Question

Explain the functions and importance of World Trade Organisation (WTO).

Answer 1

The following points state functions and importance of WTO

• The WTO has fueled globalization with both positive and negative effects.
• The main focus of the WTO is to provide open lines of communication concerning trade among its members.
•  It is also a centre of economic research and analysis.
• It is an organisation that intends to supervise and liberalise international trade.
• It oversees the implementation, administration and operations of the covered agreements.