<p align="justify">It is widely recognized that increased participation in international trade and investment can serve as an engine for economic growth and development.<font size="1">1 </font>Implicit in international trade is the principle of comparative advantage that generally provides that states should trade with each other because they are better off by maximizing their production potential for some products and, through trade, obtain products they do not have or produce with less efficiency.<font face="Times New Roman,Times New Roman" size="1">2 </font>Such comparative advantage, <em><font face="Arial,Arial">inter alia</font>, presupposes a well-regulated trading system. Though attempts have been made to regulate the multilateral trading system by the GATT 1947 which was but meant to form only part of an agreement on the stillborn International Trade Organization (ITO), the first rule based World Trade Organization (WTO) was established only in 1995 and a number of countries have acceded to it thence. While there is no consensus on whether developing countries in general and the least developed countries (LDC s)<font size="1">4 </font>in particular are beneficiaries of the system<font face="Times New Roman,Times New Roman" size="1">5</font>, some countries have embarked on the accession process.<font face="Times New Roman,Times New Roman" size="1">6 </font>Ethiopia is one such country.</em></p>
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uwc/oai:UWC_ETD:http%3A%2F%2Fetd.uwc.ac.za%2Findex.php%3Fmodule%3Detd%26action%3Dviewtitle%26id%3Dgen8Srv25Nme4_4286_1221731163 |
| Date | January 2007 |
| Creators | Fura, Gashahun Lemessa. |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis and dissertation |
| Format | |
| Coverage | ZA |
| Rights | Copyright: University of the Western Cape |
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