What is WTO agreement? Explain the similarities and differences betwee

Question

What is WTO agreement? Explain the similarities and differences between the SPS and

05 Mar 2024

Answer :

Word Count : 679

WTO Agreement:

The World Trade Organization (WTO) Agreement is a set of rules and regulations governing international trade between member countries. It was established in 1995 and currently has 164 member countries. The primary goal of the WTO is to facilitate smooth and predictable international trade by providing a forum for negotiations, settling disputes, and establishing rules governing trade between countries.

The WTO Agreement consists of various agreements covering different aspects of international trade, including trade in goods, services, intellectual property rights, and trade-related aspects of investment. One of the key agreements within the WTO framework is the Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement).

Similarities and Differences between SPS and TBT Agreements:

The SPS Agreement and the Agreement on Technical Barriers to Trade (TBT Agreement) are two distinct agreements within the WTO framework that address different aspects of trade regulations. While both agreements aim to ensure that trade barriers are not erected unjustifiably, they have different scopes and focus areas.

Similarities:

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