Consider the following statements relating to the World Trade Organization (WTO): 1. The WTO deals with the global rules of trade between nations. 2. The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business, 3. The WTO, which is a successor body of the General Agreement on Tariffs and Trade, came into being following the Uruguay Round of Negotiations. 4. The WTO distances itself in framing of rules on trade in. intellectual property rights. Which of the statements given above are correct ?

The World Trade Organization (WTO) is the primary international body dealing with the global rules of trade between nations [3]. Established on January 1, 1995, it serves as the successor to the General Agreement on Tariffs and Trade (GATT) following the conclusion of the Uruguay Round of negotiations [5]. Its core objective is to ensure that trade flows as smoothly and predictably as possible, thereby helping producers of goods and services, exporters, and importers conduct their business. Contrary to statement 4, the WTO does not distance itself from intellectual property; rather, it actively frames and enforces rules through the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which sets minimum protection standards for intellectual property among member nations [5]. Therefore, statements 1, 2, and 3 are correct, while statement 4 is false.

Sources

1. [2] FUNDAMENTALS OF HUMAN GEOGRAPHY, CLASS XII (NCERT 2025 ed.) > Chapter 8: International Trade > World Trade Or rade Organisation > p. 74
2. [3] Contemporary World Politics, Textbook in political science for Class XII (NCERT 2025 ed.) > Chapter 4: International Organisations > WTO > p. 57
3. [5] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 13: International Organizations > Uruguay/ Eighth Round (Sept 1986 - April 1994) > p. 377
4. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 13: International Organizations > WTO Agreements > p. 378
5. [4] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 13: International Organizations > 13.9 Trade Related Aspects of Intellectual Property Rights (TRIPS) > p. 388