World Trade Organisation (WTO)

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  • Q1

    What is the significance of WTO over GATT?

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    Answer:

    The significance of WTO over GATT lies in the fact that its rules and regulations cover not only the trade in goods(which was the case in GATT till 1995) but also many new areas of trade such as trade in services, intellectual property rights, environment, etc.It is a permanent body and agreement made under it are binging for all of its member countries.

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  • Q2

    When was GATT established?

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    Answer:

    General Agreement on Tariffs and Trade was established in 1948.

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  • Q3

    How many rounds of trade took place under GATT?

    Marks:1
    Answer:

    Eight rounds of trade negotiations took place under GATT.

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  • Q4

    Where is the headquarter of WTO?

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    Answer:

    Headquarter of WTO is in Geneva, Switzerland.

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  • Q5

    When was WTO established?

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    Answer:

    WTO was established on 1 January 1995.

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