World Trade Organization (WTO)

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. Established in 1995, replacing the General Agreement on Tariffs and Trade (GATT), the WTO aims to ensure trade flows as smoothly, predictably, and freely as possible. It provides a forum for negotiating trade agreements, a place to settle trade disputes, and a system of rules for international commerce that its 164 member states agree to follow. The organization works to lower trade barriers and ensure a level playing field for all, contributing to global economic stability and development.