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ACCA Applied Skills · Corporate and Business Law (Global) · International trade, international legal regulation and conflict of laws

Which of the following is the main function of the World Trade Organization (WTO)?

The WTO provides a rule-based framework for trade between member states, a forum for trade negotiations and a mechanism for settling disputes between states. It does not fix prices or adjudicate private commercial contract disputes between companies.

  1. AProviding a framework of rules for trade between member states and a forum for settling trade disputesCorrect
  2. BSetting the price of goods traded between private companies in different countries
  3. CActing as the court that hears all contract disputes between international buyers and sellers

Explanation

The WTO administers agreements that set rules for trade between its member states, runs negotiations to reduce trade barriers and operates a dispute settlement system between states. It does not set private prices or hear private contract claims, so the other options are wrong.

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