WTO meaning in Banking ?

Answer:

What is World Trade Organisation mean?

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 96% of global trade and global GDP.

The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governments: fol.9–10 and ratified by their legislatures. The WTO also administers independent dispute resolution for enforcing participants' adherence to trade agreements and resolving trade-related disputes. The organization prohibits discrimination between trading partners, but provides exceptions for environmental protection, national security, and other important goals.

The WTO is headquartered in Geneva, Switzerland. Its top decision making body is the Ministerial Conference, which is composed of all member states and usually convenes biannually; consensus is emphasized in all decisions. Day-to-day functions are handled by the General Council, made up of representatives from all members. A Secretariat of over 600 personnel, led by the Director-General and four deputies, provides administrative, professional, and technical services. The WTO's annual budget is roughly 220 million USD, which is contributed by members based on their proportion of international trade.

Studies show the WTO has boosted trade and reduced trade barriers. It has also influenced trade agreement generally; a 2017 analysis found that the vast majority of preferential trade agreements (PTAs) up to that point explicitly reference the WTO, with substantial portions of text copied from WTO agreements. Goal 10 of the United Nations Sustainable Development Goals also referenced WTO agreements as instruments of reducing inequality. However, critics contend that the benefits of WTO-facilitated free trade are not shared equally, citing the outcomes of negotiations and data showing a continually widening gap between rich and poor nations.

reference

Full Form	Category
Wotho Island	Airport Code
World Trade Organisation	Banking
Working Together Organization	Business
World Travel Operations	Community
Write To Operator	Computer Assembly Language
Well, That's Odd	Computing
World Toilet Organization	General
Weighted Topological Overlaps	General
Wind Tunnel Optimized	General
Wind Tunnel Optimised	General
World Tour Organisation	General
World Transport Organization	General
West Tennessee Offroad	General
World Take Over	General
We Take Over	General
World Toilet Organisation	General
World Tyrannical Order	General
Washington Trade Opposition	General
Women Tackling Organisation	General
White Tie Optional	General
World Treaty Organization	General
The World Trading Organization	General
Worship The Oligarchy	General
The World Trade Organizaton	General
A Women Tour Operators	General
World's Troubles Originator	General
World Tyrant's Oligarchy	General
The Worlds Troubles Originator	General
We're Taking Over	General
White Trade Organisation	General
Western Trade Organisation	General
Watch This Organization	General
World Tourism Organization	Governmental
World Terror Order	Governmental
Wow, That's Odd	Internet
World Trade Organization	Messaging
Warsaw Treaty Organization	Military and Defence
Wotho Island, Marshall Islands	Regional