When was WTO (World Trade Organization) established?
1995
WTO Establishment Date Explained
The World Trade Organization (WTO) is a vital international organization that deals with the global rules of trade between nations. Its primary function is to ensure that trade flows as smoothly, predictably, and freely as possible.
Understanding the WTO's Origins
The WTO officially came into being on January 1, 1995. This marked a significant evolution from its predecessor, the General Agreement on Tariffs and Trade (GATT), which had been in effect since 1948.
Key Milestones:
- The foundations for the WTO were laid during the 1986-1994 Uruguay Round of trade negotiations.
- The Marrakesh Agreement, signed in April 1994, formally established the World Trade Organization.
- The WTO officially commenced operations on January 1, 1995.
Why 1995 is the Correct Answer
Comparing the options provided:
| Option | Year | Status |
| 1 | 1995 | Correct Establishment Year |
| 2 | 1948 | Year GATT came into effect |
| 3 | 1999 | Incorrect Year |
| 4 | 1983 | Incorrect Year |
Therefore, the World Trade Organization (WTO) was established in 1995.
Important Questions from International Economic institutions
General Agreement on Tariffs and Trade was formalised in the year:
In which of the following years was ADB (Asian Development Bank) established?
What is the CORRECT sequence of the following?
A. Uruguay Round
B. Kennedy Round
C. Doha Round
D. Geneva Round
Choose the correct answer from the options given below
Match List-I with List-II:
List I
(Trade and Finance Institution)
List II
(Headquarters)
a) WTO i) Brussels b) IMF ii) Geneva c) FAO iii) Washington d) EU iv) Rome Choose the correct option from those given below:
Match List I with List II:
List- I
Type of Agreement
List – II
(Explanation)
A.
NAMA
(I)
Liberation of International Investments
B.
GATTs
(II)
Includes industrial goods. textile. jewellery, fish and fisheries products and manufacturing industries
C.
TRIMs
(III)
Liberalisation of trade in goods and services
D.
TRIPs
(IV)
Provides monopoly power to owners of intellectual ‘property
Choose the correct answer from the options given below -
