Which combination of the following is correct with regard to World Trade Organization (WTO) : 1. WTO initiates peace process among the member countries to enhance international trade. 2. WTO avoids the task of “Settlement of Disputes” among the member countries. 3. WTO administers the “Trade Review Mechanism”. 4. WTO cooperates in an appropriate manner with the IMF and the World Bank.

The correct answer is: C. 3 and 4

The World Trade Organization (WTO) is an international organization that deals with the rules of trade between nations. It was established in 1995 and replaced the General Agreement on Tariffs and Trade (GATT). The WTO’s main functions are to ensure that trade flows smoothly, to help countries negotiate trade agreements, and to resolve trade disputes.

The WTO does not initiate peace processes among member countries. This is the responsibility of the United Nations (UN). The WTO does, however, administer the Trade Review Mechanism, which is a system for reviewing the trade policies of member countries. The WTO also cooperates with the IMF and the World Bank in an appropriate manner.

Here is a brief explanation of each option:

1. WTO initiates peace process among the member countries to enhance international trade. False. The WTO does not initiate peace processes among member countries. This is the responsibility of the UN.
2. WTO avoids the task of “Settlement of Disputes” among the member countries. False. The WTO does have a dispute settlement mechanism, which is used to resolve trade disputes between member countries.
3. WTO administers the “Trade Review Mechanism”. True. The WTO administers the Trade Review Mechanism, which is a system for reviewing the trade policies of member countries.
4. WTO cooperates in an appropriate manner with the IMF and the World Bank. True. The WTO cooperates with the IMF and the World Bank in an appropriate manner.