What is the role of World Trade Organization (WTO) in international trade?

What is the function of the World Trade Organization in regulating international trade?

Answer:

The World Trade Organization (WTO) is responsible for overseeing and regulating international trade agreements between countries.

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade between nations. It was established in 1995 and is headquartered in Geneva, Switzerland.

One of the main functions of the WTO is to ensure that trade flows as smoothly, predictably, and freely as possible. It aims to create a level playing field for all member countries by promoting fair competition and removing trade barriers.

The WTO also provides a forum for member countries to negotiate and resolve trade disputes. It helps countries to come to agreements on trade policies and rules, and provides a system for monitoring and enforcing these agreements.

Overall, the WTO plays a crucial role in promoting global trade and economic growth by facilitating the smooth functioning of international trade relations.