Question

Consider the following statements relating to the World Trade Organisations(WTO):
$1$. The WTO deals with the global rules of trade between nations.
$2$. The goal of the WTO is to help producers of goods and services, exporters and importers to conduct their business.
$3$. The WTO, which is a successor body of the General Agreement on Tariffs and Trade, came into being following the Uruguay Round of Negotiations.
$4$. The WTO distances itself in framing of rules on trade in intellectual property rights.
Which of the statements given are correct?

• A. $1,2$ and $3$
• B. $2,3$ and $4$
• C. $1,2$ and $4$
• D. $1$ and $3$

Answer 1

The correct option is A $1,2$ and $3$

The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their Parliaments.