May 20, 2003
The World Trade Organization ("WTO") is an international institution designed to promote the free flow of trade. Under the auspices of the WTO, member governments agree on rules and principles for trade, engage in negotiations to decrease trade barriers, and participate in dispute settlement. It is a system based on rules not power. It is founded on the principles of trade without discrimination, free trade through negotiation, predictability in the trading system, economic development, fair competition, and economic reform.