ECONOMIC LIBERALIZATION AND GLOBALIZATION. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social ScienceECONOMIC LIBERALIZATION AND GLOBALIZATION.3 Marks
Question
Write about World Trade Organisation $(WTO).$
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Answer
$>$ World Trade Organisation was established on $1st$ January, $1995$ by the member Nations of United Nations.
$>$ Its headquarter is located in Geneva in Switzerland.
• Objectives:
$>$ To remove obstacles influencing global trading.
$>$ To remove protection policy given to industries of country for foreign trade.
$>$To co-ordinate with global trade policy and economic policy.
$>$ To solve the trade related disputed arising in the world.
• Functions:
$>$ To set up a required structure for implementation of agreement related to multinational trade and agreement related to it.
$>$ World trade organization plays a vital role for debate and negotiations for multinational trade.
$>$ WTO encourages unbiased international trade.
$>$ Different Nations follow their own national policy. It observes them and suggests required improvements.
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