The World Trade Organization replaced the GATT with effect from which date?

1 January 1948Correct answerYour answer1 January 1986Correct answerYour answer1 January 1995Correct answerYour answer1 January 2001Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer C

Correct answer: C

The WTO came into being on 1 January 1995.
It was the outcome of the Uruguay Round, which ran from 1986 to 1994.
The GATT itself had been in force since 1948 as an agreement rather than an organisation.

Worth noting

That distinction is the point of the change: the GATT was a treaty with a secretariat, while the WTO is a permanent body with a dispute settlement mechanism.

Concept: When the WTO replaced the GATT
Typical timeTypical: 40 s
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The rule this testsInternational economic bodies

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Ten questions from Indian Economy & Institutions, at your own pace.

The World Trade Organization replaced the GATT with effect from which date?

Explanation