World Trade Organisation (WTO)

Question

13 Jul 2023

Answer :

Word Count : 655

The World Trade Organization (WTO) is an international organization that deals with global trade rules between nations. It was established on January 1, 1995, and replaced the General Agreement on Tariffs and Trade (GATT), which had been in existence since 1948. The primary objective of the WTO is to facilitate trade and ensure a smooth flow of goods and services across borders while also providing a platform for member countries to negotiate and resolve trade disputes.

Key Functions of the WTO:

1. Trade Negotiations: The WTO serves as a forum for member countries to negotiate trade agreements. These negotiations aim to reduce trade barriers, such as tariffs and quotas, _________ _________ ____ ____ ________ ______ ___ __________.
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