World Trade Organization

The World Trade Organization (WTO) was originally established on January 1, 1995 after eight years of negotiations called the Uruguay Round. Now residing in Geneva, Switzerland, WTO was created in order to further international trade relations and help stimulate the economy of poorer countries. According to the organization's website, it counts 149 countries as members as of December 2005. These members include all of North America and South America, most of Africa, Australia, most of Asia, and the European Union (as part of the European Community). However, aside from official members, only 15 countries in the world are not somehow affiliated with the organization, whether as an observer or in negotiations to join. WTO serves the following functions: it administers organization trade agreements, handles trade disputes, monitors national trade policies, provides technical assistance and training to developing countries, cooperates with other international organizations, and also serves as a forum for trade negotiations.

The World Trade Organization has come under a lot of criticism since its inception. According to BBC News, many are worried that WTO is too powerful, saying that "it can in effect compel sovereign states to change laws and regulations by declaring these to be in violation of free trade rules." There is also great trepidation over its leadership, as it is run by the world's richest nations, generating alarm concerning its lack of care for worker's rights, child labor laws, the environment, or health. While supporters argue the organization is democratic, distrust is generated by WTO's closed meetings to the public and to the media. This criticism, along with free trade issues and helping underdeveloped countries, make up a bulk of the organization's challenges.

http://www.wto.int/english/thewto_e/whatis_e/whatis_e.htm