The important objectives of WTO are : (i) To improve the quality of technology in the member countries. (ii) To improve the standard of living of people in the member countries. (iii) To ensure full employment and broad increase in effective demand. (iv) To enlarge production and trade of goods. (v) To increase trade of services Codes :
(ii), (iii), (iv) and (v)
The objectives of the WTO are set out in the Preamble to the Marrakesh Agreement (1994), which carried forward the GATT aims and widened them to services and sustainable development.
(ii) Raising standards of living in member countries is the first aim named in the Preamble, so it is an objective.
(iii) The Preamble speaks of ensuring full employment and a large and steadily growing volume of real income and effective demand, so this is an objective.
(iv) and (v) The Preamble aims at expanding the production of and trade in goods and services. Services were brought in through the General Agreement on Trade in Services (GATS), which marks a key difference from the GATT, so both are objectives.
(i) Improving the quality of technology in member countries is not a stated objective. Technology appears only indirectly (for example in the TRIPS Agreement), and the WTO is a trade body, not a technology-development agency.
So the objectives are (ii), (iii), (iv) and (v).
Hence, (ii), (iii), (iv) and (v).
Similar Questions
Which of the following are the outcomes of the Sixth Ministerial Conference of WTO which was held at Hong Kong in December 2005 ?
Select the correct combination :
(i) Resolve to complete the Doha Work Programme fully and to conclude negotiations in 2006.
(ii) Amendments to TRIPS agreement reaffirmed to address public health concerns of developing countries.
(iii) To continue export subsidies in agriculture upto 2018.
(iv) Duty free, quota free market access for all LDC’s products to all developed countries.
Codes :
Which among the following are criticisms given against World Trade Organization (WTO) ?
(a) It is not a democratic and transparent institution.
(b) It has domination of international trade by rich countries for the benefit of their individual interests.
(c) It encourages a ‘race to the bottom’ in wages by pitting workers against each other rather than promoting internationally recognized labor standards.
(d) It is seeking to privatize essential public services.
Codes :
Important Questions from World Trade Organisation (WTO)
- Intellectual property rights regime is managed by :
The Government of India appointed ______ as the country's G20 Sherpa in September 2021.
Nearly ___________________ countries of the world are currently members of the WTO. (as on June 2014)
Sequence the following different settlement stages of the WTO dispute settlement System.
A. Retaliation
B. Implementation
C. Panel Review
D. Appellate
E. Consultations
Choose the correct answer from the options given below:
Which combination of the following is correct with regard to World Trade Organization (WTO) :
(a) WTO initiates peace process among the member countries to enhance international trade.
(b) WTO avoids the task of “Settlement of Disputes” among the member countries.
(c) WTO administers the “Trade Review Mechanism”.
(d) WTO cooperates in an appropriate manner with the IMF and the World Bank.
Codes :
