- The WTO is often described as “rules-based,” with rules being agreements governments negotiated.
- Primary Agreements (from Uruguay Round):
- Agreement establishing the WTO (WTO Agreement).
- Updated General Agreement on Tariffs and Trade (GATT) 1994 (for goods).
- General Agreement on Trade in Services (GATS).
- Trade Related Aspects of Intellectual Property Rights (TRIPS).
- Trade Policy Review Mechanism.
- Dispute Settlement.
- Agreement on Agriculture.
- These agreements provide the legal ground rules for international commerce.