Explanation: The World Trade Organization,based in Geneva, is the only global international organization dealing with the rules of trade between nations. The WTO agreements were negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal of WTO is to ensure that global trades flow as smoothly and as freely as possible.
The World Trade Organization is a
forum for trade-related negotiations, has enforcement power and can impose sanctions so it serves as a dispute mediator through its Dispute Resolution Body. It also strives to support the needs of developing countries.
