international trade today

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INTERNATIONAL TRADE TODAY Insert Your Name Here Insert Your Tutor’s Name Here Institution Affiliation Date International Trade Today The Organization is a worldwide organization that ensures various countries producing various goods and services conduct their businesses smoothly and fairly across international borders. This action is made possible through the World Trade Organisation agreement which is signed by many countries which conduct trading activities globally. Indeed, the World Trade Organization agreement acts as a license that provides a legal framework for various nations to conduct trading activities globally. The Organization was initially created in1995, and it replaced the former organization which was involved in trading activities. The trade organization was indeed created under the Marrakesh Agreement which was signed by a total of 123 countries on 15 April 1994 (Riasi & Amiri, 2013). However, before the World Trade Organization was created, a similar body known as International Trade Organization had also been proposed to be formed. Unfortunately, the idea of forming the body was not approved by many countries such as the United States of America. Indeed most of the leading economies in the world began trading globally in the 1980’s. Due to this reason the former trading organization was considered not to have the capability to address the arising challenges that these countries faced while trading. This reason resulted to one of the largest trade negotiating event which occurred in 1986. Indeed one of the achievements of these negotiations was the creation of the leading trading organization today. Moreover, this organization

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