What is the World Trade Organization (WTO)?
The World Trade Organization (WTO) is an international body that manages global trade rules. It sets the rules for international trade between countries and sets the rules in areas such as trade in services, intellectual property, and investment. It has 164 members, including the United States and many other countries. The WTO works to make sure trade is conducted fairly in all countries, so that no country has an unfair advantage over others. The WTO helps to ensure that no country makes laws or regulations that discriminate on the basis of nationality, or that create barriers to trade. It also helps to resolve conflicts between countries by providing a forum where countries can come together to negotiate solutions to their trade disputes. The WTO also provides a platform for countries to discuss economic policies, and to negotiate agreements on reducing tariffs and other trade barriers. In addition, the WTO organizes international trade forums and conferences, bringing together industry representatives from around the world. The WTO also provides technical assistance to help developing countries improve their economies and gain access to global markets. The WTO has headquarters in Geneva, Switzerland and is governed by its member countries. The WTO is responsible for the negotiation of trade agreements, but its decisions must be accepted by all members in order for them to be adopted. By helping to reduce trade barriers and provide a forum for countries to negotiate better terms, the WTO has helped to foster economic growth and development throughout the world.
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