International Trade | MCQs

Explanation

WTO: World Trade Organization

WTO members: 164

WTO headquarters: Geneva, Switzerland

WTO was created on January 1, 1995

WTO official languages: English, French, Spanish

WTO is the successor of General Agreement on Tariffs and Trade (GATT).

Pakistan joined World Trade Organization (WTO) on 1 January 1995.

World Trade Organization (WTO) was established in 1995 with the objectives:

1. To Protect Intellectual Property Rights
2. To Promote Free Trade In The World
3. To Remove Quota Restrictions in Foreign Trade

Explanation

The largest Arms Importer in the World is India

In 2021 India was the largest country of arms exporters.

Top Five largest arms importers in the world. 

The five largest arms importers in 2018–23 were

• India,
• Saudi Arabia,
• Qatar,
• Australia, 
• China. 

Top Five largest arms exporters in the world

The five largest arms exporters were

•  United States,
• Russia,
• France,
• China,
• Germany.

SH 9-8-2023

Explanation

• China is the biggest cotton-producing country.
• ***
• China has 7,500 textile companies, which produce US $73 billion of cotton cloth annually.
  
• The second largest producer of cotton: India

• The third largest producer of cotton. USA

• AGM 02.05.2023
  

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Explanation

Algeria Capital is Algiers.

Algeria Currency is Algerian Dinar.

Algeria official language is Arabic; Tamazight; French.

Algeria located in Continent Africa.

Algeria Primary religion is Islam.

Algeria head of Govt is Prime Minister – Aymen Benabderrahmane.

Algeria Parliament called National People’s Assembly.

Tricks for Remember

DINAR

 K-S in J-A-I-L

**K-S**

K-Kuwait

S-Sudan

**J-A-I-L***

J-Jorden

A-Algeria

I-Iraq

L-Libya

RK22-11-2022

Explanation

Pakistan's largest exports go to the United States.

the most common destinations for exports in Pakistan are the:

United States ($5.51B)

China ($3.25B)

Germany ($2.53B)

United Kingdom ($2.21B)

United Arab Emirates ($1.28B)

Explanation

The Silk Route is also known as Karakoram Highway

The silk road connects Pakistan and China.

The total length is approximately 1,300 kilometers, of which 887 kilometers are in Pakistan and 413 km in China.

The silk road is considered a symbol of Pakistan-China's eternal friendship

The highway meets the Pakistani-Chinese border at Khunjerab Pass

Explanation

Khunjrab pass connects Pakistan with China.

Location: Hunza Pakistan - administered Gilgit–Baltistan and Xinjiang, China

Road name: N-35

Range: Karakoram

rk3-9-23

Explanation

The United States is the world's largest arms exporter.

It accounted for 37% of global arms sales between 2016 and 2020, and 38.6% between 2017 and 2021, according to SIPRI.

The U.S. is followed by Russia, France, China, and Germany.

U.S. arms exports increased by 15% between 2016 and 2020 compared to the previous five years.

Explanation

Currently, about 80% of the world’s goods trade by volume is carried on ships.

Maritime transport is crucial, handling over 70% of global trade by value.

Explanation

• Suez Canal is considered to be the greatest shipping Canal of the world.
• Since its completion in 1869, it has become one of the world's most heavily used shipping lanes