WTO's Role in International Trade Finance | IIBF8Pro

WTO's Role in International Trade Finance | IIBF8Pro

Why WTO Matters in Global Trade

The World Trade Organization (WTO), established in 1995, serves as the backbone of international trade governance. With 164 member nations overseeing 98% of global trade, its three pillars - GATT (goods), GATS (services), and TRIPS (intellectual property) - create a rules-based system that benefits both developed and developing economies.

Key WTO Functions:

1️⃣ Administering multilateral trade agreements

2️⃣ Facilitating dispute resolution (over 600 cases since 1995)

3️⃣ Monitoring national trade policies

4️⃣ Technical assistance for developing nations

The Doha Development Agenda (2001) marked a turning point by prioritizing developing countries' needs, addressing challenges in agriculture, services, and non-tariff barriers. For IIBF certification aspirants, understanding WTO's dispute settlement body and Most-Favored Nation (MFN) principle is crucial.

IIBF Certification - International Trade Finance MCQs

⏳ Time: 05:00

📝 Question: 1/10

🏆 Score: 0/10

Quiz Results

Practice Test Takeaways

✅ Uruguay Round (1986-94) → WTO creation
✅ TRIPS covers patents/copyrights
✅ MFN = Non-discrimination between trade partners
✅ 1997 Telecom Agreement → 69 nations liberalized services

Pro Tip: WTO's Trade Policy Review Mechanism helps prevent disputes through transparency. Over 75% of developing countries use this annually.