General Agreement on Tariffs and Trade (GATT), World Trade Organization (WTO) and Jordan's benefits in becoming a member

Introduction GATT is the only global international organization dealing with the rules of trade between nations, which is known today as The World Trade Organization (WTO). At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO basic functions: * Administering WTO trade agreements. * Acting as …

…may choose not to apply measures if the overall benefits of the cheap dumped imports outweigh the costs of dumping. In the end we can conclude that joining the GATT/WTO community was a major step in the Jordanian trade revolution, because of it's wide scaled benefits on the domestic field, importing and exporting goods or services. It enabled competition between local and global organizations, which improves our local production to fit the higher needs.