UK membership of the WTO

The World Trade Organization (WTO), established in 1995, is the primary international institution overseeing global trade rules and facilitating trade negotiations between its member countries. Evolving from the General Agreement on Tariffs and Trade (GATT), which was in place since 1947, the WTO provides a framework for negotiating and formalizing trade agreements, settling trade disputes, and ensuring the smooth flow of international trade. With a commitment to reducing trade barriers and promoting free trade, the WTO plays a crucial role in shaping the global economic landscape, even as it faces challenges from evolving geopolitics and criticisms related to its decision-making processes and impact on developing nations.