When was the World Trade Organization established?

When was the World Trade Organization established?

• A. 1 January 1995
• B. 1980
• C. 1990
• D. 2000

Answer: (A)

The fact being tested is the exact date the World Trade Organization began its operations. The WTO came into existence as a formal organization on 1 January 1995, following the Marrakesh Agreement of 1994 that completed the Uruguay Round of trade negotiations. Before this, the General Agreement on Tariffs and Trade (GATT) handled many trade rules, but the WTO was created to provide a broader, standing framework for international trade and to oversee and enforce the negotiating agreements concluded during that round. That makes 1 January 1995 the correct date. The other years aren’t when the WTO was established: 1980 and 1990 are earlier periods related to the long lead-up to the round of negotiations, and 2000 is after the WTO had already been established.

The fact being tested is the exact date the World Trade Organization began its operations. The WTO came into existence as a formal organization on 1 January 1995, following the Marrakesh Agreement of 1994 that completed the Uruguay Round of trade negotiations. Before this, the General Agreement on Tariffs and Trade (GATT) handled many trade rules, but the WTO was created to provide a broader, standing framework for international trade and to oversee and enforce the negotiating agreements concluded during that round.

That makes 1 January 1995 the correct date. The other years aren’t when the WTO was established: 1980 and 1990 are earlier periods related to the long lead-up to the round of negotiations, and 2000 is after the WTO had already been established.