+3 votes
in Economics by kratos

Explain the role played by WTO in liberalising international trade.

1 Answer

+6 votes
by kratos
 
Best answer

(a) WTO, which was started at the initiative of the developed countries, establishes rules regarding international trade and ensures that they are obeyed by its members.

(b) Despite of WTO’* permission to free trade for all, it has been noticed that the developed countries have unfairly retained trade barriers. On the contrary, WTO rules have forced the developing countries to remove the trade barriers.

(c) But the unfair way of retaining trade barriers by the developed countries depicts its bias in favour of them. But this has led to massive campaigns and representation by people’* organisations.

...