The World Trade Organization (WTO)

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The World Trade Organization (WTO) is a group of nations that set up trade agreements among each other regarding their trade. WTO is intended to help nations easily trade with each other and it operates of rules established by the WTO. Many nations participate in the WTO and have benefit a lot in economic growth as the world becomes more globalized. It helps business export and trade with other businesses beyond their national borders. The WTO was founded in 1995 and based out of Geneva Switzerland. The WTO replaced General Agreement on Tariffs and Trade (GATT), which it operated from 1948-1995. Ever since WTO started nations participating in it has grown substantially and global trade is bigger than ever before. The WTO is designed to based on the following principles; Non-discrimination, Reciprocity, Binding and enforceable commitments, Transparency, and safety valves. WTO also helps settles disputes among nations when it comes to trading. It acts as a neutral court to help settle the disputes. There are 159 member nations and 25 observer governments. WTO has a leader who is ...
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