10 things WTO can do

The WTO website has an interesting booklet on what the WTO can do. It is called "10 Things the WTO Can do". And the 10 Things are:

1.The WTO can ... cut living costs and raise living standards 

2. The WTO can ... settle disputes and reduce trade tensions
3.The WTO can ... stimulate economic growth and employment
4.The WTO can ... cut the cost of doing business internationally
5.The WTO can ... encourage good governance
6.The WTO can ... help countries develop
7.The WTO can ... give the weak a stronger voice
8.The WTO can ... support the environment and health
9.The WTO can ... contribute to peace and stability
10.The WTO can ... be effective without hitting the headlines

I found the point about settling disputes particularly interesting.

"The fact that the disputes are based on WTO agreements means that there is a clear basis for judging who is right or wrong. Once the judgement has been made, the agreements provide the focus for any further actions that need to be taken.The increasing number of disputes brought to the WTO does not reflect increasing tension in the world. Rather, it reflects the closer economic ties throughout the world, the WTO’s expanding membership and the fact that countries have faith in the system to solve their differences.

Sometimes the exchanges between the countries in conflict can be acrimonious, but they always aim to conform to the agreements and commitments that they themselves negotiated." 

The increasing number of disputes brought to the WTO does not reflect increasing tension in the world. Rather, it reflects the closer economic ties throughout the world, the WTO’s expanding membership and the fact that countries have faith in the system to solve their differences. 

Sometimes the exchanges between the countries in conflict can be acrimonious, but they always aim to conform to the agreements and commitments that they themselves negotiated."

It also highlighted the active role played by developing countries play in the dispute settlement mechanism. These graphics indicate the level of participation:

(Sources: WTO dispute settlement data; Raúl A. Torres,“Use of the WTO Trade Dispute Settlement Mechanism by the
Latin American Countries — dispelling myths and breaking down barriers”, WTO Staff Working Paper ERSD-2012-03, February 2012.)