The top 6 WTO member benefits for Small and poor countries
The small and poor countries join WTO in order to expand the business and achieve benefits like Raising living standards, Income opportunities, Employment opportunities, Increase production, Environment production, etc.
However joining WTO, the small and poor countries seems not so happy with the business beyond the border. There are certain reasons like:
1. Political reasonsSome of the countries are not able to obtain opportunities due to weak political structure and political instability.
2. InfrastructureEven if there is trade opportunity in joining WTO, the lack of infrastructure (like a roadway, technology, seaports) always lags small and poor countries behind.
3. Weak negotiationDue to the dominance of big nations in the WTO, small and poor countries always feel weak in terms of making negotiations. The proposals of small and poor countries are not considered in limelight.
4. Domestic producersThe domestic players of poor countries are not so capable enough to compete at the international level so WTO should strengthen them in order to be beneficial to trade.
5. MarginalizationThe impact of marginalization still continues even a small country is a member of WTO. The weak economy is not been able to get stronger due to which small and poor countries are unhappy to expand the business.
However, to get the benefit as per provisions and principles of WTO, some recommendation can be taken by small and poor countries in their business strategy: