Advantages and disadvantages of Lebanon's accession to the World Trade Organization (WTO)

Abstract

In the last decade, many aspects of globalization have captured worldwide attention. But for more than a century, the driving force behind globalization has been the expansion of trade in goods and services . Trade liberalization is of major concern for developing countries following protectionist policies, since they are more vulnerable to total openness. The rules of the World Trade Organization (WTO), which was established in 1995, are based on the principles of free trade. These rules promote trade liberalization policies; this is why acceding to this international organization is of great importance to Lebanon. The question arises: will Lebanon benefit from this accession? And what can be done to render this membership in the WTO beneficial? The main purpose of this thesis is to answer these questions by examining Lebanon's economic policies and its recent situation in regard to the international organization.