Question

World trade organisation class 10

Answer 1

World Trade organisation (WTO) is an international body , which aims at liberalising international trade . it was started at the initiative of the developed countries .


1. WTO establishes rules and regulation international trade.

2. It sees that the members countries obey these rules and

3. 149 countries of the world are currently members of the WTO (2006).


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Answer 2

The following points state functions and importance of WTO

(i) WTO deals with regulation of trade between participating countries.

(ii) WTO provides a forum for negotiations and for setting disputes.

(iii) It is also a centre of economic research and analysis.

(iv) It is an organisation that intends to supervise and liberalise international trade.

(v) It oversees the implementation, administration and operations of the covered agreements.