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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Political Science
Which of the following two statements regarding World Trade Organization are correct?
(a) It is the only international organization dealing with global trade rules between nations
(b) It was established in 1996
(c) Its Headquarters is in Geneva
(d) It employs some 680 staff
Choose the correct options :
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Eduncle Best Answer
The World Trade Organization (WTO) established in 1995 is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who usually meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva).