SSC MTS EXAM

Detailed explanation-1: -The World Trade Organization, commonly referred to as WTO, is an international organisation dealing with the rules of trade between nations.

Detailed explanation-2: -The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

Detailed explanation-3: -The trade liberalization policy under the WTO regime has three fundamental components. They include: Expansion of market access by requiring the conversion of all non-tariff barriers to tariffs (tariffication) and the binding and reduction of these tariffs. Reduction of trade-distorting domestic subsidies or support.