International Trade Organization (ITO)

The International Trade Organization (ITO) was a proposed global institution aimed at regulating international trade, promoting fair competition, and reducing trade disputes among countries. Established after World War II, its goal was to create a framework for consistent trade rules, much like how organizations like the World Trade Organization (WTO) operate today. Although the ITO was never formally created due to political disagreements, its ideas influenced the development of the WTO, which now manages international trade rules to ensure smooth and fair economic exchanges between nations.