World Trade Organization - Concepts - Chapter 4 Class 10 Economics - Globalisation and the Indian Economy - Economics

Last updated at Dec. 13, 2024 by

WORLD TRADE ORGANIZATION

  • World Trade Organization (WTO) is an international organization that aims to liberalize international trade.
  • The World Trade Organization provides a single forum for member countries to negotiate trade agreements and settled trade disputes.
  • WTO was established at the initiative of developed countries to establish rules for international trade and ensure that these rules are followed.
  • The World Trade Organization currently has members from about 160 nations .
  • Although the WTO is established to provide free commerce for all, it is clear that rich countries have unfairly preserved trade restrictions .
  • WTO rules have forced developing countries to eliminate trade barriers.
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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo