The __________ represents the first attempt to establish a truly global mediation centre to resolve international trade disputes.
A)International Trade Court
B)World Trade Organization
C)Global Trade Commission
D)United Nations Arbitration Centre

Question

Quizplus · Accepted Answer

The World Trade Organization (WTO) was established in 1995 as a global mediation center to resolve international trade disputes. It replaced the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1948, but lacked the institutional framework and enforcement mechanisms of the WTO. The WTO's Dispute Settlement Body (DSB) is responsible for resolving disputes between member countries, using a combination of mediation, arbitration, and adjudication.

The __________ Represents the First Attempt to Establish a Truly