Which of the following is a multilateral trading system formed in 1995?
A) WTO
B) GATT
C) IMF
D) ASEAN
E) NAFTA

Question

Quizplus · Accepted Answer

The multilateral trading system that was formed in 1995 is the World Trade Organization (WTO). The General Agreement on Tariffs and Trade (GATT), which was formed in 1947, was the predecessor to the WTO. The International Monetary Fund (IMF) is a specialized agency of the United Nations that was created in 1944 to promote international monetary cooperation and exchange rate stability. The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization that promotes economic integration among its members in Southeast Asia. The North American Free Trade Agreement (NAFTA) was formed in 1994 between Canada, Mexico, and the United States to eliminate trade barriers between the three countries. However, NAFTA has since been replaced by the United States-Mexico-Canada Agreement (USMCA) in 2020.

Which of the Following Is a Multilateral Trading System Formed