The World Trade Organization, commonly known as the WTO, is an international organization that deals with the global rules of trade between nations. Established in 1995, the WTO aims to promote free trade by reducing barriers such as tariffs and quotas. It provides a forum for negotiating trade agreements, settling disputes, and monitoring the implementation of trade policies. The organization is based on the principles of non-discrimination, transparency, and predictability. Members of the WTO agree to abide by its rules and regulations, which are designed to create a level playing field for all countries. The WTO plays a crucial role in shaping the global economy and promoting economic growth.
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