Understanding the Establishment of GATT

The question asks about the year when the General Agreement on Tariffs and Trade (GATT) was established. Let's look at the options provided and determine the correct year.

What was GATT?

GATT stands for the General Agreement on Tariffs and Trade. It was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

Establishment of GATT

The GATT was a result of the failure of the international community to create the International Trade Organization (ITO) after World War II. While the ITO treaty was not ratified by enough countries, the agreement on commercial policy, which was part of the ITO charter, went into effect as the GATT.

The agreement was first signed by 23 countries in October 1947 in Geneva, Switzerland, and officially came into force on January 1, 1948.

Analyzing the Options

Let's examine the given options:

• Option 1: 1949
• Option 2: 1948
• Option 3: 1945
• Option 4: 1946

Based on historical information, the GATT officially came into force in 1948.

Conclusion

The General Agreement on Tariffs and Trade (GATT) was established and came into force in the year 1948. This makes Option 2 the correct answer.