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WTO: The journey so far - OrissaPOST


WTO: The journey so far
Dasarathi Mishra
The World Trade Organisation (WTO), the first multi-lateral global organisation with rule enforcement rights saw the light of the day on 1 January 1995.
The WTO succeeded the General Agreement on Tariffs and Trade (GATT) which had regulated world trade since 1948. Over the past 25 years, the WTO has made a major contribution towards strengthening and stabilising the global economy, helping to boost trade, resolve numerous disputes and bringing forth developing countries into the trading system. The main objective of WTO is to ensure that trade flows smoothly, predictably and freely. Former Director General of WTO Roberto Azevedo recently made a significant statement: “Global trading system continues to face significant challenges. There is an urgent need to ease trade tensions, resolve systemic issues and further modernise rulebook. By doing so, we can ensure that the WTO continues to provide stability and predictability for t ....

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