Glossary term
WTO
The World Trade Organization, which administers the multilateral trade agreements and settles disputes between members.
The organisation administering the multilateral trade agreements, providing a forum for negotiation and a system for settling disputes between members.
Its rules shape daily customs practice more than its profile suggests: the valuation framework behind customs value, the most-favoured-nation principle, and the disciplines governing antidumping and countervailing measures all derive from WTO agreements.