WTO (World Trade Organization)

The World Trade Organization (WTO) is an international body that regulates and facilitates trade between countries. Its main functions are to ensure that trade flows smoothly, predictably, and freely by providing a framework for negotiating trade agreements and resolving disputes. Established in 1995, the WTO aims to reduce trade barriers like tariffs and quotas, helping to promote global economic growth and cooperation. Member countries benefit from fair competition and market access, while also committing to uphold agreed-upon trade rules. The organization plays a crucial role in shaping the global trading system and addressing trade-related challenges.