2. Government procurement (buying goods and services for the government) is big business. It is a massive part of international trade, given the considerable size of the procurement market

(often 10–15 per cent of the GDP of countries), and the process benefits domestic and foreign stakeholders in terms of increased competition. The process is also prone to corruption, however.

The efforts of the World Trade Organization (WTO) to create transparent and non-discriminatory procurement procedures are generally considered to be the best tool to achieve ‘value for money’

because they optimise competition among suppliers. To an extent, the European Union efforts and legislation contribute to competition. Go to the WTO’s website (http://www.wto.org) and read about government procurement. Then write a brief report on three major areas of the WTO’s work in relation to this issue.