In 2015, the WTO is commemorating its 20th anniversary. Many different activities are planned throughout the year to mark this event. On the occasion of the WTO’s 20th birthday, Director-General Roberto Azevedo said: “20 years ago, on 1 January 1995, the WTO opened its doors for business. Since then this organization, and the system of transparent, multilaterally-agreed rules that it embodies, has made a major contribution to the strength and stability of the global economy. Over the years the WTO has helped to boost trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system.”
The WTO In brief:-The World Trade Organization (WTO) is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
What is the World Trade Organization?
Simply put: the World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level. But there is more to it than that.