Which organization is primarily responsible for regulating international trade?

The World Trade Organization (WTO) is primarily responsible for regulating international trade. It serves as a global forum for governments to negotiate trade agreements and settle trade disputes, promoting free trade by reducing tariffs and other barriers to trade. The WTO also establishes rules for international commerce, ensuring that trade flows as smoothly and predictably as possible.

The organization's core function is to oversee and enforce multilateral trade agreements that member countries commit to, aiming to facilitate trade and resolve any conflicts that arise from these agreements. By providing a structured framework for trade negotiations and dispute resolution, the WTO plays a crucial role in maintaining a predictable trading environment and encouraging economic cooperation among countries.

In contrast, while organizations like the International Monetary Fund (IMF) focus on financial stability and monetary cooperation, and the World Bank is primarily engaged in development projects and poverty reduction, the WTO's unique mandate is dedicated specifically to the regulation of international trade practices. The United Nations (UN) addresses various global issues, including trade, but does not specialize solely in trade regulation like the WTO does. This defines the WTO's essential role as the governing body for international trade.