What is WTO and list out its objectives in brief
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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 goal is to help producers of goods and services, exporters, and importers conduct their business.
Objectives of World Trade Organization
To accept the concept of sustainable development.
To protect the environment.
To ensure optimum utilization of world resources.
To enlarge production and trade of goodsTo ensure full employment and increase in effective demand.
To improve the standard of living of people of member countries.
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Objectives of World Trade Organization
To accept the concept of sustainable development.
To protect the environment.
To ensure optimum utilization of world resources.
To enlarge production and trade of goodsTo ensure full employment and increase in effective demand.
To improve the standard of living of people of member countries.
#markasbrainliest.
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The World Trade Organization ( WTO ) is only the global international organization dealing with the rules of trade between nations . It established to supervise and liberalize the world trade.The WTO was The successor of General Agreement on Tariffs and Trade ( GATT ) , which was created in 1947 in expectation that it would soon be replaced by a specialized agencys of the United Nations ( UN ) to be called The International Trade Organization ( ITO ).
The WTO has 6 key objectives :
1. To set and enforce rules for international trade.
2. To provide a forum for negotiating and monitoring further trade liberalisation.
3. To resolve trade disputes.
4. To increase the transparency of decision - making processes .
5. To co orperate with other major economic institution involved in global economic management.
6. To help developing countries benefit fully from the global trading system.
The WTO has 6 key objectives :
1. To set and enforce rules for international trade.
2. To provide a forum for negotiating and monitoring further trade liberalisation.
3. To resolve trade disputes.
4. To increase the transparency of decision - making processes .
5. To co orperate with other major economic institution involved in global economic management.
6. To help developing countries benefit fully from the global trading system.
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