Identify a true statement about the World Trade Organization (WTO).
A)It is beyond the scope of the WTO to monitor the provisions of the General Agreement on Tariffs and Trade (GATT).
B)Ministers of the WTO meet every five years to address current world trade issues.
C)The WTO promotes reduction of trade barriers and mediates disputes among members.
D)It is beyond the scope of the WTO to settle international trade disputes.

Question

Quizplus · Accepted Answer

The WTO promotes reduction of trade barriers and mediates disputes among members. It is incorrect to state that the WTO cannot settle international trade disputes, as this is one of its main functions. It is also incorrect to state that the WTO does not monitor the provisions of the GATT, as the GATT is the precursor agreement that established the WTO, and it is part of the WTO's mandate to oversee its implementation. Option B is also false, as Ministerial Conferences are held every two years, not every five years.

Identify a True Statement About the World Trade Organization (WTO)