Explain the importance of WTO’s role globally.

The World Trade Organization’s role globally is to ensure that global trade is conducted as freely and predictably as possible. WTO has eight core goals, and firstly, it seeks to eliminate or minimize the impact of obstacles to global trade. In other words, the organization works on removing trade barriers that exist between countries and geopolitical regions.

Secondly, it oversees and monitors compliance to the agreed terms and conditions in which the trades are conducted. Therefore, it protects intellectual property related to trade and ensures that trade is made within the rules and regulations.

Thirdly, it designs and reviews trade policies in a highly transparent manner to ensure that agreements are fair and bilateral.

Fourthly, WTO serves as a key interpreter of the trade agreements in case of disputes among the members.

Fifthly, it builds the necessary capacity for government officials in developing countries in regard to international trade activities.

Sixthly, WTO actively helps 30 non-included nations to become members of the organization.

Seventhly, it is tasked with research with the purpose of collecting, disseminating, and analyzing trade information in order to provide evidence and substance for trade activities.

Lastly, WTO has an educational goal order to inform the public about its role, objectives, and purpose.

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