The full form of WTO is World Trade Organisation. This organization came into existence in 1995. Likewise, the WTO takes care of all the rules and regulations for safe trading across countries. Also, The trade organization works solely on the agreement of the trading nations. This helps to ensure a safeguard among any trade taking place across two nations. Additionally, The WTO protects the producers, importers, and exporters from unfair exploitation. The General Agreement of Tariff and Trade-GATT takes full responsibility for the WTO, The GATT was available after world war 2 for safer practices and a better trading atmosphere around the world.
WTO means World Trade Organisation. is organization came into presence in 1995. Generally, WTO takes care of all the rules and guidelines for safe trading across countries.it also group works solely on the agreement of the trading nations. The GATT was available after World War 2 for safer performs and a better trading atmosphere around the world.
Furthermore, 164 countries are an integral part of WTO as of 2019. WTO Provide solution to discrimination of trading, safe Environments, and other tax benefits to the countries. These benefits will add as a catalyst to safer trade and better business relations across borders. Countries like Afghanistan and Libya are the latest members of the WTO team. However, some countries are a part of the observers and cannot take decisions inside the team. Roberto Azevedo is the director of WTO as of now, The headquarter is present in the Geneva region of Switzerland. Moreover, WTO has a staff of 600 employees to take care of fair trading around the world.
Let’s know more about World Trade Organisation and let’s try to understand its edifice-:
It is the supreme governing body that takes final decisions on all matters. It is formed by representatives of “usually, Ministers of Trade” all the member countries. The General Council “GC” is composed of the spokespeople of all the members.
The 23 founding members of the World Trade Organisation (WTO) were Australia, Burma, Canada, Ceylon, Chile, China, Cuba, Belgium, Brazil, France, India, Lebanon, Luxembourg, Netherlands, New Zealand, Norway, Pakistan, Southern Rhodesia, Syria, South Africa, United Kingdom, and the United States. The official languages used are English, French, Spanish.
Is India a member of WTO?
Yes, since 1 January 1995 India is an active member of WTO.
India stands at the fifth position according to WTO in terms of commercial services exports and sixth for commercial services imports. In the year 2020, the budget of WTO was 197.2 million Swiss francs (approx. 220 million US$)
| Term | Full Form |
| WTO | World Trade Organisation |
FAQ’s
This organization came into existence in 1995. Likewise, the WTO takes care of all the rules and regulations for safe trading across countries. Also, The trade organization works solely on the agreement of the trading nations.
WTO is short form of World Trade Organisation.
World Trade Organisation is full form of WTO.
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