The World Trade Organisation (WTO) is an :

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International organisation that deals with trade and tariffs

International organisation that deals with non trade and tariffs

Both 1 and 2

None of the above

answer is A.

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Detailed Solution

The World Trade Organisation (WTO) is an international organization that deals with trade and tariffs. The WTO was established in 1995 by the "Uruguay Round" of negotiations which replaced the General Agreement on Tariffs and Trade (GATT). The original GATT, which was the outcome of the Bretton Woods Conference, became ineffective because of the widespread refusal by many governments to agree on universally applicable laws and regulations, as well as a freeze on international trade negotiations imposed by the Kennedy Round of multilateral negotiations launched in 1967.

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