- The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade and oversees trade agreements between member nations.
- It officially commenced on January 1, 1995 and replaced the General Agreement on Tariffs and Trade (GATT). The WTO has 164 member countries.
- The key objectives of the WTO are to help producers of goods and services, exporters, and importers conduct their business, while also ensuring fair competition. It provides a framework for negotiating and implementing trade agreements, and settling disputes through a dispute resolution process.