Arrange chronologically the following negotiations of GATT between 1947 to 1994 which led to the formation of WTO? A. Annecy B. Kennedy Round C. Tokyo D. Torquay Choose the correct answer from the options given below:
The correct answer is
A, D, B, C
The question asks to arrange four specific GATT negotiation rounds chronologically. Understanding the timeline of these rounds is crucial for grasping the evolution of international trade agreements that eventually led to the establishment of the World Trade Organization (WTO).
GATT Negotiations Chronology Explained
The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. Several negotiation rounds were held under GATT to reduce tariffs and other trade barriers. Let's determine the chronological order of the mentioned rounds:
Timeline of GATT Negotiation Rounds
Negotiation Round
Abbreviation
Approximate Years
Annecy Round
A
1949
Torquay Round
D
1951
Kennedy Round
B
1964-1967
Tokyo Round
C
1973-1979
Analyzing Each GATT Negotiation Round
Annecy Round (A): Held in 1949 in Annecy, France. This was the second round of GATT negotiations, focusing mainly on tariff reductions.
Torquay Round (D): This round took place in Torquay, England, from 1951. It involved a significant number of participating countries and led to further tariff cuts.
Kennedy Round (B): Named after U.S. President John F. Kennedy, this round took place between 1964 and 1967. It was the first GATT negotiation to address non-tariff barriers alongside tariffs and resulted in the largest tariff reductions to date.
Tokyo Round (C): Conducted from 1973 to 1979 in Tokyo, Japan. This round aimed to reduce non-tariff barriers and addressed other issues like subsidies and countervailing duties.
Determining the Correct Chronological Order
Based on the dates:
Annecy Round (1949) - Option A
Torquay Round (1951) - Option D
Kennedy Round (1964-1967) - Option B
Tokyo Round (1973-1979) - Option C
Therefore, the correct chronological order is A, D, B, C.
Matching with the Provided Options
Comparing this order (A, D, B, C) with the given choices:
Option 1: A, B, C, D (Incorrect)
Option 2: B, C, A, D (Incorrect)
Option 3: A, D, B, C (Correct)
Option 4: C, B, D, A (Incorrect)
The chronological arrangement confirms that Option 3 is the correct answer.
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