World Trade Organisation Wto

The transformation of the General Agreement on Tariffs and Trade (GATT) into the World Trade Organization (WTO) occurred in 1995. This significant event marked the culmination of the Uruguay Round of negotiations, which lasted from 1986 to 1994. Let's explore the process:

• Initially established in 1947, GATT was a multilateral agreement regulating international trade.
• The need for a stronger institution to oversee global trade policy became evident, leading to the negotiation rounds within GATT, particularly the Uruguay Round.
• The Uruguay Round addressed a broad range of issues beyond tariffs, including agriculture, services, and intellectual property.
• The successful conclusion of these negotiations resulted in the Marrakesh Agreement signed on April 15, 1994, which established the WTO.
• On January 1, 1995, the World Trade Organization was officially formed, succeeding GATT as the primary international entity governing trade rules.

Hence, the correct answer is 1995.