Iran's accession to the WTO, the basis for sustainable economic development

Abstract

Globalization of economics is a powerful aspect of globalization. When a national economy interact with the Global Financial Institutions, especially the World Trade Organization (a pioneer in the field of International Financial Institutions), some factors affect the economic development of that country more than any other time. According to the general agreement on initial request of Iran for membership in WTO, it is important to consider the consequences of economic security through a careful consideration of the effects of the factors on economic security. Also it is necessary for politicians to know how to deal with the issues prudently to protect the national interests. These points are essential because Iran has no previous experience in the WTO trading system and any misunderstanding of Macroeconomics’ effect, can cause problems in Iran’s economic system. Since the slightest mistake in decision making could endanger economic and welfare security, Iran should gain a full understanding of the impacts of globalization and has good management in the global economy. To avoid making a hasty decision, it is essential to consider any threat against Iran and then to find strategies to substitute oil-based economy with non-oil based economy like carpets, saffron, etc. Therefore, Iran can take benefits of joining to the organization in order to achieve a dynamic and sustainable development in the country’s economy.