Question

Explain the functions of WTO.

Answer 1

• WTO is a forum for negotiation and formalization of trade agreement among the member countries.
• WTO supervises the operation of agreement relating to General Agreement on Tariffs and Trade(GATT) and Trade-Related Intellectual Properties Rights (TRIPS).
• WTO is promoting international peace and creating a conducive environment for conducting international trade.
• WTO provides a platform for member countries to establish trade links with one another.
• WTO is committed to protecting free trade. It has framed rules on subsidies and dumping.
• WTO encourages import from certain countries which produce the product on a larger scale at the cost of environment.