WTO stands for ____.

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Detailed Solution

WTO stands for World Trade Organisation.
The World Trade Organisation was formed in 1995 to guide trade and make rules for trade transactions between different countries. It was started under the initiative of the developed countries. Before the incorporation of the World Trade Organisation, international trade was carried under the rules and regulations put forward by The General Agreement on Tariffs and Trade. The World Trade Organisation is one of the top decision-making bodies of international trade, and its meeting is held every two years. One hundred sixty-four countries are members of the World Trade Organisation as of July 2016, and representatives from these countries meet for ministerial conferences.

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