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¿How can trade promote development? WTOvideo2012 México

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Published on Jul 31, 2012

To WTO y Youth Ambassadors Program 2012.

Created and directed by Armando Castaño y Marcos Barbosa - JALISCO, México

Hello! My name is Armando Castaño.

Drives economic activity, so it is an important generator of jobs in the world.

The WTO is a forum within which delegates from its 156 member countries work together to maintain the multilateral trading system, which promotes equality, growth and development for everyone.

In order to apply an open trade policy, it is vital to have a strong and competitive national industry.

To accomplish this, it is not necessary to establish protectionist tariffs on imported goods. Encouraging education and manufacturing can allow countries to better contend in a globally competitive environment.

In order to achieve true development, a number of critical issues must be addressed. First of all, investments are needed in order to allow countries to move up the value chain and promote specialization. This could be accomplished by creating industry, investing in technology and machinery, and empowering local people in small towns. The result would be a regionalization of the economy and the creation of jobs within the communities.

When these new industries would start selling their goods and services, they would pay taxes. This would increase revenue for the government which could be used efficiently, such as to increase beneficial public spending.

Trade between countries can create new jobs, promote cultural exchange and offer consumers a better choice of products. This fosters the conditions for progress and for economic and social development. It is also known as the circle of well-being.

When countries start applying protectionist policies, which can hinder development, this can lead to economic stagnation. As a result, it is more difficult to attract new investments, and investors may go elsewhere to place their investments. This is why it is necessary to have an open trade policy and to modify legal processes in order to make it easier and faster to open new businesses.

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