Definition of World Trade Organization



World Trade Organization or WTO was established in 1995 to oversee the global trade between countries. The base of WTO is the agreements signed by different countries with global trading. WTO help producers of goods and services, exports and imports of the businesses to protect and help them in managing their business.

 


In 2019, 164 countries are a member of WTO. WTO members are low trade barriers and taxes which help member countries to flourish their global trading. WTO also acts as a negotiation mediator between nations that help the global economy.

 

 


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