SELECT * FROM question_mgmt as q WHERE id=5858 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=2 AND subId=32 AND chapterId=244 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 11th economics-indian-economic-development Liberalisation, Privatisation and Globalisation: An Appraisal why is it necessary to became a member of wto

Question:

Why is it necessary to became a member of WTO?

Answer:

It is important for any country to become a member of WTO (World Trade Organisation) for the following reasons:

i) WTO provides equal opportunities to all its member countries to trade in the international market.

ii) It provides its member countries with larger scope to produce at large scale to cater to the needs of people across the international boundaries. This provides ample scope to utilise world resources optimally and provides greater market accessibility.

iii) It advocates for the removal of tariff and non-tariff barriers, thereby, promoting healthier and fairer competition among different producers of different countries.

iv) The countries of similar economic conditions being members of WTO can raise their voice to safeguard their common interests.


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