South Asian Association for Regional Co-operation (SAARC) is the regional inter governmental organization and geo-political union of nations in South Asia.

WTO is World Trade Organisation.

1. From 1st October 2016 SDR basket consists of US dollar, Euro, the Chinese Renminbi, Japanese Yen and British Pound sterling.
2. The value of SDR is regularly posted daily in IMF website.
3. It is calculated as the sum of specific amount of each basket currency value in US dollar based on the spot exchange rates observed at noon London time.

Affiliates of World bank group:
1. International Development Association (IDA)
2. International Financial corporation (IFC)
3. Multinational Investment Guarantee Agency(MIGA)
4. International Centre of Settlement of Investment Dispute (ICSID)

1. International business involved complex issues among various countries way back in 1950's.
2. A keen need then was felt to establish separate mechanism for regulating and controlling trade relation across the countries around the world.
3. As a result, the General Agreement on Tariffs and Trade.
4. GATT was signed at Geneva on 30^th October 1947 by 23 countries.
5. It came into effect on 1^st January, 1948.
6. GATT achieved many success but various countries felt the need to create a new international body to replace the GATT.
7. This led to the establishment of World Trade Organisation (WTO) on 1^st January, 1995.

Benefits of WTO:
Some of the major benefits of WTO are as follows:
(i) WTO is promoting international peace and creating a conducive environment for conducting international Trade.
(ii) It settles the Trade disputes amicably among the member countries.
(iii) It promotes the standard of living of people by increasing their income level from free trades.
(iv) WTO has removed quantitative restrictions and non-tariff barriers. It has facilitated free flow of foreign trade among the member countries.
(v) The countries can impose import restrictions only to correct balance of payments difficulties and not otherwise.
(vi) It stimulates economic growth of developing countries by providing them with much needed capital and giving them preferential treatment in trade and related matters.
(vii) WTO organises periodical regional and international conference. Thus developing countries get opportunity to learn the technicalities, rules and regulations, governing world trade, technical assistance available globally, trade potentials in member countries and so on.
(vii) WTO gives people across the world a wider choice of goods and broader range of qualities to choose from by promoting free trade among the member countries.
(viii) WTO has lowered trade barriers and thereby allowed trade to flourish across the world. The increase in trade contributes to increase in national income and personal income of people.
(ix) WTO provides a platform for member countries to establish trade link with one another.
(x) In the absence, of WTO member countries may have to - enter many multilateral agreement with so many countries across the world.
(xi) It provides greater access to all nations under one roof.
(xii) WTO is committed to protecting free trade. It has framed rules on subsidies and dumping.

Objectives of WTO:
The objectives of WTO include the following:
(i) Improving the standard of living of people in member countries.
(ii) Making optimum utilisation of world's resources for sustainable development of member countries.
(iii) Promoting an integrated more viable and durable trading system in the sphere of international business.
(iv) Expansion of trade in goods and services.
(v) Ensuring full employment and large steady growing volume of real income and effective demand.
(vi) Protecting the environment.