WTO is serving as the successor to which of the following organisations a. General Agreement on Trade and Tariffs b. General Arrangement on Trade and Tariffs c. World Health Organisation d. UN Development Programme
Answers
Answer:
The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) that entered into force in January 1995 as a result of the Uruguay Round negotiations. ... All members of the WTO are parties to the GATS. The basic WTO principle of most favoured nation (MFN) applies to GATS as well.
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Answer:
WTO is successor of Option A: General Agreement on Trade and Tariffs
Explanation:
WTO stands for ‘World Trade Organization’. It is an intergovernmental organization that is regulates international trade between countries. It was officially announced in January 1995 and replaced ‘General Agreement on Trade and Tariffs’ which had started in 1948.
There are trade agreements between the nations which are signed by them as a part of WTO agreement. And also, a process to resolve disputes in case there are any. WTO doesn’t discriminate between any two trading partners, but there could be exceptions in case there is an issue which requires environmental protection or national security.