What is the primary function of the WTO?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. To liberalise international trade and ensure fair practices.
The primary function of the World Trade Organization (WTO) is to liberalise international trade and ensure fair practices among member countries. Established in 1995, the WTO provides a framework for negotiating trade agreements, resolving trade disputes, and reducing trade barriers like tariffs and quotas. It aims to create a predictable and transparent trading system that promotes economic growth and development globally.