| world trade organization | |
noun | |
| an international organization based in Geneva that monitors and enforces rules governing global trade |
World Trade Organization - WTO
An international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.
Investopedia Commentary
Some, especially multinational corporations, believe that the WTO is great for business. Others believe the WTO will undermine the principles of democracy and simply make the rich much richer.
Related Links
What Is The World Trade Organization?
See also: General Agreement on Tariffs and Trade - GATT, OECD
Also spelled: WTO