The World Trade Organization (WTO) plays a crucial role in regulating international trade, including services like maritime transport. The WTO's General Agreement on Trade in Services (GATS) aims to liberalize the global service market, covering over 90% of international trade in services. This agreement is binding on all 146 WTO Members, creating a potential for a more open and competitive maritime transport sector. The European Commission also recognizes the WTO as a key framework for achieving a fair and efficient global shipping market.