Question

Describe the charactics of world trade organisation

Answer 1

(a) Non-Discrimination (b) Free Trade (c) Stability in the Trading System (d) Promotion of Fair Competition (e) Special Concern for Developing Countries (f) Market Access Commitment (g) Decision at the Ministerial Level Meeting (h) Wider Range of Issues (i) Multilateral Trading System.

Answer 2

The five characteristics of WTO are:

(i) World Trade Organisation (WTO) is a powerful international organisation.

(ii) It aims at liberalising international trade.

(iii)It establishes rules regarding international trade and sees that these rules are obeyed.

(iv)Nearly 162 countries of the world are currendy members of the WTO, as on 30th November, 2015. .

(v) WTO is supposed to allow free trade for all countries. But in ptacdce, it is seen that the developed countries have unfairly retained trade barriers.