World Trade Organization is only international body which deals which rules and regulations of smooth trade between nations and mediates disputes among its member nations. It was established in 1st January 1955 and has 164 members. It is successor to general agreements on Tariffs and trade (GATT).
The headquarters of WTO are located in Geneva, Switzerland. The main goal of WTO is to help the producers of goods and services, exporters and importers, so that they can conduct their business smoothly.
Key objectives of WTO are :
1. To make and execute rules for international trade
2. It provides technical assistance and training for developing countries and co-operation with other international organizations
3. It provides forum for trade negotiations and handles international trade disputes
4. To enhance transparency of decision making process