The World Trade Organization (WTO) (French: Organization mondiale du commerce) (Spanish: Organización Mundial del Comercio). It is a global organization based in Geneva, Switzerland, whose primary mission is to ensure the smoothest flow of trade, ease and freedom. It is the only global organization concerned with international laws dealing with trade between countries. The WTO includes 164 member states and 20 observer countries as of August 1, 2016.
The World Trade Organization was established on January 1, 1995. It is one of the most modern international organizations, and it is the successor to the General Agreement on Tariffs and Trade (GAAT), which was established in the aftermath of World War II, and although the WTO is still modern, the system The multilateral trade which was originally developed under the GATT is fifty years old.
The establishment of the World Trade Organization came after the world witnessed an exceptional growth in world trade, as merchandise exports increased by an average of 6% annually. The GATT and the World Trade Organization helped establish a strong and prosperous trading system, which contributed to unprecedented growth.
The system has evolved through a series of negotiations or trade rounds that were held under the banner of GATT. The first rounds dealt mainly with tariff reduction. Subsequent negotiations included other areas such as anti-dumping and non-tariff measures. The last round, held in Uruguay from 1986 to 1994, led to the creation of the World Trade Organization.
The negotiations did not end there, but some negotiations continued after the end of the Uruguay Round until February 1997, when an agreement was reached regarding telecommunications services, with 69 governments agreeing to wide-ranging liberalization measures that went beyond those agreed upon.
In the Uruguay Round.
In the same year, forty governments successfully completed negotiations on tariff-free trade for information technology products, and seventy member states completed a financial services agreement covering more than 95% of trade in banking, insurance, securities and financial information.
The members of the World Trade Organization also agreed at the ministerial meeting in May 1998 to study the issues of trade arising from global electronic commerce. The organization seeks to continue the trade negotiations of the Doha Round, which was launched in the year 2001 within the fourth ministerial meeting of the World Trade Organization, in order to promote the fair participation of the poorest countries, which