What is WTO and what's the function of it?

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World trade organization

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The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its mainfunction is to ensure that trade flows as smoothly, predictably and freely as possible.

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WTO- world trade organization

WTO is the only organization which only principal to spread the trading in globalize level it is the only organization for the global trade

but now a days it is also get violated because it also deal with black marketing, exporting poisonous drug, etc

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World trade  organisation

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Hey...Its main functions include: administering WTO trade agreements, providing a forum for trade negotiations, handling trade disputes, monitoring national trade policies, providing technical assistance and training for developing countries, and ensuring cooperation with other international organisations.
Hope it helps

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World Trade Organization (WTO):
The World Trade Organization (WTO) is an international organization that deals with the global rules of trade between nations. It was established on January 1, 1995, and is based in Geneva, Switzerland. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947.

Functions of WTO:
The WTO performs several key functions to facilitate international trade and promote economic growth. These functions can be explained as follows:

1. Administering Trade Agreements:
The WTO oversees the implementation and enforcement of trade agreements negotiated between member countries. These agreements cover a wide range of issues, including tariffs, subsidies, intellectual property, and trade in services. The WTO provides a platform for member countries to resolve disputes related to the interpretation or violation of these agreements.

2. Facilitating Trade Negotiations:
The WTO acts as a forum for trade negotiations among its member countries. It provides a platform for countries to discuss and negotiate trade barriers, market access, and other trade-related issues. The WTO organizes ministerial conferences and other meetings to facilitate these negotiations and promote consensus among member countries.

3. Monitoring Trade Policies:
The WTO monitors the trade policies and practices of its member countries. It reviews the trade measures implemented by countries and assesses their conformity with WTO rules. The WTO also conducts regular trade policy reviews to examine the impact of member countries' trade policies on the global economy and identify areas of concern.

4. Providing Technical Assistance and Capacity Building:
The WTO provides technical assistance and capacity-building support to developing countries. This includes training programs, workshops, and advisory services to help countries understand and comply with WTO rules and regulations. The WTO also assists developing countries in integrating into the global trading system and enhancing their participation in international trade.

5. Resolving Trade Disputes:
One of the primary functions of the WTO is to resolve trade disputes among member countries. The WTO's Dispute Settlement Body (DSB) provides a formal mechanism for resolving disputes through consultations, mediation, and adjudication. The DSB ensures that trade disputes are settled in a fair, transparent, and timely manner, based on the principles of WTO agreements.

Conclusion:
The World Trade Organization plays a pivotal role in promoting international trade, ensuring fair competition, and resolving trade disputes. Through its various functions, the WTO strives to create a predictable and transparent trading system that benefits all participating countries.

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WTO stands for World Trade Organisation

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World Trade Organization....

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