World Trade Organization


  • An international organization that aims to organize and promote free trade between nations. The World Trade Organization (WTO) was formed in 1995 to replace the General Agreement on Tariffs and Trade (GATT). The WTO provides a framework for negotiating formal trade agreements between nations. There are over 150 member states in the WTO.


Established Year

Deals with the global rules of trade between nations.


Related Terms and Acronyms

  • Business (busn) Abbreviation,
    • Economic activities of a given type.
    • A company, either for-profit or non-profit.
    • Commercial, industrial or professional activities undertaken by an entity.
  • Commerce Definition,
    • The systems and activities that impact business and trade within a nation and abroad.
  • Exports Definition,
    • Products and services produced in Canada and sold in other countries.
  • General Agreement on Tariffs and Trade (GATT) Acronym,
    • Imports Definition,
      • Goods and services produced in other countries and sold in Canada.
    • International Chamber of Commerce (ICC) Acronym,
      • A world business organization that brings business people and experts together to formulate policies in such areas as banking, taxation and the environment.
    • International Organization for Standardization (ISO) Company Est. 1946, Geneva, Switzerland,
      • An international organization created to promote standardization around the world.
    • North American Free Trade Agreement (NAFTA) Acronym,
      • An agreement between the United States, Canada, and Mexico that allows for freer trade between the three countries.
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