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World Trade Organisation (WTO)

World Trade Organisation (WTO) is an international organisation which was established on 1 January 1995 as an initiative by the developed countries belonging to the United Nations to establish rules and guidelines for liberalisation of international trade. In 2006, nearly 150 member countries were part of WTO. WTO supports free trade for all countries. Its headquarters are located in Geneva. However, there is some debate about WTO having retained trade barriers for the developed nations yet forcing the removal of trade barriers from the developing countries. The selling of agricultural products at extremely low prices by the developed countries to the developing countries has adversely affected the agricultural scenario in the developing countries.

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