The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. Established in 1995, it aims to facilitate smooth and predictable trade between member countries through a framework of rules. Key impacts include:

• Trade Liberalization: The WTO works to reduce trade barriers, such as tariffs and quotas, promoting freer trade globally.

• Dispute Resolution: It provides a mechanism for resolving trade disputes, ensuring that countries adhere to agreed-upon trade rules.

• Trade Negotiations: The WTO serves as a forum for member nations to negotiate trade agreements and make adjustments to existing ones.

• Transparency: It requires member countries to make their trade policies transparent, enabling businesses and governments to make informed decisions.

• Economic Growth: By promoting open trade, the WTO fosters economic growth by providing access to larger markets for goods and services.