The birth of World Trade Organization (WTO) Came into existence on January 1, 1995 holds a great promise for the entire world economy in respect of international trade. This Organization will administer the new global trade rules for in international trade, which amounted to nearly five trillion dollar in 1994 for goods and services. Peter Sutherland, the first Director General of WTO said, “The WTO binds nations in a global co-operative endeavor to raise income and create good jobs through fair and open trade.” The latest issue of GATT/WTO New ( January,1995) observed that the new global trade rules were achieved after seven years of negotiations among were more than 120 countries and through the WTO agreements and market access commitments; world income is expected to rise by over 800 billion dollar annual by the year 2008 and annual global trade.