WTO agreements refer to the legal agreements negotiated and adopted by the member states of the World Trade Organization (WTO). These agreements aim to reduce trade barriers and facilitate the free flow of goods, services, and intellectual property across borders. The agreements cover a wide range of trade-related issues, including tariffs, subsidies, intellectual property rights, trade in services, and dispute settlement.
WTO agreements are important because they provide a framework for fair and predictable trade practices among member countries. They help to promote economic growth, create jobs, and raise living standards by reducing trade costs and increasing market access for businesses. The agreements also contribute to the stability and predictability of the global trading system, which is essential for economic development and prosperity.