give the meaning of WTO ? what is the major above WTO ? mention an any two shorts coming of WTO
Answers
Answer:The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
The main shortcomings of the WTO was seen that the developed nations retained trade barriers by manipulating the situation to their favour, while the developing nations were forced to remove trade barriers and initiate policies of liberalization.
Explanation:
The full form of WTO is World Trade Organisation which deaIs with the trade relations between different countries of the world.Its main function is to ensure that international trade flows smoothly among different countries