WTO (World Trade Organization)

The World Trade Organization (WTO) is an international body that serves as a global forum for negotiating and implementing agreements related to international trade. It was established in 1995 and replaced the General Agreement on Tariffs and Trade (GATT). The WTO’s mission is to help member countries expand their exports, reduce tariffs and other trade barriers, strengthen the rule of law in international trade, promote economic development, and address issues of concern to developing countries. The WTO provides a platform for the negotiation and implementation of agreements on trade services, goods and intellectual property, as well as other disputes between member countries. It enables countries to collaborate in revising WTO rules and regulations and settling trade disputes through arbitration and consultation among members. The WTO also serves as a forum for governments and companies to set standards for global trade, such as intellectual property and standards of competition. It also provides technical assistance to help countries strengthen their national trade systems.