GK
INTERNATIONAL ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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UN
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NATO
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EU
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WTO
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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 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-3: -GATT was a mere set of rules which had no institutional foundation. It was a multilateral agreement with a small functioning associate secretariat. The WTO on the other hand is a global body that has a permanent institution along with a secretariat.