JAMB - Economics (2014 - No. 40)
The main objective of WTO is to
ensure adequate protection of infant industries
provide a mechanism for tariff reduction
assist countries with chronic balance of payments problem
assist developing countries to execute developmental projects
Explanation
The world trade organisation has six key objectives some of which are:
(1) to set and enforce rules for international trade
(2) to provide a forum for negotiating and monitoring further trade liberalization
(3) to resolve trade disputes
(4) to increase the transparency of decision-making processes
(5) to cooperate with other major international economic union
(1) to set and enforce rules for international trade
(2) to provide a forum for negotiating and monitoring further trade liberalization
(3) to resolve trade disputes
(4) to increase the transparency of decision-making processes
(5) to cooperate with other major international economic union
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