Write a short note on WTO
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WTO refers to World Trade organisation. It was set up at the initiative of developed countries.
1. Its Main aim is to liberalise international trade.
2. It makes rules regarding international trade.
3. It monitors the implementation of multilateral trade and settles trade disputes between countries.
1. Its Main aim is to liberalise international trade.
2. It makes rules regarding international trade.
3. It monitors the implementation of multilateral trade and settles trade disputes between countries.
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The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 124 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It is the largest international economic organization in the world. Among the various functions of the WTO, these are regarded by analysts as the most important:
1) It oversees the implementation, administration and operation of the covered agreements.
2) It provides a forum for negotiations and for settling disputes.
hope it helps you
1) It oversees the implementation, administration and operation of the covered agreements.
2) It provides a forum for negotiations and for settling disputes.
hope it helps you
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