What does the WTO stand for?

The correct answer is the World Trade Organization, which plays a crucial role in facilitating international trade by establishing and enforcing global trade agreements. It was created to provide a systematic framework for trade negotiations and to ensure that member countries adhere to the agreed rules. The organization aims to promote open trade and reduce barriers, which can help in the economic development of member nations. By managing trade disputes and providing a platform for trade negotiations, the WTO enhances the stability of the international trading system.

The other options do not accurately reflect the purpose or function of the organization, as they refer to different concepts unrelated to global trade.