WTO

A pharmacy in Panvel sells a generic version of a cancer drug, a Gujarat exporter sends cotton to Europe, and a software firm in Navi Mumbai sells services to a bank in London. Each deal is shaped by rules agreed among governments on tariffs, services and patents. The World Trade Organization is the body where those rules are written, administered and, when countries quarrel, adjudicated.

In two minutes

The World Trade Organization (WTO), established on 1 January 1995 by the Marrakesh Agreement, is the treaty-based organisation that administers multilateral trade agreements on goods, services and intellectual property, provides a forum for negotiation, and runs a binding dispute-settlement system.

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