Question:
The World Trade Organization was earlier known as
The World Trade Organization was earlier known as
Updated On: Aug 12, 2025
- UNCTAD
- GATT
- UNIDO
- UNCITRAL
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The Correct Option is B
Solution and Explanation
The World Trade Organization (WTO) was earlier known as GATT, which stands for the General Agreement on Tariffs and Trade. GATT was established in 1947 with the aim of promoting international trade by reducing tariffs and other trade barriers. It served as the primary international organization dealing with trade issues for nearly 50 years.
In 1995, GATT was replaced by the World Trade Organization (WTO), which expanded its role beyond trade in goods to include services, intellectual property, and dispute resolution. The WTO also established a more formal structure and gave it greater authority to enforce international trade rules.
The correct answer is: GATT, as it was the precursor to the WTO.
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