The World Trade Organization (WTO) plays a key role in regulating international trade by promoting the free flow of goods and services among member countries and resolving trade disputes. This organization, established in 1995, is the successor to the previous multilateral trade system, the General Agreement on Tariffs and Trade (GATT), and today has 164 members. The aim of this thesis is to analyze the functions, goals, and structure of the WTO, and to evaluate its successes and challenges throughout history. Special attention is given to the key principles of the WTO, such as the principle of non-discrimination, multilateralism, and dispute resolution. Through the analysis of significant cases and disputes, the strengths and weaknesses of the organization are identified, with a focus on its impact on developed and developing countries. The thesis also examines the role of the WTO in contemporary challenges, such as trade wars, climate change, and the digital economy. Based on the analysis, recommendations for future reforms of the WTO are presented, aiming to improve its ability to respond effectively to changing global economic conditions and the needs of its members.