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The main function of the World Trade Organisation (WTO) is :
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- enforcing of Uruguay Round Agreements
- facilitating multi-lateral trade relations of member countries and reviewing trade policies
- administering trade dispute settlement procedures
- None of the above
Correct Option: B
The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.
