What Are The Main Objectives Of The WTO (World Trade Organisation)?

The WTO, or World Trade Organization, has several main objectives. As a global institution, its chief aim is to oversee and regulate trade throughout the world.

The objectives of the WTO In 1995, the WTO took over from fellow acronym, the GATT, in regulating world trade.

The GATT (which stands for General Agreement on Trade and Tariffs) was a UN (United Nations) effort to organize multilateral international trade.

Although the WTO replaced the GATT, many of its core objectives are exactly the same.
They include the following:

• To set and enforce the rules that govern international trade.
• To create a platform for the future liberalization of trade.
• To act as an authority on trade disputes.
• To provide an accountable decision-making process in trade-related issues.
• To co-ordinate trade between global economic institutions.
• To support the trade interests of countries in the developing world.

It is also important to remember that, although the WTO is linked to the GATT, the WTO's role is supposed to be that of an impartial international organization (although critics might question its ability to remain neutral).