World Trade Organization (WTO) is the only international organization dealing with the global rules of
trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and
freely as possible. It is an organization for trade opening. It is a forum for governments to negotiate
trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules.
Essentially, the WTO is a place where member governments try to sort out the trade problems they face
with each other. The WTO was born out of negotiations, and everything the WTO does is result of
negotiations. The bulk of the WTO’s current work comes from the 1986–94 negotiations called the
Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The
WTO is currently the host to new negotiations, under the ‘Doha Development Agenda’ launched in
2001.
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