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The '''World Trade Organization''' ('''WTO''') is an intergovernmental organization that regulates and facilitates international trade. Officially commencing on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, the WTO replaced the General Agreement on Tariffs and Trade (GATT), which had been in effect since 1948 (World Trade Organization, n.d.-a). The WTO is the world's largest international economic organization, with Member states of the World Trade Organization|166 member states as of 2026, representing over 98% of global trade (World Trade Organization, n.d.-b). | |||
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Latest revision as of 13:45, 5 May 2026
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. Officially commencing on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, the WTO replaced the General Agreement on Tariffs and Trade (GATT), which had been in effect since 1948 (World Trade Organization, n.d.-a). The WTO is the world's largest international economic organization, with Member states of the World Trade Organization|166 member states as of 2026, representing over 98% of global trade (World Trade Organization, n.d.-b). Continue ...