World Trade Organization (WTO)

The World Trade Organization (WTO) regulates international trade between countries, ensuring that trade flows smoothly, predictably, and freely. It provides a framework for negotiating trade agreements and resolving disputes.

The WTO handles agreements covering goods, services, and intellectual property. It includes major agreements like the General Agreement on Tariffs and Trade (GATT), the General Agreement on Trade in Services (GATS), and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

The WTO operates through a structured process involving rounds of negotiations. It features notable rounds such as the Uruguay Round, which led to the creation of the WTO, and the Doha Development Round, which addresses issues important to developing countries.

The Dispute Settlement Body (DSB) of the WTO resolves disputes between member countries. Key cases have included disputes over subsidies in agriculture, intellectual property rights, and trade barriers.

Membership in the WTO includes 164 member countries. Key members include the United States, China, the European Union, Japan, and India.

The WTO’s decision-making processes are generally consensus-based. The Ministerial Conference is the highest decision-making body, meeting approximately every two years.