Changes

}}

}}

'''The World Trade Organization''' ('''WTO''') is a coalition to supervise and liberalize international trade. Any dispute over trade between member countries is brought before the WTO and is solved through a series of negotiations. The organization is driven by its members, and all decisions are made by member governments.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref> The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.

The '''World Trade Organization''' ('''WTO''') is a coalition to supervise and liberalize international trade. Any dispute over trade between member countries is brought before the WTO and is solved through a series of negotiations. The organization is driven by its members, and all decisions are made by member governments.<ref>[http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm BBC News-Profile: World Trade Organization]</ref> The agreements signed by various nations under WTO play an important role when forming laws and policies related to international trade.

==History==

==History==

* Proposals for the establishment of an International Trade Organization was forward by delegates from fifty-six countries in November, 1947 in Havana, Cuba.

* Proposals for the establishment of an International Trade Organization was forward by delegates from fifty-six countries in November, 1947 in Havana, Cuba.

* In 1982, a failed meeting of the GATT resulted in the preliminary foundation of a new trade organization; this was the beginning of the '''Uruguay Round'''. Thus, the GATT slowly built up its scope, and 7 years later it had effectively become the WTO. The process was slow, and the situation often quite bleak.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm WTO.org]</ref> During the early 1980s, the world powers did not find GATT’s principles as applicable to the realities as they used to find them in the 1940s.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>

* In 1982, a failed meeting of the GATT resulted in the preliminary foundation of a new trade organization; this was the beginning of the Uruguay Round. Thus, the GATT slowly built up its scope, and 7 years later it had effectively become the WTO. The process was slow, and the situation often quite bleak.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm WTO.org]</ref> During the early 1980s, the world powers did not find GATT’s principles as applicable to the realities as they used to find them in the 1940s.<ref>[http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact4_e.htm The GATT years: from Havana to Marrakesh]</ref>

* In 1986, the GATT members gradually accepted the negotiating program that enclosed almost all the outstanding issues of the trade policy.

* In 1986, the GATT members gradually accepted the negotiating program that enclosed almost all the outstanding issues of the trade policy.