<P> The World Trade Organization ( WTO ) is an intergovernmental organization that regulates international trade . The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement , signed by 123 nations on 15 April 1994 , replacing the General Agreement on Tariffs and Trade ( GATT ) , which commenced in 1948 . It is the largest international economic organization in the world . The WTO deals with regulation of trade in goods , services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants ' adherence to WTO agreements , which are signed by representatives of member governments and ratified by their parliaments . Most of the issues that the WTO focuses on derive from previous trade negotiations , especially from the Uruguay Round ( 1986 -- 1994 ) . </P>
<P> The World Trade Organization ( WTO ) is an intergovernmental organization that regulates international trade . The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement , signed by 123 nations on 15 April 1994 , replacing the General Agreement on Tariffs and Trade ( GATT ) , which commenced in 1948 . It is the largest international economic organization in the world . The WTO deals with regulation of trade in goods , services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants ' adherence to WTO agreements , which are signed by representatives of member governments and ratified by their parliaments . Most of the issues that the WTO focuses on derive from previous trade negotiations , especially from the Uruguay Round ( 1986 -- 1994 ) . </P>
what are the scope and function of wto
what are the scope and function of wto
an intergovernmental organization that regulates international trade regulation of trade in goods , services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants ' adherence to WTO agreements , which are signed by representatives of member governments and ratified by their parliaments
an intergovernmental organization that regulates international trade regulation of trade in goods , services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants ' adherence to WTO agreements , which are signed by representatives of member governments and ratified by their parliaments