The World Trade Organization (WTO) is the sole global international organization concerned with international trade rules.
What is trade organization?
- It is a trade opening organization. It serves as a venue for governments to negotiate trade treaties. It is a location where they can settle trade disputes. It has a set of trade rules in place.
- In summary, the World Trade Organization (WTO) is the only international organization that deals with global trade rules. Its primary function is to keep trade flowing as smoothly, predictably, and freely as possible.
- The WTO manages the global trade rules system and assists developing countries in increasing their trade capacity. It also serves as a forum for its members to negotiate trade agreements and resolve trade disputes with one another.
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