Today, WTO is the largest trade organization in the world including most of the world countries. Although WTO is a world organization covering most of the world trade, it has been subject to many researches and discussions in terms of whether its impact on international trade and economies of the countries is significant or not. In this context, this book aims to provide a comprehensive analysis of the WTO and the effects of membership that a nonmember country such as Azerbaijan should take into consideration. The main research question is “what kind of macroeconomic impacts are expected for Azerbaijan economy in case of its accession to WTO”. This book includes discussing trends in some macroeconomic indicators of both Georgia and Armenia as the member countries of WTO. Analyzing Georgia and Armenia economies in before-and-after WTO membership context is supposed to create a general impression about what macroeconomic impacts may be expected for Azerbaijan economy in case of its accession. This analysis has been carried out graphically and empirically.