The World Trade Organisation was established in 1995. The WTO is meant to:
- Supervise the implementation of the Uruguay Round agreements.
- Act as a forum for multilateral trade negotiations.
- Settle disputes.
While some parts of the GATT used to be voluntary, to join the WTO, all members have to agree to all of the provisions of the agreement.
These agreements limit the power of governments while giving corporations unlimited access to the resources of national societies, to use as they wish.
During the opening of the first ministerial meeting of the World Trade Organisation in December 1996, the Director-general of WTO declared that the drafting of a global investment treaty was like “writing the constitution of a single global economy.”