GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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fairly, simply and effectively
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smoothly, predictably and freely
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efficiently, clearly and smoothly
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freely, equally and gradually
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Detailed explanation-1: -The WTO’s overriding objective is to help trade flow smoothly, freely and predictably. It does this by: administering trade agreements. acting as a forum for trade negotiations.
Detailed explanation-2: -The WTO’s main aim is to promote free trade by lowering tariffs and other barriers. It does this through agreements negotiated and signed by most of the world’s trading nations. The WTO then polices these agreements to make sure all nations stick to the rules.
Detailed explanation-3: -RTAs must be consistent with the WTO rules governing such agreements, which require that parties to a regional trade agreement must have established free trade on substantially all trade within the regional area, and that the parties cannot raise their tariffs or other barriers against countries outside the agreement.
Detailed explanation-4: -The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. Hence, Statement 1 is correct. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments.