What are the various Roles played by W.T.O. in Foreign Trade.
Answers
World Trade organization (WTO) has a crucial role to play in the international trade, global economics, political and legal issues arising in the international business because of the globalization.
The goal of WTO is to provide a fair platform for its member countries to help in services like exports,imports and conduct their business in a peaceful manner
Role of WTO in international business
•WTO facilitates implementation, administration and smooth operations of trade agreements between the countries.
•It provides a forum for the trade negotiations between its member countries.
•Settlements of disputes between the member countries through the established rules and regulations.
•It cooperates with the IMF(International Monitory Fund) and World Bank in terms of making cohesiveness in making global economic policies.