Our home planet consist of many nations and every nation has there own culture and belief, so chances to have disputes are high. These disputes can make very hard situation to live around. Like it had been seen at the time of two world wars.
So in order to maintain peace between countries the new organisation named WTO had been formed in 1995, WTO came into existence because of the failure of Uruguay round in 1993. WTO plays an important role to settle disputes between it's member countries.WTO have its own frame work i.e. implementing policies, operation and administration.
WTO regulates all the international trade. To make international trade more successful WTO remove almost all the trade barriers around the world. WTO major objectives are: remove trade barriers, achieve global economic demand, achieve high market share of developed and developing countries and last but not the lest dispute settler.
As to make world a better place to live it's very important to develop all under develop countries, and countries can be said develop when it's financial position is good i.e GDP level. WTO provide financial aid and other reliefs to under develop countries so that they can name then under developed countries.
From the point of view of world peace and international trade, WTO play a very important role.
