World Trade Organization ( WTO )

Abstract The World Trade Organization ( WTO ),established in 1995 as a result of the Uruguay Round of Multilateral Trade Negotiations, is the global international organization administering the rules of international trade. These rules include, among others: the General Agreement on Tariffs and Trade ( GATT ), the General Agreement on Trade in Services ( GATS ), the Agreement on Trade Related Aspects of Intellectual Property Rights ( TRIPS ), and the Agreement on the Application of Sanitary and Phytosanitary Measures ( SPS Agreement). With the objective of ensuring a predictable and transparent multilateral trading system, the WTO monitors the implementation of trade rules, serves as a forum for multilateral trade negotiations, administers the Trade Policy Review Mechanism ( TPRM ) and provides a mechanism for dispute settlement. The most important challenge of the WTOup to date, remains the completion of the Doha Round of multilateral negotiations.