Question

The prime purpose of WTO is to promote

• A. Financial Support
• B. Global Peace
• C. Unilateral Trade
• D. Multilateral Trade

Answer 1

The Correct Option is D

In the context of global economic policy, the World Trade Organization (WTO) primarily aims to promote multilateral trade. The WTO is an international organization established to oversee and facilitate international trade agreements, ensuring they are fair and equitable for all member countries. Its key objectives include:

• Reducing trade barriers: The WTO works towards eliminating tariffs and other barriers to trade, enabling free flow of goods and services between nations.
• Providing a platform for negotiations: It offers a space for member countries to negotiate trade agreements and resolve disputes that arise from them.
• Ensuring nondiscrimination: The WTO's principles emphasize that trade practices should be fair and non-discriminatory, promoting an equal opportunity environment for all countries.
• Increasing trade stability: By establishing recognized rules and frameworks, the WTO provides stability and predictability in trade relations.

Therefore, among the given options, Multilateral Trade is the correct answer, as it aligns with WTO's primary purpose of promoting cooperative and inclusive trade practices among multiple nations.