(i) WTO is a permanent organisation created by an international treaty ratified by the Government and legislatures of member states.
(ii) It governs trade not only in goods but also in Services and intellectual property rights.
(iii) It is a member driven rule-based organisation in the sense that all the decisions are taken by common concensus of all the members.
(iv) IT has global status is similar to that of IMF and the
world Bank.