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Question
Write a short note on the World Trade Organization (WTO) and its functions.
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Solution
Instructions: Introduce WTO and mentions its functions.
Solution:
World Trade Organization or WTO is an intergovernmental organisation established on 1 January 1995, headquartered in Geneva. As of 2020, it has 164 member countries.
Some of the functions of the WTO are:
- Removing trade barriers
- Suggesting changes in trade policies
- Moderate and supervising discussions
- Solving trade disputes
- Ensuring good governance
- Stimulating economic growth
- Maintaining peace and stability between its members.
Solution:
World Trade Organization or WTO is an intergovernmental organisation established on 1 January 1995, headquartered in Geneva. As of 2020, it has 164 member countries.
Some of the functions of the WTO are:
- Removing trade barriers
- Suggesting changes in trade policies
- Moderate and supervising discussions
- Solving trade disputes
- Ensuring good governance
- Stimulating economic growth
- Maintaining peace and stability between its members.
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