GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the primary purpose of the WTO?
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keep peace in the world
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foster global growth and economic stability
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help reduce poverty
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regulating trade and tariffs/ to sort out trade problems
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Explanation:
Detailed explanation-1: -The goal is to help producers of goods and services, exporters, and importers conduct their business.
Detailed explanation-2: -The WTO has many roles: it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries.
Detailed explanation-3: -There is no legally binding agreement that sets out the targets for tariff reductions. Instead, individual members of the WTO have listed their commitments to cut and bind tariffs on goods schedules that are part of the Uruguay Round Agreements.
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