The organization replaced the General Agreement on Tariffs and Trade (GATT), which had been in force since 1947, and emerged as a result of the Uruguay Round negotiations. The WTO became the principal global institution that sets the rules concerning trade in goods and services, provides a mechanism for resolving trade disputes, and forms the basis for multilateral trade negotiations.
Source: Wikipedia
Frequently asked questions
- What was World Trade Organization Established?
- On 1 January 1995, the World Trade Organization (WTO) was established to regulate international trade.
- When did World Trade Organization Established happen?
- 1995 CE
- Where did World Trade Organization Established take place?
- Cenevre