Advantages and Disadvantages of Norway's Ongoing Membership in the WTO

Norway has been a member of the WTO since 1995, prior to this they were a member of the GATT. They initially joined after recovering from a recession, and the country's economy grew as a result of joining the WTO. They give most favored nation treatment to all countries they trade with that are also a part of the WTO. One of the advantages of joining the WTO for Norway has been liberalizing trade, especially with things like fish and fish products. Additionally, since transitioning from the GATT to the WTO, Norway has experienced real growth and inflation has decreased. Unemployment also began to decrease (WTO). In regards to disadvantages, Norway has not experienced many. Joining the WTO has been beneficial for the most part.

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