The World Trade Orga iza ion C'Y"fO) was ormed in 1995 and, since then a_ number of c?untries- mostly the Lee Developed Countries mcludmg Tanzama - have become mebers of this global tradmg organization.the main objective of creating the WTO was to facilitate international trade. In this regard it has a rather ambitious ob_je tiv of clim nating tariff and _non-tariff barriers to tr d.e berween nations. This paper critically analyses the eXISting JnternatJonaJ trade paradigms and the opportUnitieS and threats posed by the WfQ tO a developing country such as Tanzania. In doing so, the paper reviews also the role of the United Nations Conference on Trade and Taritfs (UNCTAD) and the achievements of the various trade rounds organized under its umbrella.