International Trade Organization

An International Trade Organization (ITO) is a global institution designed to promote and regulate trade between countries. Its goal is to create fair rules, reduce trade barriers like tariffs and quotas, and resolve disputes to ensure smooth and stable international commerce. By setting shared standards, the ITO helps countries trade more openly, encouraging economic growth and cooperation. Although the most famous effort, the General Agreement on Tariffs and Trade (GATT), eventually became part of the World Trade Organization (WTO), the concept of an ITO aimed to unify global trade policies under a single body for more effective oversight.