The WTO's creation on 1 January 1995 marked the biggest reform of international trade since after the Second World War. It also brought to reality - in an updated form - the failed attempt in 1948 to create an International Trade Organization.
The world trade is growing day by day under the auspices of WTO regime. Liberation has been a major contributor to increasing economic globalization. The WTO's main objective is to help trade flow smoothly, freely, fairly and predictably. To this end, the WTO: