What is the history of the WTO?

Can you tell me about the history of the WTO?

The World Trade Organization (WTO) was established on January 1, 1995, succeeding the General Agreement on Tariffs and Trade (GATT). It aims to regulate international trade and ensure that trade flows as smoothly, predictably, and freely as possible.

What led to the creation of the WTO?

The WTO was created to address the need for a more robust framework for international trade after the failures of GATT in the 1980s and 1990s. The Uruguay Round negotiations, which lasted from 1986 to 1994, were crucial in establishing the WTO.

What are some key agreements made by the WTO?

Some key agreements include the Trade-Related Aspects of Intellectual Property Rights (TRIPS), the General Agreement on Trade in Services (GATS), and various agreements on agriculture and textiles.

How does the WTO resolve trade disputes?

The WTO has a structured dispute resolution process that involves consultations, panel reports, and the possibility of appeals. This process helps member countries resolve trade disputes fairly.