Write short notes functions of world trade organisation.
Answers
WTO IN BRIEF. In brief, the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
Question: Write a short note on the functions of the WTO...
Answer:
The World Trade Organisation[the WTO] is an organisation whose aim is to liberalise international trade...
Started at the initiative of the developed countries, the WTO establishes rules regarding international trade and sees that these rules are obeyed...
As on July 2016, nearly 165 countries of the world are members of the WTO...
Though the WTO is supposed to allow free trade for all, in practice, it is seen that the developed countries have unfairly retained trade barriers...
On the other hand the WTO rules have forced the developing countries to remove trade barriers...
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