WTO {World Trade Organization}

The World Trade Organization deals with International Trade. This organization follows the exchange of capital, goods and services across international borders or territories, which it represents a share of GDP {gross domestic product}. Liberalizing and supervising international trade is the core focus to WTO. It enforces participants to adhere to regulations of the WTO by demanding members of different governments to sign agreements. It was commenced in January of 1995 under the Marrakech Agreement and replaced the General Agreement on Tariffs and Trade which was commenced in 1948. The Marrakech Agreement was signed in 1994 being the establishment for WTO.