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12 March, 07:35

Which of the following is an outcome of the General Agreement on Tariffs and Trades (GATT) and created global rules of trade between nations? A. Economic communities B. World Trade Organization C. Forex exchange D. World Bank E. International Monetary Fund

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  1. 12 March, 08:01
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    World Trade Organization

    Explanation:

    World Trade Organization is an outcome of the General Agreement on Tariffs and Trades (GATT) and created global rules of trade between nations.

    It was a multilateral treaty that was signed on the 30th of October 1947 in Geneva, Geneva Canton, Switzerland as a legal agreement among nations, with the aim of promoting international trade by eradication or reduction of trade barriers like tariffs or quotas.

    Furthermore, the purpose was extended to include "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." which can be described in substance as trading with each other on the basis of comparative advantage.
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Home » Business » Which of the following is an outcome of the General Agreement on Tariffs and Trades (GATT) and created global rules of trade between nations? A. Economic communities B. World Trade Organization C. Forex exchange D. World Bank E.
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