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About WTO
International trade is regulated and facilitated by the World Trade Organization (WTO), an intergovernmental organization with its headquarters located in Geneva, Switzerland. In collaboration with the United Nations System, governments utilize the organization to create, amend, and uphold the laws that regulate international trade.
With 164 member states comprising more than 98% of global commerce and GDP, the World commerce Organization (WTO) is the largest international economic organization in the world. By offering a framework for trade agreements, which are typically aimed at reducing or eliminating tariffs, quotas, and other restrictions, the WTO facilitates trade in goods, services, and intellectual property among member nations.
These agreements are signed by representatives of member governments and ratified by their legislatures. In order to enforce parties’ adherence to trade agreements and settle trade-related disputes, it also manages impartial dispute resolution.
- Organization: World Trade Organization
- Abbreviation: WTO
- Type: Intergovernmental organization
- Founded: 1 January 1995
- Legal status: Active
- Headquarters: Geneva, Switzerland
- Head: Fernando Arias
- Membership: 193 member states
- Official website: www.wto.org
Latest WTO Kenya Job Vacancies 2024
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