Which of the following statements about the World Trade Organization (WTO)is most accurate?
A) The WTO is a permanent institution that sets rules governing trade between its members.
B) The WTO sets rules governing trade between its members and the remainder of the world.
C) The 153 member countries of the WTO account for approximately 55 percent of world trade.
D) The WTO uses panels of trade experts who can issue non-binding recommendations.
E) The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The World Trade Organization (WTO) is a permanent institution that sets rules governing trade between its members. It was established in 1995 and consists of 164 member countries. Its main functions include negotiating and implementing new trade agreements, resolving trade disputes between members, and monitoring national trade policies. The WTO is not part of the United Nations system, but it works closely with the UN and other international organizations. As of 2021, the 164 member countries of the WTO account for approximately 98 percent of world trade.

Which of the Following Statements About the World Trade Organization