Question

Write about the World Trade Organisation.

Answer 1

The World Trade Organisation or WTO is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trending nations and satisfied in their Parliaments. The WTO began operations on January 1, 1995, after the completion of the Uruguay Round (1986-94) of Multilateral trade negotiations.

• WTO has six key objectives

1. To set and enforce for international trade.
2. To provide a forum for negotiating and monitoring further trade liberalization.
3. To resolve trade disputes.
4. To increase the transparency of decision-making.
5. To corporate with other major international economic institutions involved in global economic management.
6. To help developing countries benefit fully from the global trading system.