What is WTO?
The World Trade Organization (WTO) is an only one international organization that dealing with rules of trade between nations. WTO established and driven by members that are nations which agree to join this organization.
WTO is not a global parliament that issues its policy for all nations to follow. But it is the organization that its decision come from all members of the organization. So member nations are the decision maker that make the rules of trade between nations and the member nations has to abide by the rules that summarized from decision and votes to approve by member nations.
What WTO does?
WTO’s Objective: The goal for establishment of WTO is to help producers of goods and services, exporters, and importers in all member nations to conduct their business smoothly, predictably and freely as much as possible.
Who drives WTO: Each member nation will send its representatives that are its minister, ambassadors or delegates to attend the meeting at WTO headquarters in Geneva to discuss, negotiate and agree to the rules of trade to be enforced among members, then draft it into an agreement. As there are lots of trade topic discussed in the meeting at WTO, the rules of international trade will not be only one agreement, but there are lots of them in several topics that have been agreed.
WTO also hire its own employees to assist day-to-day work of the organization but the decision maker is still all members.
What is trade rules created by WTO: As stated earlier that the trade rules are in the form of agreements that all members agreed to and vote for, these agreements are aimed to bind each government of all members to keep their internal trade policies in line with the trade rules. Therefore, after the trade agreements are finalize, to bind the governments to perform in accordance with the agreements, each member nation has to get its parliament to ratify such an agreement as the next step.