The World Trade Organization (WTO), established on January 1, 1995, oversees global trade agreements and facilitates trade negotiations among 166 member countries. Its key functions include resolving trade disputes, monitoring trade policies for transparency, and supporting developing countries in global trade. Major agreements under the WTO include GATT, GATS, TRIPS, and the Agreement on Agriculture.

1. WTO Overview
A Crucial Element
of
International
Business
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What is the WTO?
Headquarters
Purpose
Geneva, Switzerland
Oversees and enforces global trade
agreements
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The World Trade Organization (WTO) is an international
body that regulates global trade, ensuring trade flows
freely, fairly, and smoothly between countries.
Founded
January 1, 1995 (Replaced GATT)
Member Countries
166 Countries since Aug 2024

3. Functions of the WTO
Trade Negotiation Platform:
Facilitates trade agreements.
Dispute Resolution: Provides a
legal mechanism for resolving
international trade conflicts.
Trade Policy Monitoring: Ensures
transparency in trade policies.
Capacity Building: Helps
developing countries participate in
global trade.
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4. Major WTO Agreements
GATT (General Agreement on Tariffs
and Trade)
Trade in goods
GATS (General Agreement on Trade in
Services)
Trade in services (e.g., finance, telecom)
TRIPS (Trade-Related Aspects of
Intellectual Property Rights)
Protecting intellectual property
AoA (Agreement on Agriculture)
Agricultural trade
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5. MCQ
Q. Which 2 of the following are functions
of WTO?
a. To facilitate the implementation,
administration & operation of trade
agreement
b. To carry out periodic reviews of
trade policies of its member countries
c. To assist in establishment of a
multi-lateral system of payments
d.Offereing loans to countries
1 : a and d 2 : b and c
3 : a and c 4 : a and b
Ans: Option 4 : a and b
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