The World Trade Organization (WTO) is a global intergovernmental institution situated in Geneva, Switzerland, responsible for regulating international trade relations among nations. Its foundation lies in the WTO agreements, initially drafted by its founding members and endorsed by the world's major trading nations. Operating on the principles of non-discriminatory, transparent, and environmentally protective trade, the WTO strives for fair competition and inclusivity, particularly supporting less developed countries.

The WTO emerged in 1995, succeeding the General Agreement on Tariffs and Trade (GATT), which had been the primary facilitator of global trade from 1948 to 1994. The transition occurred in response to the need for a more structured international body, and foundational agreements were established during the Uruguay Round negotiations in the mid-1980s. The WTO officially came into existence on January 1, 1995.

Distinguishing itself from the GATT, the WTO expands its scope to include not only the trading of goods but also services and intellectual property. Additionally, in terms of legal matters, the WTO introduced enhanced mechanisms for dispute resolution. By 2013, the WTO boasted the membership of 159 countries, a number that increased to 164 in 2019, encompassing 98 percent of global trade.