The ____ formed in 1995 and administers its own trade agreements, facilitates future trade negotiations, settles trade disputes,

Question

sammy [17]

3 years ago

9

The ____ formed in 1995 and administers its own trade agreements, facilitates future trade negotiations, settles trade disputes,

and monitors the trade policies of member nations

Social Studies

2 answers:

pshichka [43] · Answer 1 · 2022-07-20T14:53:07+03:00

Answer:

World Trade Organization.

Explanation:

The World Trade Organisation is the largest economic international institution concerned with trade laws between nations. Accepted by 123 nations on 15 April 1994, WTO formally began on the first of January 1995, replacing the General Agreement on Tariffs and Commerce (GATT). Roles of WTO include maintaining a global network of trading laws, serves as a mechanism for drafting international deals, resolves trade disputes between its members and addresses the interests of developing countries.

Otrada [13] · Answer 2 · 2022-07-20T16:40:37+03:00

Answer:

World Trade Organisation

Explanation:

World Trade Organisation is intergovernmental organisation that regulate the international trade. It started functioning on 1 January 1995 as per the provisions of Marrakesh Agreement. . It replaced GATT(General agreement on Tariffs and Trade).

It regulates the trade in intellectual property, services and goods and provides the framework to negotiate trade agreements and provides dispute resolution mechanism so that the participants can adhere to the WTO agreements.

Various researches have shown that WTO boosted trade as in the absence of WTO an country would have an increase of 32 percentage point on the tariffs on their exports.