Logistics in Practice, Assessment 1
Name: Emad Fayz Althobiti
Date: 5/17
1) What do the abbreviations WTO and GATT stand for? (2marks)
WTO:
Stand for World Trade Organization
GATT:
Stand for General Agreement on Tariffs and Trade
2) Explain the role of the WTO. (2 marks)
(WTO) dealing with the global rules of trade Its main function is to ensure that trade
flows as smoothly predictably and freely as possible.
3)
What is the purpose of GATT? (2 marks)
the purpose of the GATT is the substantial reduction of tariffs and other trade
barriers and the elimination of preferences on a reciprocal and mutually
advantageous basis.
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