is favorable for trade across the globe. For example, an agreement may be reached by many countries to have some levels of taxes, which sometimes are considered not to be fair as they involve discrimination between different types of goods traded among countries’ citizens. In other cases, tariffs are always kept at certain levels even higher than the ones set up when a country joins this organization. Also, WTO is responsible for enacting common customs laws that deepen integration between nations, reduce trade barriers and enhance market access. However, currently it has become under attack from both terrorists who argue strongly against free movements within borders any time they feel like they want so because they believe that their own lives are threatened due unemployment resulting from globalization after certain members decided to take advantage. On the other side, however, some people continue arguing that prosperous nations have become much softer due to loosen immigration policies than before.

Keywords: Economic Growth; Public Revenue; Role of State (search for similar items in EconPapers)
JEL-codes: B12 B50 H25 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:neo:epjour:v:12:y:2024:i:2:p:120-126

DOI: 10.37708/ep.swu.v12i2.10

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