1.
What is this organization
2. What do they do
GATT → WTO → General agreement on tariffs and trade signed in 1947 by 23 countries.
WTO , created in 1995, is the biggest reform of international trade since WW2. The WTO and its
agreements also cover trade in services, goods and intellectual property unlike the GATT. In charge of
tariff reductions, anti dumping policies, and non-tariff measures, etc.
Operates a global system of trade rules and it acts as a forum for negotiating trade agreements and
settling trade disputes between its members and supporting the needs of developing countries.
Its goal is to help its members use trade as a way of raising its living standards, creating jobs and
improving citizens' lives.
World Bank → The World Bank is a branch of the World Bank Group constitute of five Regulatory
Institution,
1. International Bank for Reconstruction and Development (IBRD) : Focuses on middle-income and
creditworthy low-income countries.
2. International Development Association (IDA) : Provides concessional loans and grants to the
world’s poorest countries.
3. International Finance Corporation (IFC) : Promotes private sector development by providing loans,
equity, and advisory services.
4. Multilateral Investment Guarantee Agency (MIGA) : Offers political risk insurance and credit
enhancement to encourage foreign investment in developing countries
5. International Centre for Settlement of Investment Disputes (ICSID) : Facilitates the resolution of
disputes between governments and foreign investors.
The organization invests in the underdeveloped country in different topics such as the people, global
health ecology, planet, Infrastructure and digital.
The global goal is to reduce poverty by lending money to the government of its poorest members to
improve their economies and to improve the standard of living of their people.
European Union
The European Union is a political and economic organization of 27 European countries, aiming to
promote cooperation and free movement of goods and services.
The EU is taking action in several key areas to strengthen cooperation between its members and
improve the lives of its citizens.
In Economy The EU manages a single market where goods, services, capital and people move freely.
The common currency, the euro, is used by 20 countries, facilitating trade and exchanges
For trade the EU negotiates trade agreements with non-member countries to promote economic
exchanges, while protecting its industries and social and environmental standards.
About Environment the EU sets ambitious targets to combat climate change and protect the
environment, including through the European Green Pact, which aims to achieve carbon neutrality by
2050.
