BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
World Bank
|
|
|
World Trade Organisaton
|
|
|
Foreign Exchange Dealers Association
|
|
|
Directorate General of Foreign Trade
|
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: -Global trade-The World Trade Organization (WTO) deals with the global rules of trade between nations.
Detailed explanation-3: -What are the WTO rules about? The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalization, and the permitted exceptions. They include individual countries’ commitments to lower customs tariffs and other trade barriers, and to open services markets.
Detailed explanation-4: -The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Decisions are normally taken by consensus.
Detailed explanation-5: -In brief, the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.