Question

The WTO plays an important role in the process of globalisation.

Which of the following statements justifies this?

• A. Provides financial aids to the countries
• B. Formulates rules of international trade
• C. Grants loans for infrastructure development to developing countries
• D. Aims to remove obstacles to free global trade

Answer 1

Answer: (B), (D)

Aims to remove obstacles to free global trade

The WTO is an international organisation whose aim is to liberalise international trade. Its job is to establish the rules of international trade and monitor their implementation. It also helps member nations formulate policies related to foreign trade in terms of reducing trade barriers.