The General Agreement on Tariffs and Trade was replaced by the __________ in 1995.

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) was replaced by the World Trade Organization (WTO) in 1995, which is responsible for regulating international trade and resolving disputes related to it. The International Monetary Fund (IMF) and World Bank are separate organizations that focus on international monetary cooperation and providing financial assistance to developing countries. The International Trade Organization (ITO) was a proposed international organization to promote free trade, but it was never realized and its functions were absorbed by the GATT.

The General Agreement on Tariffs and Trade Was Replaced by the __________