World Trade Organization (WTO)

The WTO was established in 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT), 1947.

  • It is headquartered in Geneva, Switzerland, with 164 member countries.
  • Its objective is to promote free, fair, and rules-based international trade.
  • It operates on principles such as Most Favoured Nation (MFN) and National Treatment.
  • It has a Dispute Settlement Mechanism (DSM), considered the backbone of the multilateral trading system.
  • The Appellate Body Crisis continues as appointments remain blocked, leading to paralysis of dispute resolution at the final stage.
  • This has weakened the enforcement of trade rules and increased reliance on bilateral ....
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