Question

World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries?
(a) Rich countries
(b) Poor countries
(c) Developed countries
(d) Developing countries

Answer 1

Answer:

(c) Developed countries

Explanation:

• The countries which are independent and prosperous, are known as Developed Countries.
• The aim of the World Trade Organization is to liberalize international trade. WTO establishes the following rules regarding international trade for all the countries and sees that these following rules are obeyed and followed.

• The Final Act concluding the Uruguay Round and officially establishing the WTO regime was signed on 15th April 1994, during the ministerial meeting at Marrakesh, Morocco, and hence is known as the Marrakesh Agreement.

Answer 2

Answer:

(c) Developed Countries

Explanation:

World Trade Organisation

World Trade Organisation is the organization that deals with the global trade dispute between countries. The primary purpose of the WTO is to open trade for the benefit of all the countries.

Developed Countries

The countries which are independent, mature, and have a strong economy are usually considered developed countries.

WTO Initiative

It was seen that the developed countries had unfair trade practices. WTO aims at liberalizing international trade among these developed countries.