Question

WTO is considered as the third important pillar of World Trade the other two pillars are

Answer 1

The World Trade Organization (WTO) (the successor of the General Agreement on Tariffs and Trade)

The International Monetary Fund (IMF)

The World Bank Group

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Answer 2

WTO stands for World Trade Organization. It is one of the main pillars in maintaining the World Economic Order.

After the Bretton woods agreement in 1944, the Bretton Woods system of monetary management established rules for commercial and financial relations among various countries.

This system also provided the World with the three important pillars for International Economic Law.

These are:

● WTO that is World Trade Organisation,

● IMF stands for International Monetary Fund, and,

● The World Bank Group