Consider the following regarding 39 World Trade Organisation WTO 39 1 GATS is the pre...........

Economic Affairs World Trade Organsiation (WTO)

Download Solution PDF

Consider the following regarding' World Trade Organisation (WTO)'-

1) GATS is the predecessor organization to WTO.

2) Once signed WTO agreements are binding on the member countries.

3) The highest institutional body is the Ministerial Conference.

Which of the given above statement (s) is/ are correct?

1 and 2

2 and 3

1 and 3

Only 2

छोटे Courses बड़े Results

Master World Trade Organsiation (WTO)

Prepare through Micro-courses

Try Now

Explanation:

1st statement is incorrect i.e. GATS is the predecessor organization to WTO.

The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 124 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. It is the largest international economic organization in the world.