WTO formulates policies of trading system relevant for international trade. Some of them are as follows:

CBSE Class 11 CBSE Class 11 Business Studies
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1

WTO formulates policies of trading system relevant for international trade. Some of them are
as follows:

  1. Non-discrimination in trade practices.
  2. Reciprocity to obtain better access to foreign markets.
  3. Binding and enforceable tariff commitments through multilateral negotiations.
  4. Restriction of international trade through safety values in special circumstances.
    Identify the values involved in the action taken by WTO.
2

The following values are involved :

  1. Equal advantage of international trade to member nations.
  2. Similarity in implementing agreements throughout the world.
  3. Regulation on discriminating trade practices.
  4. Protecting the interest of weak and underdeveloped
    nations.