Understanding the WTO: How Does It Impact Global Trade and Economic Growth?

garima kapoor
World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. It was established on January 1, 1995, to replace the General Agreement on Tariffs and Trade (GATT). The WTO deals with rules of trade between nations at a global or near-global level.

One of the main functions of the WTO is to ensure that trade flows as smoothly, predictably, and freely as possible. It provides a forum for negotiating trade agreements and has a dispute resolution process to handle conflicts between members.

Overall, the WTO plays a crucial role in facilitating international trade and promoting economic growth worldwide.
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