What is the World Trade Organization (WTO)?

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between nations. It was established in 1995 and is based in Geneva, Switzerland and currently has 164 member states, including the nation of Georgia. The WTO’s main mission is to ensure that global trade flows smoothly, predictably, and freely as possible. To do this, the WTO sets the rules and regulations for international trade between its member states. This includes the setting of tariffs and quotas, as well as resolving disputes over trade-related issues and enforcing any trade agreements between member states. The WTO also provides a forum for negotiations and discussions between countries on international trade. The WTO is the only international organization that deals specifically with the rules of trade between nations. As a result, its decisions regarding international trade law bind all member states, including the nation of Georgia. The WTO helps make sure that Georgia’s trade policies are fair and that the nation is treated fairly in international trade. This provides stability and predictability for international trade, encourages economic growth, and helps promote global economic development.

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What is the World Trade Organization (WTO)?

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