World Trade Organization – WTO

World Trade Organization - WTO

World Trade Organization - WTO

The World Trade Organization (WTO) is an international organization that deals with the global rules of trade between nations. It was established on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1948. The WTO’s goal is to ensure that trade flows as smoothly, predictably, and freely as possible.

Pinpoint the main objective of World Trade Organization (WTO)

A. Fix a quota for each member country, trading in international market.

B. To eliminate quota system and promote free competition in trade.

C. To secure third world markets for American and European goods.

D. To Abolish completely customs duties on itmes of trade within the member countries.

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