What is the World Trade Organization?

The video discusses the evolution of the World Trade Organization (WTO) from its origins post-World War II to its formal establishment in 1995. It highlights the WTO's role in creating international trade frameworks, resolving trade disputes, and setting model policies. A key focus is on the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, which provides a framework for recognizing and enforcing intellectual property rights globally. The video also touches on how countries often enter into bilateral agreements to complement WTO provisions, emphasizing the importance of these frameworks in facilitating international trade and protecting intellectual property.

What was the primary goal of the organization that eventually became the WTO?

• To promote international peace

• To develop a global education system

• To establish a framework for international trade

• To create a universal healthcare system

In what year was the World Trade Organization officially established?

• 1945

• 1995

• 1985

• 2000

What is one of the key functions of the WTO?

• To regulate global environmental policies

• To manage international sports events

• To offer a forum for resolving trade disputes

• To provide military support to member nations

What does the TRIPS agreement primarily focus on?

• Trade-related aspects of intellectual property rights

• International labor laws

• Global environmental standards

• Universal healthcare policies

How does TRIPS help in the international trading of intellectual property rights?

• By establishing a framework for recognizing and enforcing these rights

• By creating a global database of all trademarks

• By offering financial incentives for counterfeit goods

• By providing military protection for brands