Q.Name the three major agreements administered by the WTO and state what each covers.

The WTO's rulebook is organised around three separate agreements, each covering a different category of international economic activity. …

GATT (General Agreement on Tariffs and Trade), updated and incorporated into the WTO framework, covers international trade in goods — tariffs, quotas, and other barriers affecting merchandise trade.

GATS (General Agreement on Trade in Services) extends WTO rules to trade in services — such as banking, telecommunications, tourism, and professional services — recognising that trade increasingly involves services alongside physical goods. …

Assuming the WTO deals only with tariffs on physical goods — GATS and TRIPS show its scope extends well beyond merchan …