Abstract
The World Trade Organization (WTO) is an international body whose purpose is to promote free trade by persuading countries to abolish import tariffs and other barriers. As such, it has become closely associated with globalization. The WTO is the only international agency overseeing the rules of international trade. It polices free trade agreements, settles trade disputes between governments and organizes trade negotiations. So, when the US and the European Union are in dispute over bananas or beef, it is the WTO which acts as judge and jury.
WTO is the only global international organization dealing with the rules of trade between nations. The WTO agreements have been negotiated and signed by the majority of the world's trading nations and ratified in their parliaments. The main aim is to help producers of goods and services, exporters, and importers conduct their business.
