Which of the following organization's aim is to "Liberalize" international trade?
Answer & explanation
Correct answer: option 2
World Trade Organization (WTO) is one such organization whose aim is to liberalize international trade. Started at the initiative of the developed countries, WTO establishes rules regarding international trade, and sees that these rules are obeyed. Though WTO is supposed to allow free trade for all, in practice, it is seen that the developed countries have unfairly retained trade barriers. On the other hand, WTO rules have forced the developing countries to remove trade barriers.