Describe the World Trade Organization (WTO)

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The Answer is The World Trade Organization (WTO) is a 159-member organization that succeeds GATT. The WTO oversees GATT agreements, serves as a forum for trade negotiations, and mediates trade disputes. It also monitors national trade policies and works to reduce trade barriers throughout the world. Unlike GATT, WTO decisions are binding. Countries that seek to become members of the WTO must participate in rigorous rounds of negotiations that can last several years.
The WTO policy initiatives include liberalizing world financial services, telecommunications, and maritime markets. Trade officials have not agreed on the direction for the WTO. Big differences between developed and developing nations create a major roadblock to its progress, and its activities thus far have focused more on dispute resolution through its Dispute Settlement Body than on reducing trade barriers. However, the WTO also provides important technical assistance and training for the governments of developing countries.

Describe the World Trade Organization (WTO)

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Describe the World Trade Organization (WTO)

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Correct Answer:
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