What is the main focus of the WTO's Trade Facilitation Agreement?
Practice Questions
Q1
What is the main focus of the WTO's Trade Facilitation Agreement?
Reducing tariffs on goods
Simplifying customs procedures
Promoting environmental standards
Enhancing labor rights
Questions & Step-by-Step Solutions
What is the main focus of the WTO's Trade Facilitation Agreement?
Step 1: Understand that the WTO stands for the World Trade Organization.
Step 2: Know that the Trade Facilitation Agreement is a set of rules created by the WTO.
Step 3: Recognize that the main goal of this agreement is to make it easier for countries to trade with each other.
Step 4: Focus on the idea of customs procedures, which are the rules and processes for importing and exporting goods.
Step 5: Realize that simplifying and streamlining these customs procedures means reducing delays and making it faster and cheaper to move goods across borders.
