Definition Definition

World Trade Organization (WTO)

World Trade Organization (WTO) is the intra-governmental organization that applies rules to international trade and hears complaints rule has been violated. The World Trade Agreement replaced the General Agreement on Trade And Tariffs (GATT).

The World trade organization was created as a result of the Uruguay Round of trade negotiations that led to the GATT accord in 1993. This organization was established to provide a forum for multilateral trade negotiations and to settle trade disputes related to the GATT accord. It began its operations in 1995 with 81 member countries, and 162 members since 30 Novenber 2015. Member countries are given voting rights that are used to make judgments about trade disputes and other issues.


World Trade Organization (WTO) is the 153-member international institution that monitors GATT agreements and mediates international trade disputes.


World Trade Organization (WTO) is an organization headquartered in Geneva, Switzerland, that monitors rules for the conduct of trade between countries (tariffs and quotas).


World Trade Organization is an international economic organization formed in 1995 and based in Geneva, Switzerland, which is dedicated to promoting greater trade and investment among its members. Most countries in the world now belong to the WTO, and hence have committed to reducing tariffs on imports, reducing non-tariff barriers to trade, reducing restrictions on foreign investment, and generally following a pro-market vision of economic development.

 

Share it: CITE

Related Definitions