Which of the following organization governs the international trade?

The correct answer is World Trade Organization.

Key Points 

• The World Trade Organization (WTO) is an intergovernmental organization that is concerned with the regulation of international trade between nations.
• The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.
• It is the largest international economic organization in the world.
• The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

The WTO can

• cut living costs and raise living standards
• settle disputes and reduce trade tensions
• stimulate economic growth and employment
• cut the cost of doing business internationally.
• encourage good governance
• help countries develop
• give the weak a stronger voice
• support the environment and health
• contribute to peace and stability
• be effective without hitting the headlines