Another key institution shaping globalization is the World Trade Organization (WTO),which traces its origins to a 1948 United Nations(UN)conference in Havana, Cuba.The conference called for the creation of an International Trade Organization to lower tariffs (taxes on imported goods)and to encourage trade.WTO began operating in 1995.Since its creation,WTO has increased the scope of trading agreements,which involve services,investments,and the protection of intellectual property rights,such as patents and copyrights Another key institution shaping globalization is the World Trade Organization (WTO), which traces its origins to a 1948 United Nations (UN) conference in Havana, Cuba. The conference called for the creation of an International Trade Organization to lower tariffs (taxes on imported goods) and to encourage trade. WTO began operating in 1995. Since its creation, WTO has increased the scope of trading agreements, which involve services, investments, and the protection of intellectual property rights, such as patents and copyrights