The World Trade Organization (WTO)utilizes ____ to establish rules and guidelines for global commerce.
A) NAFTA (North American Free Trade Agreement)
B) GATT (General Agreement on Tariffs and Trade)
C) FTAA (Free Trade Area of the Americas)
D) APEC (Asia Pacific Economic Cooperation)

Question

Quizplus · Accepted Answer

The WTO was formed in 1995 as a successor to GATT (General Agreement on Tariffs and Trade) which was established in 1948. GATT was a multilateral treaty that regulated international trade and the WTO now continues this work by setting rules and guidelines for global commerce. NAFTA, FTAA, and APEC are all regional agreements or forums for trade cooperation, but they are not directly affiliated with the WTO's work.

The World Trade Organization (WTO)utilizes ____ to Establish Rules and Guidelines