Food Standards and Quality Control

Food Standard and Quality Control

Lesson 31: World Trade Organization

Introduction

The World Trade Organization is an international organization which was created for the liberalization of international trade. The World Trade Organization came into existence on January 1st, 1995 and it is the successor to General Agreement on Trade and Tariffs (GATT). It deals with the rules of trade between countries at global level. WTO is responsible for implementing new trade agreements. All the member countries of WTO have to follow the trade agreement as decided by the WTO.