Describe any five characteristics of WTO.Explain

globalisation-indian

#1

Describe any five characteristics of WTO.


#2

The five characteristics of WTO are
(i) World Trade Organisation (WTO) is a powerful international organisation.
(ii) It aims at liberalising international trade.
(iii) It establishes rules regarding international trade and sees that these rules are obeyed.
(iv) Nearly 162 countries of the world are currently members of the WTO, as on 30th November, 2015.
(v) WTO is supposed to allow free trade for all countries. But in practice, it is seen that the developed countries have unfairly retained trade barriers.