What is function of world trade organisation, Business Economics

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What is the function of World Trade Organisation in the promotion of development?

The World Trade Organization (WTO) is international association dealing along with the global rules of trade among nations. This seeks to liberalise world trade for member countries through decreasing tariffs and opening and quotas domestic markets to foreign competition.

The WTO arbitrates trade disputes among countries (for example USA verses EU banana dispute) and can cancel domestic govt rules and regulations.


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