Write any two principles of WTO.

The World Trade Organization (WTO) operates on several key principles that guide international trade. Here are two fundamental principles:

1. Non-Discrimination (Most-Favored-Nation and National Treatment)

   • Most-Favored-Nation (MFN): This principle requires that member countries extend the same trade concessions to all WTO members. If a country grants a favorable tariff rate or trade benefit to one member, it must apply the same to all other members. This ensures fairness and prevents trade discrimination.
   • National Treatment: Once goods are imported into a country, they must be treated no less favorably than domestically produced goods. This principle promotes equal competition for foreign and local products.

2. Free Trade and Reduction of Trade Barriers

   • The WTO encourages member countries to reduce trade barriers such as tariffs, quotas, and subsidies to facilitate smoother and more efficient global trade. By lowering these barriers, the WTO aims to expand market access, increase trade volume, and promote economic growth. This principle aligns with the broader goal of creating a more open and integrated global economy.