BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The World Trade Organization (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 trading nations and ratified in their parliaments.

Detailed explanation-2: -The World Trade Organization-the WTO-is the international organization whose primary purpose is to open trade for the benefit of all.

Detailed explanation-3: -Peter Sutherland, with the overall responsibility for preparing the groundwork for a smooth transition from GATT to the WTO. In the “Headquarters Agreement", Members decide to locate the WTO in Geneva. 1995 1st January, establishment of the World Trade Organization. March, Mr.

Detailed explanation-4: -The WTO’s founding and guiding principles remain the pursuit of open borders, the guarantee of most-favoured-nation principle and non-discriminatory treatment by and among members, and a commitment to transparency in the conduct of its activities.

Detailed explanation-5: -One of the main roles of the WTO is to settle disputes between its members. The WTO plays the role of trade tribunal, where members may file complaints against other members who fail to abide by the principles of international trade. There are three stages to dispute settlement.