Supporting Organizations of International Trade

In countries with different international trade and policies, governments, policies, currencies, currency systems, and various products are different. This is a very complex incentive for international trade. In today's fast-growing markets and the development of international trade between countries, many policies have been formulated and international organizations are needed. International trade policy requires joint agreements between countries ("International Trade Policy", 2008).

Government-supported multinational corporations (MNC), international money funds (IMF), the World Trade Organization (WTO), the World Bank and the International Finance Corporation (IFC), and other international financial institutions are fundamental to economic globalization It is the subject. In addition, accelerated numbers of SMEs are participating as global business management partners (Ahmad, 2001)

The postwar world economic order was originally aimed at relying on three major international organizations: the World Bank's Reconstruction and Development Bank (World Bank), the International Monetary Fund (IMF), and the International Trade Organization (ITO). Since ITO has never been established, international trade relations were governed by a more temporary arrangement until 1994, namely the General Agreement on Tariffs and Trade (GATT). The terms envisioned by the International Trade Organization relate to the protection of investment and the management of commercial restrictive practices, but these aspects are outside the scope of GATT (Jackson, 1997: 35-44). Therefore, postwar systems leave the activities of multinationals unregulated

Because there is no international trade organization, each country moved to GATT 1947, the only existing international multilateral trade institution since the early 1950s, and worked on issues related to trade relations. As a result, GATT has "self-reformed" de facto international organizations for many years. GATT is expected to be applied for several years until ITO becomes effective. However, since ITO has never been manufactured, GATT has gradually become the focus of international cooperation on trade issues.