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For other uses, see WTO (disambiguation).
The World Trade Organization (WTO) (OMC - French: Organisation Mondiale du Commerce, Spanish: Organización Mundial del Comercio) is an international organization designed to supervise and liberalize international trade. The WTO came into being on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947, and continued to operate for almost five decades as a de facto international organization.
The WTO deals with the rules of trade between nations at a global or near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the bulk of the world's trading nations and ratified in their parliaments.[3] Most of the WTO's current work comes from the 1986-94 negotiations called the Uruguay Round, and earlier negotiations under the GATT. The organization is currently the host to new negotiations, under the Doha Development Agenda (DDA) launched in 2001.[4]
How to say "World Trade Organization" in other languages:
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(Chinese) | 世界贸易组织 |
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(Japanese) | 世界貿易機関 |
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(German) | Welthandelsorganisation |
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(Spanish) | Organización Mundial del Comercio |
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(French) | Organisation mondiale du commerce |
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(Italian) | Organizzazione Mondiale del Commercio |
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