The World Trade Organization(WTO) was created in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), which was established in 1947. Whereas the GATT mainly dealt with trade in goods, the WTO and its agreements also cover trade in services and intellectual property. The WTO also created new procedures for the settlement of disputes.

The WTO currently has 164 members that represent over 98% of international trade. The WTO's main activities include negotiating the reduction or elimination of obstacles to trade, agreeing among members on the rules governing the conduct of international trade, reviewing the trade policies of members in order to ensure the transparency of regional and bilateral trade agreements, and building the capacity of developing countries on international trade matters.