13-10-2012, 05:18 PM
Roles of WTO
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WTO
WTO was formed in the year 1995.
The main goal of WTO is to help the trading industry to become smooth, fair, free and predictable.
It was organized to become the administrator of multilateral trade and business agreements between its member nations.
WTO also tries to resolve trade disputes between member nations.
Role of WTO
WTO's aim is to liberalise international trade.
WTO establishes rules regarding international trade and sees that these rules are obeyed.
153 countries of the world are currently members of the WTO.
It is seen that the developed countries have unfairly retained trade barriers. On the other hand, WTO rules have forced developing countries to remove trade barriers.