The World Trade Organization (WTO) is an international organisation dealing with trading rules among member countries. Its main aim is to increase trade by promoting free trade (lowering trade barriers) and improving the flow of trade.
Main functions of the World Trade Organization:
- Provide legal ground-rules for international trade – basically a set of rules for governments to keep their trade policies (barriers) between certain limits
- Liberalise trade
- Provide a forum for trade agreement negotiations
- Settle trade disputes between member countries
To read more about the World Trade Organization check out their official website here.