Answer:
The World Trade Organization (WTO) is an intergovernmental organization established in 1995 to promote international trade by establishing and enforcing trade rules among its member states. The WTO is responsible for negotiating and implementing trade agreements, resolving trade disputes between member states, and providing technical assistance and training to help countries develop their capacity to participate in the global trading system.
The WTO supports the international trade model by promoting the principles of free and fair trade in its member states. It aims to reduce trade barriers, including tariffs, quotas and other restrictions, and encourages its members to adopt policies that promote open markets, competition and transparency. By creating a level playing field for all countries, the WTO helps ensure fair and equitable international trade that can benefit both developed and developing countries.
The WTO also supports the international trade model by providing a forum for dialogue and cooperation among its members. By bringing countries together to negotiate trade agreements and settle disputes, the WTO helps build trust among its members, which can promote stability and cooperation in the global trading system.
In general, the WTO plays a key role in supporting the international trade model by promoting free and fair trade, reducing trade barriers and facilitating cooperation and dialogue between its member states.
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