The World Trade Organization
- [World Trade Organization]
- Overview
The World Trade Organization (WTO) is an intergovernmental organization that manages the rules of international trade. The WTO's goal is to make trade flow smoothly and predictably, which can help improve people's lives.
- The Functions of the WTO
- Negotiates and enforces trade rules,
- Helps developing countries improve their trade capacity,
- Provides a forum for members to resolve trade disputes,
- Promotes sustainable development.
Governments work together with the WTO to establish, revise, and enforce trade rules
WTO agreements are negotiated and signed by member countries, and then ratified by their parliaments.
- The History of the WTO
The WTO succeeded the General Agreement on Tariffs and Trade (GATT), which was created in 1947.
The Marrakesh Agreement Establishing the World Trade Organization was signed in April 1994.
Dr. Ngozi Okonjo-Iweala is the seventh Director-General of the WTO. She took office in March 2021, becoming the first woman and the first African to hold the position.
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