Which of the following international agencies allow free trade and work on mutual trade between countries? a. wto b. imf c. upu d. fao

Learning Objective • Discuss the various initiatives designed to reduce international trade barriers and promote free trade. A number of organizations work to ease barriers to trade, and more countries are joining together to promote trade and mutual economic benefits. Let’s look at some of these important initiatives. World Trade Organization Based in Geneva, Switzerland, with nearly 150 members, the Affected members aren’t always happy with WTO actions. In 2002, for example, the Bush administration imposed a three-year tariff on imported steel. In ruling against this tariff, the WTO allowed the aggrieved nations to impose counter-tariffs on some politically sensitive American products, such as Florida oranges, Texas grapefruits and computers, and Wisconsin cheese. Reluctantly, the administration lifted its tariff on steel (Buckley, 2006; Benjamin, 2003). Financial Support for Troubled Economies The key to helping developing countries become active participants in the global marketplace is providing financial assistance. Offering monetary assistance to some of the poorest nations in the world is the shared goal of two organizations: the International Monetary Fund and the World Bank. These organizations, to which most countries belong, were established in 1944 to accomplish different but complementary purposes. Criticism of the IMF and the World Bank In recent years, the International Monetary Fund and the World Bank have faced mounting criticism, though both have their s...

WTO Explanation: • The World Trade Organization (WTO) is an international organization founded to liberalize global trade and promote cross-national trade. • The International Monetary Fund (IMF) is an organisation that serves as a watchdog over the world's currencies and helps to stabilize the global monetary system. • The Universal Postal Union aims to advance socioeconomic development and contribute to the achievement of the UN SDGs. • FAO improves nutrition, increases agricultural productivity, raises the standard of living for rural populations, and contributes to global economic growth. Thus, the correct answer is WTO.