Wed Mar 9, 2016 10:42AM
The World Trade Organization logo at the entrance of its headquarters in Geneva. (Photo by Reuters)
The World Trade Organization logo at the entrance of its headquarters in Geneva. (Photo by Reuters)
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The international World Trade Organization governs trade among countries. Iran applied for WTO membership in 1996 but has faced US opposition.

Iran applied for membership in the WTO on July 19, 1996; but the United State’s veto power prevented Iran from ascending to the organization but for the country’s demand to remain unheard for 21 times.

Finally on May 26, 2005, in an effort to encourage Iran to continue nuclear talks, they decided to allow a limited membership in the organization. Iran’s economy in terms of gross domestic product (GDP) was ranked 18th in the world in 2009.

Watch the full video of this episode of Iran Today below: