What are two major trade alliance?

Two major trade alliances are:

1. World Trade Organization (WTO)

- Established in 1995, the WTO is an intergovernmental organization that regulates and facilitates international trade.

- It sets the rules for international trade and resolves trade disputes between member countries.

- The WTO has 164 member states, which account for over 98% of global trade.

2. European Union (EU)

- The EU is a political and economic union of 27 member states that are located primarily in Europe.

- The EU has a single market for goods, services, capital, and labor, and operates a common trade policy.

- The EU is the largest trading bloc in the world, accounting for about 16% of global trade.

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