With reference to the World Trade Organisation (WTO), consider the following statements : I. Its headquarters are located in Geneva, Switzerland. II. As of December 2024, it has 166 member countries. III. India is a founding member of the organisation. IV. It was established in 1945 along with the United Nations system. Which of the statements given above are correct?
WTO Statements Analysis
An examination of the provided statements concerning the World Trade Organisation (WTO).
Statement I: Headquarters Location
The WTO's main offices are situated in Geneva, Switzerland. This statement is accurate.
Statement II: Member Countries Count
The question posits that as of December 2024, the WTO has 166 member countries. This statement is considered correct within the context of this question.
Statement III: India's Founding Membership
India is recognized as a founding member of the WTO, having been instrumental in establishing the organization. This statement is true.
Statement IV: Establishment Year
This statement claims the WTO was established in 1945 along with the United Nations. While the UN originated in 1945, the WTO was officially created on January 1, 1995. Thus, this statement is factually incorrect.
Identifying Correct Statements
Summary of the statements' validity:
- Statement I: Correct (Geneva HQ)
- Statement II: Correct (Member count as per question context)
- Statement III: Correct (India founding member)
- Statement IV: Incorrect (Established 1995, not 1945)
The statements identified as correct are I, II, and III.
Important Questions from International Economic Organisations & India
- As per the latest trade agreement in Bali Ministerial Conference of WTO, India and other developing and under developed countries can launch food security programmes :
- Which International Organisation replaced the General Agreement on Tariffs and Trade (GATT) in 1995, acting as a key driver for globalization?
- Which of the following most suitably captures the meaning and essence of 'globalization'?
1. It is about conducting external relations between two or more States of the world
2. It is a process of coming together of world-wide social relations bypassing territories
3. It refers to thinking transterritorially about global risks affecting people
4. It has a wishful vision of suprastate governance
Select the correct answer using the code given below : The basic foundation of global economic governance in the post second World War was laid by various institutional frameworks. Which of the following combinations is correct?
a) IMF, World Bank, GATT
b) IMF, World Bank, Asian Development Bank
c) World Bank, GATT, BRICS
d) Asian Development Bank, IMF, IBRD
Options:
- The Union Cabinet had approved a new Framework on Currency Swap Arrangement with which regional bloc for the period 2024-2027?
