The World Trade Organization (WTO) is an international organization responsible for establishing trade standards among countries. The WTO was founded on January 1, 1995. By November 2015, 188 countries had joined the organization.

The WTO's agreements are negotiated and signed by the majority of the countries active in international trade. These agreements create the basic legal standards for international trade, and governments are obligated to ensure that their trade policies fall within the limits established by the WTO.

The objective of the World Trade Organization is to facilitate production of goods and services and streamline importing and exporting. The WTO provides oversight to ensure that undesirable secondary effects do not occur, thereby promoting economic development and well-being.

WTO functions:

  • Trade negotiations.
  • Applicability and validity periods for laws.
  • Resolution of disputes.
  • Creation of commercial capacity.
  • Outreach with other organizations.

WTO principles:

  • To be non-discriminatory.
  • To removal obstacles.
  • To be predictable and transparent.
  • To be more competitive.
  • To be more beneficial for developing countries.
  • To protect the environment.

You might also be interested in

  • Enjoy these advantages with no fees or conditions.
    • €0 for administration and maintenance of the account.
    • €0 annual debit card fee.
    • And of course, there's no need to arrange for your paycheck or bills to be directly paid into or debited from your account.

    Free, with no fees, conditions or paperwork.

    Only for new customers.

  • For young people between 18 and 29 years of age.
    • €0 for account administration and maintenance.
    • €0 annual debit card fee.
    • No need to deposit your paycheck.

    No fees if you use your card once a month (withdraw money, pay for purchases, etc.).