The World, Explained · 45 sec
World Trade Organization
A small piece of context that makes the wider world easier to read.
The useful idea
- The useful idea
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade.
- How it works
Established on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, it succeeded the General Agreement on Tariffs and Trade (GATT), which was created in 1948.
- Why it matters
As the world's largest international economic organization, the WTO has 166 members, representing over 98% of global trade and global GDP.
Why this matters
Use World Trade Organization as context when interpreting events and claims about the world.
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Use World Trade Organization as context when interpreting events and claims about the world.
Test your recall
Which idea belongs to the explanation of World Trade Organization?
- How it works
- The useful idea — correct
- Why it matters
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade.