GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To develop the global south so they may be on equal to the global developed north in terms of economic strength
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To help provide stability to the world economy to prevent major financial crisis
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To facilitate a world trade system
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To defend the United States’ Economic power
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Detailed explanation-1: -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.
Detailed explanation-2: -Functions of the WTO The WTO facilitates trade negotiations among countries by providing a framework to structure the agreements, as well as providing dispute resolution mechanisms. It creates an international legal framework that ensures the smooth exchange of goods and services among the member countries.
Detailed explanation-3: -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-4: -Administering WTO trade agreements. Providing forum for trade negotiations. Handling trade disputes. Monitoring Members’ trade policies. Providing technical assistance and training to developing and least developed economies. Cooperating with other international organizations.