Its competitive trading benefits make WTO membership crucial for all countries. Russia became the world's last major economy to join the WTO when it became a member in 2012. WTO is an international organization that provides regulations on international trade. World Trade Organization - WTO: The World Trade Organization (WTO) is the only international organization that deals with the global rules of trade … The original member states of the World Trade Organization are the parties to the GATT after ratifying the Uruguay Round Agreements, and the European Communities. There were over 30 applicants negotiating membership at that time. Roberto Azevedo, Director-General of the World Trade Organization, joins "Squawk Alley" to discuss expectations that global trade will drop up to 32 percent in 2020. 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. The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations. The World Trade Organization (WTO) is an international agency with 162 member countries and its purpose is to promote international commerce. How long has it been around? The World Trade Organization (WTO) - Membership As of 1 January 2002, there were 144 member nations of the WTO. Established in 1995, the World Trade Organization (WTO) transformed the 1947 General Agreement on Tariffs and Trade (GATT) into an enforceable global commerce agency with one-size-fits-all binding rules to which every signatory country is required to conform its domestic policies. 11:53 AM ET Wed, 8 April 2020. Alphabetical List of WHO Member States. It is the largest international … Its main function is to ensure that trade flows as smoothly, predictably and freely as possible between its members. They obtained this status at the entry into force on 1 January 1995 or upon their date of ratification. Trade policy reviews The World Trade Organization deals with the global rules of trade. All GATT signatory nations who signed the Final Act of the Uruguay Round in Marrakesh in July of 1994 automatically became original members of the WTO. World Trade Organization: The World Trade Organization (WTO) is the international organization dealing with the global rules of trade between nations. The chart below list the regions for every country that is a member of WHO. The World Trade Organization can trace its roots back to end of World … The organization deals with trade negotiations among member countries and also offers solutions to trade disputes. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.