What is the purpose of the WTO?


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The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade.
The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries.
Q&A Related to "What is the purpose of the WTO?"
The purpose of the WTO (World Trade Organisation) is to ensure that global trade commences smoothly, freely and predictably The purpose of the WTO (World Trade Organisation) is to
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1 Additional Answer

Established in 1995, the WTO is headquartered in Geneva, Switzerland. The organization was born out of a set of negotiations, known as the Uruguay Round, held between most of the world's economies. The WTO describes itself as a proponent of free-flowing and reliable trade between nations but also introduces certain barriers to trade if they are required to protect consumers or inhibit the spread of disease.

Trade agreements are the main tool that the WTO uses to further global trade. These agreements regulate the trade of goods, services and intellectual property. Trade agreements spell out general policies for trade between members, and the WTO states that each agreement also contains a lengthy list of special commitments that exist between one member nation and another. The procedure for dispute resolution is another important component of trade agreements. Trade agreements are designed with the input of member nations and voted upon by members. More than 60 trade agreements have passed since the organization's inception, and they are periodically reviewed and revised.

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