Question

Write a note on WTO ? (In 7 – 8 lines)

Answer 1

WTO(world organization trade) is the only global organisation dealing with the rules of trade between nation.As it's hearts 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

Answer 2

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The major function of the WTO is to ensure the flow of international trade as smoothly, predictably, and freely as possible. This is a multilateral trade organization aimed at evolving a liberalized trade regime under a rule-based system.

The basic functions of WTO are:

i. To facilitate the implementation, administration, and operation of trade agreements.

ii. To provide a forum for further negotiations among member countries on matters covered by the agreements as well as on new issues falling within its mandate.

iii. Settlement of differences and disputes among its member countries.

iv. To carry out periodic reviews of the trade policies of its member countries.

v. To assist developing countries in trade policy issues, through technical assistance and training programmes.

vi. To cooperate with other international organizations.