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The World Trade Organization (WTO) was formed on January 1, 1995, replacing the General Agreement on Tariffs and Trades. It is a world-renowned organization that deals with trade disputation among countries. The purpose of the World Trade Organization is to lower trade barrier and encourage countries to trade with each other , promote fair competitions between countries and promote trade liberalization to accelerate economic growth and economic globalization. In addition, the World Trade Organization also want to reduce poverty in developing nations by international trade.
The World Trade Organization focus on four major areas:
What the World Trade Organization do?
Website:
https://www.wto.org/