1. Encouraging economic growth: By promoting free trade, the WTO helps to increase economic growth and create jobs in member countries. This is because free trade allows countries to specialize in the production of goods and services in which they have a comparative advantage, which can lead to increased efficiency and lower costs.
2. Facilitating trade negotiations: The WTO provides a forum for member countries to negotiate and resolve trade disputes. This helps to ensure that trade agreements are fair and that member countries comply with the rules and regulations of the organization.
3. Supporting developing countries: The WTO provides technical assistance and training to help developing countries participate in the global trading system. This support can help to promote economic growth and reduce poverty in these countries.
4. Promoting environmental and labor standards: The WTO has established agreements that promote environmental and labor standards in member countries. These agreements aim to ensure that trade is conducted in a sustainable and responsible manner.
5. Providing transparency and predictability: The WTO provides a transparent and predictable framework for international trade. This helps to reduce uncertainty and encourages investment and economic growth.