Trade Organization

Question 1

APEC

Answer 1

• APEC, the Asia-Pacific Economic Cooperation, is a gathering of 21 different economies. All of the members have large economies, and each earn over 60% of the world’s GDP
• APEC focuses on providing wealth and economic success to the Asia-Pacific region.

Question 2

G20

Answer 2

The G20, an international organization comprising 19 countries and the European Union, was established in 1999 to coordinate policies for global economic stability and growth. Leaders of major economies meet to address issues like international trade, financial stability, and economic development. The G20 aims to tackle financial crises, trade disputes, and economic development, promoting sustainable and inclusive global growth by working together to find solutions.

Question 3

WTO

Answer 3

The WTO is an intergovernmental organization that regulates international trade. Its primary purpose is to
ensure that trade flows as smoothly, predictably, and freely as possible. It provides a framework for
negotiating trade agreements and resolving disputes among member countries. There are 164 member
countries in the WTO.

Question 4

G7

Answer 4

• G7 = group of seven
• Informal grouping of seven of the world’s advanced economies
• Leaders, ministers, and policy-makers to have an open discussion
• Brings together the world’s advanced economies to influence global trends, tackle issues as well as address crises.

Question 5

European union

Answer 5

The European Union is a unique & economical international organization made up of 27 countries, governing common economic, social & security policies “To make things better, safer and easier for people”

Question 6

OECD

Answer 6

• Helps confront challenges of a global economy by promoting economic growth, free markets, efficient use of resources
• Supported by Secretariat staff
• Works to build better policies for better lives

Question 7

IMF

Answer 7

The International Monetary Fund(IMF) is an organization that aims for sustainable global growth by promoting financial stability, cooperation, and productive economic policies. Its missions include fostering monetary cooperation, boosting trade and growth, and discouraging harmful policies.