What is the role of WTO in international trade?

What is the role of WTO in international trade?

Answer:

  • WTO’s aim is to liberalise international trade.
  • It establishes rules regarding international trade and sees that these rules are obeyed.
  • 161 countries of the world are its members currently.
  • It is seen that the developed countries have unfairly retained trade barriers. On the other hand, WTO rules have forced developing countries to remove trade barriers.