What is the Full Form of WTO?

Establishment:

 The WTO was established on January 1, 1995, succeeding the General Agreement on Tariffs and Trade (GATT).

Functions of WTO:

• Trade Negotiations: The WTO provides a platform for member countries to negotiate trade agreements and settle trade disputes.

• Trade Monitoring: It monitors national trade policies and ensures compliance with agreed-upon rules and commitments.

• Technical Assistance: The WTO offers technical assistance and training to developing countries to help them build their trade capacity.

Importance of WTO:

• Promotes Free Trade: The WTO promotes the reduction of trade barriers, such as tariffs and quotas, to facilitate free and fair trade.

• Dispute Resolution: It provides a legal and institutional framework for resolving trade disputes between member countries.

• Economic Growth: By promoting trade liberalization, the WTO contributes to global economic growth and development.

Structure of WTO:

• Ministerial Conference: The highest decision-making body, which meets at least once every two years.

• General Council: Manages the day-to-day operations of the WTO and oversees the implementation of agreements.

• Secretariat: The administrative arm of the WTO, headed by the Director-General.

PYQs On WTO

Q. What is the full form of the WTO?

Ans. The full form of the WTO is the World Trade Organization.