The World Trade Organization was established by the Uruguay Round in 1995 as successor to the GATT (General Agreement o Tariffs and Trade), the WTO is the only global organization dealing with the rules of trade among nations. It is responsible for monitoring national trading policies, handling trade disputes and enforcing the GATT agreements. The mission of the WTO is also reduce tariffs and other international barriers and eliminate discriminatory treatment in international commerce. More than 150 countries belong to WTO. Website.