World Trade Organization (WTO) was established with the main objective of liberalizing multilateral trade, based on the belief that trade liberalization brings multiple benefits to the world population. To this end, the preamble to the Agreement Establishing the WTO (Marrakesh Agreement), provides that “[t]he Parties to this Agreement, recognizing that their relations in the field of trade and economic [endeavor] should be conducted to raise standards of living, ensure full employment and a large and steadily growing volume of real income and effective demand.”