economicsChoose whether the given statement is True/False:WTO is one of the organisations whose aim is to liberalise international trade.

Choose whether the given statement is True/False:


WTO is one of the organisations whose aim is to liberalise international trade.


  1. A
    True
  2. B
    False 

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    Solution:

    The given statement is true. World Trade Organisation (WTO) is an organisation whose aim is to liberalise international trade. It was set up in 1995 after the developed countries started the initiative. Its headquarter is located in Geneva. It establishes rules regarding international trade among world countries in an open, uniform and non-discriminatory manner and sees that these rules are obeyed. At present, 164 countries in the world are part of the organisation. It was set up to ensure trade flowed freely and smoothly between nations. It believes that there should be no barriers to trade between different countries. An example of this organisation is the current debate on trade in agricultural products.
     
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