Function & Objective Of World Trade Organization (WTO)

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 The World Trade Organization (WTO) is an international organization that promotes free trade and sets rules for international trade. The main functions and objectives of the WTO are :


*Functions:*


1. *Administering WTO agreements*: The WTO administers the agreements that have been negotiated and signed by its member countries.

2. *Providing a forum for trade negotiations*: The WTO provides a forum for its member countries to negotiate new trade agreements and to discuss tr ofade-related issues.

3. *Settling trade disputes*: The WTO has a dispute settlement mechanism that helps to resolve trade disputes between its member countries.

4. *Monitoring trade policies*: The WTO monitors the trade policies of its member countries to ensure that they comply with WTO agreements.

5. *Providing technical assistance*: The WTO provides technical assistance to its developing country members to help them build their capacity to participate in international trade.


*Objectives :*


1. *Promoting free trade*: The WTO aims to promote free trade by reducing or eliminating tariffs, quotas, and other trade barriers.

2. *Increasing economic growth and development*: The WTO aims to increase economic growth and development by promoting trade and investment.

3. *Improving living standards*: The WTO aims to improve living standards by promoting economic growth and development.

4. *Reducing poverty*: The WTO aims to reduce poverty by promoting economic growth and development.

5. *Promoting fair competition*: The WTO aims to promote fair competition by establishing rules for international trade and by providing a mechanism for resolving trade disputes.


*Principles :*


1. *Most-Favored-Nation (MFN) principle*: The WTO operates on the principle of most-favored-nation treatment, which means that each member country must treat all other member countries equally.

2. *National Treatment principle*: The WTO operates on the principle of national treatment, which means that each member country must treat foreign goods and services equally to domestic goods and services.

3. *Transparency principle*: The WTO operates on the principle of transparency, which means that each member country must be transparent in its trade policies and practices.

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