Hayat Ashraf

The World Trade Organization (WTO) is an international organization that deals with the global rules of trade between nations. It was established on January 1, 1995, succeeding the General Agreement on Tariffs and Trade (GATT) that was in place since 1948. The WTO serves as a forum for member countries to negotiate trade agreements, resolve trade disputes, and set the rules for international trade. Key features and functions of the World Trade Organization include: 1. Trade Negotiations: The WTO provides a platform for member countries to negotiate trade agreements. This includes the negotiation of tariff reductions, removal of trade barriers, and trade liberalization in various sectors. The most notable negotiation round was the Doha Development Agenda, launched in 2001 with the aim of addressing the trade needs and concerns of developing countries. 2. Dispute Settlement: The WTO has a dispute settlement mechanism to help member countries resolve trade disputes. It provides a structur...