Alþjóðaviðskiptasamtök

Alþjóðaviðskiptasamtök, often referred to as the WTO, is an intergovernmental organization that regulates and facilitates international trade between member nations. It provides a framework for the negotiation and administration of trade agreements, aiming to ensure that trade flows as smoothly, predictably, and freely as possible. The WTO's primary goal is to help producers of goods and services, exporters, and importers conduct their business.

The organization was established on January 1, 1995, succeeding the General Agreement on Tariffs and Trade (GATT) which had been in place since 1948. The establishment of the WTO marked a significant step in the liberalization of global trade, as it brought trade in services and intellectual property rights under a multilateral trading system. Its dispute settlement system is a cornerstone of the multilateral trading system, providing a predictable and impartial process for resolving trade disputes between member governments.

Membership in the WTO is open to any state or customs territory that can manage its trade policies autonomously. Decisions in the WTO are typically made by consensus among all member governments, and these decisions are implemented by individual member governments through their national legislation. The WTO's work is broadly divided into several areas, including trade in goods, trade in services, and trade-related aspects of intellectual property rights. The organization also plays a role in trade facilitation and supports developing countries in their trade endeavors.