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World Trade Organisation Video Lecture | Geography Class 12 - Humanities/Arts

FAQs on World Trade Organisation Video Lecture - Geography Class 12 - Humanities/Arts

1. What is the role of the World Trade Organization (WTO) in global trade?

Ans. The World Trade Organization (WTO) is an international organization that regulates and facilitates international trade. Its primary role is to provide a framework for negotiating trade agreements, resolving trade disputes, and ensuring that trade flows as smoothly and predictably as possible among its member countries.

2. How does the WTO impact developing countries?

Ans. The WTO impacts developing countries by providing them with a platform to negotiate trade agreements that consider their unique needs and challenges. It also offers technical assistance and training to help these countries improve their trade capacity and integrate into the global economy.

3. What are the main principles of the WTO?

Ans. The main principles of the WTO include the Most-Favored-Nation (MFN) treatment, which requires countries to extend the same trade advantages to all members; National Treatment, which mandates that foreign goods should be treated no less favorably than domestically produced goods; and transparency, which encourages members to publish their trade regulations and maintain open communication.

4. How does the WTO resolve trade disputes between member countries?

Ans. The WTO resolves trade disputes through a structured process that begins with consultations between the parties involved. If these consultations fail, a panel of experts is formed to review the case and make recommendations. The final decision can be appealed, and if upheld, the member country is expected to comply with the ruling.

5. What is the significance of the Doha Development Round in relation to the WTO?

Ans. The Doha Development Round is a series of trade negotiations under the WTO that began in 2001, aimed at addressing the trade needs of developing countries. Its significance lies in its focus on reducing trade barriers, enhancing market access, and promoting development, which are critical for fostering economic growth and reducing poverty in these nations.

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Sep 02, 2025 Last updated

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