Many Governments today are faced with a million dollar question – to liberalise or not. It is good for us to understand that the vast choices and competitive prices we pay for goods & products today are culmination of liberalisation through multilateral trade negotiations since 1947 under the auspices of the General Agreement on Tariffs and Trade (GATT) – now known as the World Trade Organisation (WTO). It must be noted that the WTO opened up markets and created rules to faciliate orderly conduct of global trade and prevented trade wars as well as global resources wastage.

Read more to understand WTO’s role and its contribution.