BENEFITS OF MULTILATERAL LIBERALIZATION FOR THE COUNTRIES WHICH ARE EXPORTING LIGHT INDUSTRY PRODUCTS IN A KNOWLEDGE BASED SOCIETY

Abstract

The evolution of international economic processes, interdependencies between countries, between production and goods movements under the incidence and the impact of scientific and technical progress required, in the middle of the 20th century, the institutionalization of the economic liberalization process by laying the foundations of GATT (General Agreement for Tariffs and Trade - transformed later in WTO - World Trade Organization). Initially, GATT's rules were applied only for goods trade but gradually it had broadened its sphere of activity. Based on interpretative approach, in this paper we analyze the degree in which GATT - WTO activity can solve the business problems of the countries which are exporting industrial light products (we are talking especially about developing countries). WTO multilateral agreements concern among others agriculture, textiles, food products and industrial standards. In this paper, we want to show that exporting countries of light products can enjoy many advantages due to the signing of agreements in a multilateral frame. This type of benefits are directly reflected in the economic growth and development of the society based on knowledge.