The World Trade Organization: Purpose and Functions
The World Trade Organization (WTO) plays a pivotal role in global trade, regulating international commerce and facilitating agreements. Established in 1995 under the Marrakesh Agreement, the WTO expanded upon the General Agreement on Tariffs and Trade (GATT), addressing not just goods but also services and intellectual property. Despite facing challenges like market uncertainties and government-imposed restrictions, the WTO continues to promote smooth and predictable trade. This essay explores the WTO’s history, purpose, and impact on the global economy.
References
Rodrik, D. (2012). The globalization paradox : Democracy and the future of the world economy. W.W. Norton & Company.
World Trade Organization. (2020a). The WTO in brief. Web.
World Trade Organization. (2020b). The WTO’s 25 years of achievement and challenges. Wto.Org. Web.
Reference
StudyCorgi. (2025, April 24). The World Trade Organization: Purpose and Functions. https://studycorgi.video/the-world-trade-organization-purpose-and-functions/