Question : When was the 8th round of the General Agreement on Tariffs and Trade (GATT), the so-called "Uruguay Round", which led to the establishment of the World Trade Organization (WTO), completed?
Option 1: 1993
Option 2: 1995
Option 3: 1991
Option 4: 1992
Correct Answer: 1995
Solution : The correct answer is 1995
The eighth round of the General Agreement on Tariffs and Trade (GATT), known as the Uruguay Round, was completed in 1995. This round of negotiations marked a significant milestone as it led to the establishment of the World Trade Organization (WTO). The Uruguay Round was one of the most extensive and complex series of trade negotiations, covering a wide range of issues, including trade in goods, services, intellectual property and the establishment of the WTO to oversee and regulate international trade.
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