Question on: JAMB Economics - 2011
The World Trade Organization is responsible for
A
stabilizing and harmonization oil prices
B
ensuring equal participation of countries in trade
C
modernising world economies
D
minimizing obstacles to international trade and investment
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Correct Option: D
The World Trade Organization (WTO) primarily focuses on:
- Reducing trade barriers: The WTO aims to lower tariffs, quotas, and other obstacles that hinder international trade.
- Facilitating trade: The WTO provides a framework and forum for negotiations to promote smoother and more predictable trade flows.
- Settling trade disputes: The WTO has a mechanism for resolving trade disputes between member countries.
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