W.T.O is the only organization dealing with the:
The correct answer is C: Global trade rules. The World Trade Organization (WTO) is an international organization that deals with the global rules of trade between nations. It is the only organization that specifically focuses on global trade and has a wide range of responsibilities and functions in this regard. Here is a detailed explanation:
1. World Trade Organization (WTO):
The WTO is an international organization established in 1995 and is headquartered in Geneva, Switzerland. It provides a platform for member countries to negotiate and set rules for global trade.
2. Functions of WTO:
The WTO has several key functions, including:
- Administering trade agreements: The WTO oversees the implementation and enforcement of various trade agreements between member countries.
- Forum for trade negotiations: The organization provides a platform for member countries to negotiate new trade agreements and resolve trade disputes.
- Dispute settlement mechanism: The WTO has a dispute settlement system that helps resolve trade disputes between member countries.
- Monitoring and surveillance: The WTO monitors and analyzes global trade trends, policies, and measures that affect international trade.
- Technical assistance and capacity building: The organization provides technical assistance and capacity-building support to developing countries to help them participate effectively in global trade.
- Cooperation with other international organizations: The WTO collaborates with other international organizations to promote global economic development and trade.
3. Scope of WTO:
The WTO covers a wide range of trade-related areas, including goods, services, intellectual property rights, and trade-related aspects of investment. It aims to promote free and fair trade by reducing trade barriers, eliminating discriminatory practices, and ensuring transparency in trade-related policies.
4. Membership:
The WTO has 164 member countries, representing the majority of global trade. Any country that accepts the WTO's rules and regulations can become a member, subject to certain criteria and negotiations.
In conclusion, the WTO is the only organization that deals with global trade rules. It plays a crucial role in promoting international trade, resolving disputes, and ensuring a level playing field for all member countries.