The trade liberation has been a major contributor to increasing economic globalization. The WTO replaced the GATT as a result of Uruguay round of trade negotiations beginning in 1986. The WTO was created in the result of these negotiations. The purpose of it creation was to mitigate trade barriers of international trade as well as among different countries.
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:
Functions of Reference Center
WTO Cell, Planning & Development Department
Government of the Punjab Civil Secretariat, Lahore