There are many world organisations that affect international trade. They each have their specific role, but as a whole are responsible for the governance of trade between countries to ensure that it is done is a fair and equitable manner.
1. World Trade OrganisationÂ
The WTO is the main multilateral trade agreement which provides a forum for countries to promote free trade and resolve trade disputes.
http://www.wto.org/
2. International Monetary Fund
The IMF is primarily responsible for lending funding to countries which experience short term balance of payments or exchange rate problems or crises.
https://www.imf.org/
3. World Bank
The World Bank promotes economic development in developing countries through the provision of grants, loans and aid.
http://www.worldbank.org/
4. United NationsÂ
A group of 192 member states and through the UN Conference on Trade and Development (UNCTAD) promotes economic growth and developments along with free trade.
http://www.un.org/en/
5. Organisation for Economic Co-operation and Development
The OECD carries out economic research and makes policy recommendations to improve the economic performance of member nations.
http://www.oecd.org/
All definitions taken from Tim Riley’s “Year 12 Economics 2011”.
HSC CoWorks offers HSC Tuition in a number of subjects including HSC Economics. Our team is made up of a team of HSC experts. Experienced HSC teachers, HSC markers, high achieving ex-students and certified life coaches. We have been a part of successful HSC campaigns since 1996 and in this time we have worked with 1000s of students as they have made the climb up Mount HSC® to get into their dream University course.
