write any three points in favor of WTO
Answers
Answer:
The WTO's global system lowers trade barriers through negotiation and applies the principle of non-discrimination. The result is reduced costs of production (because imports used in production are cheaper) and reduced prices of finished goods and services, and ultimately a lower cost of living
Current WTO rules are codified in three agreements: The General Agreement on Tariffs and Trade (GATT), covering international trade in goods; the General Agreement on Trade in Services (GATS); and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
Promote free trade through gradual reduction of tariffs.
Provide legal framework for negotiation of trade disputes. ...
Trade without discrimination - avoiding preferential trade agreements.
WTO is not a completely free trade body. ...
WTO is committed to protecting fair competition. ...
WTO is committed to economic development.
Answer:
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