What are essence and key functions of the World Trade Organization (WTO)? What changes will be arisen after the accession of Azerbaijan to an institution introduced without any alternative? Why we couldn’t reach any consent within the 13 years negotiations? What will be advantages and disadvantages of WTO membership? Despite these questions are not fundamental, they are of real interest in a period when the globalization is widening more and more and the economic integration is unavoidable. This document has been drawn up to find out answers to the tens questions mentioned or not mentioned previously.