An independent entity whose purpose it is to oversee cross-border trade issues and global business practices is called the .

An independent entity whose purpose it is to oversee cross-border trade issues and global business practices is called the World Trade Organization (WTO). The WTO is an intergovernmental organization that regulates international trade. Its main purpose is to ensure that trade flows as smoothly, predictably, and freely as possible. Established in 1995, it provides a framework for negotiating trade agreements and a dispute resolution process to enforce participants' adherence to WTO agreements. The organization plays a crucial role in facilitating trade negotiations and resolving trade disputes to promote fair and open international trade. Therefore, the WTO is vital for managing the complexities of global commerce and maintaining economic stability.