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Q. World trade organisation (WTO) as a multilateral body is facing challenges on various counts. In this light discuss the relevance of WTO and also suggest suitable reform in its functioning.

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Structure of the answer:

Model Answer

WTO was set up under Marrakesh Treaty (1994) and as an organization aim to improve living standards, generate employment, and expand global trade.

However, in recent years WTO is facing challenges on various counts such as:

But, the WTO remains relevant considering the following points in its favour:

In light of the above challenges following reforms are required in functioning of WTO:

There is also a need for using other platforms for reform talks such as G20, which have the advantage of limited and effective global membership.

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