WBCS.LIVE practice question

The earlier name of WTO was

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. UNCTAD
  2. GATT
  3. UNIDO
  4. OECD

Correct answer and explanation

Correct answer: GATT

Explanation: āœ… Correct Answer: B) GATT šŸ“š Explanation: The World Trade Organization (WTO), established in January 1995, was preceded by the General Agreement on Tariffs and Trade (GATT), which was created in 1947. GATT served as a temporary framework to regulate international trade and lower tariffs. The Marrakesh Agreement officially replaced GATT with the permanent institutional structure of the WTO. This transition expanded the scope of international trade regulations to cover services and intellectual property.