The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.

Objectives of the WTO:

The agreement establishing WTO reiterated the objectives of the GATT.

More specifically, the WTO outlined its objectives to include the following under its scope:

i. Raise standard of living and incomes by ensuring. (i) Full employment, (ii) expanding production and trade, and (iii) optimal use of world’s resources;

ii. Adopt the idea of sustainable development in relation to the optimal use of world’s resources, i.e. reinforce the need to protect and preserve the environment in a manner consistent with the various levels of national economic development;

iii. Recognise the need for positive efforts to ensure that developing countries secure a better share of growth in international trade;

iv. To demolish all hurdles