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The World Trade Organization (WTO) is an independent body with co-operative links to the United Nations. On January 1, 1995, it replaced the General Agreement on Tariffs and Trade (GATT), an international trade agreement that grew out of the Bretton Woods system, which set out to regulate international monetary policy and promote economic stability in the post World War II era. The WTO's main role is to promote free and non-discriminatory trade between nations and provide a forum for the settlement of trade disputes between members. It has 150 member states.
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