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World Trade Organization (WTO); Claimed by the WTO website, “The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business” (World Trade Organization). It was Founded in 1995, successor to General Agreement on Tariffs and Trade (GATT). Its main purpose is to lower trade barrier and encourage countries to trade with each other, promote fair competitions between countries and promote trade liberalization to accelerate economic growth and economic globalization by reviewing trade policies, settling trade disputes, training member countries to trade, and contributing to the making of economic policies relevant to global/international trade.References:Al-Rodhan, R.F. Nayef and Gérard Stoudmann. (2006). Definitions of the Globalization: A Comprehensive Overview and a Proposed DefinitionThe World Bank. (n.d.). What We Do. Retrieved 07 31, 2015, from ; International Monetary Fund. (n.d.). About the IMF. Retrieved 07 31, 2015, from ; World Trade Organization. (n.d.). What is the WTO? Retrieved 07 31, 2015, from ;