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Chapter 33: Q. 26. (page 804)

In World Trade Organization meetings, what do you think low-income countries lobby for?

Short Answer

Expert verified

The low income countries generally considered the reduction of trade barriers.

Step by step solution

01

Step 1. Meaning of World trade organization.

It refers to a trade organization concerned with trade rules and regulation. It is the only worldwide organization that deals with guidelines and policies of trade between nations. Cooperation with other global economic organizations is its main objective.

02

Step 2. Low income countries lobby for.

Basically, low income countries benefits more from trade than high income countries because low income countries have much more limited possibilities for trade inside their countries. Thus, because of these reasons, low income countries lobby for:-

a) To reduce trade barriers on trade.

b) To allow them to provide subsidy to domestic industries and exporters.

c) To provide better market place for their goods.

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