Question

Discuss the importance of the General Agreement on Tariffs and Trade , World Tourism Organization and measures such as the North American Free Trade Agreement in making sure that trade is fair in the international environment. Also discuss the impact of such agreements in the Tourism sector in St.VIncent and the Grenadines.

Answer 1

Tariffs is a tax which is levied on the imported goods by a country to protect its domestic producers from being swiped out of the market if international goods flow in the market and captures the market share. However, a tariff is always considered as an inefficient thing as this does not let the domestic producers to compete among the international producers in respect of the goods. Thus the domestic producers remain inefficient in producing the goods and te consumers might end up paying more for the goods than what should be charged. Consumers have only one choice to buy the goods from ie the domestic sellers as their is no foreign sellers allowed in the market. This is why at a point it is being considered the countries should not levy the tariffs on imported goods in order to make way for better efficient products in the market which are also at a lower price.

The world tourism organisation us responsible for the promotion of tourism in the world. It tries to make the countries achieve an economic growth by way of tourism. It further turns tourism into inclusive development and environmental sustainability. The world tourism organisation aims to promote trade among the countries irrespective of people'' sex, race,ethnicity,nnationality, etc.

North America Free Trade is an agreement among the countries, United States of America, Canada and Mexico. The NAFTA aims to promote growth among these mentioned countries as NAFTA aims to break the trade tariff among these countries. NAFTA us said to be successful excepting some workers who complaints to have lost their jobs due to international trade. NAFTA makes sure to eliminate the trade tariffs but it seems to protect the intellectual property rights on the traded goods. This is how NAFTA makes sure the trade is fair among the countries.

The world tourism organisation has helped the St Vincent and the Geraldines to promote its tourism sector. Russia has signed a visa waiver policy between these two countries to promote growth of tourism sector in these two countries namely Russia and St Vincent and Grenadines. A policy such was visa waiver will attract more number of tourists to visit St Vincent and Grenadines which will thereby promote its economic growth. St. Vincent is a country majorly dependent on trade.