Question

what is WTO what are the aim of WTO and what are the drawbacks of WTO

Answer 1

The WTO is a continuation of the General Agreement on Tariffs and Trade (GATT) which aims to promote the practice of free trade around the world. According to the WTO website it is ‘an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules.’ (WTO, Accessed 14th February). In essence the WTO is a contractual body of rules agreed to by member nations and a judicial system to enforce and protect these rules and regulations. This essay will outline the advantages and disadvantages of the WTO for developing states, by taking a World Systems-Theory perspective. hope it helped u my friend

Answer 2

Answer:

WTO is World Trade Organization. It is an organization which is in

favor of increasing the world trade through globalization.

The Aim of WTO:

• To liberalize International trade by allowing free trade for all.

• To promote international trade among the countries of the world in

an open uniform and non-discriminatory manner.

• Removal of both the import and export restrictions.

The Drawback of WTO:

• It is dominated by developed countries.

• It is used by developed countries to support globalization in areas

that are not directly to trade.

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