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Which organization aims to reduce barriers to trade?
- a)United Nations Conference on Trade and Development
- b)World Bank
- c)World Trade Organisation
- d)International Monetary Fund
Correct answer is option 'C'. Can you explain this answer?
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Which organization aims to reduce barriers to trade?a)United Nations C...
The World Trade Organisation (WTO) is the international organization that aims to reduce barriers to trade. It acts as a forum for countries to negotiate and remove blocks they have on trade. This includes barriers such as tariffs, licensing requirements, and subsidies. The WTO was established in 1995 to replace the General Agreement on Tariffs and Trade (GATT) which coordinated international trade without a permanent organization. The WTO has 164 members and each country has one vote in its decision-making process.
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Which organization aims to reduce barriers to trade?a)United Nations Conference on Trade and Developmentb)World Bankc)World Trade Organisationd)International Monetary FundCorrect answer is option 'C'. Can you explain this answer?
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