Question
Explain the benefits of WTO.
Solution
Benefits are as under :
1. WTO helps promote international peace and facilitates international business.
2. All disputes between member nations are settled with mutual consultations.
3. Rules make international trade and relations very smooth and predictable.
4. Free trade improves the living standard of the people by increasing the income level.
5. Free trade provides ample scope of getting varieties of qualitative products.
6. Economic growth has been fastened because of free trade.
7. The system encourages good government.
8. WTO helps fostering growth of developing countries by providing them with special and preferential treatments in trade related matters.
