Question

An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the __________.

Answer 1

The correct answer that would best complete the given statement above would be the WORLD TRADE ORGANIZATION. An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the World Trade Organization. The 152 member countries account for more than 97% of world trade.