Asked by Karan Patel on May 09, 2024
Verified
The World Trade Organization was established as a successor to
A) GATT.
B) NAFTA.
C) the EU.
D) the Doha Development Agenda.
GATT
The General Agreement on Tariffs and Trade, a multilateral treaty aimed at reducing trade barriers and promoting international trade through the reduction of tariffs and quotas.
World Trade Organization
An international organization designed to regulate and facilitate international trade between nations.
- Explore the responsibilities and operations of global trade institutions, especially focusing on the World Trade Organization (WTO).
- Identify the principles and historical context of the General Agreement on Tariffs and Trade (GATT) and its transition to the WTO.
Verified Answer
MJ
Michael johnsonMay 15, 2024
Final Answer :
A
Explanation :
The World Trade Organization (WTO) was established in 1995 as a successor to the General Agreement on Tariffs and Trade (GATT), which was created after World War II to promote international trade and reduce barriers to trade. The WTO oversees trade disputes between countries and works to liberalize trade policies around the world. NAFTA is a regional trade agreement between the United States, Canada, and Mexico, while the EU is a political and economic union of European countries. The Doha Development Agenda is a set of trade negotiations that began in 2001 under the auspices of the WTO.
Learning Objectives
- Explore the responsibilities and operations of global trade institutions, especially focusing on the World Trade Organization (WTO).
- Identify the principles and historical context of the General Agreement on Tariffs and Trade (GATT) and its transition to the WTO.