Question

Explain international trade organization?​

Answer 1

Explanation:

The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade. ... Until the creation of the World Trade Organization in 1994, international trade was managed through the General Agreement on Tariffs and Trade (GATT).

Answer 2

Hey mate !!

*International trade is the exchange of goods and services between countries. Trading globally gives consumers and countries the opportunity to be exposed to goods and services not available in their own countries, or which would be more expensive domestically.

*The purpose of the WTO is to ensure global trade commences smoothly, freely and predictably. The WTO creates and embodies the ground rules for global trade among member nations, offering a system for international commerce.

*Although there are some cogent arguments restricting for trade, the advantages of international trade are that a greater variety of goods and services can be provided to the world market at lower prices because of differences in people's knowledge and skills, differences in available resources and their costs, and ...

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