What is the role of WTO in liberalising international trade?
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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. Almost all the industrial and agriculture sectors have been affected by trade barriers between the countries. so in order to help these people out WTO plays a crucial role.
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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
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