discuss the functions of WTO
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WTO encourages international trade in the following ways:
i) Establishes rules for international trade
ii) Ensures the rules are followed
iii) Promotes removal of restrictions on trade barriers
iv) Encourages the adoption of liberal economic policies by governments
i) Establishes rules for international trade
ii) Ensures the rules are followed
iii) Promotes removal of restrictions on trade barriers
iv) Encourages the adoption of liberal economic policies by governments
Answered by
6
Functions:
The main functions of WTO are discussed below:
1. To implement rules and provisions related to trade policy review mechanism.
2. To provide a platform to member countries to decide future strategies related to trade and tariff.
3. To provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.
4. To administer the rules and processes related to dispute settlement.
5. To ensure the optimum use of world resources.
6. To assist international organizations such as, IMF and IBRD for establishing coherence in Universal Economic Policy determination.
The main functions of WTO are discussed below:
1. To implement rules and provisions related to trade policy review mechanism.
2. To provide a platform to member countries to decide future strategies related to trade and tariff.
3. To provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.
4. To administer the rules and processes related to dispute settlement.
5. To ensure the optimum use of world resources.
6. To assist international organizations such as, IMF and IBRD for establishing coherence in Universal Economic Policy determination.
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