World Trade Organization (WTO)
The World Trade Organization (WTO) is the international body that sets and enforces the rules of global trade. It came into being in 1995, succeeding the General Agreement on Tariffs and Trade (GATT).
The World Trade Organization (WTO) is the international body that sets and enforces the rules of global trade. It came into being in 1995, succeeding the General Agreement on Tariffs and Trade (GATT).
What it does
The WTO administers trade agreements, provides a forum for trade negotiations, and settles disputes between members through its Dispute Settlement Body. Decisions are generally taken by consensus.
Key issues for India
India engages on agriculture, public stockholding for food security, and special and differential treatment for developing countries.
Why it matters for UPSC
The WTO's 1995 origin from GATT, its dispute-settlement role and consensus decision-making are commonly asked in Prelims and Mains.
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Practise PYQs →Frequently asked questions
What did the WTO succeed?
The General Agreement on Tariffs and Trade (GATT), in 1995.
How does the WTO settle trade disputes?
Through its Dispute Settlement Body (DSB).