The World Trade Organization (WTO) is an international organization that regulates and promotes global trade. The WTO was founded in 1995, succeeding the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1948.

The WTO founding agreement is a set of rules and principles that govern the operations of the organization and its member countries. The agreement was signed by the founding members of the WTO, which included the United States, Europe, Japan, Canada, and Australia.

The WTO founding agreement sets out the objectives of the organization, which include promoting free trade, ensuring fair competition, and providing a platform for negotiation and dispute settlement. The agreement also establishes the framework for the WTO`s decision-making process, including the General Council, which is the organization`s highest decision-making body.

The founding agreement includes several important provisions that are designed to promote free trade and prevent protectionism. For example, the agreement prohibits member countries from imposing arbitrary or unjustified trade barriers, such as tariffs or quotas, on imports and exports. It also sets out rules for the protection of intellectual property rights, which are essential for promoting innovation and economic growth.

Another key provision of the founding agreement is the dispute settlement process, which provides a mechanism for resolving disputes between member countries. The process is designed to be transparent, impartial, and effective, and it has been used to settle a wide range of disputes, from disputes over tariffs to disputes over the treatment of foreign investors.

In summary, the WTO founding agreement is a crucial document that establishes the rules and principles that govern the operations of the organization and its member countries. By promoting free trade, ensuring fair competition, and providing a platform for negotiation and dispute settlement, the WTO is helping to create a more open and integrated global economy that benefits all countries and their citizens.