This document provides an overview of the importance of World Trade Organisation (WTO) in international business. It discusses the motivations behind its formation, key functions, challenges faced by the organisation, and its impact on specific industries. The WTO aims to facilitate and regulate international trade, ensuring smooth trade flows and encouraging economic growth. It also explores the theory and practice of assessing the effectiveness of WTO using relevant examples. Overall, this document highlights the significance of WTO in promoting global trade and its role in shaping international business.