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Introduction

image of Introduction

The World Trade Organization (WTO) came into existence on 1 January 1995 as a result of the Uruguay Round of Trade Negotiations. It is responsible for overseeing the multilateral trading system which has gradually evolved over the last 50 years. WTO also provides a forum for continuing negotiations to liberalize the trade in goods and services through the removal of barriers and to develop rules in new trade-related subject areas. The WTO Agreements have a common dispute settlement mechanism through which Members enforce their rights and settle the differences that arise between them in the course of implementation.

Related Subject(s): International Trade and Finance
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