World trade organization

1. History

The WTO was established on 1 January 1995. The WTO's headquarters are in Geneva, Switzerland. It currently has 144 members. The WTO replaced the General Agreement on Tariffs and Trade (GATT) following the conclusion of the Uruguay Round of trade negotiations in 1994. The WTO is an international organization that administers multilateral agreements pertaining to trade in goods (GATT), trade in services (GATS), and trade related aspects of intellectual property rights (TRIPs).

The supreme body of the WTO is the Ministerial Conference which is held at least once in every two years. It comprises representatives of all members and ...