What is the WTO?

It’s “How The World Trades”

What’s the UK’s current position in the organization, and what could it be? In this article, I look at the basics of the WTO in summary form and in plain language.

What is the WTO? What Does It Do?

“The result is assurance. Consumers and producers know that they can enjoy secure supplies and greater choice of the finished products, components, raw materials and services that they use. Producers and exporters know that foreign markets will remain open to them.

“The result is also a more prosperous, peaceful and accountable economic world.

Who is in the WTO?

“By lowering trade barriers, the WTO’s system also breaks down other barriers between peoples and nations.”

“The goal is to improve the welfare of the peoples of the member countries.

How does the WTO work?

These agreements are the legal ground-rules for international commerce. Essentially, they are contracts, guaranteeing member countries important trade rights. They also bind governments to keep their trade policies within agreed limits to everybody’s benefit.”

The WTO’s members are responsible for 98% of world trade.

Where does the UK sit in all of this?

When looking at the UK’s position, it is important to remember that the UK is the fifth-largest economy in the World. (France has fallen out of the top five and is now ranked seventh.)

Not surprisingly given its economic power, the UK will have a very important voice within the WTO when it can speak independently on its own behalf.

Remainer MPs are forever decrying the option of the UK leaving the EU in a managed, WTO-based way. As usual, Project Fear tactics have been used on the British people, as they have been used constantly since before the Referendum. In all of the doom-laden claims of Remainer MPs, the public could be forgiven for thinking that the UK will be unable to trade unless it agrees on a free trade deal with the EU. In fact, it could simply trade like the rest of the World does.

The important thing to remember is that the WTO’s members represent 98% of world trade.

I hope that the above gives a reasonable overview for readers of what the WTO is, what it does, and how it’s an exciting prospect for the newly-independent United Kingdom.

We don't have anything to fear when we leave and once again become a fully independent nation. We have everything to gain.



What is life without a little controversy in it? Quite boring and sterile would be my answer.

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Graham Lear

What is life without a little controversy in it? Quite boring and sterile would be my answer.