Q. 13.9( 22 Votes )
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World Trade Organization(WTO) was established on 1 January 1995. There were 77-member countries of WTO on January 1, 1995 which had increased to 164. It's headquarters in Geneva, Switzerland.
The WTO is the successor to the GATT. The GATT was a forum where the member countries met from time to time to discuss and solve world trade problem.
The main aim of these organizations are as follows:
● to ensure linkages between trade policies, environmental policies, and sustainable development.
● It co-operates with the IMF and the world bank.
● Multilateral agreements on trade in goods.
● Agreement on trade-related aspects.
In 1995, India became a member of the World Trade Organisation (WTO). The the organization had the following objectives:
1. to free trade between countries
2. to put to an end all those discriminatory laws, restrictions, rules and policies that are hurdles in the way of international free trade
3. to regulate global trade with the help of a formal multi-party mechanism.
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