Respuesta :
The 34 countries International Economic Organization was established in 1961 to promote global commerce and economic growth.
To benefit from the expanding global commerce, almost every nation exports and imports goods. If the nations adhere to a common set of import and export-related laws, regulations, and standards, the growth of international commerce can be boosted.
Different International Economic Agencies have established these common laws and standards. These organizations work to create economic cooperation between nations and level the playing field for all nations.
These organizations support the stabilization of exchange rates by assisting in the resolution of currency disputes between nations. There are three main organizations for International trade and commerce: the WTO, the IMF, and UNCTA.
WTO: The WTO's principal goal is to assist international organizations in running their operations. The ways WTO supports economic cooperation are
- Improving people's quality of life, fostering full employment, boosting economy and trade, and making the best use of the world's resources
- Making sure that emerging and less developed nations account for a bigger portion of world trade.
- Introducing sustainable development, which aims to promote the concurrent, balanced expansion of trade and the environment.
IMF: IMF was founded in 1945 and has 187 member nations. It seeks to ensure financial stability, foster international monetary cooperation, ease commerce between nations, combat poverty, and support global economic progress. IMF facilitates economic cooperation by
- Aiding in expanding people's real income and employment
- Resolving the global monetary issues that hinder the economic growth of many countries.
- Preserving consistency in global exchange rates
- Increasing the countries' economic stability
- Supplying money to member countries as and when needed
- Keeping track of member countries' financial and economic policies
- Helping less developed nations manage their economy successfully.
There are 150 members in a total of the WTO and IMF. As a result, they both collaborate, with the IMF concentrating on the global financial and monetary system and the WTO on global commerce.
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