Question

what do you mean by WTO and what are its function​

Answer 1

Answer:

In brief, the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

Answer 2

The sole international body dealing with international trade regulations is the World Trade Organization (WTO). As the successor organization to the GATT (General Agreement on Trade and Tariff), the World Trade Organization was founded in 1995.

                      Functions of WTO

1. Through the elimination of tariff and non-tariff obstacles, it promotes global commerce.
2. All of the member nations benefit from expanded market access.
3. It creates a trading system based on rules, in which governments are not allowed to impose arbitrary trade restrictions.
4. It establishes just international laws and rules.
5. The interests of the developing world are protected and promoted.
6. It is also in charge of increasing service production and trade.
7. It guarantees the best possible use of global resources.

To know more about WTO:

What do you mean by WTO? fo you think that USA follows WTO rules?analyse by giving examples

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Give the meaning of WTO? Mention any two shortcomings of WTO?

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