Key Points
Key Points: World Trade Organisation (WTO)
- WTO is the successor to GATT and governs international trade rules.
- Its primary goal is free, fair, and non-discriminatory global trade
- WTO works to reduce tariffs and remove trade barriers among nations.
- Special provisions exist to protect Less Developed Countries (LDCs).
- India is a member and has accepted WTO commitments affecting its economy.
- WTO membership has influenced India's sectors and social indicators.
- It functions through a multilateral conference structure involving all member countries.
Concepts [17]
- Concept of Trade
- Advantages of International Trade
- Disadvantages of International Trade
- Problems of International Trade
- Difference Between Internal Trade and External Trade
- Export Trade
- Objectives of Export Trade
- Procedure of Export Trade
- Import Trade
- Objectives of Import Trade
- Purpose of Import Trade
- Procedure of Import Trade
- Documents Involved in International Trade Or Export Trade - Indent, Letter of Credit, Shipping Order, Shipping Bills and Mate's Receipt(DA/DP)
- Documents Involved in International Trade Or Export Trade - Bill of Lading, Certificate of Origin, Consular Invoice and Documentary Bill of Exchange(DA/DP)
- Documents Involved in Import Trade Such
- World Trade Organisation (WTO)
- Objectives of World Trade Organization (WTO)
